17 INFECTED SECURITY STAFF GO MISSING FROM MARUTI PLANT Motown Buzz
India has initiated a probe into the alleged dumping of aluminium foil from China, Indonesia, Malaysia and Thailand following a complaint by local manufacturers. Hindalco Industries, Raviraj Foils and Jindal India have filed an application before the Directorate General of Trade Remedies, seeking initiation of anti-dumping investigation on imports of 'Aluminium foil 80 micron and below' from these countries.
New Delhi, June 23: Seventeen employees of a security agency employed at Maruti Suzuki India's (MSIL) Manesar (Haryana) plant have disappeared after testing positive for
Covid-19.
The employees, who belong to security agency SIS India, had tested positive for the infectious disease on June 17 and were supposed to be quarantined as per the law.
An FIR has now been lodged at Industrial Sector7, Manesar against the missing employees and their manager for the disappearing act.
When contacted, a MSIL spokesperson confirmed the incident."The people in question who tested positive are not Maruti Suzuki employees. They are outsourced/contractual vigilance staff deputed with the company," the spokesperson said.
Pune, June 23: Audi, the German luxury car maker, has opened bookings for its all-new Audi RS 7 Sportback, a high performance sports model, in the Indian market dominated by the compatriot rivals MercedesBenz and BMW.
The second-generation
Audi RS 7 Sportback, offering improved performance and efficiency, can be booked for a token amount of Rs 10 lakh. It is estimated to be priced over Rs 1.60 crore.
The deliveries will start in August.
Pune, June 23: Honda Cars on Tuesday announced commencing production of its new Honda City mid-size sedan at its Greater Noida factory. The fifth-generation Honda City is the most eagerly-awaited car which is slated to be launched in the country next month.
Indian IT stocks shrugged off President Trump’s visa restrictions, with the Nifty IT gained 1.5 per cent as analysts expect that top Indian tech firms are unlikely to be hit by the decision.
According to experts, top Indian companies have steadily reduced their the dependence on H-1B visas over the years as they hired workforce locally and that will limit the impact on their revenues.
Kotak Institutional Equities reckons that more than half of Infosys, Wipro and HCL Technologies’ workforce deployed in the US are local hires.
"While not completely immune to potential visa related tightening, Indian techs have been reducing their dependence on H-1B visas significantly by hiring more people locally. This transition has come with its own set of challenges such as limiting flexibility of moving resources offshore (when not on project) and hit on utilisation and thus, some adverse impact on margins," said analysts at Emkay Global.
The US is the biggest market for Indian tech firms and visa, travel restrictions can hamper smooth business flow.
The US President Donald Trump’s on Monday suspended H-1B visas along with other foreign work visas for the rest of the year, citing high unemployment rate in the country.
But the latest restrictions will have limited impact on large IT services vendors, as travel is restricted due to the covid-19 pandemic and most IT firms have moved to work from home mode and even project transitions are handled from work home and remote
Analysts expect that dollar revenues of most frontline IT companies are likely to fall in the current fiscal reflecting subdued demand and cuts in discretionary spends by clients.
In the recent interactions with analysts, IT majors like Infosys have stated that the incremental requirement for fresh human resource in the near-term is limited.
"(Infosys thinks) that the impact from a fulfillment perspective is likely to be lower, given FY21 is likely to see impact on demand, which reduces the need for new H-1B visas as new projects are delayed; and rising unemployment levels in the US allows opportunities to hire locally," Nomura said in a note.
Importantly, customers recalibrate their expenditure during economic downturns, outsourcing work to cheaper offshore locations, vendors, said analysts at Kotak. being from locations.
AUDI OPENS BOOKING FOR RS 7 SPORTBACK
HONDA STARTS MAKING NEW CITY IN G. NOIDA