Deepak Nitrite fell 3.47% to Rs 1,974.20 after the company informed of a fire which occurred yesterday (June 2, 2022), around the warehouse section of its manufacturing site located at Nandesari, Vadodara district, in the state of Gujarat.
The company said an emergency response team, with support from local authorities, brought the blaze under control within hours.
There were no casualties and few people received first aid.
The company has kept all relevant authorities informed and factory operations are expected to resume within a day or two after clearance of the damaged warehouse. The cause of the fire is under investigation and the company undertakes to provide all assistance to the competent authorities in charge of investigating this matter.
Loss of assets as well as loss of business are covered by insurance, the company said.
Media reports said seven workers were hospitalized after inhaling smoke, while some 700 people living near the plant were moved to safer locations. While several firefighters were dispatched to the scene, initial reports show damage to much of the factory premises due to the fire and explosions, reports added.
Deepak Nitrite manufactures intermediates and specialty chemicals in addition to performance products and phenol. The company has facilities in Nandesari and Dahej in Gujarat, Roha and Taloja in Mahrashtra and Hyderabad.
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