 "Plant audit clearance, sales recovery to bolster Page Industries' stock")
The stock of Page Industries gained about 3 per cent on Tuesday after the company’s Unit-3 plant located in Bengaluru was audited and cleared by the Worldwide Responsible Accredited Production (WRAP), after it re-certified the facility as socially compliant.
The audit was undertaken after alleged human rights violations at Unit-3. Citing the same, Norges Bank Investment Fund, Norway’s $1-trillion fund, had left the stock and excluded it from its global portfolio. Given the importance accorded to the environmental, social and governance (or ESG) criteria before investment decisions, the clean chit clears this overhang.
Analysts at Edelweiss believe the WRAP’s re-certification and, more
