Shares of Graphite India rose over 3 percent in early trade after receiving consent for renewal of operations at the Bengaluru plant.
The stock gained as much as 3.4 percent on the BSE, quoting at Rs 877.70.
The Kamataka State Pollution Control Board (KSPCB) has allowed the company to resume operations at the Bengaluru graphite electrode plant until June 30, 2020.
The KSPCB has renewed the "consent for operations" on the condition that Graphite India will shift the unit from the current location.
KSPCB had conducted an inspection of the plant on November 23, 2018.
"The condition will not have adverse impact on the production capacity of the graphite electrode division as a whole in the medium and long term," Graphite India said in a statement.
At 09:24 hrs, Graphite India was quoting at Rs 865.00 on the BSE, up 1.94 percent from the previous close.
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