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An update from Asian Granito India Limited ( (IN:ASIANTILES) ) is now available.
Asian Granito India Limited and its subsidiaries have received notifications from Gujarat Gas and Sabarmati Gas about restrictions in gas supply due to a force majeure situation linked to the Middle East conflict and its impact on global energy markets. As a result, some manufacturing units may face limits on contracted gas quantities and non-MGO gas usage, causing a temporary and partial impact on production.
The company is exploring alternate fuels and operational measures to mitigate the disruption and maintain business continuity, and current inventory levels are allowing dispatches to continue as normal. Management says it does not currently expect a material impact on overall operations, but it is unable yet to quantify the potential effect and will monitor the situation and update stakeholders if there are significant developments.
More about Asian Granito India Limited
Asian Granito India Limited operates in the ceramics and building materials industry, manufacturing tiles and related products for construction and infrastructure markets in India and abroad. The company runs multiple gas-fired manufacturing units and relies on domestic gas suppliers to support its production and dispatch operations.
Average Trading Volume: 118,804
Technical Sentiment Signal: Sell
Current Market Cap: 15.97B INR
See more data about ASIANTILES stock on TipRanks’ Stock Analysis page.