New Delhi, Jun 30 (PTI) Shares of pharmaceuticals firm Sigachi Industries Ltd tanked over 11.50 per cent on Monday after an explosion broke out at its manufacturing facility in Telangana, killing at least 12 people and injuring several others.

The stock plunged 11.58 per cent to settle at Rs 48.79 apiece on the BSE. During the day, it lost 14.82 per cent to Rs 47.

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On the NSE, the stock cracked 11.19 per cent to Rs 48.95.

At least 12 people died and 34 persons were injured in a pharma plant explosion on Monday, Telangana Minister Damodara Raja Narasimha said.

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The explosion took place at a reactor in the plant of Sigachi pharma company in the Pashamylaram industrial estate due to the suspected chemical reaction where fire also broke out.

Sigachi Industries Limited is a pharmaceutical company dedicated to pioneering advancements in Active Pharmaceutical Ingredients (APIs), Intermediates, Excipients, vitamin-mineral blends, and Operations and Management (O&M) services, according to the company's website.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)