Shares of Jindal Poly Movies Ltd plummeted 8.5% after touching a day’s excessive of Rs 681.20 on twenty second Might, after the agency stated yesterday {that a} fireplace broke out on the manufacturing plant of its materials subsidiary, JPFL Movies Non-public Restricted, positioned at Mundhegaon in Nashik district, Maharashtra.
The hearth incident occurred round 1:00 AM at JPFL Movies’ Nashik plant and partially disrupted operations.
The reason for the fireplace shouldn’t be but recognized, and the corporate is presently assessing the injury. JPFL Movies confirmed the ability is totally insured, and the insurer has been notified.
The agency will announce the monetary influence as soon as the injury analysis is full.
In April, minority shareholders filed a category motion go well with at NCLT, alleging a Rs 2,000 crore fund was siphoned to promoter-linked corporations.
As per the criticism, Rs 700 crore was invested in two associated entities via OCPS and RPS between FY13 and FY17.
At 11:15 AM, the shares of Jindal Poly Movies have been buying and selling 7.65% decrease at Rs 643.40 on NSE.
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