Bhushan Steel dips after NGT orders closure of its Ghaziabad unit

 

Shares of Bhushan Steel have dropped 3.6% to Rs 43.55 on the Bombay Stock Exchange (BSE) after the National Green Tribunal (NGT) ordered the closure of Bhushan Steel’s facility in Sahibabad industrial area for 4 weeks.

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According to media reports, an application filed before NGT alleges that the industries in Ghaziabad around the Sahibabad area has contaminated the ground water thus making it contaminated. The application further states that the ground water is being extracted in high quantity without permission from CGWA.

The stock opened at Rs 44.55 and touched a low of 43.05. A combined total of 456,455 shares changed hands on the counter of NSE and BSE.