Autoline Industries locked at 5% upper circuit as arm gets environmental clearance
Share price of Autoline Industries has locked at 5 percent upper circuit on Monday as its subsidiary received environmental clearance.
There were pending buy orders of 152,098 shares, with no sellers available.
Autoline Industrial Parks, subsidiary of the company, on November 23 has received environmental clearance from Ministry of Environment, Forest and Climate Change, New Delhi vide its letter no. F. No. 21-283/2017-IA-III for the proposed special township project of the subsidiary Company spread in its 104 acre land located at Mahalunge, Chakan, Pune, as per company release.
The said approval was the prime and vital requirement to proceed further with the project.
After receipt of this significant approval the subsidiary company is confident to commence the project development activities soon.
At 10:36 hrs Autoline Industries was quoting at Rs 103.15, up Rs 4.90, or 4.99 percent on the BSE.
It has touched a 52-week high of Rs 103.15.
Posted by Rakesh Patil