What is the effect of lock down on group of companies
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Answer:
they have to now suffer economically
Answer:
hey mate here is your answer
The lockdown imposed by several state governments and union territories has started to impact corporate India. Several companies on Tuesday announced a temporary scale down or closure of operations and even manufacturing facilities across the country. As a result, an increasing number of manufacturing facilities in India have come or will come to a grinding halt. Those temporarily shut include factories, offices, warehouses and retail stores. Till about 10 am on Tuesday, confirmed positive Covid-19 cases had risen to 482 in India, with 10 deaths reported so far. As a precautionary measure the Centre and state governments had announced lockdowns and curfews in several districts.
Aditya Birla Group companies have reported that temporary measures are being undertaken in line with government orders of various states. Consequently, Ultratech Cement has shut facilities in several locations, while factory operations of Aditya Birla Fashion and Retail (ABFRL) in Karnataka, Tamil Nadu and Odisha have been stopped till March 31. The company has also closed down all its retail stores till the month-end. ABFRL has stated that the company’s business has been “significantly affected over the last few weeks and will continue to be materially impacted due to the current crisis”. Grasim also reported about temporary shutdown of its operations at various locations as the situation is dynamic and depends on further government directions. The company said it might have to shut operations in its other locations too.
Some consumer sector companies have also stopped operations. Future Supply Chain has closed some of its warehouse facilities temporarily, barring food distribution centres across the nation till March 31. Shoppers Stop has closed all its retail stores till the month end. Trent has also followed suit, closing its standalone stores as well as those operating in malls. Colgate Palmolive on Tuesday said operations have been disrupted as its head office, plants and branch offices were shut following applicable directives.
Explanation:
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