Latest news with #SigachiChemicalIndustry
Time of India
21 hours ago
- Time of India
Reactor blast in Telangana: 12 killed after fire breaks out in Pashamylaram; rescue ops under way
Fire broke out following a reactor explosion at Sigachi Chemical Industry - PTI Image NEW DELHI: At least 12 people were killed and left 34 people injured after a devastating reactor explosion at Sigachi Industries Pvt Ltd in Telangana 's Pashamylaram on Monday morning. Earlier, Inspector General of Police V Satyanarayana confirmed to PTI: "Six bodies have been recovered from the accident site and two people died while undergoing treatment in a hospital. As many as 26 people were injured, out of which two to three people are seriously injured." According to factory sources, approximately 150 people were present in the facility, with 90 individuals near the blast site. The explosion occurred between 9.28 am and 9.35 am, prompting immediate response from local police and fire services. Ten fire engines were deployed, alongside NDRF and SDRF personnel for rescue operations. While the fire was contained, authorities worked to rescue about 10 workers trapped inside a room. The exact number of workers present during the incident remained unclear, as the record keeper was believed to be among the deceased. Prime Minister Narendra Modi expressed condolences and announced compensation through 'X': Rs 2 lakh from the Prime Minister's National Relief Fund for the deceased's families and Rs 50,000 for the injured. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo Chief minister A Revanth Reddy instructed officials to ensure advanced medical care for the injured and assist in rescue operations. Sigachi Industries Limited specialises in Active Pharmaceutical Ingredients, Intermediates, Excipients, vitamin-mineral blends, and Operations and Management services. The company has not yet issued any statement regarding the incident.
&w=3840&q=100)
Business Standard
a day ago
- 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.
Economic Times
a day ago
- Business
- Economic Times
Sigachi Industries shares plunge 15% after explosion at Telangana plant
Shares of Sigachi Industries plunged 14.8% to Rs 47 on Monday after a massive explosion and fire at its pharmaceutical plant in Telangana's Pashamylaram industrial area. A chemical reactor blast led to at least 10 deaths and over 20 injuries, collapsing one building and sparking investor fears about operational disruptions and regulatory consequences amid the unfolding tragedy. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Sigachi Industries tumbled sharply on Monday, hitting an intraday low of Rs 47 on BSE, down 14.8%, after a major explosion and fire broke out at its pharmaceutical manufacturing facility in the Pashamylaram industrial area, incident has led to multiple casualties, triggering investor concerns over operational disruptions and potential regulatory to media reports, the blast occurred when a chemical reactor exploded during operations, resulting in a devastating fire that engulfed the facility. One building reportedly collapsed completely due to the force of the blast. At least 10 people were reported dead and over 20 others seriously injured, as per initial updates.'A massive explosion at Sigachi Chemical Industry in Pashamylaram, Sangareddy district, has resulted in several deaths and serious injuries. The blast threw workers up to 100 meters away, trapping many in nearby tents as fires continued to rage. Firefighters are on-site battling the flames and conducting rescue operations,' reported news agency PTI on its X from the site showed plumes of smoke rising from the plant, with local authorities and emergency services rushing to evacuate and transport the injured to nearby the company has not yet issued an official statement regarding the extent of the damage or its operational impact, the severity of the accident has weighed heavily on market 1 pm today, shares of Sigachi Industries were trading 13% lower at Rs 48 on the the past year, shares of Sigachi Industries have declined by 20.92%, while the year-to-date (YTD) performance shows a drop of 5.30%. In the last six months, the stock has fallen by 3.97%. However, over the past three months, it has gained 36.24%. For the one-month period, the stock registered a decline of 9.12%.
Time of India
a day ago
- Business
- Time of India
Sigachi Industries shares plunge 15% after explosion at Telangana plant
Live Events Sigachi Industries share price (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Sigachi Industries tumbled sharply on Monday, hitting an intraday low of Rs 47 on BSE, down 14.8%, after a major explosion and fire broke out at its pharmaceutical manufacturing facility in the Pashamylaram industrial area, incident has led to multiple casualties, triggering investor concerns over operational disruptions and potential regulatory to media reports, the blast occurred when a chemical reactor exploded during operations, resulting in a devastating fire that engulfed the facility. One building reportedly collapsed completely due to the force of the blast. At least 10 people were reported dead and over 20 others seriously injured, as per initial updates.'A massive explosion at Sigachi Chemical Industry in Pashamylaram, Sangareddy district, has resulted in several deaths and serious injuries. The blast threw workers up to 100 meters away, trapping many in nearby tents as fires continued to rage. Firefighters are on-site battling the flames and conducting rescue operations,' reported news agency PTI on its X from the site showed plumes of smoke rising from the plant, with local authorities and emergency services rushing to evacuate and transport the injured to nearby the company has not yet issued an official statement regarding the extent of the damage or its operational impact, the severity of the accident has weighed heavily on market 1 pm today, shares of Sigachi Industries were trading 13% lower at Rs 48 on the the past year, shares of Sigachi Industries have declined by 20.92%, while the year-to-date (YTD) performance shows a drop of 5.30%. In the last six months, the stock has fallen by 3.97%. However, over the past three months, it has gained 36.24%. For the one-month period, the stock registered a decline of 9.12%.
