Hercules Hoists shuts down production and distribution facilities at Khalapur; stock dips 2%

The decision follows the lockdown announced by the Collector of Raigad District.

Jul 16, 2020 11:07 IST India Infoline News Service

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Hercules Hoists Limited has temporarily shut down production and distribution facilities at Khalapur in Raigad for ten days from today. The company had already moved to 'work from home' policy for all its office employees.

“We wish to inform that in view of the lockdown announced by the Collector of Raigad District, the production and distribution facilities at Khalapur (Raigad) have been temporarily shut down from July 16, 2020 to July 25, 2020 and will be operated after that, as per the guidelines of concerned local authorities,” company informed the exchanges on Thursday.

Hercules Hoists Ltd is currently trading at Rs79.30 down by Rs1.9 or 2.34% from its previous closing of Rs81.20 on the BSE.

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