Disruption of Operations at Limda Plant of Apollo Tyres Ltd

Apollo Tyres Ltd has announced that Bias and OTR tyres production at its manufacturing facility in Limda, Gujarat has been stopped due to certain concerns amongst shop floor employees relating to renewal of long-term settlement agreement.

The Company is in discussions and negotiations with the labour union representatives to address their concerns and find an amicable resolution.

The Company is dedicated to the welfare of its employees, the interests of its stakeholders and the continued stability of the organization. While the Company is monitoring the situation closely, there are plans in place to mitigate any supply disruptions.

There is no material impact on the operations at this stage.

Shares of Apollo Tyres Limited was last trading in BSE at Rs. 378.90 as compared to the previous close of Rs. 372.85. The total number of shares traded during the day was 56368 in over 1481 trades.

The stock hit an intraday high of Rs. 379.80 and intraday low of 370.65. The net turnover during the day was Rs. 21195743.00.

Source : Equity Bulls

Keywords

ApolloTyres INE438A01022 LimdaPlant Disruption