9 months ago
Indokem Shares Plummet After Pollution Board Orders Unit Closure
Indokem's stock price dropped sharply after the Maharashtra Pollution Control Board told the company to close one of its factories for breaking pollution rules.
The company is trying to fix the problem and is talking to the authorities about it.
This might affect how the company works and makes money in the near future.
People who own Indokem's stock and others in the market are watching to see what happens next.
Indokem Limited shares hit lower circuit of 5% on Tuesday
Maharashtra Pollution Control Board ordered closure of Ambarnath unit for environmental violations
Company is assessing damage and planning to appeal the decision
Operations and financial outcomes may be impacted in the near term
Scrutiny on industry compliance is high
- Who
- Indokem Limited
- What
- Received order to close Ambarnath manufacturing unit
- Where
- Ambarnath, Maharashtra, India
- When
- Tuesday, unspecified date
- Why
- Alleged environmental violations
Indokem Limited
Maharashtra Pollution Control Board
Compliance with Laws
Indokem Limited
Indokem maintains it has always complied with environmental and other statutory laws
Maharashtra Pollution Control Board
MPCB alleges violations of Water and Air Pollution Prevention and Control Acts
Key facts
- Stock Movement
- Fell 5% to Rs 829.15
- Market Capitalisation
- ₹2,312 crore
- 52-Week High
- ₹930
- 52-Week Low
- ₹72.50
- Monthly Return
- 51.15%
- Six-Month Return
- 336.62%
- Cumulative Return Since Listing
- 4,506.39%
Quotes
Indokem Limited (Company)
A company specializing in chemical manufacturing
“The company has received a notice from the Regional Officer, Maharashtra Pollution Control Board (MPCB), Kalyan, Dist. Thane, directing the closure of the Company’s manufacturing unit situated at Plot No. 128, Chikhloli MIDC, Ambernath, Taluka Ambernath, Dist. Thane, within 72 hours from receipt of the said notice, for alleged violations of the Water (Prevention and Control of Pollution) Act, 1974, the Air (Prevention and Control of Pollution) Act, 1981, and the rules framed thereunder”
businesstoday.in
