The company resumed partial operations at its Paithan plant in Aurangabad on April 16.
Hindustan Composites share price rose 10 percent intraday on April 16 after the company resumed partial operations at its Aurangabad unit.
The stock has gained more than 40 percent after hitting multi-year lows on March 23. It was trading at Rs 142.75, up Rs 12.75, or 9.81 percent, on the BSE at 1340 hours.
After getting permission from the local administration, the company resumed partial operations at Paithan plant, Aurangabad, from April 16, Hindustan Composites told BSE.
The company suspended work at all its manufacturing units from March 23 as a safety measure to contain the spread of the coronavirus.Hindustan Composites manufactures friction material, industrial sealing and safety products catering to industrial sectors such as automotive, railways engineering, mining, aerospace, chemical, steel, etc.