Moneycontrol
Last Updated : Jan 16, 2018 01:03 PM IST | Source: Moneycontrol.com

GNFC declines 7% on plant shutdown due to leakage at Dahej

"In the morning on January 15, there has been a sudden leakage at TDI-II plant, Dahej, which called for plant shutdown at Dahej," company said in press release.

Shares of Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) declined 7 percent intraday Tuesday as the company closed Dahej plant after sudden leakage on January 15.

"In the morning on January 15, there has been a sudden leakage at TDI-II plant, Dahej, which called for plant shutdown at Dahej," company said in press release.

"Due to safety measures already put in place by the company over a period of time, neither there is any property damage nor any loss of life," it added.

As a matter of abundant precaution, management has decided to close the plant indefinitely till the root cause is thoroughly analysed, reviewed and necessary further safety measures to be taken are fully evaluated in addition to current safety precautions.

This decision to close TDI-II plant indefinitely is taken till the process of necessary preparations, putting in place further checks & balances and thorough evaluation is over.

At 10:44 hrs Gujarat Narmada Valley Fertilizers & Chemicals was quoting at Rs 507.25, down Rs 33.30, or 6.16 percent.

The share touched its 52-week high Rs 548.50 and 52-week low Rs 236.40 on 24 October, 2017 and 02 February, 2017, respectively.

Currently, it is trading 7.52 percent below its 52-week high and 114.57 percent above its 52-week low.

Posted by Rakesh Patil
First Published on Jan 16, 2018 10:51 am
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