Indus Motor shuts down production plant for 1 month

MG News | October 16, 2023 at 03:43 PM GMT+05:00

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October 16, 2023 (MLN): Indus Motor Company Limited (PSX: INDU) has decided to shut down its production plant from October 17 to November 17, 2023 (Both days inclusive), a notice issued by the company to PSX on Monday showed.

This decision was taken based on the current level of inventory of manufactured vehicles and part shortages due to supply chain challenges.

At the time of writing, the company’s share is being traded at Rs920, up by 6.77 rupees or 0.73% as compared to its previous close.

It is important to mention that this decision comes as an extension of the company's plant closure from September 28 to October 09, 2023.

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