Trident slips after announcing fire outbreak in Budhni

Trident declined 2.72% to Rs 13.60 after the company said that a major fire has been broken out on Monday in the cotton warehouse located in the manufacturing facilities at Budhni, Madhya Pradesh.

Trident in an exchange filing made after market hours on Monday announced that the fire has resulted in major damage of stocks of cotton, lying in the warehouse. The actual quantum of loss/damage cannot be ascertained at this point of time.

The company said that it is proactively monitoring the situation and taking necessary steps for the safety and well-being of the manpower. Furthermore, the company said the loss/damage is adequately covered by insurance and it has informed the insurance company about the fire Incident.

Punjab-based Trident is a vertically integrated textile (yarn, bath & bed linen) and paper (wheat straw-based) manufacturer and is one of the largest players in home textile space in India.

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