Maruti, Hyundai staff get Covid-19
Foreign portfolio investors have infused over Rs 9,000 crore into the equity markets in May amidst attractive valuations and a mega block deal involving HUL. Depositor-ies data shows FPIs invested a net Rs 9,089 crore in the equity market during May 1-22 but pulled out a net Rs 21,418 crore from the debt markets. Positive flow in May is due to the FPI participation in mega HUL block deal of Rs 25,000 crore, analysts said.
One worker at Maruti Suzuki, India's biggest car maker and three employees at the rival Korean car maker Hyundai, the second largest carmaker, have tested positive for Covid-19 virus, as automakers have swung into action to take extra precaution at their respective factories.
While an employee at Maruti Suzuki's plant in Manesar city tested positive for the dreaded virus on Friday, three workers at Hyundai's Irungattukottai-based factory, near Chennai, tested positive on Saturday.
"All employees who possibly could have come in contact with the victim have been advised to stay in home isolation," Maruti Susuki said in a statement.
The employee who tested positive on Friday was hospitalised in stable condition, it said.
The worker was last at work on May 15, before his residence became included in a containment zone.
Maruti is also investigating a second case of infection at the facility at Manesar. "There is no impact on the business operations," the company said.
"In the first week of our plant operations, three of our employees have shown mild symptoms of cough and cold and were immediately asked to meet medical expert team for further
evaluation. They subsequently tested positive for Covid-19 and immediate medical attention was provided to them," Hyundai said in a statement.
It said all three employees are recovering fast towards normalcy.
In addition, all the necessary measures are being taken for contact tracing, self-isolation and complete sanitation, the maker of Creta and Verna car models said.
New Delhi, May 24: Reliance Industries Ltd has launched an online grocery service, JioMart, the head of its grocery retail business said, in a move aimed at rivalling Amazon.com's local unit and Walmart Inc's Flipkart in the huge Indian market.
JioMart will deliver groceries in more than 200 towns across the country, Damodar Mall, chief executive of grocery retail at the conglomerate, said on Twitter late on Saturday.
Reliance has not announced JioMart's launch at a time it is selling $7 billion in new shares.
Reliance launched a small pilot of JioMart deliveries in select areas of Mumbai late last month, days after announcing that Facebook Inc would spend $5.7 billion for 9.99 per cent stake in the company's digital unit, Jio Platforms.
That partnership will help Reliance roll out service for India's grocers and small businesses by capitalising on India's 400 million-strong user base for Facebook's WhatsApp messaging service.
JioMart, the e-commerce venture of Reliance's retail arm, offers free grocery delivery from neighbourhood mom-and-pop stores. It will pose a formidable challenge to local rivals, which are also betting big on groceries for their growth.
A person familiar with the matter said the product catalogue on JioMart's website will be expanded after lockdown restrictions are eased.
Tata Motors owned Jaguar Land Rover (JLR) is said to be in talks with the UK government for an estimated one-billion pounds support package to tide through the coronavirus pandemic, according to British media reports. Britain's largest carmaker has submitted a large bespoke loan package request to ministers in recent weeks, 'Sky News' reports. The request is understood to be for temporary state funding, with the loan request lodged with the UK's Department for Business, Energy and Industrial Strategy (BEIS), which is headed by Indianorigin minister Alok Sharma.