Latest news with #MCCP
&w=3840&q=100)
Business Standard
01-07-2025
- Business
- Business Standard
Sigachi Industries shares drop 18% in two days after fatal accident
Shares of Sigachi Industries extended their plunge by another 8 per cent on Tuesday, a day after multiple people were reportedly killed and injured after one of the reactors exploded at its plant. The pharmaceutical company's stock fell as much as 6.97 per cent during the day to ₹45.3 per share. On Monday, the stock fell as much as 14.7 per cent, but pared some losses to end 11.5 per cent lower. At 11:42 AM, the stock was trading 6.7 per cent in the red, compared to a 0.05 per cent advance in the Nifty 50. Shares of the company are down nearly 25 per cent from the recent peak of ₹59 apiece, which it hit last month. The counter has fallen 9.8 per cent this year, compared to an 8.2 per cent advance in the benchmark Nifty 50. Sigachi Industries has a total market capitalisation of ₹1,719.91 crore. Fatal accident at Telangana unit In an exchange filing, the company clarified that a fire incident occurred at the Hyderabad Plant. "The incident has unfortunately resulted in the loss of human life, and there may have been individuals who sustained injuries. While the exact number of injuries is currently being confirmed, the well-being of our personnel remains our foremost priority." A thorough on-ground assessment of the situation is currently in progress, the company said and added that it is coordinating with relevant authorities to ensure all safety and support protocols are followed. The operations at the plant will be temporarily paused for an estimated period of 90 days to facilitate the replacement and restoration of affected equipment and structures, the company said. It added that they are evaluating the expected quantum of the damage caused due to the incident. However, the damage was covered by insurance, it said. Rescue operation A fire alert was received at 9:37 AM Monday, prompting the deployment of 11 fire tenders from stations including Patancheru, Sangareddy, Kukatpally, Madhapur, Jeedimetla, and Rajendranagar. Chief Minister A Revanth Reddy expressed anguish over the explosion and directed authorities to take all the necessary action to save the trapped workers and provide them with advanced medical care. About Sigachi Industries Incorporated in 1989, Sigachi Industries is one of the major producers and distributors of Micro Crystalline Cellulose Powder (MCCP). The company offers 59 different grades of MCC through its two state-of-the-art manufacturing facilities in Hyderabad and Gujarat, with a total installed capacity of 11,880 MTPY. Sigachi Industries is also a leader in the field of Pharma Excipients, Nutra and food ingredients.
&w=3840&q=100)
Business Standard
30-06-2025
- Business
- Business Standard
Sigachi Industries stock tanks 14% after deadly explosion at Telangana unit
Sigachi Industries share price today: Shares of pharmaceutical company Sigachi Industries crashed nearly 14 per cent on Monday amid reports of an industrial accident at one of its associated plants in Telangana. At 2 PM, the stock was trading at ₹47.64, down 13.57 per cent from its previous day's close of ₹55.12. In comparison, the benchmark Nifty50 index was quoting at 25,478.9 levels, down 158.9 points or 0.62 per cent. The stock is down nearly 32 per cent from its 52-week high of ₹69.89 touched on August 1, 2024. Last checked, the company's market capitalisation stood at ₹1,820.41 crore. Here's why Sigachi Industries shares are falling According to a PTI report, a massive fire broke out after one of the reactors exploded at a Sigachi Chemical Industry unit in Telangana's Pashamylaram, reportedly killing 10 people and injuring several. A rescue operation is underway at the site and 11 fire tenders were rushed to the location. In addition, several workers are feared trapped at the accident site and efforts were on to rescue them. Chief Minister A Revanth Reddy expressed anguish over the explosion and directed authorities to take all the necessary action to save the trapped workers and provide them with advanced medical care. According to various reports, a fire alert was received at 9:37 AM, prompting the deployment of 11 fire tenders from stations including Patancheru, Sangareddy, Kukatpally, Madhapur, Jeedimetla, and Rajendranagar. About Sigachi Industries Incorporated in 1989, Sigachi Industries is one of the major producers and distributors of Micro Crystalline Cellulose Powder (MCCP). The company offers 59 different grades of MCC through its two state-of-the-art manufacturing facilities in Hyderabad and Gujarat with a total installed capacity of 11,880 MTPY. Sigachi Industries is also a leader in the field of Pharma Excipients Nutra and food ingredients.
Mint
12-06-2025
- Business
- Mint
Multibagger smallcap stock Sigachi Industries share price jumps 50% in three months. Should you buy or sell?
Multibagger smallcap stock: The shares of Sigachi Industries has experienced a strong upward trend over the past three months, providing substantial returns for its investors. This multibagger smallcap stock has increased by nearly 50% in just three months and over 33% in the last month. Sigachi Industries, which specializes in the production of Micro Crystalline Cellulose Powder (MCCP), has seen its stock price soar more than 126% over the last two years. Despite this upward trend, the company's Q4 results have further boosted its gains following the earnings announcement in early June. According to the exchange filing, the total operating income for Q4 increased by 23.15% on a year-on-year basis, totaling ₹ 128 crores. EBITDA experienced substantial growth, rising by 74.84% year-on-year to reach ₹ 28.5 crores, which corresponds to an EBITDA margin of 22.31%. Net profit rose by 7.28% compared to the previous year, amounting to ₹ 16.2 crores and resulting in a PAT margin of 12.63%. Revenue from the MCC segment saw a steady increase, growing by 55.08% year-on-year to ₹ 121.32 crores. The operations and maintenance segment added ₹ 10.76 crores, marking an increase of 17.9% compared to the same quarter last year. In its latest earnings call for Q4FY25, the company reported strong demand in both domestic and international markets, driven by a focus on quality manufacturing and a customer-oriented strategy. While the global MCC market experiences a 5-year CAGR of 6.5%, Sigachi has achieved a remarkable 5-year CAGR of 26.47%, highlighting their unique capabilities and effective execution. In their main MCC sector, revenue for FY '25 increased by 23.89%, with volume rising by 29.57%. The board of directors of the company recommended a final dividend of Re 0.10 per share. Sigachi Industries share price today rose nearly 3%, the stock opened at ₹ 55.88 apiece on the BSE. Sigachi Industries share price touched an intraday high of ₹ 57.19 per share, and an intraday low of ₹ 55.70 apiece. Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, said that Sigachi Industries share price has witnessed a remarkable upward trajectory since the beginning of June, registering an impressive rally of over 30% from its recent low of ₹ 42. This upmove has been accompanied by robust trading volumes, lending strong credibility to the bullish sentiment. Notably, the stock has successfully closed above the December swing high, which confirms a saucer pattern breakout on the daily chart — a classic bullish continuation setup that suggests a gradual accumulation phase followed by a breakout. Further strengthening the bullish case, the Weekly RSI has crossed above the 60 mark, a level typically associated with a positive shift in medium-term momentum, reinforcing the likelihood of continued upside. From a technical standpoint, the confluence of price structure, volume action, and momentum indicators points toward a potential extension of this rally. The stock is well-positioned to test the next resistance zone around ₹ 68– ₹ 70 in the near term. On the downside, ₹ 52 now acts as a strong support level, being the breakout zone and a potential demand area on pullbacks. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
