Deepak Nitrite slips on receiving order to close one of facilities in Hyderabad

07 Oct 2016

Deepak Nitrite is currently trading at Rs. 121.60, down by 4.55 points or 3.61% from its previous closing of Rs. 126.15 on the BSE.

The scrip opened at Rs. 125.95 and has touched a high and low of Rs. 125.95 and Rs. 120.60 respectively. So far 55,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 134.25 on 09-Sep-2016 and a 52 week low of Rs. 56.10 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 131.90 and Rs. 119.90 respectively. The current market cap of the company is Rs. 1,412.90 crore.

The promoters holding in the company stood at 51.95%, while Institutions and Non-Institutions held 14.01% and 34.03% respectively.

Deepak Nitrite has received an order from the Telangana State Pollution Control Board for closure of one of its three units situated at Hyderabad. The company is manufacturing DASDA at its facility at Hyderabad and the unit for which order has been received is a processing unit. The company’s DASDA production will be affected due to said order.

The said order is issued under the powers vested with the Telangana State Pollution Control Board under section 33(A) of the Water (Prevention and Control of Pollution) Amendment Act, 1988 and under section 31(A) of Air (Prevention and Control of Pollution) Amendment Act, 1987.

Gujarat-headquartered Deepak Nitrite has manufacturing facilities at Nandesari and Dahej in Gujarat, Roha and Taloja in Maharashtra, and at Hyderabad in Andhra Pradesh. It manufactures Bulk Chemicals & Commodities, Fine & Speciality Chemicals and Fluorescent Whitening Agents


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