Manaksia Suspends Work At Assam Plant

Manaksia said on Wednesday that it has suspended work at its mosquito coil manufacturing unit located in Assam with effect from May 16 till further notice.

"Some workmen had indulged in violent demonstration, strike and various other wrongful acts in and around the unit and have adopted go slow tactics, which has jeopardized the business and peaceful environment of the plant," the company said in a statement to the stock exchanges.

The intimation of suspension of work has been filed with appropriate authorities, the company informed and added that the disruption of work would not have any material impact on the company's performance, as it is a lean period with respect to the items manufactured in that unit.

Shares of Manaksia are now trading at Rs.116.70 on the BSE, down about 1.5%, while the benchmark 30-share Sensex is up about half a percent.