The decision to put off the proposed strike was taken after a four-hour long meeting of union leaders at company's Chakan plant.
In a relief to Pune-based two-wheeler maker Bajaj Auto , its employees union today deferred the proposed strike from tomorrow by two weeks saying that workers have decided to give more time to the management to consider their charter of demands.
The decision to put off the proposed strike was taken after a four-hour long meeting of union leaders at company's Chakan plant.
"We have decided to defer our proposed strike at Chakan plant by two weeks. We have conveyed our decision to the management," Bajaj Auto employee union President Dilip Pawar told PTI.
Pawar said the decision was taken keeping in view the interest of employees and also grant more time to the management to consider the union's demand.
The union, on April 14, had served a notice with a list of demands, which include allocation of CSR funds for education of employees' children, setting up a museum in the name of company's founder Jamnalal Bajaj within a year and allotment of shares at a discounted price.
However, the management had termed the demand for allocation of funds for tribal development from CSR spend and setting up a museum in founder Jamnalal Bajaj's name as "insane".
The company had rubbished all the demands and said it would ensure that production is not hit if the union makes any attempt to disrupt it.
Bajaj Auto had said it has received a notice from its employee union for stoppage of work from April 28 at its Chakan plant.
The Chakan plant employs over 2,000 workers, including around 900 permanent ones, and produces 1.2 million units of bikes including the Pulsar, Avenger, Ninja and the KTM brands a year.
Bajaj Auto stock price
On April 17, 2014, Bajaj Auto closed at Rs 2016.20, up Rs 15.80, or 0.79 percent. The 52-week high of the share was Rs 2193.85 and the 52-week low was Rs 1683.35.
The company's trailing 12-month (TTM) EPS was at Rs 112.15 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 17.98. The latest book value of the company is Rs 273.08 per share. At current value, the price-to-book value of the company is 7.38.
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