BENGALURU, Dec 1 (Reuters) – Indian specialty chemical compounds maker Aether Industries (AETH.NS) mentioned on Friday that it was ordered by the air pollution management board of Gujarat on Nov. 30 to cease manufacturing at its blast-affected website in Surat till additional directions.

A storage tank blast killed seven folks and injured 24 at one of many firm’s crops within the port metropolis in Gujarat state, Aether Industries confirmed on Thursday.

“We firmly believe that the closure direction is subject to reconsideration, and we have expressed our stance on the matter to the relevant authorities,” Aether mentioned in a press release.

The explanation for the explosion, which occurred early on Wednesday, is but to be ascertained, a metropolis hearth official Omprakash Mishra had mentioned.

Shares of Aether Industries have been up 2.1% on Friday, a day after tumbling to a one-year low within the aftermath of the incident.

The firm had mentioned it will cowl the medical bills of the injured staff and provides 2.5 million rupees ($29,998) per particular person “in case of any permanent disability”.

It additionally promised to provide extra compensation of 5 million rupees to the households of the deceased.

($1 = 83.3380 Indian rupees)

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