Jun 24, 2011, 01.01 PM | Source: Reuters
Tyremaker MRF said a lock-out at its plant in Kerala has been lifted effective Friday morning.
The meeting was convened by Regional Joint Labour Commissioner Vincent Alex to find a solution to the differences between the management and the unions on trivial issues.
The plant will start operation on Friday morning, MRF sources said. The suspension of three employees’ leaders have been revoked. The Regional Joint Labour Commissioner will study other issues and submit his report within a week.
On Wednesday, the firm had declared a lock-out in the unit due to labour unrest causing its shares to fall more than 5%.
MRF stock price
On June 24, 2016, MRF closed at Rs 31361.40, down Rs 316, or 1 percent. The 52-week high of the share was Rs 46405.35 and the 52-week low was Rs 30464.25.
The company's trailing 12-month (TTM) EPS was at Rs 3941.13 per share as per the quarter ended March 2016. The stock's price-to-earnings (P/E) ratio was 7.96. The latest book value of the company is Rs 16140.37 per share. At current value, the price-to-book value of the company is 1.94.