Sumitomo Chemical jumps after resuming partial operations

Sumitomo Chemical jumped 7.83% to Rs 227.45 after the company said it has commenced operations in a partial manner after securing permissions from the government authorities.

On 24 March 2020, the company had announced the stoppage of manufacturing operations owing to the nationwide lockdown in the wake of outbreak of Covid-19.

The firm, being engaged in the manufacturing of agriculture inputs categorized as essential goods, has commenced operations at its manufacturing units in a partial manner, after securing permissions from the government authorities. Sales, supply chain and other business operations have also begun, but to a sub-normal level. The company is taking utmost care and undertaking all the necessary measures and complying with all the conditions imposed by the authorities,including safe distancing, for safeguarding health of the workforce.

Normalisation of manufacturing and other business activities in the days to come will depend upon relaxation of lock-down restrictions by the respective government authorities and the company will keep making efforts towards achieving normalized level of operations keeping in mind safety measures and depending upon prevailing situation and government authorities directives, the company said in a statement today, 17 April 2020.

Sumitomo Chemical India (SCIL) manufactures, imports and markets products for Crop Protection, Grain Fumigation, Rodent Control, Bio Pesticides, Environmental Health, Professional Pest control and Feed Additives for use in India. SCIL has also marked its presence in Africa and several other geographies of the world.

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