BCL halts production amid drop in orders, payment delays

By MG News | Category Equity | August 23, 2024 at 03:33 PM GMT+05:00

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August 23, 2024 (MLN): Bolan Castings Limited (PSX: BCL) has decided to halt its production activities starting Monday, August 26, 2024, until further notice.

The company announced this decision in a notice issued to the Pakistan Stock Exchange (PSX) today, citing a significant drop in customer orders as the primary reason.

Additionally, delays in payment from its main customer are causing severe financial strain to the company.

At the time of writing, the company's scrip is being traded at Rs96, down by Rs8.32 or 7.97% compared to yesterday's close.

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