Kirloskar Electric suspends operations of Unit-1 and II in Karnataka for two weeks; Stock rises 3%

The closure is as per the notifications and directions issued by Government of Karnataka, on surge Covid-19 cases in Karnataka.

May 11, 2021 01:05 IST India Infoline News Service

Kirloskar Electric Company Limited has temporarily suspended the operations of the Unit-1 (Govenahalli) and Unit-5 (Mysore) from May 11, 2021 to May 23, 2021.

“As per the notifications and directions issued by Government of Karnataka, on surge covid-19 cases in Karnataka, as a safety and precautionary measure, the operations of the Unit-1 (Govenahalli) and Unit-5 (Mysore) will be temporarily suspended from May 11, 2021 to May 23, 2021,” company said in a regulatory filing on Monday.

It further added, the company will closely monitor the situation and will put its best possible efforts to resume operations. The duration of this situation will depend upon further directives to be issued by the Government in this regard.

At around 1.36 pm, Kirloskar Electric Company Ltd was trading at Rs14.23 per piece up Rs0.41 or 2.97% from its previous closing of Rs13.82 per piece on the BSE.

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