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A factory accident that happened today in one section of a Multi-Product Plants (MPP) at PI Industries Ltd’s Jambusar fine chemicals manufacturing site in Gujarat. This accident unfortunately resulted in two fatalities and nine others are injured.

The accident did not result in any fire or hazardous emissions but was limited to one MPP and has not affected operations of the other MPPs at the site.

In compliance with the company’s protocols, investigation has been initiated to determine the root cause (Hazop) of the accident. While the impact of the incident is being ascertained, the damaged equipment are fully covered by way of insurance.

Shares of PI Industries Ltd was last trading in BSE at Rs.1425 as compared to the previous close of Rs. 1445.25. The total number of shares traded during the day was 5811 in over 880 trades.

The stock hit an intraday high of Rs. 1443.85 and intraday low of 1388.7. The net turnover during the day was Rs. 8212723.

Source: Equity Bulls
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