Jindal Poly Films’ stock falls 4% as production ‘disturbed temporarily’ after blast at Nashik plant

By admin On Jan 2, 2023

Jindal Poly Films on Monday said a fire accident occurred at its Igatpuri plant on January 1 and that it is in the process of ascertaining actual loss caused by the accident. At 1400 hours on Monday, the company’s stock on BSE was trading 4.2% lower at Rs 763.

“It is hereby informed that a fire accident took place at plant situated at 28th Km Stone, Nashik lgatpuri Road NH-3, Village Mundhegaon, Taluka Igatpuri, Distt. Nashik, Maharashtra, India, on 01st January 2023 at around 11.30 a.m. IST. Fire was controlled, but, production operation at part of the said plant is disturbed temporarily. The cause of fire will be assessed in due course and the company is also in the process of ascertaining the actual loss caused by said accident,” said Jindal Poly Films in a stock exchange filing.

Adequate insurance coverage for the said plant and intimation to insurance company has
already been made, said Jindal Poly Films.

Two workers were killed and 17 others injured in a massive fire triggered by a blast in a boiler of the chemical factory in Maharashtra’s Nashik district on Sunday, police officials said on Sunday.

The blast in the Jindal Poly Films factory, located in Mundhegaon along the Mumbai-Agra highway in Igatpuri taluka, was so strong that it was heard in nearby villages. The fire and smoke could be seen from a distance. The incident occurred around 11.30 am, they said. Maharashtra Chief Minister Eknath Shinde visited the accident site and later also met the injured persons admitted to a hospital. ”The fire in Jindal company was huge. The reason behind it is not known yet. A high-level inquiry of the incident will be conducted. As many as 19 employees were injured in the incident and two of them lost their lives. The next of kin of each deceased will get Rs 5 lakh aid from the state government and the injured will get free medical treatment,” Shinde said.

Mundhegaon is located about 30 km from Nashik and 130 km from Mumbai.

Fire brigade, police, and disaster response force teams rushed to the spot to launch a rescue operation.