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In a statement to the stock exchanges, Aditya Birla group's company said that operations at the unit has been shut down temporarily on account of stoppage of work by the workers. It added that the incident will not substantially impact company's financials.
K C Birla, chief financial officer (CFO) of UltraTech, told Business Standard that there was reportedly some manhandling between office bearers (at the plant) and security(men) because of which workers had stopped working. The management has initiated an inquiry into the matter.
UltraTech currently commands a capacity of 52 million tonnes per annum and is among world's top ten cement giants along with global peers like Holcim, Lafarge, Cemex, Italicementi and Heidelberg.
On the Bombay Stock Exchange, shares of UltraTech traded week on Friday and closed at Rs 1,866, down 0.22% or Rs 4.15.
