Maruti Suzuki skids as violence erupts at its Manesar plant

Tanks 5% in the opening deals

Maruti Suzuki has slipped 5% to Rs 1,160 in the opening deals after the violence erupted at its Manesar plant forcing stoppage of work.

One person was killed and at least 90 were injured on Wednesday in a clash between workers and the managerial staff at Maruti Suzuki India’s Manesar plant, forcing stoppage of work.

“One person died of burn injuries in the incident,” Gurgaon Police Commissioner K K Sindhu said. In a statement, the company said the violence broke out in the evening when a worker beat up a supervisor on the shop floor. However, the employee union said casteist remarks by the supervisor against an employee triggered the violence. “Work at the plant had to be stopped following the violence,” the company said.

The incident comes within a year of the workers’ settlement with the management. The Manesar unit rolls out the company’s best-selling Swift and DZire cars.

The stocks opened at Rs 1,175 and touched the low of Rs 1,153 in the opening deals. Trading volumes have seen a spurt with 85,000 shares have changing hands in opening moves, as compared to its two-week average of 49,000 shares.