India's Meghmani Organics down after fire incident at Bharuch plant
17/04/2023 09:55
** Shares of chemical co Meghmani Organics MEGI.NS fall as
much as 3.6% to 88 rupees, hitting lowest level since Apr. 5
** Stock on track for a second consecutive session of loss,
if trends hold
** Co said there was a fire incident in finished goods
warehouse of pigment plant in Bharuch
** Co added, there was no loss of life and the impact of
fire for damages caused is under assessment
** Share price below 50-day, 100-day and 200-day simple
moving averages, suggesting bearish trend
** More than 449,000 shares change hands by 2:17 p.m. IST vs
30-day avg of 648,211 shares
** Stock down 17.6% YTD, as of last close
(Reporting by Ashish Chandra in Bengaluru)
((ashish.chandra@thomsonreuters.com (+91 7982114624))