Endurance Tech rises 4%

Endurance Technologies opened at its intraday high of Rs.640, a rise of 4% over yesterday’s close. But after that it slipped down and is just about holding onto the green at Rs.619 levels, less than 1% up.

Yesterday night the company announced resumption of its plants in Italy.

The company said that all operating subsidiaries in Italy, except the foundry plant of Endurance SpA in Chivasso, have resumed their plant operations today i.e. 4th May, 2020 following the government directives to relax the lockdown.

The plant of Endurance SpA in Chivasso is expected to resume operations on 11th May, 2020.

All the plants shall gradually be ramping up operations to align with the off-take from their respective OEM customers.

The company said that it is too early to envisage the financial impact of this temporary disruption of manufacturing operations in India as well as overseas. Its impact will be ascertained in due course based on the culmination of this pandemic outbreak of COVID-19.

The company’s plants had stopped production from 25th March.