Safety of the employees (Image: Pixabay) New Delhi : Some of the major companies in India are suspending their work by few days to offer unusual assistance to their employees during a devastating second wave, which has extremely impacted the nation.
According to a report by Mint, Feng Tay will suspend its Indian factories for 10 working days to keep its employees safe, the Nike-supplier told the Taiwan stock exchange Wednesday.
Companies like Honda Motor Co. and Suzuki Motor Corp. have also announced a similar decision to ensure safety of their employees.
Developer Godrej Properties Ltd. extended a long weekend by three days to offer its employees time “to heal. The Lodha Group one of India’s biggest property companies will pay 12 months salary to the family of any of its associates who dies of Covid while in the service of the firm. Borosil Ltd. will pay two years worth of pay and support the education of the deceased’s children until they graduate.
Businesses Offer Employees Time âto Healâ as Virus Ravages India
May 13 2021, 8:51 AM
May 12 2021, 7:11 AM
May 13 2021, 8:51 AM
(Bloomberg) Some companies in India are temporarily halting business or offering unusual assistance to employees as a devastating wave of the coronavirus sickens and kills hundreds of thousands.
(Bloomberg) Some companies in India are temporarily halting business or offering unusual assistance to employees as a devastating wave of the coronavirus sickens and kills hundreds of thousands.
Feng Tay will suspend its Indian factories for 10 working days to keep its employees safe, the Nike-supplier told the Taiwan stock exchange Wednesday. It follows firms including Honda Motor Co. and Suzuki Motor Corp. that have announced similar decisions in recent days.
Flipkart on the hunt
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Flipkart, which plans to go public towards the end of the fiscal, is in talks to raise at least $1 billion and up to $2 billion from a group of investors.
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Flipkart in early talks to raise $1 billion
Flipkart is in preliminary discussions with a clutch of new investors to try and raise $1 billion, several sources have told us. The news comes even as the Walmart Inc.-owned company weighs an initial public offering (IPO) in the US around the fourth quarter of this year.
Oil and Gas stocks were trading with gains, with the S&P BSE Oil&Gas index increasing 168.65 points or 1.08% at 15797.07 at 09:49 IST. Among the components of the S&P BSE Oil&Gas index, Indian Oil Corporation Ltd (up 3.23%), Hindustan Petroleum Corporation Ltd (up 2.8%),GAIL (India) Ltd (up 2.07%),Bharat Petroleum Corporation Ltd (up 1.66%),Gujarat State Petronet Ltd (up 1.29%), were the top gainers. Among the other gainers were Indraprastha Gas Ltd (up 0.91%), Castrol India Ltd (up 0.56%), Petronet LNG Ltd (up 0.48%), and Reliance Industries Ltd (up 0.36%). On the other hand, Oil & Natural Gas Corpn Ltd (down 0.53%), turned lower.
At 09:49 IST, the S&P BSE Sensex was down 373.95 or 0.76% at 49128.46.
Investors are bracing for market fallout as state after state locks itself down in India to contain the spread of the coronavirus as infections and deaths surge. More than two thirds of states are shut if assessed by their contribution to national output, analysts at Jefferies calculated last week. Tamil Nadu, which houses foreign manufacturers including BMW and Dell, will also close from Monday, while Delhi extended its lockdown for another week. The measures come as pressure builds on Prime Minister Narendra Modi to impose strict nationwide curbs as he did last year. All of that is forcing a reassessment among investors who had hoped that less-severe curbs would soften the blow to economic growth. Earlier in May, India’s central bank assured markets that it expects the dent in aggregate demand to be moderate in comparison with a year ago, with “containment measures being localized and targeted.”