Bosch rises on BSE as strike at Bangalore plant is called off

Stocks were trading 1.26% higher at Rs 8,410 a share on the BSE

Shares of Bosch Ltd took a northward journey in the early morning trade on BSE after the "tool down" strike by the 2,500-odd employees at the Adugodi plant of Bosch in Bangalore was called off Saturday. The stocks were trading 1.26% higher at a price of Rs 8,410 in the afternoon on BSE.

Owing to strike the shares had to take a beating  and it opened on the bourses today at Rs 8395.65

The strike, started after the first shift on Thursday, ended late evening on Saturday after the management agreed on certain demands of the Mico Employees' Association (MEA), who were protesting the suspension of one of their members.

The agreement was reached after the intervention of the additional labour commissioner late Saturday evening. Workers resumed production at the plant from the night shift on Saturday, immediately after the strike was called off, this paper reported.

A Bosch spokesperson confirmed the development: "The management and the union meeting concluded with a quick resolution on the issues, supported by intervention of additional labour commissioner. The suspension of the employee has been withdrawn. However, inquiry will still continue."