LML reaches agreement with workers, lockout lifted

LML Ltd has announced that a Labour Agreement has been executed pursuant to which, inter alia, the strike has been withdrawn and the lockout would be lifted on April 15, 2007. The operations will resume shortly.

The stock was trading at Rs.12.69, up by Rs.0.60 or 4.96%. The stock hit an intraday high of Rs.12.69 and low of Rs.12.69. The total traded quantity was 47056 compared to 2 week average of 369169.

The stock was struck at the upper level of circuit limit of 5% after the announcement. The stock had pending buy orders for 1335322 shares.

The stock has fallen from a high of Rs.47.15 hit on May 3, 2006 and hit a low of Rs.8.25 on December 13, 2006. The stock has been recovering slowly and currently up by 31.10% when compared to last month's price of Rs.9.68.

Source : Equity Bulls

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