Comments
Maruti Suzuki India (MSI) shares gained over 3 per cent in the morning trade on the bourses today after the 13-day strike at its Manesar plant was called off late yesterday.
Cheering the news, the scrip went up by 3.69 per cent to touch an early high of Rs 1,233.35 on the BSE, while on the NSE, the stock touched a high of Rs 1,232, up 3.25 per cent from its previous close.
Later, the scrip trimmed much of its early gains and was trading up by 0.17 per cent at Rs 1,191.50 on the BSE and down by 0.36 per cent at Rs 1,188.90 on the NSE during the pre-noon session.
Following a deal brokered by the Haryana Chief Minister, Mr Bhupinder Singh Hooda, between the workers and the management, the 13-day strike at the company’s Manesar plant in Gurgaon was called off late yesterday.
As part of the deal, MSI will reinstate all the 11 workers that it sacked and take a lenient approach on enforcing a no-work-no-pay rule of eight day’s salary cut for every single day of the strike.
On June 4, the workers went on strike demanding the recognition of a new union, Maruti Suzuki Employees Union (MSEU), formed by those working at the Manesar plant.
During the period, Maruti’s counter has declined by over 3 per cent on the bourses.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.