Escorts announced that taking into account the escalation of the COVID-19 spread, as a precautionary measure, the company will temporarily suspend our manufacturing operations between May 1st and 3rd on a selective basis.
The price fell 1.34% and is currently trading at Rs 1,115.10 on the BSE.
In an authorization application filed after trading hours yesterday, Escorts said it will have no impact on meeting customer demand as the company has adequate inventory levels. The downtime is to be used for routine maintenance of the system with employees in essential duties who are present on a rotation basis.
Escorts is an engineering conglomerate. The company has diversified its business into three different segments. Escorts Agri Machinery (EAM), Escort Construction Equipment (ECE) and Railway Equipment Division (RED).
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(This story was not edited by Business Standard staff and is automatically generated from a syndicated feed.)
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