Visaka Industries to close AC unit at Patancheru, Telangana; Stock under pressure

16 Sep 2022 , 01:09 PM

As a part of strategic business plan, Visaka Industries Ltd has announced the closure of manufacturing activities of AC unit situated at Patancheru at Sy No. 315, Yelumala (V), Hyderabad, Telangana with immediate effect.

The unit had contributed Rs66.84 core (4.8% of the Total Turnover of the Company) turnover in 2021-22.

In a regulatory filing, the company said on Thursday, “Due to changing market dynamics over the years, the Company has reoriented itself to address the high potential markets.”

On Friday, at around 1:09 PM, Visaka Industries Ltd is currently trading at Rs624.10 per share down by Rs1.35 or 0.22% from its previous closing of Rs625.45 per share on the BSE.

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