KIOCL witnessed a 3% decline at the opening of the NSE on January 10, following the company’s decision to temporarily suspend operations at its Mangalore pellet plant unit.
In an exchange filing on January 10, KIOCL stated that the suspension was due to the non-availability of iron-ore fines. The company assured that it would notify the exchanges once the plant resumes operations. This suspension comes after a similar shutdown on December 12, 2023, when the plant halted operations for a week under comparable circumstances. Normal operations were resumed on December 19th.
As of 11:42 am, KIOCL shares were trading 3.04% lower at ₹358.40.
