Meghmani Organics Share Price Wrecked, Volume Spurts

Yesterday Fire broke out at the Dahej Plant of Meghmani organics. The fire accident happened at 10:25 p.m on Wednesday in one of the Manufacturing Sections at its Pigment Manufacturing Division situated in Dahej, Bharuch, Gujarat, (India). Only one manufacturing section of Beta Blue got affected due to fire from among the four manufacturing sections. No one got injured in the fire, and the company is ascertaining the loss and is trying to figure out the reason of the fire breakout. The plant at Dahej has the capacity of 10,800 mtpa while the total capacity stands at 31,140 mtpa.

This accident has caused vast wreckage to the Meghmani Organics Share Price which dropped by around 9% and was trading at Rs. 43.85. The scrip opened at Rs. 48.25 and that was its intraday high for the day. Meghmani Organics went as low as 42.50 intraday. But the volume of the stock traded has experienced a surge despite everything.

Company Genesis:

Meghmani Organics Limited was incorporated in the year 1986 when Gujarat Industries was established as a partnership firm in Gujarat for manufacturing pigments. Due to High productivity and profitability in 1995, Gujarat Industries transformed to a joint stock company, under the name of Meghmani Organics Limited and since then the company hasn’t looked back.

The stock is recognized by dynamic levels as the Multibagger Stock for the month.The volume shows that the stock is traded in high volumes with or without the decline in Meghmani Organics Share Price. For resistance and support level of Meghmani Organics, visit the Meghmani Organics share price forecast page of the Dynamic Levels. Also, visit the Meghmani Organics Share Price History page for more details on the stock.