Hindustan Motors declare 'suspension of work' at Uttarpara plant

Hindustan Motors Ltd has announced that further to Company management's letter dated April 02 & 05, 2007 to the five registered trade unions, the law & order situation at Uttarpara continues to be disconcerting. A small group of workers are able to harass 2100 plus employees reporting for duty and prevent an additional 1000 plus willing employees from joining duty.

Complete blockade of ingress and egress of material continues.
As a result the management was constrained to declare 'suspension of work'. The Company is hopeful that the competent authorities will intervene in restoring law & order in and around the plant, in accordance with the High Court Order.

On Tuesday's trading the stock closed up by Re.0.25 or 0.74% at Rs.34. The total traded quantity was 188599 compared to 2 week average of 174270 shares. The stock hit an intraday high of Rs.34.70 and low of Rs.33.75.

Source : Equity Bulls

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