The Maruti Ltd, manufacturers of Maruti car, has withdrawn the price cut it announced last June to boost its sagging business. The hike ranges from Rs 2,059 to Rs 22,239. The increase is under Rs 5,000 except for Zen Euro-2 and Baleno Sedan. The employees of the Maruti Udyog Ltd, manufacturers of Maruti cars, are on agitation for two months demanding revision of the incentive scheme, pension scheme and regularisation of contract labour. Four workers have been dismissed and nine suspended.
Work is almost at standstill.
The leaders were arrested and released on bail. The employees have refused to sign a good conduct undertaking and went on a day's strike. Software majors Infosys Technologies and Satyam Computers recorded a growth of 113 per cent and 80.24 per cent, respectively, in their turnover in the quarter ending Sept, 2000. Infosys net profit jumped by 134.38 per cent to Rs 154.01 cr compared to last year's figures. A 50 per cent dividend has been declared.