Modipon to lay off 41 workers

With reference to the earlier announcement dated April 20, 2007 regarding the Company proposing to put 41 workers of a particular department (not in operation for quite some time) with effect from April 20, 2007 morning, on lay off, Modipon Ltd has announced that keeping in view the continued losses being incurred by the Company, the Company has thought expedient to suspend the manufacturing operations of the Company and to lay-off the workers engaged in the manufacturing unit.

The stock closed the day at Rs.85, up by Rs.0.85 or 1.01%. The total traded quantity was 100 compared to 2 week average of 250. The stock hit an intraday high of Rs.85 and low of Rs.84.

Source : Equity Bulls

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