Apollo Tyres suspends operations at plants in Kerala, Gujarat and Tamil Nadu till March 31

The Company will continue to closely monitor the situation and take appropriate action as per regulatory guidance.

Mar 25, 2020 05:03 IST India Infoline News Service

Apollo Tyres
Apollo Tyres informed that the company has suspended operations at plants in Kerala, Gujarat and Tamil Nadu till March 31 and has been taking various precautionary measures to ensure safety and health of all our employees. The company has taken this step in the wake of the novel Coronavirus (COVID-19) outbreak, and as per the instructions and various advisory directives of Central Government & State Governments of India.

In view of the lockdown in many of the States across the country in order to prevent & contain the spread of COVID-19, the operations at the companys's plants in the states of Kerala (at Kalamassery & Perambra), Gujarat (at Limda) and Tamil Nadu (at Chennai) are shut down till March 31, 2020.

Further, "the employees and other staff in various offices have been instructed to work from home. The expected financial impact of the above is not ascertainable at this stage. The duration of this shutdown will depend upon directives to be further issued by the respective Government authorities in this regard" the compay informed.

The Company will continue to closely monitor the situation and take appropriate action as per regulatory guidance.

The stock is currently trading at Rs77.20, down by Rs1.35 or 1.72% from its previous closing of Rs78.55 on the BSE.

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