- Hour-long strike at Maruti Plant
- Titan Q1 net profit up 76.37% to Rs. 143.36 cr
- Govt nod to national social security fund
Hour-long strike at Maruti Plant
Workers at Maruti Suzuki India Ltd's plant at Manesar went on an hourlong tooldown strike on Thursday, after the car maker initiated disciplinary action against six workers for allegedly assaulting a company supervisor on Wednesday.
“Yesterday some of the workers assaulted one of the supervisors. When the company took a disciplinary action and suspended them today, (the) rest of them struck work,“ a company spokesperson said. The workers, however, said it was not a fullscale strike but admitted an hour's tool down would have led to a production loss of at least 6070 cars.
Titan Q1 net profit up 76.37% to Rs. 143.36 cr
Watch, eyewear and jewellery maker Titan Industries Ltd on Thursday posted a 76.37% increase in net profit at `143.36 crore for the quarter ended 30 June. The Tata group company's net profit for the first quarter of last fiscal was `81.28 crore.
Net sales for the three months ended 30 June grew 61.28% to `2,020.51 crore, compared with `1,252.76 crore in the corresponding period last fiscal, it said in a filing to the Bombay Stock Exchange.
During the quarter, the firm's shareholders approved the subdivision of existing equity shares of `10 face value into 10 shares of `1 each.
Govt nod to national social security fund
The Government on Thursday approved the constitution and operation of a National Social Security Fund for unorganized sector workers with an initial allocation of `1,000 crore.
Union finance minister Pranab Mukherjee had announced the formation of the fund in his 201011 budget speech. The constitution of the und, which was cleared by the Union cabinet on Thursday, will support social security schemes for various segments of unorganized workers such as weavers, toddy tappers, rickshaw pullers, `bidi' workers, etc.
(Source-: mintlive.com)