Monadelphous facing 10% revenue hit

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Engineering contractor Monadelphous has disclosed multiple problems across its operations, with supply chain issues causing delays on large projects, and contract disputes and low profits forcing a restructure of its water infrastructure business.…

Train from Aluva to Bhubaneswar to take first set of 1,200 migrants home

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The first train carrying some 1,200 from Kerala to Bhubaneswar, in Odisha, has been scheduled to start from Aluva near Ernakulam on Friday evening. Several hundreds of migrants from Perumbavur, which is the hub of such workers in the State, have lined up in queues without following the social distancing norms to register for the journey.


The State government said that the relevant authorities were prepared to organise such a trip and had swung into action after receiving the order from the Ministry of Home Affairs. There are 360,000 guest workers staying in 20,826 camps at present. Most want to go back to their hometowns. Most of them are from Bengal, Assam, Odisha, Bihar and UP.


State Minister for Revenue and Housing, E Chandrasekharan, told Business Standard that as per the Central government’s order, around 1,200 guest workers will be sent to Odisha by train on Friday evening itself.


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The state government has earlier urged the Centre to allow special non-stop trains to various States for who want to head back to their hometown

After a washout month, automobile industry seeks resumption of business

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Indian auto companies sold no cars in the month of April – a first in history as a nationwide kept factories and showrooms shut preventing any sales.


Auto sales are a primary barometer of the country’s economic health and experts say that prolonged closure will threaten jobs and expand the magnitude of effort required to restart the economic engine, post the pandemic health crisis. The sector contributes 7 per cent of India’s total Gross Domestic Product (GDP).


The worsening problem forced three industry bodies of carmakers, (SIAM), (FADA) and auto component makers (ACMA) to make a joint representation to resume operations in all zones irrespective of red, orange and green. Their contention is that it is impossible to start manufacturing with partial reopening.


ALSO READ: Manufacturing to malls: What’s open, what’s not as India extends lockdown


“Automotive value chain is highly complex and integrated. A vehicle manufacturer cannot commence production if any of its component supplier is shut. Further if dealerships are closed, production in isolation wull only mean increased inventory and blocking working capital,” the joint letter to the secretary of home ministry said.


Companies,

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