The strike at the plant is now threatening to spread to the Gurgaon-Manesar belt, with a panel of workers of various firms in the region warning of a similar stir if the demands of their agitating colleagues at India's largest car-maker are not met
New Delhi: The country's largest car-maker Maruti Suzuki India today said production at its Manesar facility continues to be completely stopped as the workers' strike at the plant entered its 7th day.
"The situation is the same as yesterday," a company spokesperson told PTI.
Around 2,000 workers at the plant have been on strike since Saturday, resulting in a production loss of about 5,400 units till yesterday. The value of the loss is estimated to be around Rs270 crore.
The strike at the plant is now threatening to spread to the Gurgaon-Manesar belt, with a panel of workers of various firms in the region warning of a similar stir if the demands of their agitating colleagues at India's largest car-maker are not met.
The Manesar plant rolls out about 1,200 units every day in two shifts.
The factory produces hatchbacks Swift and A-Star and sedans DZiRE and SX4.
The company's scrip was trading at Rs1,195.75 in noon trade on the Bombay Stock Exchange, down 1.77% from its previous close.
The Delhi High Court had on 8th June dismissed the bail pleas of Ms Kanimozhi and Kalaignar TV MD Sharad Kumar, saying they have strong political connections and the possibility of them influencing witnesses cannot be ruled out
New Delhi: Dravida Munnettra Kazhagam (DMK) Member of Parliament Kanimozhi and Kalaignar TV MD Sharad Kumar, accused in the 2G spectrum case, on Friday moved the Supreme Court of India seeking bail, reports PTI.
Ms Kanimozhi, the 43-year-old daughter of DMK chief M Karunanidhi, and Mr Kumar have challenged the Delhi High Court verdict rejecting their bail.
“We have filed a Special Leave Petition (SLP) on behalf of both Ms Kanimozhi and Mr Kumar challenging the high court order,” senior advocate VG Pargasm said.
The high court had on 8th June dismissed the bail pleas of Ms Kanimozhi and Mr Kumar, saying they have strong political connections and the possibility of them influencing witnesses cannot be ruled out.
Ms Kanimozhi and Mr Kumar, named as accused in the second charge-sheet for allegedly taking bribe of Rs200 crore, were arrested on 20th May after the special court dismissed their bail pleas in the case.
Both Ms Kanimozhi and Mr Kumar have 20% stake each in Kalaignar TV Pvt Ltd which allegedly received Rs200 crore through a ‘circuitous’ route from Shahid Balwa promoted DB Realty.
The DMK chief’s wife Dayalu Ammal, who has been left out of the list of accused, owns the remaining 60% shares in the television channel.
Ms Kanimozhi and Mr Kumar had moved the high court on 23rd May challenging the trial court’s order which had rejected their bail pleas, saying the offence attributed to them was grave and the possibility of influencing the witnesses cannot be ruled out.
CBI special judge OP Saini had on 20th May rejected the bail pleas of Ms Kanimozhi and Mr Kumar and ordered their ‘forthwith’ arrest. They are currently lodged in Tihar Jail.
Ms Kanimozhi, who sought bail in the special court on the ground of being a woman, had approached the high court seeking relief citing the need to look after her school-going child who is devoid of her care as his father is working abroad.
Justice Bharihoke had on 23rd May dismissed bail pleas of five corporate honchos, including Unitech Group MD Sanjay Chandra and Reliance ADAG MD Gautam Doshi in the case, saying there was a possibility that they may influence the witnesses.
The Index of Industrial Production (IIP) registered a growth of 6.3% in April as per the new series that was released today with a base year of 2004-05, but factory output nosedived to just 4.4% as per the old series, a sign that the slowdown in the economy was clear
New Delhi: Industrial production, as measured by the Index of Industrial Production (IIP) registered a growth of 6.3% in April as per the new series that was released today with a base year of 2004-05, but the slowdown of the economy was clear as factory output nosedived to just 4.4% as per the old series, reports PTI.
The poor performance of the manufacturing and mining sectors pulled down the overall growth of industry as per the old series with a base year of 1993-94 from 16.6% in April last year.
Meanwhile, factory output in March was revised upward to 7.8% from the provisional estimate of 7.3% released last month.
As per the old series, growth in manufacturing, which constitutes about 80% of the index weight, nosedived to 4.4% in April from a high of 18% in the same month last year.
Mining also grew by a meagre 2.1% during the month under review as against 12% in April 2010. Growth in electricity production also dipped to 6.4% in April from 6.9% in the same period of the previous year.
Another area of concern was the low offtake of capital goods, whose production growth was just 2.5% in April 2011, compared to 64.1% in April last year.
Overall, consumer goods also saw the growth rate slow to 5.9% in April from 11.9% in the same month last year, as per old series.
Meanwhile, as per the new series, manufacturing growth in April stood at 6.9%, while mining and electricity production was up 2.2% and 6.4%, respectively.
Capital goods registered a growth of 14.5% and overall consumer goods were up by 2.9% in April as per the series with a base year of 2004-05.
Production trends for 100 new items, including ice cream, fruit juice and mobile phones, has been included for measuring the pace of industrial production in the new index series, which was recently approved by the government.
The new items in the IIP also include computer stationary, newspapers, chemicals like ammonia, ammonia sulphate, electrical products like solder power systems, gems and jewellery and molasses.
On the other hand, obsolete articles like typewriters, loud speakers and VCRs have been taken off to make the series representative of the present-day industrial production and demand scenario.
The base year for the new series is 2004-05 as against 1993-94 for the old one.
The new IIP series is expected to help policymakers and market participants forecast economic trends.
The Department of Industrial Promotion and Policy (DIPP) and Central Statistical Organisation (CSO) jointly worked on the new index.