Indus Motor announces plant closure over inventory shortages

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

Add Mettisglobal as a Trusted Source on Google

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	177,893.46 186.37M	0.29% 519.69
ALLSHR	106,747.28 971.88M	0.59% 624.40
KSE30	51,887.16 97.90M	0.29% 152.14
KMI30	255,145.41 84.52M	0.50% 1272.42
KMIALLSHR	69,189.55 325.65M	0.89% 611.13
BKTi	48,728.31 18.55M	-0.23% -113.09
OGTi	36,098.86 19.45M	2.86% 1003.17

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	69,385.00	71,540.00 67,585.00	-2120.00 -2.96%
BRENT CRUDE	95.72	96.81 95.06	-0.10 -0.10%
RICHARDS BAY COAL MONTHLY	127.15	0.00 0.00	-1.45 -1.13%
ROTTERDAM COAL MONTHLY	138.00	138.00 137.90	0.60 0.44%
USD RBD PALM OLEIN	1,182.50	1,182.50 1,182.50	0.00 0.00%
CRUDE OIL - WTI	88.18	89.20 87.80	-0.56 -0.63%
SUGAR #11 WORLD	18.31	18.38 18.16	0.09 0.49%