Aether Industries hits 52-week low after blast at its chemical plant kills seven, injures 24

Aether Industries Surat fire news, Aether Industries share price: Shares of Aether Industries declined over six per cent to hit its 52-week low of Rs 778 apiece on NSE, continuing the losing streak for the second straight day after a blast in its storage tank in Surat killed seven people and injured 24. The cause of the explosion early on Wednesday was yet to be determined, said city fire official Omprakash Mishra, although the fire it started had been put out. Aether Industries shares ended at Rs 780.8, down 48.6 or 5.86 per cent on NSE.

"We have found seven dead bodies from the factory," J. R. Chaudhari, a police officer based near the site of the blast in Gujarat state, told Reuters, adding that authorities were now calling off a search for missing workers. Twenty-four injured workers were being treated in the hospital, Mishra added.

"We hereby inform that an incident of fire was reported at Manufacturing Site of the Company at Plot No. 8203, GIDC Sachin, Surat, today early morning around 01:50 Hrs," the company' regulatory filing read. "Injuries of approximately 25 people has been reported. Though, no causalities have been reported," the filing futher read.

Aether Industries share price history

YTD, Aether Industries shares have given a negative return of nearly 10 per cent. (January 2, 2023).

What does Aether Industries do?

Based out of Surat (Gujarat, India), Aether Industries focuses on producing advanced intermediates and speciality chemicals involving complex, differentiated chemistry and technology core competencies. 

The company's products find application in the pharmaceutical, agrochemical, material science, coating, high performance photography, additive, and oil and gas segments of the chemical industry, according to its official website.

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