Majestic Auto rises 6% on closure of fine blanking division due to lack of profit
The company has shut down its fine blanking division which was a part of its manufacturing business vertical due to unviable business operations; lack of viable orders & profitability.
Moneycontrol News
Share price of Majestic Auto added 6.3 percent intraday Friday as it has closed at fine blanking division due to lack of orders and profitability.
The company has shut down its fine blanking division which was a part of its manufacturing business vertical due to unviable business operations; lack of viable orders & profitability.
The division is situated at B-06, Ecotech-I Extension, Greater Noida - 201308.
In the month of September 2017, the company shut its electric motor division which was a part of its manufacturing business vertical due to lack of viable orders, profitability & capital investment requirement for new technology.
At 09:39 hrs Majestic Auto was quoting at Rs 128.25, up Rs 4.10, or 3.30 percent on the BSE.
The share touched its 52-week high Rs 144.80 and 52-week low Rs 95.55 on 01 September, 2017 and 11 August, 2017, respectively.
Posted by Rakesh Patil
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