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Escorts to halt manufacturing during this weekend

Capital Market 

Escorts said that considering COVID-19 spread escalation, as a precautionary measure, the company will be temporarily shutting down our manufacturing operations, on selective basis, between between May 1 and May 3.

The scrip fell 1.34% to currently trade at Rs 1,115.10 on the BSE.

In a regulatory filing made after trading hours yesterday, Escorts said that there will be no impact on fulfilling customer demand because of this as company has sufficient inventory at hand. The shutdown period shall be utilized for routine plant maintenance with employees in essential services present on rotational basis.

Escorts is an engineering conglomerate. The company has diversified business in to three different segments. Escorts Agri Machinery (EAM), Escorts Construction Equipment (ECE) & Railway Equipment Division (RED).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, April 30 2021. 09:19 IST