“50% of those surveyed said they were not able to buy at all due to no availability while 26% said they had to buy an unknown brand as reputed brands were out of stock. 8% said they were able to buy reputed sanitizers at a general retail store and 15% said they were able to buy reputed brand sanitizers at a chemist,” LocalCircle survey said.
Most companies’ valuations and cash flows are impacted by the pandemic and they will face impairment. The government is considering the proposal and has reached out to several industry experts in the last few days to seek their opinion on the impact of such a step, people with direct knowledge of the matter said.
Sitharaman recently said that if the disruption caused by coronavirus extends then it would suspend the use of the corporate insolvency resolution process for sometime. The finance minister had also increased the minimum amount of the default required to initiate the insolvency resolution and liquidation processes against companies from Rs 1 lakh to Rs 1 crore.
Industry experts point out that for all the companies last one month has hugely impacted cash flows and that has resulted in their mark to market. Extension of the financial year may spread the bad period over more months and could help companies recover a bit say experts.
Quite a few companies are eyeing claims under what is known as the “loss of profit” clause in their insurance contracts. This typically covers losses due to factory shutdowns when unforeseen circumstances such as fire or accidents occur.
PwC India is deferring promotions, increments and bonuses for all its employees in India due to Covid impact.
Due to increased hacker activity, phishing attempts have gone up by three times, and the work from home infrastructure is also under attack.
Microsoft, P&G and Deloitte are among companies that have sought professional assistance to help employees tackle the turmoil due to social distancing, now extended for three weeks, and working remotely.
Covid-19: Companies rope in psychiatrists, experts for emotional counselling of work from home employees
Microsoft, P&G and Deloitte are among companies that have sought professional assistance to help employees tackle the turmoil due to social distancing, now extended for three weeks after the prime minister’s announcement on Tuesday, and working remotely.
In the last few weeks several government departments including the Legal Metrology department has received several complaints about a sudden surge in prices on certain products, said people in the know. According to them, the government has begun investigations after prices of certain products jumped from 10% to 100% or even more.
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