Fire incident at ITI Limited's Rae Bareli plant

A fire incident occurred at ITI Limited's Rae Bareli plant in Uttar Pradesh on 27th November 2020. It took around three hours to extinguished the fire successfully.

The probable cause of fire was short circuit. It has affected the production of HDPE shop, partially. As per preliminary assessment, the approximate loss / damage of capital equipment / infra is of the value of approximately Rs 1.5 crore. The Company has insurance coverage for this and will take necessary action for lodging insurance claim.

Shares of ITI LTD. was last trading in BSE at Rs.124.15 as compared to the previous close of Rs. 123.75. The total number of shares traded during the day was 59266 in over 1106 trades.

The stock hit an intraday high of Rs. 126.9 and intraday low of 123.7. The net turnover during the day was Rs. 7401610.

Source : Equity Bulls

Keywords