Shares of IOL Chemicals and Pharmaceuticals Ltd declined sharply today, falling 2.77% to ₹64.25, following a tragic gas leak incident at its factory premises in Fatehgarh Channa village, Barnala, Punjab. The stock slipped from its previous close of ₹66.08 amid investor concerns over operational safety and regulatory scrutiny.
According to CNBC-TV18, four individuals were injured and one worker lost his life due to the gas leak that occurred early Sunday morning. Barnala DSP Satvir Singh confirmed that the incident took place around 5:30 am at IOL Chemicals’ plant. Preliminary investigations suggest the leaked gas was hydrogen sulfide (H₂S), a highly toxic substance, released accidentally during a procedural operation involving the excessive use of hydrochloric acid (HCl).
The deceased, identified as Anmol Chhimpa from Phoolkan, Haryana, was pronounced dead at the site. His body has been sent to Barnala Civil Hospital for a post-mortem. Three other workers—Yugam Khanna from Hisar, Vikas Sharma from Maujgarh in Fazilka, and Lovepreet Singh from Fatehgarh Channa—were hospitalized. Two critically injured workers were referred to CMC Hospital in Ludhiana, while one was discharged after treatment.
Police officials, including Inspector Lakhveer Singh from Dhanaula police station, reached the spot promptly after being alerted. A preliminary investigation by deputy director of factories Sahil Goyal indicated that the leakage was accidental and no individual was at fault.
Sub-Divisional Magistrate (SDM) Harpreet Singh Atwal assured that the families of the victims would be provided financial assistance. The family of the deceased has declined to pursue any legal action, and the company will extend support as per its policy.
The incident has raised safety concerns among investors, contributing to the sharp fall in IOL Chemicals’ share price during today’s session.
