TTK Prestige gains after signing long-term settlement with workers' union at Hosur unit

TTK Prestige rose 3.84% to Rs 3,886.15 at 11:31 IST on BSE after the company signed a long-term settlement with the workers' union at its Hosur unit at Tamil Nadu.

The announcement was made after market hours yesterday, 27 August 2015.

Meanwhile, the BSE Sensex was up 338.57 points, or 1.29%, to 26,569.76

On BSE, so far 671 shares were traded in the counter, compared with an average volume of 2,695 shares in the past one quarter.

The stock hit a high of Rs 3,912.15 and a low of Rs 3,800 so far during the day. The stock hit a record high of Rs 4,830 on 28 August 2014. The stock hit a 52-week low of Rs 2,989 on 27 February 2015.

The mid-cap company has an equity capital of Rs 11.64 crore. Face value per share is Rs 10.

TTK Prestige said that the terms of the long-term settlement with the workers' union at its Hosur unit provide for superior productivity as compared to the earlier settlements.

TTK Prestige's net profit dropped 17.2% to Rs 21.96 crore on 4% increase in total income to Rs 351.02 crore in Q1 June 2015 over Q1 June 2014.

TTK Prestige makes kitchen appliances under the Prestige brand.

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