M&M gains as workmen at Nashik plant call off strike

Mahindra & Mahindra (M&M), one of the leading passenger and commercial vehicle manufacturers, gained on Friday after the company announced, the tool down strike by employees of its Nashik plant which started on Mar. 5, 2013 as well as the proposed strike from Mar. 11, 2013 has been called off.

''Operation in all shifts is expected to be normal soon. The Management and union will continue their ongoing dialogue so as to reach a mutual agreement. The Management expects the production loss to be made good.'' Shares ofthe companyare trading at Rs 897.45, up Rs 12.45, or 1.41% at the Bombay Stock Exchange (BSE) on Friday at 10:09 a.m.The scrip has touched an intra-day high of Rs 901.75 and low of Rs 894.20. The total volume of shares traded at the BSE is 41,737.In the earlier session, the shares rose 0.76%, or Rs 6.65, at Rs 885.00. Currently, the stock is trading down 7.93% from its 52-week high of Rs 974.80 and above 44.34% over the 52-week low of Rs 621.75.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 886.65 (1.65) (0.19) 1 Month 884.30 0.70 0.08 3 Months 936.85 (51.85) (5.53) 6 Months 765.10 119.90 15.67 1 Year 673.75 211.25 31.35 Note: Based on previous day closing price.