Shares of Solar Industries India Ltd fell 2% on 4th September after touching a day’s high of Rs 14,378, following an explosion in the crystallisation building at its Chakdoh facility in Nagpur, Maharashtra, at 12:33 AM.

Solar Industries said the explosion took place during the crystallisation process of an energetic material at its Nagpur facility.

The safety systems were activated, and workers in the area were evacuated under emergency procedures before the blast. Despite this, one person died from the shock impact and eight others were injured in nearby areas.

The company informed the relevant departments and authorities, and an investigation is underway to identify the causes. Corrective and preventive measures will follow.

Solar Industries added that the damage is limited to the building and is fully covered by insurance.

At 1:42 PM, the shares of Solar Industries were trading 1.89% lower at Rs 14,023 on NSE.

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