Gujarat Alkalies and Chemicals has informed the exchanges that some contract workers at its Vadodara manufacturing complex have gone on strike from Tuesday, demanding higher bonus. The company said operations have not been affected much, as some workers on annual contracts have rejoined work, even as other staff continued to work. Operations at the company’s Dahej complex have not been affected by the strike, it said, and added that it is in dialogue with contractors for arriving at an amicable solution. The board had recently approved a complete halt of operations at its calcium chloride plants at Vadodara and Dahej and sale of their equipment and machinery, as the “plants have been incurring losses since their commissioning”. The stock of Gujarat Alkalis closed flat at ₹167.60 on the NSE.

Prism Cement has acquired a 50 per cent equity stake in Coral Gold Tiles Private Limited, Morbi, a company in the business of manufacturing ceramic wall tiles. Following the stake buy, Coral Gold Tiles has become a joint venture of Prism Cement from November 4. Shares of Prism Cement slipped 3.8 per cent at ₹85.75 on the NSE.

Steel Strips Wheels has won an order worth $500,000 to export 12,000 trailer and truck steel wheels for after market sales in South Korea, the company said in a notification to the exchanges.The order will be executed over the next one year, and the company expects volumes to double in the year after that. The order will be executed from the Jamshedpur plant, Steel Strips Wheels said, adding that the order marks its entry into the South Korean market. Shares of Steel Strips Wheels closed at ₹361.80, up 0.08 per cent on the NSE.

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