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Well-positioned to handle challenges of another Covid wave: Dabur India

Home-grown FMCG major Dabur India is looking at the future with "great optimism" but challenges from the pandemic are far from over, its Vice Chairman Mohit Burman said, adding the company is better prepared to deal with any eventuality. Applying learnings from last year to streamlining the supply chain to ensure minimal disruption in the availability of products, Dabur is "well-positioned" to meet the challenges and generate sustainable long-term growth, he added.

Tata Steel announces Rs 270.28 crore annual bonus for 2020-21

Private steel major Tata Steel will pay a total of Rs 270.28 crore as annual bonus for the accounting year 2020-2021 to its eligible employees of all applicable division /units of the company, a release said. A Memorandum of Settlement was signed on Wednesday between Tata Steel and the Tata Workers' Union, for payment of annual bonus for the accounting year 2020-2021, the release issued by the company said. The total payout for eligible employees of all applicable divisions/ units of the company will be Rs 270.28 crore. Out of this, various divisions at Jamshedpur including Tubes, an amount of Rs 158.31 crore will be given. The minimum and maximum annual bonus payable will be Rs 34,920 and Rs 3,59,029 respectively.

Difficult for CIL to give 50% wage hike to workers, CMD tells union

Coal India Chairman Pramod Agrawal has said it will be difficult for the PSU to give 50 per cent wage hike to workers, as demanded by the unions, due to financial constraints facing the company, according to a union leader. Nathulal Pandey, president of the Hind Mazdoor Sabha-affiliated Hind Khadan Mazdoor Federation, said he had a meeting with the Coal India (CIL) chairman on Wednesday during which the issue of workers' wages came up.

Bharti Airtel moves Supreme Court with review petition in AGR case

Bharti Airtel is the second telco to move the Supreme Court with a review petition on the adjusted gross revenue (AGR) matter. The company has sought correction of arithmetical errors in calculations linked to AGR. Earlier this month, debt-laden Vodafone Idea had moved the top court with a similar plea seeking a review of SC’s July 23 order. The court had dismissed the petitions of telecom firms in July. This comes at a time when the Centre is working on a relief package for the telecom sector. The worst hit is Vodafone Idea, which is facing an accumulated debt of Rs 1.8 trillion.

Govt will support establishing semiconductor industry in India: Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said the government will support the setting up of the semiconductor industry in India, which will also help reduce foreign exchange outflows. “There are two sectors that we as a nation need to focus on. One is how can we make Indian shipping expand its scope and the business potential of Indian ships, vessels and increase engagement with the shipping industry. Second is the semiconductor industry, as there is a worldwide shortage. “The government is committed to supporting both these sectors,” Goyal said. The statement comes days after Tata Group announced its intention to enter the semiconductor business, at a time when there is a significant global shortage of the product. The minister also hoped that large companies will take interest in the shipping industry, which will give the right impetus to the crucial sector for the country's foreign trade.

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