Cello World Limited saw a 2% drop in its share price after a fire broke out at one of the furnaces in its wholly owned subsidiary, Cello Industries Private Limited (CIPL). The incident occurred on February 18, 2025, at around 3:00 p.m. IST at the manufacturing facility located in Daman, India.
Fortunately, the fire was quickly brought under control with the help of the local fire brigade, and there were no casualties or injuries reported. The company has assured stakeholders that CIPL has adequate insurance coverage, including a loss of profit policy, ensuring minimal financial impact.
The management is currently in the process of assessing the total loss and has already informed the insurance company about the incident. Investors are advised to stay updated as further details emerge.
Cello World’s stock opened at ₹607.95, reaching a high of ₹608.95 and a low of ₹598.55. The company’s 52-week high stands at ₹1,025.00, while its 52-week low is ₹591.75.
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