Gujarat Sidhee Cement suffers no major damage due to Tauktae Cyclone; Stock up ~4%

The company’s plant at Gir Somnath was stopped on May 17 evening and restarted on May 19.

May 20, 2021 03:05 IST India Infoline News Service

Gujarat Sidhee Cement Limited (GSCL) informed the exchanges Wednesday that it suffered no major damage due to Tauktae Cyclone.

“The Taukate Cyclone passed over Mumbai and Veraval with very high wind velocity on May 17 and 18, 2021. The Landfall was forecasted in Gujarat Coast. However, there is no major damage as the direction of the cyclone shifted and moved northwards,” company said.

The company had taken all precautionary measures at its Plant at Gir Somnath. The plant was stopped in GSCL on May 17, 2021 evening and restarted on May 19.

“No major damage occurred at any of the factory location. The factory is operational now. The situation continues to be under review at all locations. The Company is under process of estimating the loss of stock (if any) at various depots,” it added.

Towards close of trade on Thursday, Gujarat Sidhee Cement Ltd was trading at Rs41.40 per piece up Rs1.55 or 3.89% from its previous closing of Rs39.85 per piece on the BSE.

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