Atul fell 1.37% to Rs 357 at 11:51 IST on BSE after the company said it stopped manufacturing activity at its Tarapur factory after the Maharashtra Pollution Control Board issued notice.
The company made the announcement after market hours on Tuesday, 22 OCtober 2013.
Meanwhile, the BSE Sensex was down 143.78 points, or 0.69%, to 20,721.19.
On BSE, 1,627 shares were traded in the counter compared with average volume of 5,465 shares in the past one quarter.
The stock hit a high of Rs 361 and a low of Rs 356.95 so far during the day. The stock hit a record high of Rs 472.25 on 11 December 2012. The stock hit a 52-week low of Rs 280.20 on 26 June 2013.
The stock had outperformed the market over the past one month till 22 October 2013, rising 10.65% compared with the Sensex's 2.97% rise. The scrip had also outperformed the market in past one quarter, gaining 9.50% as against Sensex's 3.50% rise.
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The small-cap company has an equity capital of Rs 29.66 crore. Face value per share is Rs 10.
Atul said that the Maharashtra Pollution Control Board (MPCB) vide its notice dated 15 October 2013 directed the Tarapur factory of the company to stop manufacturing activities. The company said it has already replied to the said notice and has requested for a revocation of the closure. The company added that it hopes to resume operations soon with the approval of MPCB.
The stoppage of work is not expected to have any significant long term impact on the operations/profitability of the company, Atul said in a statement.
Net profit of Atul rose 7.92% to Rs 40.45 crore on 2.57% rise in net sales to Rs 508.33 crore in Q1 June 2013 over Q1 June 2012.
Atul has seven businesses, namely, aromatics, bulk chemicals & intermediates, colors, crop protection, floras, pharmaceuticals & intermediates, and polymers.
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