Due to pending differences between Management and workers who have lately been resorting to go-slow and other disruptive tactics, Management has decided to temporarily shut down operations of the Ferro Alloys Unit at Kothavalasa in Vizianagaram district, Andhra Pradesh and shift production of ferro chrome to more economical Jajpur facilities.
The Management is engaged in active dialogue with the workers and hopes to resolve the issue in near future enabling it to resume operations. The operations of the Company's other Units will not be adversely affected by this shutdown.
Shares of JINDAL STAINLESS LTD. was last trading in BSE at Rs.36.95 as compared to the previous close of Rs. 36.9. The total number of shares traded during the day was 80781 in over 502 trades.
The stock hit an intraday high of Rs. 38 and intraday low of 36.75. The net turnover during the day was Rs. 3018858.