JK Paper said Tuesday that lockout at its manufacturing unit in Odisha has been lifted, sending its shares up by close to 5 per cent on bourses.
In a regulatory filing, the company said contract workers at unit JKPM at district Rayagada have called off stoppage of work and accordingly, the lockout declared by JK Paper at the plant on August 31, 2018, has been lifted.
"... Some of the contract workers at unit JKPM at district Rayagada, Odisha, had resorted to illegal and unlawful stoppage of work, which has resulted in disruption of production threat since then," JK Paper had said in a BSE filing on August 31.
It further had said, "The company, due to their continued illegal and unlawful activities of stoppage of work, has declared a lockout with effect from today August 31, 2018, at the said unit and it shall continue till further notice in this regard".
Shares of JK Paper were trading 4.98 per cent up at Rs 171.80 on BSE.
Disclaimer: No Business Standard Journalist was involved in creation of this content
