Aarti Drugs shares surged nearly 4% as GPCB permanently revoked closure order of Sarigam Plant. Shares of Aarti Drugs (AARTIDRUGS) gained as much as 3.9% to ₹454.7.
As of 1:38 pm, the shares were trading 2.36% higher at ₹448.05
The company, in an exchange filing, stated:
“Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform the exchanges that the company has received an order from the Gujarat Pollution Control Board (GPCB) directing for permanently revoking the closure order of Sarigam Plant in Gujarat, dated March 30, 2022. The letter is appended below.
The Gujarat Pollution Control Board had issued a Closure Direction for the Sarigam Plant, which manufactures Metformin Hydrochloride, under Section 5 of the Environment (Protection) Act, 1986, dated March 30, 2022, for the reasons stated therein. Subsequently, a trial revocation on closure was issued on April 30, 2022, and the plant has been operational since then.
There is no impact on financial, operational, or other activities of the Company pursuant to the order therein.”
