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Abhishek Industries Operations disrupted due to explosion in Chemical Storage Tank

Posted On: 2010-07-02 02:12:07


Abhishek Industries Ltd has announced that there had been an explosion of the Chemical Storage tank which was stationed outside the Terry Towel Unit of the Company (Unit No - 3) situated in the Lotus Integrated Texpark Ltd (Textile Park) at Mansa Road, Dhula (Punjab).

The explosion took place in early morning of July 1, 2010 and has caused loss to the building, plant a machineries, and stock stored in the various units situated under the Textile Park which among others include Unit No - 3 of Terry Towel division of the Company. The Unit No - 3 of Terry Towel division of the Company houses 42 looms. Since the Textile Park is situated adjacent to the other manufacturing facilities of the Company; the explosion has also caused losses to the nearby buildings. plants of machineries and stocks of other units of the Terry towel, Paper and Energy division of the Company.

The Company has deployed dedicated technical team to take corrective measures to bring operations of the Terry towel, Paper and Energy division of the Company to normalcy and expects that these should come to the normal operations shortly.

The exact loss due to this explosion is being evaluated by a team of experts. However, there has not been any loss or injury to any employee or person inside or outside the plant on account of the above said explosion.

The stock was trading at Rs.16.35, up by Rs.0.05 or 0.31%. The stock hit an intraday high of Rs.16.90 and low of Rs.16.15.

The total traded quantity was 389778 compared to 2 week average of 366950.


Source: Equity Bulls

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