Ashapura Minechem Ltd has announced that a fire broke out on the evening of November 16, 2008 at the Corporate / Registered Office of the Company at the third floor of Jeevan Udyog Building, D N Road, Fort, Mumbai - 400 001. One of the Offices was completely engulfed and damage was caused to the others.
The Company is not presently in a position to ascertain the actual loss and damage caused, but amongst others various records, documents, physical assets, systems, computers etc. have been completely destroyed.
Further, an unfortunate incident on the same date also took place at the Company's Plant at Trivendrum, wherein a mob of 300 - 400 people entered the plant, completely ransacked it and set it on fire. The damage is yet to be ascertained.
There have been no casualties in both the above mentioned incidents and the relevant authorities have been informed of the same.
Both the Properties are sufficiently insured and the Company express no financial impact on account of the same.
The Stock closed the day at Rs.25.95, down by Rs.1.70 or 6.15%. The stock hit an intraday high of Rs.28.95 and low of Rs.24.90.
The total traded quantity was 96450 compared to 2 week average of 125712.