Bimetal Bearings Limited announces closure of operations at Thoraipakkam Plant

As part of consolidation of production activities, Bimetal Bearings Limited has decided to shift the manufacturing activities carried at the Thoraipakkam plant to the Hosur plant with immediate effect and the requisite formalities regarding plant closure are nearing completion.

The shifting of the manufacturing base to Hosur would provide good logistics support to the Company and also to its valuable customers.

Further on account of this consolidation / shifting of production activities to Hosur, the Company will not in any way reduce the production quantities.

Shares of BIMETAL BEARINGS LTD. was last trading in BSE at Rs.329.5 as compared to the previous close of Rs. 315.95. The total number of shares traded during the day was 1428 in over 89 trades.

The stock hit an intraday high of Rs. 340 and intraday low of 320. The net turnover during the day was Rs. 471199.

Source : Equity Bulls

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