Bhatia Communications Reports Temporary Operations Disruption Due to Flooding in Surat
Bhatia Communications & Retail (India) Ltd has reported a temporary disruption of operations at its facilities due to severe urban flooding in the Surat region. The operational impact follows continuous and unprecedented torrential rainfall that resulted in widespread inundation across the city, impacting company premises.The affected locations include Shop No. 201 to 205 on the First Floor of Bhatia Complex near Sosyo Circle in Bamroli, along with its basement warehouse at the same premise. Additionally, operations were impacted at Poddar Arcade, encompassing Shop No. 242 to 243 in Khand Bazar, Varachha, Surat.
The floodwaters that entered the premises have resulted in damage to company furniture, fixtures, and stock. The Company is currently ascertaining the actual loss arising from this incident.
Regarding business continuity, Bhatia Communications stated that it does not anticipate any material impact on its operations or other activities stemming from the flooding event. The loss and damage sustained are covered by adequate insurance coverage held by the Company.
Stock Price Movement
At the close of trade today, Bhatia Communications & Retail (India) Ltd shares settled at ₹24.79, after registering a decline of 0.84%. The stock navigated its trading session within an intraday range, hitting lows of ₹24.56 and highs of ₹25.44.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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