Nestle ends down 1% on strike at Pantnagar plant

The stock finally settled at Rs 1,722, down over 1%.  Around 240,537 shares were traded throughout the day.

UPDATED AT 1052 hrs

Nestle India stock today opened at Rs 1,741, down Rs 6. It touched a low of Rs 1,710 - down over 2% - on news of a illelagal workers strike at its Pantnagar plant.

The stock, however, rebounded into the positive zone and touched a high of Rs 1,760. The stock is currently trading at Rs 1,750, up Rs 3. The stock has seen trades of 10,650 shares on the BSE so far.

According to a notice issued by the company to the BSE, the workers of the company's factory at Pantnagar have resorted to an illegal and unjustified strike relating to disciplinary action taken by the company against a few workers.

The release added, that the company is in dialogue with some concerned people to call off the illegal strike. Appropriate steps have been taken by the factory management towards production at the factory.