Birla Corp shares shed 14% on NGT suspension of mining at Chittorgarh

The stock was down by 14% in intraday trade with curbs on excavation of limestone for feeding firm's two cement plants

Shares of Birla Corporation fell by 14 per cent on the BSE in intra-day trade, a sequel to the National Green Tribunal (NGT) directing all mechanical mining operations be suspended in the municipal area of Chittorgarh city in Rajasthan.

The share price finally closed at Rs 531.95, down 5.8 per cent. Since 2014, the company had been engaged in mechanical mining of limestone outside a 2 km periphery of the historic Chittorgarh fort. This was to feed its two cement units at Chanderia in the state, where the installed capacity is four million tonnes (mt) a year.

The company said the NGT