India's Sanghi drops after co suspends operations as Cyclone Biparjoy nears

Sanghi Industries

15/06/2023 05:09

** Shares of Sanghi Industries Ltd  SNGI.NS  open 5% lower
at 65.7 rupees, their lowest since April 28
    ** The cement maker on Wednesday said it discontinued
operations at its Sanghipuram cement plant in Gujarat due to
Cyclone Biparjoy
    ** Operations will resume after restoration of normal
conditions, adds co
    ** Authorities in India's western state of Gujarat evacuated
more than 75,000 people from vulnerable coastal communities as
Biparjoy was expected whirl in from the Arabian Sea to make
landfall by Thursday evening 
    ** About 481,282 shares change hands, 0.8x the 30-day avg -
Refinitiv Data
    ** Sanghi stock down 1.4% YTD, as of last close


 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))