Phillips Carbon Black announced that due to technical snag, the commissioning of the 30 MW co-generation power plant has been deferred.

The company is not only the largest domestic manufacturer of carbon black, but it is also Asia`s largest exporter of carbon black. The company`s products are primarily used in the elastomer, plastic, paints, and ink manufacturing industries.

It also operates a 12 MW co-generation power plant that generates power using the offgas.

Shares of the company declined Rs 2.4, or 6.67%, to trade at Rs 33.60. The total volume of shares traded was 7,719. at the BSE (3.15 p.m., Thursday).