New Delhi: Shares of Deepak Nitrite extended their losing run to the fifth session as it declined nearly 5 per cent in early trade on Thursday amid reports that the Gujarat government has issued a closure notice to the company over the Nandesari explosions.
The scrip has shed almost 10 per cent in the last five sessions after last week’s fire breakout and a series of explosions at the Deepak Nitrite’s plant located at Nandesari Industrial estate near Vadodra.
Media reports suggested that the office of the Director of Industrial Safety & Health (DISH), functioning under the Gujarat government’s Labour & Employment department, said Deepak Nitrite will not be permitted to start production activities till it follows compliances related to plant and building safety.
The exchanges have sought clarification from the company regarding the same. The reply is awaited.