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Rallis India firms up after GPCB revokes closure order

Capital Market 

Rallis India rose 1.17% to Rs 156.25 at 14:14 IST on BSE after the company said that Gujarat Pollution Control Board has revoked its earlier order to suspend operations at Dahej plant.

The announcement was made during market hours today, 12 July 2019.

Meanwhile, S&P BSE Sensex was up 139.58 points or 0.36% at 38,962.69.

On BSE, 23,000 shares were traded in Rallis India counter, compared to a 2-week average of 16,000 shares. The share price hit an intraday high of Rs 160.75 and an intraday low of Rs 152. It hit a 52-week high of Rs 214.40 on 31 August 2018 and a 52-week low of Rs 139.10 on 15 May 2019.

The company announced that it has received a letter from the Gujarat Pollution Control Board (GPCB) revoking its earlier order to suspend operations at one of the company's units in Dahej, Gujarat.

Rallis India's consolidated net profit fell 92.3% to Rs 1.52 crore on a 8.5% decline in net sales to Rs 339.69 crore in Q4 March 2019 over Q4 March 2018.

Rallis India, a TATA enterprise, is a subsidiary of Tata Chemicals, with its business presence in the farm essentials vertical.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 12 2019. 14:34 IST