The recent news is that the company`s plant at Kuthurad, near Pune has run into rough weather due to agitation and strike by the plant`s workers, who are demanding more wages, etc. which the company has not paid. As a result, the production will be affected. This agitation may be likely to spread to new locations as well. The overall scenario at present, is not good for the company. The investor should, therefore, take a safer and accident free path, if you do not want to lose yr hard-earned money. Today, the stock appreciated, but after this news, there may be a sharp correction tomorrow. Hence, sell it at the early hours immediately and stay off from this stock, for the time being. Be careful. Don`t put yr money in risky stocks. That is wisdom.
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Thanks for timely advice. This stock had now reached almost its peak and at this crucial time, this bad news has come. It is known to all that after scaling the peak, the downtrend continues. It is certain. Meanwhile, this bad news will create this downward fall STEEP. Hence, it is better to SELL or SHORTSELL this stock and stay away for some time. A correction of Rs 50, which is possible, means a hefty gain of Rs 47,500 (lot size 950). Even a fall of Rs 25 only will fetch you a handsome Rs 23750. Guru
Hi,
The stand by the management shows that they have a backbone. It is a good sign. Unions try to get wages for their members which are above the market rates in general. With multinational companies, unions normally succeed. The present time is a good time for such confrontations. There is not much pressure on the production facilities. This may lead to permanent job losses and more outsourcing of work to the number of small scale companies. Small scale companies are generally more efficient.
In the long term, this may be good for Cummins bottom line.
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