Bajaj Healthcare shares slip after fire incident at Gujarat plant
Premium- Bajaj Healthcare said due to prompt action by alert staff the fire was brought under control and no loss or injury to human life has occurred in the incident
Mumbai: Shares of Bajaj Healthcare fell as much as 7.28% on Monday after the company reported a fire mishap at one of its units situated at Bharuch, Gujarat on Sunday.
The shares, however, recouped some losses and settled at ₹968.05, down 3% from the previous close, while the benchmark index Sensex ended flat at 52,373.
Since the beginning of the calendar year, shares of Bajaj Healthcare have more than doubled against a rise of 9.57% in the Sensex.
"Due to prompt action by alert staff the fire was brought under control and no loss or injury to human life has occurred in the incident. However, the Company is ascertaining the extent of loss and has already informed to the Insurance Company as the entire factory and goods therein are adequately insured," the company said in a statement.
The company said it is taking steps to ensure normal operation at the plant at the earliest.
Bajaj Healthcare Ltd reported a 69.43% year-on-year rise in consolidated net profit to ₹21.28 crore for the quarter ended 31 March 2021 against ₹12.56 crore for the same quarter last year. Net sales rose 11.54% to ₹132.18 crore in March 2021 quarter over ₹118.49 crore for the corresponding quarter last year.
The company is a leading manufacturer of APIs, intermediates and formulations.
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