HIKAL Ltd receives closure notrice for Taloja unit from MPCB

HIKAL Ltd has received a notice from the Maharashtra Pollution Control Board (MPCB) on February 15, 2022, for closure of the Company's Manufacturing Unit located at MIDC Taloja, Dist. Raigad, within 72 hours of the receipt of the said notice, in view of certain alleged non-compliances of the conditional Consent to operate and the recent Surat issue.

The Taloja unit had contributed approx. Rs. 260 crores amounting to around 15% of the turnover of the Company for financial year 2020-21.

The Company is taking appropriate legal measures as advised by counsels before the Pollution Board as well as Courts to remedy the situation and seek reliefs against the Closure Notice.

Hikal being a Responsible Care Certified company stands by its commitment to long term sustainability and ethical way of doing business.

Shares of Hikal Limited was last trading in BSE at Rs. 410.15 as compared to the previous close of Rs. 409.70. The total number of shares traded during the day was 11701 in over 571 trades.

The stock hit an intraday high of Rs. 429.90 and intraday low of 404.45. The net turnover during the day was Rs. 4797383.00.

Source : Equity Bulls

Keywords

Hikal INE475B01022 MPCB ClosureNotice Taloja