Sigachi Industries Share Price Plunges 12% After Blast at Telangana Plant

Market Performance

The share price of Sigachi Industries declined sharply on Monday, reacting to news of a blast at its Telangana plant.

• The stock dropped by 12.3% to hit a low of ₹48.39 apiece on the BSE.
• As of noon, it was trading at ₹48.96, down by 11.27%.

Trading activity also surged following the development:

• 2 Crore equity shares changed hands during the session.
• This volume is notably higher than:
  • 1-week average: 65 lakh shares
  • 1-month average: 71 lakh shares

The spike in trading volume indicates increased investor activity and market reaction to the incident.

Main News: Blast at Telangana Facility

A significant incident unfolded at Sigachi Industries' plant in Pasamailaram Phase 1, Sangareddy district, Telangana, on Monday.

According to reports:

• A reactor blast occurred at the company's premises.
• 11 fire tenders were dispatched to the location for firefighting operations.
• The incident led to injuries to 15–20 individuals, according to Telangana Fire Officials.

Rescue Efforts Underway

• Rescue operations are currently underway, led by local authorities.
• According to Superintendent of Police Paritosh Pankaj, no casualties have been reported so far.
• Further updates are expected as the rescue progresses.

News visuals captured by PTI displayed smoke emerging from the site, underscoring the severity of the explosion.

Company Details: Sigachi Industries

Sigachi Industries is a known name in the Indian pharmaceutical and chemical manufacturing sector.

The company's facilities are involved in producing a range of pharmaceutical-grade products.

The affected unit, Sigachi Pharma, is situated in the Pasamailaram Phase 1 industrial area, a prominent industrial zone in Telangana.

While the nature of the blast remains under investigation, it has already had a significant impact on market sentiment and the company's share price performance.

Summary of the Article

• Sigachi Industries' share price fell over 12% amid reports of a reactor blast at its Telangana unit.
• The incident led to injuries to 15–20 people, as reported by local fire officials.
• 11 fire tenders responded to the emergency, and a rescue operation is still ongoing.
• The market reacted strongly, with the stock touching a low of ₹48.39 on the BSE.
• Trading volumes surged, reaching two Crore shares, far above recent averages.

This development has raised concerns about operational safety, leading to increased market activity and heightened media attention.