Technocraft to close down non-operational 30,000 spindles

The yarn division along with other divisions were re-started gradually after the lockdown however 30,000 spindles had not been restarted yet.

Sep 17, 2020 01:09 IST India Infoline News Service

Technocraft Industries
Technocraft Industries (India) Limited on Wednesday has proposed to close down non-operational 30000 spindles in yarn division permanently. 

“We are having a yarn division having consolidated capacity of around 87,000 spindles. During the nation wide lockdown due to Covid-19, the said yarn division was closed towards the end of March 2020. This division along with other divisions were re-started gradually however out of the above, 30,000 spindles had not been restarted yet.

Now the company has, considering business outlook, decided not to re-start these 30,000 spindles in future also, which were already closed during lockdown.”

Technocraft Industries (India) Ltd is currently trading at Rs360, up by Rs2.75 or 0.77% from its previous closing of Rs357.25 on the BSE.

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