 "International Paper dips as APPCB orders closure of its AP plant")
Shares of International Paper APPM has dipped 8% to Rs 309 on the NSE after the company announced that Andhra Pradesh Pollution Control Board (APPCB) has issued a closure order to the manufacturing facility located at Rajahmundry, East Godavari district in Andhra Pradesh.
The company said it filed an appeal on July 23, 2015 against the above closure order in National Green Tribunal, which has admitted the petition by the company and posted the matter for July 28, 2015.
The company is engaged in discussions with APPCB and the Government of Andhra Pradesh, the company added.
The stock hit a low of Rs 304 on the NSE so far and has seen a combined 396,468 shares changing hands on the counter on the NSE and BSE till 01:11 pm.
The company said it filed an appeal on July 23, 2015 against the above closure order in National Green Tribunal, which has admitted the petition by the company and posted the matter for July 28, 2015.
The company is engaged in discussions with APPCB and the Government of Andhra Pradesh, the company added.
The stock hit a low of Rs 304 on the NSE so far and has seen a combined 396,468 shares changing hands on the counter on the NSE and BSE till 01:11 pm.
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