Valiant Organics' Gujarat plant witnessed a blast; stock tumbles ~4%

6 Jun 2022 , 02:49 PM

Valiant Organics’ counter slid nearly 3% in today’s trade following the company’s announcement that a blast had occurred in the chlorination section of its plant located at GIDC, Sarigam, Valsad, Gujarat.

The company further stated that the incident occurred on June 3, 2022, at around 9.50 AM. The incident does not cause any loss of life, but one person got injured minorly and is undergoing treatment.

The company has reported the incident to the concerned authorities and the exact cause is being investigated to take adequate corrective steps, stated the company in its filing.

Post this development, the company’s stock slipped by 3.10% so far at Rs667.15, against its previous close of Rs688.50. It has touched intraday high and low of Rs680, and Rs664.95 respectively.