Ashok Leyland announces non-working days
Hinduja Group flagship firm Ashok Leyland on Monday announced non-working days at its various manufacturing facilities following weak demand. “Following are the non-working days at our various plant locations during September 2019 due to continued weak demand for our products”, the company said in a BSE filing.
Accordingly, Chennai-based heavy commercial vehicle major has announced 16 days non-working days for its facility in Ennore, five days at Hosur (Tamil Nadu) unit, 10 days each in Alwar (Rajasthan) and Bhandara (Maharashtra) unit and 18 days in Pantnagar (Uttarakhand) facilities.
The move by the company follows slowdown in the automobile sector that has forced many manufacturers and component suppliers to cut production and plan temporary plant closures. Last month, Chennai-based TVS Group auto component maker Sundaram Clayton, automobile major Maruti Suzuki, and two-wheeler maker Hero MotoCorp had announced suspension of production at their facilities in line with market demand.
Tata Motors and Mahindra & Mahindra have also said they are suspending automobile manufacturing in order to adjust production with market demand. Shares of Ashok Leyland were trading at Rs 63.05 apiece, down 1.33 per cent over the previous close at the BSE.