Fire causes damage at Motherson Sumi Noida facility

Motherson Sumi Systems Ltd has announced that one of the Company's wiring harnesses facilities at Noida caught fire, causing extensive damage to the stocks, equipment and building of the unit. Fortunately, there was no harm to human life.

In order to ensure continuity of supplies to the customers, the Company is utilizing additional capacities at other 10 manufacturing locations of the Company as well as support from the supply chain partners. The Company does not expect to have material impact on the overall operations of the Company.

The stock closed the day at Rs.119.20, down by Rs.1.70 or 1.41%. The stock hit an intraday high of Rs.125 and low of Rs.119.05. The total traded quantity was 2187 compared to 2 week average of 3714.

Source : Equity Bulls

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