No demand for Power-Magna Electro

Magna Electro Castings Ltd (CMP:Rs.50)has informed that the Tamil Nadu Electricity Board (TNEB) has imposed restrictions on the Company for usage of electric power to be drawn from TNEB by reducing the maximum demand from the sanctioned load of 2700 KVA to 2000 KVA with immediate effect. Consequently TNEB has also directed the Company to declare power holiday for six days for the month of November 2008 and as per directions to be received from them thereafter. The reduction in maximum demand will result in cut in production (thebullishtrends)