J.K Cement slumped 8.35% to Rs 904.70 after the company announced halting production and office operations at its facilities with immediate effect till further notice.
J.K Cement has been taking all recommended precautions in its operations against the spread of Covid-19 which includes sanitization and hyegiene, temperature checks, working with reduced workforce, maximizing video-conferencing and minimizing contact, closing employee travels, health and distancing through advisories to employees and following all Government directions on the subject.
As a next step, the government policy now requires closure of production and accordingly the company has taken a decision on production closure.
The company will shut production and office operations at its subject facilities at Rajasthan, Haryana, Madhya Pradesh and Uttar Pradesh with immediate effect till further notice. The company added that duration of the shutdown will depend upon government policies.