Kennametal India signs long-term settlement with workers union

Kennametal India Limited's ("KIL") Management has signed a long-term settlement with the Kennametal India Employees Association ("Workers' Union") on March 4, 2022.

The Workers' Union had earlier sent strike notice for non-fulfillment of Charter of Demands ("COD"). The Management and the Workers' Union had negotiations in good faith, leading to a positive closure of the settlement. Consequently, the said strike notice was withdrawn by the Workers' Union vide a letter dated March 4, 2022. This settlement is a positive step in the direction of strengthening their mutual relationship.

Speaking of the COD settlement, Mr. Vijaykrishnan Venkatesan, Managing Director of KIL mentioned that, "We have a longstanding positive relationship with the Workers' Union, and I am confident that the conclusion of this agreement will further foster our collaboration towards a sustainable growth of KIL."

Shares of Kennametal India Limited was last trading in BSE at Rs. 1939.25 as compared to the previous close of Rs. 1945.35. The total number of shares traded during the day was 762 in over 221 trades.

The stock hit an intraday high of Rs. 1988.00 and intraday low of 1902.05. The net turnover during the day was Rs. 1473205.00.

Source : Equity Bulls

Keywords

KennametalIndia INE717A01029 LongTermSettlement WorkersUnion