Endurance Technologies Limited has announced in connection with consolidation of plant operations and consequent discontinuation of manufacturing operations at Manesar.
The company has received a notification /order dated 28th August, 2018 from the Labour Department, Haryana informing that the provisions of Chapter V-B of the Industrial Dispute Act, 1947 (Haryana Amending Act no.31 of 2016) have been applied. As per the order, the Company is required to obtain permission of the Haryana State government to discontinue operations of our Manesar plant with effect from 31st August, 2018.
The Company has filed a writ petition before the Hon'ble High Court of Punjab and Haryana to quash the impended notification/Order of the State government, which is arbitrary and against the provisions of the Industrial Dispute Act, as applicable to the Company.
The Company shall keep the investors updated on the progress of discontinuation of operations at Manesar plant.
Shares of Endurance Technologies Ltd was last trading in BSE at Rs.1470 as compared to the previous close of Rs. 1476.25. The total number of shares traded during the day was 897 in over 167 trades.
The stock hit an intraday high of Rs. 1480 and intraday low of 1462. The net turnover during the day was Rs. 1321857.