Markets end lower with auto, IT stocks under pressure
The benchmark indices ended lower on Friday, with auto and Information Technology stocks remaining under pressure amid concern over the upcoming US tariffs.
Auto component maker Bosch Ltd on Saturday said it has shut down its manufacturing plant located in the catchment area of the polluted Bellandur lake here.
In a regulatory filing to the BSE, the company said it had temporarily ceased operations of its Adugodi plant on a notice from the Karnataka State Pollution Control Board on Friday to industrial units in the lake catchment area.
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The Board issued the notice following the April 19 order of the National Green Tribunal to shut down all industries in the lake's vicinity for saving and restoring it.
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"Pursuant to the above notice, the company hereby informs the temporary closure of its facilities at Adugodi in Bengaluru with effect from today (Saturday)," said the company in the filing, adding that the loss of turnover per day is Rs 393 lakh (Rs 3.93 crore) per day, in case supplies to the customers are affected.
Bosch said it will study options to seek relief from the notice to resume operations soon.
"We will also ensure that our deliveries to the customers are not impacted," it said in thge filing.
Asserting that it had upheld highest standards to protect environment, Bosch said it was confident of operating the plant within the prescribed norms at all its facilities.
The Bosch plant is among the industrial facilities the Board has listed in the notice and posted on its website.
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