Varroc Engineering | Varroc Engineering approved that the proposed fund raise by way of a qualified institutions placement of equity shares. The QIP issue opened on March 22. The floor price for the issue has been fixed at Rs 395.41 per equity share. The company approved the preliminary placement document dated March 22 together with the application form. The news came in after market hours on March 22. The stock closed 5.54 percent higher at Rs 406.95 on March 22. It hit a 52-week high of Rs 499.95 on February 9, 2021, and a low of Rs 119.20 on April 3, 2020. The market-cap of the company stands at Rs 5,486.16 crore. In terms of technicals, the current rating by Moneycontrol on the stock is Neutral. The important support levels for the stock are placed at Rs 374.13-363.17, while resistance is placed at Rs 408.97-419.93, data from Moneycontrol.com showed.
Auto and industrial components maker SKF India on Wednesday said it will cover the vaccination cost of all its employees and their immediate family members.
SKF India, which is the wholly-owned subsidiary of Swedish bearings maker SKF, has about 4,000 employees working across different locations in the country, as per a company statement.
“In its commitment to ensure employee health and well-being, SKF India will cover COVID-19 vaccination cost for all employees and their immediate family members as per the central government guidelines,” it said.
Through this drive SKF intends to extend support for employees and their families in obtaining vaccines through a seamless process, it stated.
“We believe that covering the cost of COVID-19 vaccination for our employees and their immediate family members expresses our gratitude for their persistent support and absolute trust in us. We encourage vaccination for our people who are eligible and choose to receive the vaccine to protect themselves and their families and help our nation fight COVID-19,” said Gautam Kumar, chief human resources officer and director, HR, SKF India.
Earlier this month, the Indian arm of the German automotive supplier Schaeffler too had announced that it will bear vaccination cost of its nearly 2,800 employees in the country, in a phased manner with 635 employees with co-morbidities and falling in the age group of 45-59 years to be covered first.
After allowing senior citizens and people above 45 years of age with co-morbidities conditions to receive vaccination from March 1, the Government on Tuesday decided to open the vaccination drive for every one above the age of 45 years, starting from April 1.
SKF said it has urged its employees to register themselves and their immediate family members including spouse, children, and parents at the suitable government-approved COVID-19 vaccination centres to follow the process of receiving the vaccination.
The company will reimburse the cost associated in the two mandatory vaccine shots included in the immunization programme, it added.