Damodar Industries shares slump ~5% despite resuming operations

The company had temporarily suspended its operations at its manufacturing facilities on March 24, 2020 in the wake of Covid-19 outbreak.

May 06, 2020 01:05 IST India Infoline News Service

Damodar Industries Ltd. informed the exchanges Tuesday about the resumption of partial operations at its manufacturing facilities in Dadra and Nagar Haveli (UT) and Amravati in Maharashtra. The company had temporarily suspended its operations at its manufacturing facilities on March 24, 2020, in the wake of Covid-19 outbreak.

The company's shares slumped ~5% on the BSE and were selling at Rs19.00 down Rs 0.95 or 4.76% than its previous close of Rs19.95.

The company will comply with all the conditions imposed by the authorities and undertaking the necessary measures for safeguarding the health of the workforce.

“The company continues its efforts towards achieving normalised level of operations, depending upon the prevailing situation and the government directives,” the company said in a press release on Tuesday.

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