Prataap Snacks gains after 3rd party units resume operations

Prataap Snacks jumped 3.79% to Rs 460 after the company said that its third party manufacturing units located at various locations have started operations in line with the terms and conditions issues by the local administration.

The company on Wednesday (15 April) informed that the production at its third party/job work manufacturing units located at Kashipur, Uttarakhand, Raigad (Karjat), Maharashtra and Hisar, Haryana have been started in line with the terms and conditions of the orders of the respective local administration in the amidst of spread of COVID-19.

Earlier on 24 March 2020, the company suspended its manufacturing operations at its plants located at Indore and Guwahati along with suspending operations at subsidiary's plant located at Rajkot to contain the spread of COVID-19.

Although Coronavirus started in central China, it is spreading faster in the rest of the world. The epidemic has grown to infect over 2,089,237 people with over 134,780 fatalities. India has reported 423 deaths and over 12,456 cases so far.

Prataap Snacks is engaged in processing, manufacturing and sale of various types of potato-based snacks, extruded snacks, namkeen and ethnic sweets under the brand name, yellow diamond.

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