Comments
Hikal has resumed normal production post the 100 per cent restoration of water by MIDC (Maharashtra Industrial Development Corporation). MIDC had cut 50 per cent of the water supply last quarter, which severely affected the operations in Q2 of FY-20, resulting in lower production and sales, Hikal said in a notice to the stock exchanges.
However, pursuant to the Supreme Court order on October 21, MIDC has restored 100 per cent supply of water to the Taloja MIDC zone. The Mahad site, which was affected by heavy flooding in Q2 of FY-20 resulting in a loss of production, has also resumed normal production, Hikal added in the statement. Shares of Hikal jumped 3.4 per cent to ₹112.05 on the BSE.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.