Balrampur Chini Tumbles On Fine Slapped By NGT

The stock of Balrampur Chini Mills slipped 1.8% at Rs 159.8 on news of National Green Tribunal (NGT) slapping Rs 25 lac fine on the company. The stock has witnessed a fall almost for all trading days after consolidating at its 52-week high levels of 170.

The fine was regarding environmental degradation allegedly caused by operations at Uttar Pradesh units. The said fine would not affect the working and financial position of the company.  

The company clarified that the mentioned causes related to the period prior to implementation of Zero liquid discharge technology (NZLD) in 2016-17 under Central Pollution Control Board (CPCB) and U.P.

Pollution Control Board (UPPCB) and Central Ground Water Authority guidelines. The company has possessed necessary approvals to carry out such operations.

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About Suhani Varma

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