Sabero Organics dips 9% on notice to stop Sarigam unit work

Moneycontrol Bureau

Shares of Sabero Organics Gujarat, a subsidiary of Coromandel International, fell 9 percent in intraday trade after getting notice from pollution control board to stop operations at Sarigam unit.

The fertiliser chemical manufacturer received a letter from the Environmental Engineer, Gujarat Pollution Control Board (GPCB), Gandhi Nagar, advising to close production process at Sarigam Unit in Gujara. It stated that there were certain non-compliances of the environmental parameters.

"Company is taking necessary steps to address the concerns expressed by GPCB and to seek their permission to continue the operations," Sabero said in its filing to the BSE.

At 15:08 hours IST, the stock was trading at Rs 124.45, down 3.86 percent amid heavy volumes on the BSE.