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Auto component maker Subros’ stock up 4% on full resumption of supply to Maruti

Sensex-BSE

Shares of auto component maker Subros Ltd rose by almost 4% today after the company, which had halted production at its Manesar plant after a fire incident last month, resumed full supplies to Maruti Suzuki India from its other facilities at Noida, Pune and Chennai.

After a positive opening, shares of the company further gained 3.91% to Rs 94.20 on BSE. At NSE, the stock climbed 3.96% to Rs 94.45.

“Further, the company is working on fast-track basis to re-build the Manesar facility so as to commence production in phased manner,” the company had said on Saturday.

It has reinstated full supplies to MSI from its other plants at Noida, Pune and Chennai, Subros had said in a regulatory filing.

On May 29, a major fire broke out at the Manesar plant of Subros which took more than three hours to douse. There were no reports of casualty.

The fire incident led MSI to temporarily suspend production at its Guragaon and Manesar facilities.
PTI

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