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The stock of Nagarjuna Agrichem could react negatively to the news of a fire accident at its factory in Andhra Pradesh’s Srikulam district on Saturday. A reactor exploded in the unit situated in Chilakapalem, Etcherla mandal, setting block No.5 on fire and injuring 14 workers. The plant produces pesticide technical formulations and the products are sold in over 20 States. A press release from the company said, “there are no casualties in the unfortunate accident which occurred in the plant at around 9.30 a.m. It is now under control.” However, the effect on operations cannot be immediately ascertained. Nagarjuna Agrichem has neither disclosed the financial impact nor about the damage to the unit. The stock on Friday closed at Rs 80.45, which is also its month high.
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