FACOR Alloys Ltd announces suspension of Plant Operations w.e.f. 15.07.2023 till further notice

FACOR Alloys Ltd has announced that the manufacturing facilities at the Plant of the Company situated at SHREERAMNAGAR-535 101, Dist. Vizianagaram, (A.P.) shall become under temporary shutdown w.e.f. 15.07.2023 till further notice, due to steep rise in the Power Tariff for Ferro Alloys industry by the DISCOM in the State of Andhra Pradesh (AP), resulting the unviable situation for running of Plant Operations in view of high input cost and negative margin at the prevailing market price.

The matter is still in persuasion with the Govt. through 'Andhra Pradesh Ferro Alloys Producers Association' (APFAPA) for considering favourable revision in the power tariff.

Shares of FACOR ALLOYS LTD. was last trading in BSE at Rs. 6.66 as compared to the previous close of Rs. 6.62. The total number of shares traded during the day was 256105 in over 687 trades.

The stock hit an intraday high of Rs. 6.72 and intraday low of 6.60. The net turnover during the day was Rs. 1705276.00.

Source : Equity Bulls

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