Besides regular buyers, there is lot of interest among those in essential services, such as health, banking, and IT. The sales will be helped by social distancing becoming the new normal in both urban and rural regions as people will be averse to using public transport.
Hotels are using a combination of platforms to reach out to the guests. These include online travel agents among others. hotels in India are offering guests an option to pay now and stay later.
A clutch of automakers including Maruti Suzuki, Hero MotoCorp, Mercedes Benz India, Eicher Motors, TVS Motor, and Isuzu Motors India announced they had got the clearance from the governments of the states they operate in to resume operations.
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
Executive lounges with happy hours, complimentary hors d'oeuvres, and complimentary services have been the norm - but not anymore.
Given that people have been reluctant to order cooked food - which worsened due to a couple of cases of delivery personnel testing positive for COVID-19 - food delivery platforms have included grocery delivery as part of their services.
Corporate revenues will decline for a third consecutive quarter in March on a YoY basis - one of the worst shows by these companies in many years.
Indians face COVID-19 with record debt, stalled income.
What India's top restaurants are doing to satisfy your food cravings.
Profitability and cash reserves have halved since the global financial crisis.
Once the 21-day lockdown is lifted, which may happen in phases, those who have been contemplating purchasing a car may actually do it, said analysts. Thanks to social distancing norms and rising hygiene awareness, daily commuters may ditch public transport and shared mobility solutions like Ola and Uber. Many are likely to prefer the confines of a car over roughing it up in crowded public transport services such as a metro, local sub-urban trains and buses, they said.
The possibility of harassment by cops and fear of the unknown have forced a large number of truck drivers to abandon vehicles at the transport centres and flee home. Transport of goods remains badly hit as confusion remains among various stakeholders and road transport becomes the victim of disconnect between policy makers and local authorities.
The combined market capitalisation of the top 873 family-owned companies was down 26.3 per cent year-on-year (YoY) to Rs 61.8 trillion at the end of trading on Tuesday. It had grown 6 per cent in FY19 and nearly 20 per cent in FY18.
Some of the top indebted companies likely to face financial headwinds in the coming quarters include NTPC, PowerGrid, Tata Steel, Adani Power, JSW Steel, UPL, and Steel Authority of India. Together these 201 companies owed Rs 14.9 trillion to their lenders at the end of September 30, 2019, up 4.1 per cent year-on-year (YoY) during the first half of FY20.
From offering office premises that can be converted into isolation wards to earmarking funds to be used for procuring kits, ventilators as well as personal protective equipment for health care workers, India Inc has put a united front to combat the unprecedented crisis facing the country.
The donation by Tata Sons and Trusts is the biggest sum committed by a corporate and its philanthropic arm since the outbreak of Covid-19. Others, including Reliance Foundation, Mahindra Group, Bajaj Group, and ITC, are lending support too in the battle against the pandemic.
The business will also see a change of guard. Shailesh Chandra, president of EV and corporate strategy, will replace Mayank Pareek as president of PV business, including EV, with effect from April 1. Pareek will be superannuating from the company after a six-year stint at the end of February 2021. Chandra and Pareek will work on transition over the next few weeks.
In the manufacturing sector, output is expected to decline by about 70 per cent as only food-processing, and drugs and pharma industries are allowed to operate while other segments, such as engineering and metals, have shut operations.
Some 500,000 drivers and helpers have been left high and dry because of lockdown; many of these trucks are carrying essential goods.
Vodafone Idea's net worth (or shareholders' equity) was down 73 per cent year-on-year to around Rs 17,600 crore at the end of the December 2019 quarter after the company reported a net loss of around Rs 6,400 crore during the quarter. Cumulatively, the company has lost nearly Rs 45,000 crore in the last four quarters, eroding its net worth to its lowest level in three-year. Analysts said a such a low level of net worth, coupled with continuing losses in operations, ruled out the possibility of the company getting fresh loans from lenders to fund its adjusted gross revenue (AGR) dues of Rs 54,000 crore.
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