Laurus Labs Ltd. on Tuesday said that four employees of the company were killed in a fire accident at its plant in Andhra Pradesh.
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A flash fire erupted on Monday evening at one of the blocks of the company’s API (active pharmaceutical ingredient) manufacturing plant in Anakapalli district near Visakhapatnam.
The company has launched an investigation into the incident.
According to reports, local police said the incident happened during ongoing maintenance work at the plant.
State Industries minister Amarnath informed that the chief minister Jagan Mohan Reddy has announced compensation of Rs 25 lakh for the families of the deceased workers.
Shares of Laurus Labs are trading 2.2 percent lower at Rs 373.30.