(Reuters) -Premier Explosives said on Wednesday that a fire and blast at one of its factories in South India on Tuesday has killed three individuals and injured six.
Shares of Premier Explosives, which makes propellants for rockets and satellite launch vehicles, were last trading 13% lower.
The fire and explosion, at its Katepally factory in the southern state of Telangana, has damaged building and machinery and the company is ascertaining the losses, Premier said.
The cause for the incident is being investigated, it said.
Local daily New Indian Express reported that villagers staged a protest in front of the factory gates, following the incident, alleging negligence and poor safety standards.
Reuters could not immediately confirm the news of the protest.
The company did not immediately respond to a Reuters request for comment seeking confirmation.
In January, the company disclosed a fire accident at another factory in Telangana state, which killed one individual and injured another.
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala)
