Finolex Cables jumps on attaining average increase in productivity

04 Nov 2020

Finolex Cables is currently trading at Rs. 275.10, up by 2.35 points or 0.86% from its previous closing of Rs. 272.75 on the BSE.

The scrip opened at Rs. 274.85 and has touched a high and low of Rs. 275.75 and Rs. 272.60 respectively. So far 4140 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 429.90 on 17-Jan-2020 and a 52 week low of Rs. 165.00 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 279.85 and Rs. 268.20 respectively. The current market cap of the company is Rs. 4198.19 crore.

The promoters holding in the company stood at 35.92%, while Institutions and Non-Institutions held 25.85% and 38.23% respectively.

Finolex Cables has attained an average increase in productivity by 15% to 25% across plants post lockdown, due to the company's stringent measures and compliant procedures demonstrating a commitment to stakeholders. Centered around various guidelines issued by the Central and State Governments, Finolex Cables has taken several stringent measures and introduced guidelines in the interest of employee safety as well as to ensure near-normal operations. A cross-functional COVID Response Team formed to monitor the situation daily and initiate appropriate actions is core to the commencement and maintenance of high levels of productivity at their facilities.

In addition to this, Finolex Cables organized a safety awareness drive among the employees, along with the implementation of a four-pronged COVID-19 preparedness strategy that involves Screening and Monitoring, Prevention and Awareness, Disinfection, Sanitisation, and Social Distancing. The company distributed free homeopathy medication, placed steam equipment at various points and constant engagement activities to educate employees on the various preventive measures was regularly done.

Finolex Cables is India's largest and leading manufacturer of electrical and telecommunication cables.

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