Shares of kitchen appliances firm TTK Prestige today surged as much as five per cent on bourses after the company said it has signed a long-term settlement with the workers' union at its Hosur unit in Tamil Nadu.
"The company has signed a long-term settlement with the workers' union at the company's Hosur unit in Tamil Nadu. This settlement provides for a superior productivity compared with the earlier settlements," the company said in a regulatory filing on August 27.
Shares of the company opened on a strong note at Rs 3,800 and then jumped 4.53 per cent to an early high of Rs 3,912.15.
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The stock, however, lost some early gains, quoting at Rs 3,886.15, up 3.84 per cent at 1138 hours.
A similar movement was seen on the National Stock Exchange as well, where the stock opened at Rs 3,760 before jumping 5.12 per cent to hit an intra-day high of Rs 3,920. The shares were later trading at Rs 3,899.95, up 4.58 per cent, on NSE at 1139 hours.
