Some More Troubles for Maruti Suzuki

Some More Troubles for Maruti SuzukiMaruti Suzuki has been trading with a bigger volume of 5,649 shares. Post closing up at 0.14% or Rs 1.70 at Rs 1,184.25, Maruti Suzuki India became one of the major losers on the Sensex recently. The company’s shares majorly rolled as they touched an intraday high of Rs 1,175 as well as an intraday low of Rs 1,156 but finally at 09:43 hrs, the share was cited quoting at Rs 1,163.30, which was finally down Rs 20.95, or 1.77%.

Maruti Suzuki India’s Manesar plant was facing some serious tensions last month including a 13-day strike led by its workers, which directly affected the production of the company but now the company has plans for fresh confrontation with its workers at the Manesar plant.

There is news that the rebel body Maruti Suzuki Employees Union now once again brews a fresh trouble by deciding to boycott the union elections, which were earlier slated on July 16, confirmed by the reports from The Times of India. Post hearing the news, the company said that it neither it recognizes the rebel body nor it is ready to talk to them.

"We will boycott as we have nothing to do with this election process. We feel that this is just an exercise for the Gurgaon plant and Manesar does not require elections at all since we are the workers representative body here," MSEU general secretary Shiv Kumar said.