Sarda Energy & Minerals Ltd. (SEML) witnessed a 2% drop in share prices after reporting a fire incident at one of its Independent Power Plant (IPP) units in Binjkot, Raigarh, on February 25, 2025. As of 9:50 AM, the shares were trading 2.21% lower at Rs 464.85.
The cause of the fire is still under investigation, but the company assured that swift emergency measures helped contain the situation, ensuring the safety of all personnel. Preliminary assessments indicate limited property damage, though a detailed evaluation will be conducted after further inspection of the affected machinery.
While one unit is temporarily shut down for restoration, the other unit remains fully operational. The company expects a temporary production loss but emphasized that its assets are fully insured, including coverage for potential profit losses, subject to standard closure conditions.
SEML is actively working on restoring full operations and will keep stakeholders informed of any major developments.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
