Electric motors maker Kirloskar Electric Company Ltd has declared lock out at its manufacturing operations at the company's unit 16, situated at Village Khondhapuri, Nagar Road, Shirur, Pune, effective from September 03, 2015.
In a filing to the Bombay Stock Exchange, Kirloskar Electric Company informed, "The company has declared lock out at its manufacturing operations at the company's unit 16, situated at GAT No 309/1, 319/2, 317, 318, Village Khondhapuri, Nagar Road, Shirur, Pune - 412 209 with effect from September 03, 2015."
However, the management assured that it is hopeful to address this situation at the earliest.
The company manufactures and sells electric motors, alternators, generators, transformers, switchgears and DG sets in India and internationally. It operates through three segments, Rotating Machines Group, Power Generation and Distribution Group and Others.
Meanwhile, shares of the company were trading at Rs 30.05 apiece, up 1.52 per cent, from previous close on BSE at 12:57 hours.