News Guides Comparisons Specs & Price

Agriauto Industries Ltd Extends Partial Shutdown Amid Demand Issues

Agriauto Industries Limited (PSX: AGIL) has decided to observe/extend its partial shutdown during June, the company told the Pakistan Stock Exchange on Friday.

“Due to reduction in production volumes of our major customers, the Company will be observing partial shutdown during the month of June 2023,” the filing stated.

It also said, “Agriauto Stamping Company Pvt. Ltd., the wholly owned subsidiary of the Company will also observe partial shutdown in June 2023 owing to the reasons stated above”.

This comes after AGIL first announced in May a similar shutdown due to the reasons mentioned above. Additionally, production at Agriauto Stamping Company Private Limited was also limited to a partial shutdown during the period.

AGIL is engaged in the manufacture and sale of components for automotive vehicles, motorcycles, and agricultural tractors.

At the time of filing, the company’s scrip at the bourse was Rs. 57.5, up 1.75 percent or Rs. 0.99 with a turnover of 1,000 shares on Friday.

Get Alerts

Follow ProPakistani to get latest news and updates.

ProPakistani Community

Join the groups below to get latest news and updates.