Sigachi Shares Plunge 7% as CEO Remanded Over Deadly Plant Fire

• Sigachi Industries' shares fell 7% to a two-year low after CEO Amit Raj Sinha was remanded in a plant fire investigation.
• The remand follows a massive fire and explosion on June 30 at the Hyderabad plant, which resulted in 46 deaths and multiple injuries.
• CEO Amit Raj Sinha is accused number two, with six company individuals facing charges related to the fatal accident.
• Deputy Group CEO Lijo Stephen Chacko has taken over operations to ensure business continuity during this period.
• Since the June 30 incident, Sigachi Industries' shares have dropped about 42%, hitting a new 52-week low.

Why It Matters: Sigachi shares hit 2-year low as CEO remanded over deadly plant fire, impacting company operations.