Domestic Airlines: Salary cuts

Domestic Airlines: Salary cuts

Domestic airlines such as Go Air and SpiceJet have been hit hard by the lockdown. These companies will reduce working hours as well as cut staff salaries. The airlines of these companies have been closed since March 8. Even after the lockdown is withdrawn, the airlines will resume operations with limited trips. SpiceJet has cut the salaries of its cabin crew staff by 30 per cent. Now these companies are considering further cuts in staff salaries as the lockdown grows.

Axis Bank's venture

Private sector bank Axis has said it will take a 5 per cent stake in Max Life Insurance to increase its stake to 20 per cent. The share price will be around Rs 15 crore. Axis Bank offers Max Life's 3 million horsepower for Rs. Will buy at the price of 4.21. The board meeting of both the companies was held on April 4. Earlier on February 20, the two companies had decided to forge a strategic partnership.

Massive price of food stock

As the inconvenience of storage of crude oil eased, the prices of large tankers carrying crude oil skyrocketed. These tankers are kept on shore. The tanker, which was priced at 5,000 in February, has risen to ૧ 150,000 by the end of April. People associated with the market say it could reach two million dollars in the coming days. Saudi Arabia tops the list of very large crude carriers. Some countries are increasing their oil storage capacity.

Tamil Nadu: Industries will continue

Preparations are underway to start industries in the green zone in Tamil Nadu. Chief Minister K. Pasaniswamy has asked the district collectors to issue necessary orders in this regard. Greenzone is not infected with the corona virus. The decision was taken by the chief minister after a video conference with officials. The Chief Minister said that the Center has given green signal for cement, sugar, medical equipment as well as steel mills. Industries will start in the green zone of Tamil Nadu and workers will start getting employment.

Flipkart and Tata Consumers

E-commerce firm Flipkart has teamed up with Tata Consumers to deliver consumer goods as well as food and beverage products. Products like Tata Tea and Coffee will be sold on Flipkart. Consumers are putting their trust in both these companies. The handshake between the two companies in the lockdown during the Corona virus will be beneficial to consumers. The network between the two is running in Bengaluru and will now be extended to Mumbai as well as Delhi.

GlaxoSmithKline plans to sell holdings in Hindustan Unilever

GlaxoSmithKline plaque. Unilever's Indian unit Hindustan Unilever is reportedly planning to sell some of its 2.3 billion holdings.

At present, Glaxo holds 2.7% stake in Hindustan Unilever Limited. A number of block deals are likely to see the company start selling soon. The company is in talks with advisers for the deals, sources said. Hindustan Unilever, owned by drug giant Glaxo, is valued at ૭ 4.5 billion. Some of the holdings are likely to sell holding or full-holding Glaxo. In December 2016, Unilever said it had invested ૩ 2.5 billion in cash and Glaxo's health food drinks brands in India, Bangladesh and other markets in Hindustan Unilever. Did.

As part of the deal, Glaxo acquired a 7.5 per cent stake in the Indian unit. Meanwhile no final decision has yet been made on the time frame for the deal. Depending on the market situation and the demand of investors, the decision to sell Glaxo may be postponed, experts say.