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Dhanuka Agritech resumes partial operations; shares slip by 5%
−− Not all offices of Dhanuka will be opened and employees there will continue to work from home.
Apr. 27, 2020
Dhanuka Agritech Ltd.
IndiaFollow
India
After a temporary shutdown amid Covid-19, the agrochemicals services provider Dhanuka Agritech on Friday informed that they have reopened their operations in various regions. However, not all offices of Dhanuka will be opened and employees there will continue to work from home.
In a notification to exchanges, Dhanuka revealed that operations in its all three manufacturing facilities located at Sanand (Gujarat), Udhampur (J&K) and Keshwana (Rajasthan)have resumed.
Dhanuka said, "we would like to inform the exchange that Company started to operate it’s all there plants and depots, to keep the essential manufacturing activities on to ensure the global supply chain of pesticides/crop protection products as the Company falls under the “Essential Commodities and Services list, issued by Govt. of India."
However, Dhanuka also informs that personnel based at its corporate offices located at Gurugram and registered office at New Delhi are working from home and providing the required support to other functions.
For Gurugram and Delhi corporate offices, Dhanuka states the situation will continue to be closely monitored and appropriate actions initiated will also be communicated at the appropriate time as required.
On Sensex, the share price of Dhanuka was trading at Rs420.05 per piece down by 4.50% at around 3.00 pm. Over 5% drop has been witnessed in Dhanuka's share as it touched an intraday low of Rs414.25 per piece.
Source: IIFL
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