1. Aditya Birla Nuvo says workers at Shree Textiles on strike, calls it ‘illegal’

Aditya Birla Nuvo says workers at Shree Textiles on strike, calls it ‘illegal’

Aditya Birla Nuvo on Wednesday said that workers at its group company Jaya Shree Textiles in West Bengal have gone on strike and has termed it as illegal, the company said in a notice to the Bombay Stock Exchange.

By: | Mumbai | Published: May 18, 2017 7:06 AM
According to an official of Jaya Shree Textiles declining to be identified, there are more than 4,000 workers with the company.

Aditya Birla Nuvo on Wednesday said that workers at its group company Jaya Shree Textiles in West Bengal have gone on strike and has termed it as illegal, the company said in a notice to the Bombay Stock Exchange. According to an official of Jaya Shree Textiles declining to be identified, there are more than 4,000 workers with the company. However, the exact reason for the strike and how long it was expected to continue was not known.

The company said in the BSE notice that workmen of Jaya Shree Textiles at Rishra, Hoogly, have gone on illegal strike from May 16. The company, however, did not disclose the reason behind the strike. Jaya Shree Textiles is engaged in manufacturing of linen yarn, linen fabrics, worsted yarn and wool tops.

The turnover of Jaya Shree Textiles division constituted about 25% of the total standalone turnover for the nine-month period ended December 31, 2016. As such the total impact of the said development on the overall operations of the company shall not be material, the BSE notice said.

For the nine months ended December 31, 2016, Aditya Birla Nuvo had reported a standalone net profit of Rs 1,313.60 crore on net sales of Rs 3,590.26 crore. The shares of Aditya Birla Nuvo on Wednesday closed at `1702.65 a share on the Bombay Stock Exchange up 0.02% from its previous close.

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    Gautam Arora
    May 18, 2017 at 7:57 am
    Side effects of leaving of Mr Rajinder kaushik
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