Amara Raja Batteries was the top loser on the BSE when the market opened for trade today. It opened 2.5% lower at Rs.790.70 and went down 6.5% to hit an intraday low at Rs.759.05. Its 10% LC of the day is at Rs.729.65.
The stock is down, reacting to the order from AP Pollution Control Board (APPCB), which has issued notices to the Amara Raja Batteries to close its manufacturing plants at Karakambadi and Nunegundlapalli in Chittoor district for flouting norms.
The APPCB charged the company with polluting ambient air, which resulted in the presence of high levels of lead in the blood of almost all its employees and people of the surrounding villages, discharging untreated waste water into the drains and untreated sewage into the storm water drains, and causing soil pollution.
The APPCB stated in its notices that if the polluting units continued to be operated even after the receipt of its orders, punitive action would be taken against the company. Also the AP Southern Power Distribution Company was directed to cut power supply to the two units.