Maruti spurts nearly 4% as strike at Manesar plant ends
Shares of Maruti Suzuki India rose by nearly 4% on the bourses today after the 14-day-long strike at the company's Manesar's plant was called off this morning.business Updated: Oct 21, 2011 10:46 IST
Shares of Maruti Suzuki India rose by nearly 4% on the bourses on Friday after the 14-day-long strike at the company's Manesar's plant was called off this morning.
Following the development, shares of the company jumped by 3.88% to Rs 1,117.55 on the BSE and were the best performer among the Sensex blue-chips at 0955 hours. Similarly, on the NSE, the stock surged by 3.71% to Rs 1,117.50.
Analysts said that the news is positive for the company and a continuous uptrend in the company's stock is expected.
The 14-day-long strike at Maruti's Manesar plant was called off this morning after a tripartite agreement was reached between the management, workers and Haryana government.
As part of the agreement, the management has agreed to take back 64 permanent workers, but another 30 will remain suspended.