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This smallcap hits upper circuit on govt’s nod to restart operations

The company expects operations to ramp up over the next several days.

ETMarkets.com|
Last Updated: Apr 07, 2020, 02.42 PM IST
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The scrip had earlier hit 52-week high of Rs 187.15 on April 16 and 52-week low of Rs 57 on March 2020.
NEW DELHI: Shares of Hikal Ltd hit upper circuit in Tuesday's session after the company on Monday informed bourses that it has received permission from the government to restart its operations since it is a provider of the essential services (pharmaceutical and continuous industries) which are exempted from the lockdown.

The scrip jumped nearly 10 per cent to Rs 81.05, while the benchmark BSE Sensex advanced 7.83 per cent to 29,750.

In a regulatory filing, the company said it has started limited operations on Sunday April 5 at all its factories in Taloja (Maharashtra), Mahad (Maharashtra), Panoli (Gujarat), Bengaluru (Karnataka) and the R&D facility located in Pune (Maharashtra).

The company expects operations to ramp up over the next several days and is ensuring compliance with the directives issued by the Central Government, State Governments and local government and is maintaining social distancing and taking the required precautions for all its staff.

The scrip had earlier hit 52-week high of Rs 187.15 on April 16 and 52-week low of Rs 57 on March 2020.
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