Sigachi Industries Shares Plunge As Reactor Blast In Telangana Causes At Least Eight Deaths

Shares of Sigachi Industries declined over 14% in trade on Monday, after reports of a reactor blast at its facility in Telangana.

Eleven fire tenders had reached the site. At least 26 people were reported injured, while eight were reported dead, according to NDTV. Of those injured, four have sustained serious injuries.

Reports also suggest that around 10 people are trapped in the site.

Sigachi Industries' stock fell as much as 14.7% during the day to Rs 47 apiece on the NSE. It was trading 10.27% lower at Rs 49.4 apiece, compared to a 0.30% decline in the benchmark Nifty 50 as of 12:34 a.m.

The stock has declined 18.15% in the last 12 months and 17.70% on a year-to-date basis. The total traded volume so far in the day stood at 4.7 times its 30-day average. The relative strength index was at 50.9.