Trident to shut major operations due to ‘Punjab Morcha'

20 Jul 2022 , 11:23 AM

Trident Limited announced that the company intends to temporarily shut operations as a precautionary measure to avoid disruption due to the ‘Punjab Morcha’ announced by Bhartiya Kisan Union (Ekta-Ugrahan).

The company informed that to ensure the safety and security of our workforce as well as the protection of its assets, the Company’s Management has decided to proactively close, lockdown, and suspend its major operations in Punjab beginning the intervening night of July 20 to July 21, 2022.

The company further stated that in order to sustain the environment, it shall manage to run a few continuous process units, for which its captive power generation and power transmission units and services will be operational. To avoid any untoward incidents, company will also deploy its limited security inside the premises.

After consultation with the Punjab government, the company’s production will be ramped up following the withdrawal or end of the dharna. Once normalcy has been restored, the estimated impact on production will be further communicated.

At around 11.28 AM, Trident was trading at Rs41.85 up by Rs1.95 or 4.89% from its previous closing of Rs39.90 on the BSE. The scrip touched today’s high and low of Rs41.85 and Rs40.70 respectively, so far.