Apollo Tyres Ltd’s shares were down by 2.86 per cent after the company announced a temporary halt in the production of Bias and OTR (Off-the-Road) tyres at its Limda facility in Gujarat. The disruption comes after shop-floor employees raised concerns over the renewal of a long-term settlement agreement.
The company is engaged in negotiations with representatives of the labour union to seek a mutually favourable resolution. The company has implemented contingency plans to avert supply chain disruptions.
The shares were down by 2.86 per cent to Rs 368.05 at 10.15 am on the BSE.