Bajaj Auto is trading higher by 2.2% at Rs 1,901, extending its previous day’s 3% gain, after the company said workers union at the company’s Chakan plant has called off the strike and is slated to resume work from today.
On August 13, 2013 the company have received, a notice from the workmen's union, Vishwa Kalyan Kamgar Sanghatana stating that the said stoppage has been withdrawn and all the workmen at Chakan Plant will resume their duty in their respective shifts from August 14, 2013, Bajaj Auto said in a regulatory filing.
The Chakan plant which has an installed capacity of 1.2 million units annually (around 22% of the total installed capacity), manufactures products like Pulsar, Avenger, Ninja and KTM.
This is very important for the company going into the festival season and also due to the fact that the company has plans to launch new family of Discover models around the festival season, says analyst at Angel Broking in a note.
The stock opened at Rs 1,865 and hit a high of Rs 1,908 on BSE. A combined 285,810 shares changed hands on the counter till 1305 hours on BSE and NSE.
On August 13, 2013 the company have received, a notice from the workmen's union, Vishwa Kalyan Kamgar Sanghatana stating that the said stoppage has been withdrawn and all the workmen at Chakan Plant will resume their duty in their respective shifts from August 14, 2013, Bajaj Auto said in a regulatory filing.
The Chakan plant which has an installed capacity of 1.2 million units annually (around 22% of the total installed capacity), manufactures products like Pulsar, Avenger, Ninja and KTM.
This is very important for the company going into the festival season and also due to the fact that the company has plans to launch new family of Discover models around the festival season, says analyst at Angel Broking in a note.
The stock opened at Rs 1,865 and hit a high of Rs 1,908 on BSE. A combined 285,810 shares changed hands on the counter till 1305 hours on BSE and NSE.
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