Shares of Greenply Industries fell more than 3% to an intra-day low of ₹337.60 on December 13, following an announcement about the temporary shutdown of its medium-density fiberboard (MDF) plant.
The plywood manufacturer said that its wholly-owned subsidiary, Greenply Speciality Panels Pvt. Ltd, had halted operations at the Sherpura-based plant in Vadodara, Gujarat, due to a machinery breakdown.
In a regulatory filing, Greenply Industries confirmed that the plant ceased manufacturing activities on December 11, 2024. However, the company reassured stakeholders that the issue was not major and that corrective measures were already underway to resolve the situation.
The company expects production to resume within a few days, stating that the disruption was temporary and the necessary steps were being taken to restore operations swiftly.
Despite the short-term impact on stock prices, Greenply Industries has shown strong performance over the past year. The stock has posted a return of 8.62% in the past month and 22.83% over the last 6 months, reflecting solid momentum.
Year-to-date, the stock has grown by 1.02%. Over the last 12 months, Greenply has delivered an impressive return of over 67.40%, underscoring its consistent growth trajectory in the longer term.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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