Suprajit Engineering Ltd updates on impact of production at Matamoros plant

The United Auto Workers (UAW) Union has resorted to strike at 3 major Auto Companies, namely GM, Ford and Stellantis, in the USA. The strike has now entered 5th day with no resolution in sight. The negotiations between UAW and Auto Companies are ongoing. However, UAW has warned that it will intensify the strike if no resolutions are in place by Friday, 22nd September, 2023.

Matamoros plant of Suprajit in Mexico supplies to all these 3 majors and also to their tier 1/2 suppliers. This group of customers form approximately 50% of Matamoros business. Unless there is an early resolution, operations at Matamoros can be affected to the extent of reduction in volumes by these customers.

No other plants of the Suprajit group are affected by this strike.

Shares of Suprajit Engineering Limited was last trading in BSE at Rs. 417.30 as compared to the previous close of Rs. 413.95. The total number of shares traded during the day was 9304 in over 639 trades.

The stock hit an intraday high of Rs. 420.25 and intraday low of 408.05. The net turnover during the day was Rs. 3877351.00.

Source : Equity Bulls

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SuprajitEngineering INE399C01030 MatamorosPlant SupplyImpact Strike