KEI Industries shares slip on D-Street—Here's why

KEI Industries share price today NSE: KEI Industries shares slipped on Thursday, June 20, a day after the company's employees announced a strike, partially affecting operations of plants located at Rakholi and Chinchpada. The stock of KEI Industries—a New Delhi-based manufacturer and supplier of electrical wires and cables—declined 3 per cent to the day's low of Rs 4,301.05 on NSE in the morning deals, extending declining for the fourth straight session. The counter closed at Rs 4,422, down 0.3 per cent on NSE. 

KEI Industries on Wednesday said that operations at its Rakholi and Chinchpada are partially affected as a labour strike has led to a stoppage in production.

"We wish to inform you that operations of the Plants situated at Rakholi and Chinchpada are partially affected due to stoppage of production, in view of strike announced by Labour w.e.f. 19th June, 2024. However, there is no strike at other plants," the filing said.

The company added that it is in continuous discussion with the concerned labour contractors and workers to resolve the issue amicably as soon as possible and will provide an update on further developments in due course. 

KEI Industries shares: Past performance

KEI Industries shares have rewarded investors with a return of nearly 100 per cent in last one year, sharply outperforming a 25 per cent rise in the headline Nifty index.

For all other news related to business, politics, tech and auto, visit Zeebiz.com.