Bajaj Auto is trading lower by 1.5% at Rs 1,774 after the company said production at the company’s Chakan plant has been affected due to a labor strike.
The stock opened at Rs 1,783 and hit a low of Rs 1,760 on NSE. A combined 75,738 shares have changed hands on the counter till 1000 hours on NSE and BSE.
“The workers at the Chakan plant have stopped coming to work from June 25, 2013 following management’s refusal to concede to their demand,” Bajaj Auto said in a regulatory filing.
The workers at the plant have been demanding an option to subscribe to 500 equity shares of the company at a discounted price of Re 1 share, it added.
The workers union at the Chakan plant, Vishwa Kalyan Kamgar Sanghatana had earlier proposed for a stoppage of work from the morning shift of June 28, 2013.
The Chakan plant has an installed capacity of 1.2mn units (around 22% of the total installed capacity) and it manufactures products like Pulsar, Avenger, Ninja and KTM.
The stock opened at Rs 1,783 and hit a low of Rs 1,760 on NSE. A combined 75,738 shares have changed hands on the counter till 1000 hours on NSE and BSE.
“The workers at the Chakan plant have stopped coming to work from June 25, 2013 following management’s refusal to concede to their demand,” Bajaj Auto said in a regulatory filing.
The workers at the plant have been demanding an option to subscribe to 500 equity shares of the company at a discounted price of Re 1 share, it added.
The workers union at the Chakan plant, Vishwa Kalyan Kamgar Sanghatana had earlier proposed for a stoppage of work from the morning shift of June 28, 2013.
The Chakan plant has an installed capacity of 1.2mn units (around 22% of the total installed capacity) and it manufactures products like Pulsar, Avenger, Ninja and KTM.
