Birla Corporation shares drop up to 14% following NGT order to stop mining
Shares of Birla Corporation slumped up to 14 per cent during intra-day trade on Monday after National Green Tribunal (NGT) ordered the firm to stop all mining activities being carried on within the municipal limits of Chittorgarh City. On BSE, the scrip after opening on a negative note further declined 14.11 per cent to Rs 485.10 during the day.
Similarly, at the National Stock Exchange (NSE), shares plunged 11.52 per cent to the intra-day low of Rs 500.
The company in a regulatory filing on Saturday said, “the Principal Bench of NGT on March 8, 2019 has ordered to stop all mining activities which are being carried on within the municipal limits of Chittorgarh City and within 10 km of Bassi Wildlife Sanctuary or within Eco-Sensitive Zone of Bassi Wildlife Sanctuary”.
The shares of the company closed 5.82 per cent down at Rs 531.95 on BSE.