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<ul class="summary-list"><li>The US's latest security assistance package for Ukraine includes 100 <keyword id="13432514" type="UNKNOWN" weightage="60" keywordseo="switchblade" source="Orion">Switchblade</keyword> drones.</li><li><keyword id="13432515" type="UNKNOWN" weightage="60" keywordseo="loitering-munitions" source="Orion">Loitering munitions</keyword> like Switchblade are a "powerful" tool, according to the top US Marine general.</li></ul>The latest package of US security assistance to Ukraine includes drones that are a "pretty powerful" tool for troops on the ground, according to the <keyword id="11940053" type="UNKNOWN" weightage="60" keywordseo="us-marine-corps" source="Orion">US Marine Corps</keyword>' top general. Alongside <a href="https://www.businessinsider.com/javelins-stingers-nlaws-help-ukraine-destroy-russian-tanks-aircraft-2022-3" target="_blank" rel="noopener">Stingers and Javelins and other weapons</a>, the US is sending Ukraine 100 <a href="https://www.businessinsider.com/us-sends-ukraine-loitering-drones-for-kamikaze-attacks-on-russia-2022-3">Switchblade tactical drones</a> — a kind of loitering munition, which are also called "<keyword id="13432516" type="UNKNOWN" weightage="60" keywordseo="kamikaze" source="Orion">kamikaze</keyword> drones," designed to find and destroy targets on one-way missions.These drones give infantrymen "the power of an air wing in your hands," Marine Corps Commandant Gen. <keyword id="13458287" type="UNKNOWN" weightage="60" keywordseo="david-berger" source="Orion">David Berger</keyword> said at the McAleese and Associates defense conference in Washington, DC, on March 9."This is the first time the infantry on the ground can strike targets beyond the range of their organic mortars [and] artillery with precision" Berger said of loitering munitions.<div type="image" title="A Marine launches a Switchblade drone" height="1334" width="2000" msid="90422490" hostid="261"></div>The Switchblade 300 — which carries a small munition designed to take out infantry and artillery — has been used by US Special Operations Command for about a decade. In September, the command awarded the firm AeroVironment a $20 million contract for the Switchblade 600, which carries a larger explosive charge designed to take out tanks and armored targets.Marines have also used the Switchblade <a href="https://web.archive.org/web/20140425025856/http://www.marinecorpstimes.com/article/20120516/NEWS/205160317/Marine-Corps-pursues-8216-kamikaze-drone" target="_blank" rel="noopener">for about a decade</a>, adopting it so small units could take out soft targets without calling in airstrikes. Berger has said loitering munitions make the Corps "lighter and faster" and that they are a top priority as the service <a href="https://www.businessinsider.com/marine-corps-force-redesign-means-taking-tanks-from-norway-caves-2020-8" target="_blank" rel="noopener">tries to build a force</a> better suited for a potential <a href="https://www.defensenews.com/naval/2020/12/09/the-us-marine-corps-wants-grunts-packing-deadly-swarming-drones/">conflict with China</a>.In 2021, the Corps listed loitering drones like the Switchblade as its <a href="https://breakingdefense.com/2021/04/top-priority-marines-want-new-loitering-drones/#:~:text=In%20November%2C%20the%20Corps%20asked,%E2%80%9Cswarming%E2%80%9D%20with%20other%20drones.">number-one acquisition priority</a>. In Berger's Force Design 2030 plan, also released last year, the service outlined the two kinds of drones it wants: one capable of loitering for up to 90 minutes and of "swarming" with other drones and another drone that can be launched from the Corps' Light Armored Reconnaissance vehicle or a similar vehicle.The Corps has already awarded a contract for the vehicle-mounted version as part of its Organic Precision Fires-Mounted program. The Organic Precision Fires-Infantry Light program would give infantry a similar capability."We have two different programs so far that we're experimenting with. We'll see how they go, both individual and mounted. These things so far are powerful," Berger said at the conference.

The 'kamikaze drone' the US is sending Ukraine is a 'pretty powerful' tool for troops, top Marine general says

