Production disrupted in Sareri plant of Sangam India

Sangam India Ltd has announced that on June 23, 2007 a worker died in bus accident at its Sareri Plant. The agitated workers put a Road Jam on the adjacent national highway for 5 hours. In the meantime some miscreants put fire on some of the machines in one plant due to which partial damage was caused in one section of the plant. The plant is fully insured.

The rest 5 plants at Sareri are working normally; effective steps have been taken to restore the affected portion of the affected plant. The loss of production due to above mishap till restoration is estimated to be about 400 tons which is insignificant.

The stock closed the day at Rs.62.90, down by Rs.0.05 or 0.08%. The stock hit an intraday high of Rs.63.90 and low of Rs.62. The total traded quantity was 46966 compared to 2 week average of 49135.

Source : Equity Bulls

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