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Graphite India Ltd updates on Bengaluru plant

Posted On: 2018-10-10 12:56:30

Karnataka State Pollution Board had vide their letter 24th September 2018 pointed out a few areas which needed correction that was observed during the course of the inspection carried out by their Chairman on 19th September 2018. Steps were taken immediately to attend to the observations made. The fact that three out of the four observations stood corrected was informed to the Board vide our letter dated 01st October 2018. The work regarding replacement of roof sheets which was slow due to continuous unseasonal rains, has been accelerated. The Company has pro-actively decided to halt the operations by halting the furnaces in a sequential manner by end October 2018, during the ongoing revamping work. The revamping work in accordance with the Board's observations would be completed by end November 2018.

The Company intends to make up for the production loss during the aforesaid period at its other production facilities and expects total production level to remain unchanged.

Shares of GRAPHITE INDIA LTD. was last trading in BSE at Rs.789.75 as compared to the previous close of Rs. 786.85. The total number of shares traded during the day was 52368 in over 1964 trades.

The stock hit an intraday high of Rs. 808 and intraday low of 783. The net turnover during the day was Rs. 41590040.


Source: Equity Bulls

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