Solar Industries says one person dies, eight injured in explosion at Nagpur facility

Shares of Solar Industries India Ltd. declined 3% on Thursday, September 4, after an explosion incident occurred in the crystallisation building at its Chakdoh, Nagpur facility in Maharashtra at 12.33 am.The company, in an exchange filing, said the incident occurred while performing the crystallisation process of an energetic material at the facility.

The safety mechanism systems got activated and the people working in the area were evacuated as per the emergency procedure, before the explosion occurred.

The company said one person died due to the shock impact of explosion and eight persons were injured in areas near the building.The company said it has also intimated the departments concerned and the statutory authorities. The incident is being investigated for all the root and contributory causes and corrective and preventive actions will be implemented, it added.

Solar Industries said the loss is limited to the building only and there is an adequate insurance coverage for the same.

Solar Industries shares were down 2.9% at ₹13,878 apiece around 11.20 am on Thursday. The stock ahs gained 41.5% this year, so far.

Also Read: GST Boost: These beneficiaries hit record highs today; Check upside potential