Mon Jun 30 08:30:00 UTC 2025: **Tragic Blast at Sigachi Pharma Plant Kills 8, Injures Dozens; Stock Plummets**
**Sangareddy, Telangana, India** – A devastating explosion at the Sigachi Pharma plant in Sangareddy district, Telangana, has claimed the lives of eight people and left 26 injured, according to local authorities. The incident occurred on Monday at the Pasmailaram Phase 1 facility, triggered by a reactor blast.
Sangareddy police report the explosion happened during normal operations at the Sigachi Chemicals Industry. Six bodies were recovered from the scene, while two injured individuals succumbed to their injuries in the hospital.
The immediate aftermath of the explosion sent shockwaves through the stock market. Shares of Sigachi Industries experienced a sharp decline, plummeting as much as 15% during the day. The stock closed at ₹48.95, down 11.19% from Friday’s close of ₹55.23. The company’s market capitalization decreased to ₹18.6 billion.
Sigachi Industries, established in 1989, is a manufacturer of pharmaceutical excipients and chemicals, specializing in microcrystalline cellulose (MCC) used in pharmaceutical and cosmetic products. The incident is expected to disrupt the company’s production plans and impact investor confidence.
Sigachi Industries gained popularity after its IPO in November 2021.
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