INDIA: KPR Mill shares slide on factory incident
KPR Mill's stock price has continued to fall after seven workers reportedly died from inhaling toxic fumes at its effluent treatment plant in Perundurai, in the Indian state of Tamil Nadu.
Shares were down 3.42% to INR10.59 last week on news of the incident, which occurred at KPR Mill's treatment plant that processes wastewater from the group's dyeing unit.
KPR Mill informed the Bombay Stock Exchange last week that an "accident" had occurred at the company's processing unit on 18 March.
"Consequently its activities have been temporarily discontinued. The company is taking adequate steps to restore its normalcy. However this will not have material impact on the overall performance of the company," it said in a filing to the exchange.
Since then, the firm's shares have continued to slide and today were down 33% to INR10.45 at 12:55 GMT.
The company have not returned a number of requests for comment or information on the reported deaths at the facility.
According to The Hindu Business Line, 11 workers were also taken ill and hospitalised. The police are understood to have initiated action against the company.
- Marks & Spencer to extend mobile phone monitoring
- China tightens on corporate social responsibility
- Outdoor industry's future must be more inclusive
- Factoring: a lifeline for apparel suppliers?
- Tesco's H1 profit plunge: What the analysts say
- Cambodia clothing factory collapse injures eight
- Adidas "Reebok sale" would be admittance of defeat
- H&M and The North Face commit to responsible down
- Bangladesh taps factory inspectors ahead of review
- Collapsed Cambodia factory had structural issues
- Ethiopia – the emerging textile and clothing industry
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Global market review of denim and jeanswear – forecasts to 2020
- Prospects for the Textile and Clothing Industry in Vietnam
- Wool in the 21st Century: new prospects for a familiar fibre