Sigachi Industries shares plunge 15% after explosion at Telangana plant
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, Telangana.
The incident has led to multiple casualties, triggering investor concerns over operational disruptions and potential regulatory fallout.
According 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 8 people were reported dead and over 20 others seriously injured, as per initial updates.
“A massive explosion at Sigachi…
