Subros plunges as fire damages factory in Manesar
Reacting to the development, the scrip plummeted 16.75 per cent to hit a low of Rs 77.50 on the BSE. The stock has slumped 20 per cent in the year so far.
By ET Online |
NEW DELHI: Shares of auto-component maker Subros ended the day lower by 4.89 per cent on Monday after its factory in Manesar was damaged by fire on Sunday afternoon.
The company is known to supply auto components to Maruti Suzuki.
Eyewitnesses said the entire unit got gutted, but no injuries to workers were reported, an ET report said.
Reacting to the development, the scrip plummeted 16.75 per cent to hit a low of Rs 77.50 on the BSE. The stock has slumped 20 per cent in the year so far.
"We are trying to control the situation. However, we have not yet estimated the loss due to the fire," Subros chairman, Ramesh Suri told ET.
The company is known to supply auto components to Maruti Suzuki.
Eyewitnesses said the entire unit got gutted, but no injuries to workers were reported, an ET report said.
Reacting to the development, the scrip plummeted 16.75 per cent to hit a low of Rs 77.50 on the BSE. The stock has slumped 20 per cent in the year so far.
"We are trying to control the situation. However, we have not yet estimated the loss due to the fire," Subros chairman, Ramesh Suri told ET.
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