Carborundum Universal stock may witness rough weather at the bourses on reports of labour trouble at the company’s Kalamassery unit. A PTI report said, 43 migrant workers from West Bengal, Rajasthan and Orissa have stopped going to work after December 5 trouble, which has affected the production. Though its financial impact is not known immediately, the company reported a 49per cent drop in net profit to Rs 34 crore for the quarter ended September 30, 2012, against Rs 66 crore in the corresponding quarter last year. Profitability of all businesses came under pressure due to rising input costs, a strong dollar, and a challenging customer market.
Carborundum Universal's troubled unit
December 9, 2012: