Fire breaks out at Sequent Scientific subsidiary's API facility in Visakhapatnam; Stock under pressure

10 May 2022 , 10:11 AM

Sequent Scientific Ltd has informed to the exchanges that there was an incident of fire at its wholly owned subsidiary Alivira Animal Health Limited’s (Alivira) API facility in Visakhapatnam at around 7:30 pm on Saturday, May 7, 2022.

As per the filing, the fire was brought under control soon. There were no casualties or injuries to anyone on site. While manufacturing activities have been affected temporarily, the initial assessment indicates that there might not be any material financial impact on account of this incident, said company.

Further, the Company has appropriate insurance in place for the unit. The Company has also informed all concerned statutory authorities about the fire incident.

At around 10:12 AM, Sequent Scientific was trading at Rs130.70 apiece down by Rs0.8 or 0.61% from its previous closing of Rs131.50 apiece on the BSE.