NMDC shares in focus as strike ends, normal operations resume
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NMDC shares will be in focus on Monday after the state-owned miner’s strike ended with trade unions withdrawing their protest over wage settlement. The company confirmed that employees resumed duties from the first shift on March 20, restoring normal operations across all projects. The strike, which began on March 6, had significantly impacted production at India’s largest iron ore producer. In a statement, NMDC said the Federation of Unions instructed its members to return to work and support optimal performance. “NMDC acknowledges the importance of its workforce, which has been its backbone. This decision to resume work will strengthen trust and help the company meet its production targets,” the company stated. Earlier, NMDC had termed the strike illegal, citing a slowdown in work despite ongoing wage revision negotiations. Live Events The last wage revision took place in 2017, with the next one due in 2022. Although an agreement was re...