Announced Mon, 22 Jun · 17:36 IST
High Court orders Timken India to pay wages in 1995 termination case
TIMKEN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-0.9%1-day move
₹3783.70
prior close
₹3789.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.8+0.6+0.4+0.6-0.9-3.3-7.6-7.3-8.0-10.2-15.8-18.1——
Up moveDown movePending
AI summary
Timken India (through amalgamated Antifriction Bearings Corp) lost a long-running employment dispute. Gujarat High Court upheld a 2005 Labour Court ruling that the 1995 termination of an Accounts Clerk was illegal. Court ordered regular wages from January 2005 till superannuation, minus 17B wages already paid. Company plans to appeal. Financial impact is being assessed.
Likely market impact
Negative - potential payout liability from old labor case; company will appeal. Financial impact not yet quantified.