India's Hind Rectifiers up on agreement with trade union

Hirect

26/12/2023 07:31

** Shares of power electronics equipment maker Hind
Rectifiers  HRCT.NS  rise as much as 5.3% to 581 rupees; last up
1.9%
    ** Co on Friday executed amicable agreement with registered
trade union to offer the option of voluntary retirement to the
unionized workers; union to withdraw all the matters filed
against co
    ** Stock up about 63% in Dec. quarter, on track for the best
quarter since Dec. 2014
    ** Stock has more than doubled so far this year, on track
for the best year since 2006
    ** HRCT above its 50-, 100-, and 200-day moving averages; on
track for a third consecutive session of gains
    ** More than 24,100 shares change hands, 0.8x the 30-day avg
    ** Stock has more than doubled so far this year


 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))