scipaGas Leaks Hits Shares Of Dr Reddy's Laboratories!
December 22nd 2010 10:37
Dr. Reddy's Laboratories Ltd, is one the leading well-established organisation with international reputation. the death of two employees, one who was on contract with the firm. The employees who lost their lives were identified as Choudhury Sridhar Reddy, a chemist, and Deepak Kumar, a casual labourer.
Police investigation reported that the firm's safety standards is to be blamed for the nitrogen gas leak this time, resulting in the loss of two lives and two injured.
This will result in a major dent for the pharmaceutical company for the brand name that they had been barging all these years.
What is more even disheartening is that the nitrogen gas leak occurred in the section of the company located in Bollaram, outskirts of Hyderabad, which is the plant production unit for active ingredients. Now, Dr. Reddy's lab will be under pressure to revise their safety standards at both the national and international level. Until then, Dr. Reddy's laboratories's share will be facing downfall in the stock market, which began today with a 4.13 % in BSE and 4.18% downfall in NSE market. Consequentially, if the lab takes appropriate reconciliations to the family members in loss, they have to face the ups and downs in the stock market until then. Furthermore, they will have to face more expenditure to face and implement the demands of both the national and international safety committees.
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