Operations at Nile Ltd's Tirupati plant interrupted

The Government of India, with a view to ensure availability of Oxygen in hospitals, instructed all state governments to stop supply of liquid Oxygen to industries which are not in exempted categories. Accordingly, Oxygen supplies to Tirupati Lead recycling plant have been interrupted.

The company requested the Government of Andhra Pradesh to permit resumption of Oxygen supply to the factory since it is in the exempted category, and are waiting for the Government's decision.

In the meantime, the smelting operation in rotary furnaces has stopped, but the refining operations are continuing.

Other recycling plant in Telangana does not use liquid Oxygen, and the operations at this plant are not affected.

Shares of NILE LTD. was last trading in BSE at Rs.319.7 as compared to the previous close of Rs. 302.65. The total number of shares traded during the day was 4759 in over 148 trades.

The stock hit an intraday high of Rs. 340 and intraday low of 305. The net turnover during the day was Rs. 1546041.

Source : Equity Bulls

Keywords