Sabero Organic Gujarat has rallied over 8% to Rs 157, extending its past seven days rally, after the Gujarat Pollution Control Board (GPCB) revoked its closure order of the company’s Sarigam unit for a period of 3 months.
The stock of agrochemicals maker is currently trading at its 52-week high on the BSE, rallied 33% in eight trading sessions compared to 1.7% rise in benchmark S&P BSE Sensex.
“The GPCB, subsequent to their visit and inspection of the company's unit, has vide its letter dated November 30, 2013 has revoked its closure order for a period of 3 months during which period company will ensure adherence of guidelines stipulated by GPCB,” Sabero Organics said in a statement.
The management is confident that the company would be able to meet all the requirements and the matter would be settled once and for all.
GPCB had in an earlier announcement dated November 18, 2013, ordered to close the operations at the company's Sarigam unit for alleged non-conformance of certain environmental norms.
The stock of agrochemicals maker is currently trading at its 52-week high on the BSE, rallied 33% in eight trading sessions compared to 1.7% rise in benchmark S&P BSE Sensex.
“The GPCB, subsequent to their visit and inspection of the company's unit, has vide its letter dated November 30, 2013 has revoked its closure order for a period of 3 months during which period company will ensure adherence of guidelines stipulated by GPCB,” Sabero Organics said in a statement.
The management is confident that the company would be able to meet all the requirements and the matter would be settled once and for all.
GPCB had in an earlier announcement dated November 18, 2013, ordered to close the operations at the company's Sarigam unit for alleged non-conformance of certain environmental norms.