According to the new Industrial Code 2020, Private companies in India can hire as many workers as they like using the the fixed term contract route without going through the contractor . Due to this new reform it helps industries hire seasonal workers for a short term period and allow these industries to save the cost and effort by hiring people without an intermediary.
2) UK Based Kalrock Capital and UAE entrepreneur Murari Lal Jalan have been chosen as the new owners of the the Jet Airways and the formal takeover process will begin and conglomerate plans to operate Jet as the Indian carrier. But Karlock and Jalan have not made any comment on the on-going resolution process.
3) Amazon sends a legal notice to the promoters of Future Group in breach of the contract over the deal with Reliance Industries. In August 2020 Reliance retail Venture acquired the retail , wholesale ,logistics and warehousing business of Future Group but last year 2019 Amazon brought a 49% stake in the future Coupons and according to this deal Amazon said Future Group did not meet the criteria of its deal with RIL.
4) During the Lockdown period Wipro has made good acquisition of companies in European & African regions and due to this they are estimating good profit figures in coming period. Due to this Wipro Board considers the plan to buy back the stock.
5) Indian Equity Market climbs a new high after April 2020. The reason behind the sixth straight day high is because US Congress should pass money for airlines, small businesses and stimulus packages for individuals.
6) 23 Private, Indian Companies start bidding to run a passenger train on 109 important routes in India. The Railways also clarified that complete freedom will be given to the private partner in procurement of trains, which can either be purchased or taken on lease. Railway has specified the money that companies have to pay it as haulage charges.
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