"Due to very weak market conditions, the company has suspended its smelting operations for an approximate period of a month. Subsequently, a layoff for all workmen has been declared," the company said in a BSE filing.
It said it expected normal operations to resume next month.
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The company has its smelter unit at Palakkad in Kerala.
"We are laying off about 70 employees at Palakkad unit in Kerala for a month," a company official said.
The shares of the company were trading at Rs 39.40 apiece, up 0.13 per cent on BSE at 13.40 HRS.
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