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 The suspension of three employees’ leaders have been revoked.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 November 24, 2015, MRF closed at Rs 38948.90, down Rs 245, or 0.63 percent. The 52-week high of the share was Rs 46405.35 and the 52-week low was Rs 31374.40.
The company's trailing 12-month (TTM) EPS was at Rs 3686.91 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 10.56. The latest book value of the company is Rs 14338.85 per share. At current value, the price-to-book value of the company is 2.72.
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