Hikal share price rises nearly 2% after GPCB withdrawn closure order

The share touched a 52-week high of Rs 427.95 and a 52-week low of Rs 244.95 on 03 January, 2023 and 11 August, 2022, respectively.

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Hikal share price rose nearly 2 percent in the early trade on August 7 after Gujarat Pollution Control Board (GPCB) revoked a closure order for the Panoli facility.

On July 23, GPCB directed the company to cease operations of its plant located at GIDC Panoli, Dist. Bharuch, within 15 days from the order date, for alleged violations of certain provisions of the Environment (Protection) Act, 1986 and the Rules framed there under.

The company has clarified all the queries raised by GPCB.

The Panoli facility continues to operate as normal with no interruption in production activities and we are hopeful of complete revocation of the closure order very soon, the company added.

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A meeting of the board of directors of the company is scheduled to be held on August 8, 2023, to consider, approve and take on record the standalone and consolidated unaudited financial results of the company for the quarter ended June 30, 2023.

At 09:28 hrs Hikal was quoting at Rs 298.80, up Rs 4.25, or 1.44 percent on the BSE.

The share touched a 52-week high of Rs 427.95 and a 52-week low of Rs 244.95 on 03 January, 2023 and 11 August, 2022, respectively.

Currently, the stock is trading 30.18 percent below its 52-week high and 21.98 percent above its 52-week low.

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