Share price of Amara Raja Batteries lost over 6% on Monday after as said it has received closure orders from the Andhra Pradesh Pollution Control Board (APPCB) for its two plants located in the state. The mid cap stock opened with a loss of 2.47% at Rs 790.70 on BSE.
It further fell up to 6.37% to Rs 759.05. Amara Raja Batteries stock is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The share has lost 15.63% since the beginning of this year and risen 36.79% in one year At 1:10 pm, Amara Raja Batteries stock was trading 3.74% lower at Rs 780.35 againt previous close of Rs 810.70 on BSE.
The company has received closure orders dated April 30 for the company's manufacturing facilities situated at Karakambadi, Tirupati and Nunegundlapalli in Chittoor district of Andhra Pradesh, Amara Raja Batteries said in a regulatory filing.
"The company as a responsible corporate has always placed highest priority to environmental management systems and have adopted best environmental practices over the last many years in our organisation which have helped us maintain highest standards of pollution control measures including employee health and safety," it said.
Amara Raja Batteries also said it has invested significantly on pollution control systems.
Meanwhile, Sensex was trading 255 points lower at 48,526 and Nifty lost 60 points to 14,571 in afternoon session.
Amara Raja Batteries Limited (ARBL), the flagship company of the Amara Raja Group, is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry. It sells batteries under the popular brand name of Amaron.