Bolan Castings Limited (PSX: BCL) has halted production effective August 26 (Monday), until further notice.
“Due to the drastic drop in orders from our customers, the Company is facing a drop in sales. Additionally, delay in payments from our main customer is also causing severe financial strain. Hence, the management of the Company has decided to halt the production activities of the Company from Monday August 26, 2024 till further notice,” the stock filing stated.
The company manufactures and sells casting for tractors and automotive parts. The company is a subsidiary of Millat Tractors Limited.
BCL’s scrip at the bourse closed at Rs. 93.89, down 10 percent or Rs. 10.43 with a little over 97,000 shares on Friday.
About the Author
Written by the expert legal team at Javid Law Associates. Our team specializes in corporate law, tax compliance, and business registration services across Pakistan.
Verified Professional
25+ Years Experience