Kirloskar Electric rallies 6% after lifting lockdown at Bengaluru unit

The company had first informed the exchanges about the lockout on October 16 due to alleged non-cooperation by the workers at the facility.

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Shares of Kirloskar Electric gained 6.35 percent at the open on the NSE on November 21, a day after the electric device company lifted the lockdown at its Bengaluru unit. At 9:40am, the stock was trading at Rs 127.35, around 5 percent higher.

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“The management has withdrawn the lockout at the Company’s unit no. 15 situated at Bhudihal, Bengaluru Rural District with effect from November 20, 2023 at 06:30 AM and has requested all workmen through labour union to report to work,” Kirloskar Electric said in a regulatory filing on November 20. The company had first informed the exchanges about the lockout on October 16 due to alleged non-cooperation by the workers at the facility.

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Kirloskar Electric manufactures products for sectors such as power generation, transmission and distribution, transportation, and renewable energy. It has nine manufacturing locations across the country.

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