Nitco declares temporary lock out at its tiles mfg unit at Alibaug

Tiles maker Nitco Ltd on Monday said a lock out has been declared at its tiles manufacturing unit at Alibaug for a temporary period.

"The lock out was necessitated due to non co-operation, coercive and threatening tactics by workmen at the factory premises and with a view to safeguard the interest of the organisation, the safety and security of the personnel and the property of the Company," the tiles maker said in a regulatory filing.

The shares of Nitco Ltd were trading at Rs 29.30 a piece on BSE, down 4.09 per cent from the previous close.