Rohit Ferro-Tech

Rohit Ferro-Tech has informed the exchanges that the company’s factory at Haldia, Purba Mednipur, is under suspension of work from July 1. The suspension is the result of a substantial gap in electricity tariff as quoted by the West Bengal State Electricity Distribution Co and Damodar Valley Corporation. For the Haldia plant, the company has to procure electricity from WBSEDCL, the rates of which are 30 per cent higher than those of DVC. This is resulting in the company incurring huge losses. Shares of Rohit Ferro jumped 9 per cent at ₹6.9 on the NSE.