New Delhi, Jan 2 – Shares of VST Industries ended at the upper circuit of 20 per cent on Tuesday after investor Radha Kishan Damani and three mutual funds acquired shares in bulk deals from the market.
Damani bought 2.22 lakh shares at a price of Rs 3,390. Mutual funds, including SBI Mutual Fund, bought 2.25 lakh shares, DSP Mutual Fund bought 2.5 lakh shares, while HDFC Mutual Fund bought 2 lakh shares in bulk deals.
VST Industries hit the upper circuit of 20 per cent at Rs 4,065 on the BSE, touching a 52-week high. Its market capitalisation is Rs 6,277 crore.
VST Industries had disclosed in December that the Central Pollution Control Board passed a show-cause notice for non-compliance of the Plastic Waste Management Rules, 2016.
The show-cause notice alleges violation of Rule 4(h) and 10(3) of the Plastic Waste Management Rules, 2016 under the Environment (Protection) Act, 1986.
The financial impact of the show-cause notice cannot be ascertained at the moment. The notice is open for submission before the relevant authorities.
The company does not agree with the notice and will take appropriate action by filing a reply and contesting the matter, VST Industries had said.
The Vazir Sultan Tobacco Company Limited was incorporated on November 10, 1930, under the Hyderabad Companies Act. It is now governed under the Companies Act, 1956/2013. The name of the company was subsequently changed to VST Industries Limited on April 30, 1983. The company has its registered office at Azamabad in Hyderabad.
The company has manufacturing facilities in Hyderabad and Toopran (Telangana) and its principal activities are manufacturing and sales of cigarettes and unmanufactured tobacco.
(Sanjeev Sharma can be reached at [email protected])
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