Shares in GAIL drop as company's gas pipeline catches fire

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Shares in GAIL drop as company's gas pipeline catches fire
GAIL India: Quotes, News
BSE 440.45BSE Quote2.25 (0.51%)
NSE 439.95NSE Quote0.6 (0.14%)
Shares in GAIL dropped after the company's gas pipeline in Hyderabad caught fire, resulting in injuries and death. The stock of the company was down one per cent in trade at Rs 455.

At least 14 people were killed and seven others injured in a fire following a blast in a gas pipeline belonging to GAIL in Andhra Pradesh's East Godavari district today, a senior state minister said.

"As per initial reports we have received, 14 deaths have been reported and some more are critically injured and undergoing treatment," Andhra Pradesh Finance Minister Yanamala Ramakrishnudu told reporters here.

According to an official of the East Godavari district, the administration has recovered 13 bodies from the accident site while another death was reported from the hospital where the injured are being treated.
East Godavari District Collector Neetu Kumari Prasad said that the incident took place in the early hours.

"As of now the fire has been brought under control. Fire engines were rushed to the spot and rescue operations are underway," Prasad said.

With inputs from PTI

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