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Workers Strike at Paper Mill of South India Paper Mills Ltd

Posted On: 2017-03-20 12:15:46

The Worker's Union hos commenced an indefinite strike w.e.f 20.03.2017 of the Company's Paper Mill of Chikkayanachatra, Nanjangud.

The wage settlement between the Management and Worker's Union was in force upto 31.03.2016 and as such Management was negotiating with the Union for a fresh 4 year settlement based on a charter of demand submitted by the Union. The matter was also referred to the Labour Department Authorities. Meanwhile, the Union has token an unilateral decision to go on strike to press for their demands and has commenced strike from 20.03.2017.

Shares of SOUTH INDIA PAPER MILLS LTD. was last trading in BSE at Rs.109.45 as compared to the previous close of Rs. 108.5. The total number of shares traded during the day was 1522 in over 21 trades.

The stock hit an intraday high of Rs. 109.5 and intraday low of 105. The net turnover during the day was Rs. 162635.


Source: Equity Bulls

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