Stocks

Jamna Auto falls on plant shut-downs amid industry-wide crisis

Reuters August 9 | Updated on August 09, 2019 Published on August 09, 2019

Shares of Jamna Auto Industries Ltd fell as much as 8.5 per cent to Rs 36.5 on Friday morning. The company might shut all its plants in August due to weak demand from its customers, the maker of springs used in vehicle suspensions said on Thursday, underscoring the extent of the slowdown in the auto sector.

India's auto sector is facing a downturn, which industry executives say is the worst affected, triggering massive job cuts and factory shutdowns.

Up to last close, the stock was down 38.5 per cent this year, while peer Gabriel India Ltd fell 31 per cent.

Published on August 09, 2019
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