The "severe down-ward" situation prevailing in the Auto Ancillary Industry affecting the demand situation throwing out of gear the production schedules obtained in Bimetal Bearings Ltd's various manufacturing plants necessitating postponing production to different days on compensatory basis. This is apart from workmen being deployed for maintenance, fabrication of machines etc.
On an average there will be temporary dislocation of production activities ranging from 15 to 20 days on different days in various plants during the Calendar Quarter ending 30th September 2019. The present situation is aggravated "due to stress in liquidity, financing of commercial vehicles, high GST rates, reduction in engine overhaul cycle apart from high interest costs which the industry is undergoing / facing in a "never seen before" crisis situation.
Shares of BIMETAL BEARINGS LTD. was last trading in BSE at Rs.315 as compared to the previous close of Rs. 323.5. The total number of shares traded during the day was 299 in over 20 trades.
The stock hit an intraday high of Rs. 324 and intraday low of 315. The net turnover during the day was Rs. 94891.