Fire accident at Punjab Chemicals' agro plant

Punjab Chemicals and Crop Protection reported the exchanges about a fire accident which occurred at one of the company’s agro division plant in Derabassi in Punjab.

The fire accident at one section of the company's agro chemical division at Derabassi in Mohali district of Punjab occurred on July 10, 2019. According to the report, the fire was brought under control with the help of fire brigade. The company is in the process of calculating the actual loss caused due to the fire. As the assets of the company are adequately covered under insurance, the insurance company has been alerted about the incident by the company. The company has stated that they are taking adequate steps to ensure smooth re-functioning of the plant as soon as possible. The intimation of the fire incident was given by the company to the exchanges after trading hours.

Punjab Chemicals and Crop Protection Limited has business operations in chemicals, bulk drugs and intermediates, fertilizers, seed inoculant and bio range products.

On Thursday at the opening bell, the stock of the company was at Rs. 601.10, down by 1.92 per cent or Rs. 11.75 per share. The stock's 52-week high was Rs. 764 and 52-week low was Rs. 528 on the BSE.