Carvana says it was not provided a hearing or adequate chance to respond to allegations in suspension decision in Michigan.
NEW DELHI: Auto components major Bharat Forge, the flagship company of Kalyani Group, and other group firms on Tuesday pledged Rs 25 crore contribution to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES) to fight against the coronavirus pandemic.
The group is also looking at using its R&D facilities to meet requirements of critical medical equipment such as ventilators, respiratory equipment and other sanitation/hygiene goods.
The other group companies involved in the donation are Kalyani Steel, Saarloha Advanced Material Pvt Ltd, Automotive Axles and Hikal Ltd, the group said in a statement.
Bharat Forge Chairman Baba Kalyani said, “The group is committed to assist the central and state government and the local authorities in all possible ways to deal with the pandemic.”
He further said, “We are also using our group R&D facilities to look at ways of easing the shortage of critical medical equipments, including ventilators, respiratory equipment and other sanitation/hygiene equipment.”
Kalyani said as part of CSR activity, the group has started addressing food requirements of local community and will increase the efforts in the coming days.
SINGAPORE: Copper prices rose on Tuesday, with Shanghai copper touching a near two-week high, as top consumer China surprisingly reported an expansion in factory activities this month.
The Purchasing Managers’ Index for China rose to 52 in March from the collapse to a record low of 35.7 in February, official data showed, much higher than a Reuters poll’ forecast of 45.0. The most-traded copper contract on the Shanghai Futures Exchange (ShFE) rose as much as 2.2% to 39,600 yuan ($5,578.56) a tonne, its highest since March 18.
Three-month copper on the London Metal Exchange (LME) was up 1.5% to $4,838.50 a tonne, as of 0124 GMT, reversing a streak of three straight losses. However, the longer-term outlook for copper, often used as a gauge of the global economic health, is still seen under pressure due to prolonged worldwide shutdowns to contain the coronavirus pandemic.
LME copper, despite the rally on Tuesday, was down 14.2% on a monthly basis, on track for its worst monthly decline since September 2011.
As per the release, out of the six crores, Rs 5 Crore is donated to the Andhra Pradesh CM relief fund and Rs 1 Crore to Telangana CM relief fund. This contribution by the organization includes the one-day salary contribution by employees of Amara Raja Group, the company added.
Additionally, the Tirupati based company said, Jayadev Galla, Vice Chairman of Amara Raja Group, in his capacity as the Member of Parliament, Guntur has announced a sum of Rs 2.5 Crore from his MPLADS fund for the prevention of COVID-19 in his parliamentary constituency.
Commenting on the recent developments, Ramachandra N Galla, Chairman of Amara Raja Group said, “Amara Raja group stands in solidarity with the government in its efforts to fight the pandemic of Covid -19, with the healthcare workers tirelessly standing on the frontline fighting day and night to overcome the Coronavirus and with the people of the country. Alongside our social endeavours, internally we are geared up to support our employees, customers, community and all our stakeholders.”
Further, Rajanna Trust, the CSR arm of Amara Raja Group informed that they will continue to support by providing medical essentials in government hospitals in Chittoor district and Guntur district. The company said it has made a donation of Rs 5 Lakh worth masks, gloves and sanitizers, informed the company.