The union had traditionally picked one company as a strike target and reached a contract agreement to set a pattern for others. However, this year they adopted a new strategy by targeting a limited number of facilities in all three automakers. As a result, the United Autoworkers strikes have now expanded to Chicago and Lansing, with an additional 7,000 workers joining the picket line.
Shares of Ircon International surged over 4% after the company executed a contract agreement with the Sri Lanka Railways. The contract involves the procurement of design, installation, testing, commissioning, and certifying of the signalling and telecommunication system. Additionally, the firm reported a 29.6% YoY rise in its consolidated net profit for Q1 FY24. The stock has delivered multibagger returns to its investors, having risen over 170% in the last six months and over 250% in the past year. Read more for further details.
