Shares of kitchen appliances firm TTK Prestige today surged as much as five per cent on the bourses after the company said it has signed a long-term settlement with the workers’ union at its Hosur unit in Tamil Nadu.
“The company has signed a long-term settlement with the workers’ union at the company’s Hosur unit in Tamil Nadu. This settlement provides for superior productivity compared with the earlier settlements,” the company said in a regulatory filing on August 27.
Shares of the company opened on a strong note at Rs 3,800 and then jumped 4.53 per cent to an early high of Rs 3,912.15.
The stock, however, lost some early gains, quoting at Rs 3,886.15, up 3.84 per cent at 1138 hours.
A similar movement was seen on the National Stock Exchange as well, where the stock opened at Rs 3,760 before jumping 5.12 per cent to hit an intra-day high of Rs 3,920.
The shares were later trading at Rs 3,899.95, up 4.58 per cent, on the NSE at 1139 hours.