Orchid Chemicals & Pharmaceuticals has plunged almost 7% to Rs 170 after a fire broke out at the company’s laboratory situated in Chennai.
“There was a fire that broke out in a portion of the New Drug Discovery Laboratories located in the company's research subsidiary Orchid Research Laboratories Limited, Sholinganallur, Chennai," the pharmaceutical company said in a filing to the stock exchanges.
The fire was brought under control by the Tamil Nadu Fire Services squad assisted by the Orchid safety team. There was damage to office and laboratory equipment, furniture and building interiors. However, there were no injuries to anyone, it added.
A combined 1.21 million shares have changed hands on the counter till 1053 hours.
