Sabero Organics Gujarat is trading lower by 3.3% at Rs 125 after the company said that it has received a letter from Gujarat Pollution Control Board (GPCB) to close production process at its Sarigam unit due to non-compliances of the environmental parameters.
The stock opened at Rs 127 and touched a low of Rs 118 in early morning deals on BSE. A combined 38,000 shares have changed hands on the counter so far on BSE and NSE.
The company has been making significant investments in the last two years for improving the environmental Infrastructure and has been adhering to the environmental standards. The company is taking necessary steps to address the concerns expressed by GPCB and to seek their permission to continue the operations, it added.
The stock opened at Rs 127 and touched a low of Rs 118 in early morning deals on BSE. A combined 38,000 shares have changed hands on the counter so far on BSE and NSE.
The company has been making significant investments in the last two years for improving the environmental Infrastructure and has been adhering to the environmental standards. The company is taking necessary steps to address the concerns expressed by GPCB and to seek their permission to continue the operations, it added.