Indo Count Industries closes industrial operations in Kolhapur until May 23; Stock spurts 5%

The company is complying with District Disaster Management, Kolhapur order and this will not have a material impact on its business.

May 17, 2021 12:05 IST India Infoline News Service

Indo Count Industries Limited informed the exchanges Sunday that the company has closed industrial operations until May 23, 2021, to comply with District Disaster Management, Kolhapur order. This will not have a material impact on its business, it said.

“In order to break the chain of the second wave of Covid-19 pandemic in Kolhapur district, the District Disaster Management, Kolhapur vide its order dated May 13, 2021, has directed the industrial undertakings in the District of Kolhapur to temporarily close the industrial operations for 8 days from May 15, 2021 (12.00 a.m.) to May 23, 2021 (12.00 a.m.). The Company is complying with the said order and this will not have material impact on its business,” company said.

Health, safety and wellbeing of employees is of vital importance in this situation and all safety measures are adopted by the company for the same. The duration of the situation will depend upon further directive by District Office in this regard, company said.

At around 12.07 pm, Indo Count Industries Ltd was trading at Rs156.20 per piece up by Rs7.4 or 4.97% from its previous closing of Rs148.80 per piece on the BSE.

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