Camlin Fine gets closure notice from Maharashtra Pollution Control Board

The company has initiated the necessary steps with the concerned authorities to resolve the matter.

Jan 16, 2020 09:01 IST India Infoline News Service

Shares of Camlin Fine Sciences touched 5% lower circuit on the BSE. The company received closure direction from the Regional Officer, Maharashtra Pollution Control Board (MPCB) for the closure of the company's manufacturing unit situated at Tarapur.

“The company has received closure direction from the Regional Officer, Maharashtra Pollution Control Board ("MPCB") for the closure of the Company's manufacturing unit situated at Plot D- 2/3, MIDC, Tarapur, District Palghar, within 72 hours from receipt of the aforementioned directions. These directions are issued on account of certain alleged irregularities by the Company in complying with MPCB's terms and conditions,” the company said in the filing.

The company has initiated the necessary steps with the concerned authorities to resolve the matter. The impact of the said directions is contingent upon the outcome of the company's representations before the concerned authorities, it added.

Stock view:
Camlin Fine Sciences Ltd is currently trading at Rs78.95, down by Rs4.15 or 4.99% from its previous closing of Rs83.10 on the BSE.

The scrip opened at Rs84 and has touched a high and low of Rs85.85 and Rs78.95 respectively.

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