Indus Motor announces plant closure over inventory shortages

MG News | August 05, 2024 at 03:01 PM GMT+05:00

0:00

August 05, 2024 (MLN): Indus Motor Company Limited (PSX: INDU) has decided to temporarily close its Production Plant from August 6, 2024, to August 8, 2024, inclusive of both dates.

According to a notice issued by the company on PSX today, the decision was made due to low levels of raw material and component inventory, along with ongoing supply chain challenges.

These issues have led to shortages of parts and components necessary for vehicle manufacturing. As a result, the company is unable to meet its production requirements.

At the time of writing, the INDU’s share is being traded at Rs1,694, down by Rs20.59 or 1.2% as compared to its previous close.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	166,337.32 184.12M	0.32% 526.32
ALLSHR	98,796.97 369.86M	0.11% 106.98
KSE30	50,530.95 107.90M	0.42% 210.55
KMI30	242,712.51 90.68M	-0.04% -91.15
KMIALLSHR	64,736.72 174.05M	-0.14% -92.28
BKTi	46,091.15 34.33M	1.08% 492.35
OGTi	34,540.04 6.92M	-1.45% -507.49

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	71,020.00	71,740.00 70,650.00	-455.00 -0.64%
BRENT CRUDE	97.29	97.96 96.30	2.54 2.68%
RICHARDS BAY COAL MONTHLY	105.40	105.50 105.40	-3.15 -2.90%
ROTTERDAM COAL MONTHLY	107.70	108.15 107.50	-5.10 -4.52%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	97.78	98.38 96.25	3.37 3.57%
SUGAR #11 WORLD	14.26	14.51 14.19	-0.32 -2.19%