India Pesticides surges 11% as arm gets nod to set-up agrochem unit in UP

Shalvis Specialities has received environmental clearance for setting up manufacturing plant of agrochemicals & intermediates, API ingredients & intermediates and fine chemicals manufacturing unit.

Shares of India Pesticides (IPL) surged 11 per cent to Rs 268.55 on the BSE in Wednesday’s intra-day trade in an otherwise subdued market after the government granted environmental clearance to the proposed project activity.

The company’s wholly-owned subsidiary i.e. Shalvis Specialities (SSL) has received environmental clearance from the Ministry of Environment, Forest and Climate Change (Impact Assessment Division) of Government of India for setting up manufacturing plant of "agrochemicals & intermediates, active pharmaceutical ingredients (API) ingredients & intermediates and fine chemicals manufacturing unit” in District Hamirpur, Uttar Pradesh.

At 10:48 AM; shares of IPL traded 9 per