Finolex Industries has informed that it will keep its plants, warehouses and offices temporarily shut in Maharashtra till Tuesday, 31 March 2020 on account of COVID-19 pandemic.
As per the company's press filing, Finolex Industries has decided to temporarily shut its manufacturing plants located in Urse, Ratnagiri in Maharashtra along with other warehouses and offices in the state of Maharashtra till Tuesday, 31 March 2020, as per the lockdown imposed by Central/State/Municipal authorities to combat COVID-19 disease.
The firm has also decided to suspend operations at other manufacturing plants, warehouses and offices situated in other states as notified by the respective authorities.
The disclosure was made after trading hours yesterday, 23 March 2020.
Finolex Industries is a manufacturer of PVC pipes and fittings, and PVC resins. The company operates through PVC, pipes & fittings and power segments. The firm offers its products in categories, including agricultural pipes and fittings, and plumbing and sanitation pipes and fittings.
Shares of Finolex Industries tumbled 17.83% to close at Rs 313.85 yesterday, 23 March 2020. The stock hit its 52-week low at Rs 305.60 yesterday.
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