GE Power India exempts shop floor employees from work

GE Power India on Tuesday informed the exchanges that it has exempted shop floor employees from work at its factory located at Shahabad, Karnataka. The company, however, clarified that it will continue to pay full wages during the period. GE Power manufactures power mills at the factory and due to a downward trend in the new power mills market, the company had been suffering a steady decline in orders for a couple of years. The company does not anticipate any changes in the power mills market environment in the near future. Shares of GE India gained 1.12 per cent at ₹900 on the BSE.