India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
The collection of mostly small and medium sized businesses is a hotchpotch of ventures and include design schools, schools, villas for hire in Goa and a country club in Gurgaon.
Now they are reinventing their strategies to stay afloat, as they see no sign of recovery for at least six months.
Several on-site labourers in the city want to take special trains being run to transport workers back home. The rising number of COVID-19 cases in the city has caused anxiety among them.
'The challenge will be making sure its efficacy is high.' 'If a vaccine is only 50 to 60 per cent efficient, it's a double-edged sword.'
Of the 171 Mumbai scribes tested on April 15, 53 tested positive on April 20. Of the 53 tested positive, 31 were treated and discharged on April 26. A large number of positive cases and later a quick recovery within less than a week have baffled many. Amritha Pillay reports.
RIL's debt stood at Rs 3.06 trillion as of December 2019, against Rs 2.87 trillion in March 2019.
The German luxury automaker has already seen its online traffic increase 10-fold this year. Though that has not always translated into sales, Mercedes-Benz says it is continuing to build on what it calls its "touch-free" experience to stay plugged into its consumer base. Under the used car business, more than 150 cars were sold online in January and February.
The newly-formed entity which will list on the NYSE as Eros STX Entertainment Corp, will remain listed on the New York Stock Exchange, with headquarters in both Mumbai, India, and Burbank, California, and has also got $125 million in fresh funding. The merger will not change the structure of Eros's Indian arm which is also listed on Indian stock exchanges.
Experts say the focus is on preserving liquidity as there is uncertainty over the duration and impact of the 21-day nationwide lockdown imposed to check the spread of COVID-19.
Shutting of stores had not stopped alcohol sales. On the contrary, it had increased black market operations and peddling of illicit hooch, which could cause death/serious injury.
According to sources, government officials have asked industry bodies and manufacturers to submit key concerns and requirements to begin manufacturing activity.
The test - called the Truenat Beta CoV test - effectively enables same-day testing, reporting, and patient isolation initiation.
The strident support from the hotels comes at a time when the industry is itself caught off guard with a sharp dip in both in-bound traffic from foreign markets, reduced domestic traction as well as a total shut-down of MICE business that has led the country top players by market cap to lose over half their value in just a little over a month.
Many firms have asked those joining on April 1 to delay their on-boarding by 2-3 months. The outlook for the airline, tourism, hotel, and media industries is bleak too.
Investors say they see large companies going through the grind, as their promoters struggle with liquidity because they are levered up at the holding company level and are starting to get margin calls thanks to the crashes in the stock market, and in the next six months, the targets that will come up for PE companies will make for a harvest season like never before.
'There will be two to three months of containment, and when there is normalcy, the risk is a relapse and a return to lockdowns.'
Retailers and multiplex operators want mall owners to either forgo rent for the period of the shutdown or lower rent in the event the mall is open but footfalls are low.
Any concerned citizen ought to start practicing hygiene by washing their hands properly and be aware of the brands that are certified.
Culinary Culture, which is spearheading the venture, will bring globally-ranked chefs to India as well as take local chefs abroad so they can work at world-ranked eateries.
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