Endurance Technologies rebounds 17% as management withdraws expansion plan

On Thursday, the automotive component manufacturer's stock had tanked 20 per to Rs 743, its lowest level since March 30, 2017, after the company announced the expansion plan.

Shares of Endurance Technologies were up 17 per cent, intra-day, to Rs 869 on the BSE on Friday, after the company withdrew expansion plan of new business for manufacturing of tyres.

On Thursday, the automotive component manufacturer's stock tanked 20 per to Rs 743, its lowest level since March 30, 2017, after the company announced the expansion plan.

“To the wishes of the important stakeholders' feedback, the management (has) reconsidered the same and (has) decided not to pursue the aforementioned project. Management has recommended to the Board to the above effect,” Endurance Technologies said in a regulatory filing on Thursday,