<ul><li>Shares of most paint makers have fallen in the last five days after one of the leading players, Asian Paints, reported a slowdown in profit on concerns over rising raw material prices.</li><li>Moreover, the market leader expects the increase in raw material prices to persist for some more time, which will eventually impact profits.</li><li>Raw material prices have been pushed up due to the high crude oil prices</li></ul>More than the excitement for anticipated demand during Diwali, an Indian festival, paint manufacturers are worried about the rising raw material prices hitting their profitability. The concern over rising costs elevated after one of the leading players, Asian Paints, reported a fall in profit due to high raw material prices, which is further expected to remain high for some time. Raw material prices have been pushed up due to the high crude oil prices. Note that half of the material used by paint companies are crude oil derivatives. Asian Paints reported a decline in net profit to ₹595 crore in September, below analysts’ expectations. "Steep inflation seen in raw material prices, since the beginning of this calendar year, has been phenomenal and has impacted gross margins across all businesses in the quarter," said Amit Syngle, managing director and chief executive of Asian Paints in a statement to an exchange on October 21. The commentary on rising cost inflation hit shares of other paint makers fearing slowdown in profitability in the near term. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Paint manufacturers </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Returns in 5 days </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Berger Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-14% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-10% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kansai Nerolac </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-10% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Pidilite Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-9% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shalimar Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Indigo Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-3% </td></tr></tbody><tbody></tbody></table> “Higher input prices will keep margins of the paint companies in the near term,” said a report by broking house Sharekhan. Adding to it, global chip shortage could impact supply of tinting machines which are key for paint dealers. The chip shortage could <a href="https://www.livemint.com/market/mark-to-market/paint-manufacturers-may-face-disruption-from-chip-shortage-11632765366605.html">reportedly</a> impact the supply of tinting machines and the expansion plans of paint companies. These machines help shops create different shades of paints within the store, in line with the requirement of customers. Dealers who use tinting machines do not have to hold large amounts of shades in stock. “We expect delays in (the supply of) tinting machines to remain for a few quarters for most paint companies. We expect less impact on top two companies, Asian Paints and Berger Paints, as they already have a high tinting machine penetration compared to smaller peers," said analysts at Edelweiss Securities, <a href="https://www.livemint.com/market/mark-to-market/paint-manufacturers-may-face-disruption-from-chip-shortage-11632765366605.html">reportedly</a>. With steep inflation in input costs weighing on profitability, paint companies may announce further price hikes and pass on the burden to consumers. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-lost-subscribers-for-the-first-time-in-10-quarters-but-theres-good-news-for-mukesh-ambani-in-this-too/articleshow/87251614.cms">Reliance Jio lost subscribers for the first time in 10 quarters but there's good news for Mukesh Ambani in this too</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/bad-loans-at-icici-bank-have-never-been-this-low-in-the-last-seven-years/articleshow/87250046.cms">Bad loans at ICICI Bank have never been this low in the last seven years</a>

Paint makers stress over high raw material costs and fewer tinting machines even as festive demand picks up

<ul class="summary-list"><li>The Marine Corps has fired a two-star general from his job as inspector general.</li><li>The firing, which likely eliminates any chance at promotion, was in response to last summer's deadly AAV accident.</li><li>The accident killed eight Marines and a Navy sailor, making it the deadliest AAV accident in history.</li></ul>The <keyword id="192842" type="ORGANIZATION" weightage="60" keywordseo="US-Marine-Corps">US Marine Corps</keyword> has fired a two-star general, likely eliminating any chance of ever receiving another promotion, after he was found responsible for some of the failures leading up to a deadly assault amphibious vehicle accident that killed nine people.Maj. Gen. Robert Castellvi, formerly the commanding general of the 1st Marine Division, was suspended last month from his job as inspector general of the Marine Corps.<div type="image" title="A 2013 photo of Robert Castellvi, a Marine Corps general" height="1250" width="1000" msid="83384670" hostid="261"></div>"He will not return to that position," Marine Corps spokesman Capt. Andrew Wood said in a statement Wednesday, adding that Marine Corps commandant Gen. <keyword id="1633115" type="PERSON" weightage="60" keywordseo="David-Berger">David Berger</keyword> "took adverse administration action against him."Wood revealed that the commandant "personally and formally counseled him for his failure to properly train the Marines and Sailors for whom he was entrusted and for the inadequate evaluation of the AAV Platoon before it was attached to the 15th MEU."Last July, <a href="https://www.businessinsider.com/what-happened-to-marine-corps-aav-that-sank-killed-nine-2021-3">an AAV assigned to Bravo Company, Battalion Landing Team 1st Battalion, 4th Marines, part of the 15th Marine Expeditionary Unit, sank off the coast of California</a> as it returned to the amphibious transport dock USS Somerset from San Clemente Island.The mishap vehicle was carrying three AAV crewmembers, 12 Marines, and one Navy corpsman. Eight embarked Marines and the Navy sailor died, making this incident the deadliest AAV training accident in the vehicle's history.A command investigation indicated that Castellvi bore some responsibility for the horrific accident because he failed to complete a readiness evaluation that might have identified problems before disaster struck.The head of Marine Corps Forces Pacific did not take any disciplinary action against Castellvi though, raising questions about the Corps' commitment to accountability.In the aftermath of the first investigation, the Marine Corps launched another investigation to uncover more details about the failures that occurred in the lead up to the accident. The results of that investigation have been delivered to the commandant."We will never hesitate ... to relieve a commander if we've lost trust and confidence, but I needed to understand in greater depth about how that MEU was composited, which I now know," Berger told reporters recently.Responding to Insider's questions about failures to ensure troops had the necessary training, specifically the knowledge of how to escape a sinking amtrac, Berger said that "there are no excuses for not getting the whole unit through the required training."The disciplinary actions taken against Castellvi essentially end his career."The Commandant's decision is part of Maj. Gen. Castellvi's permanent record, and must be considered if he is evaluated for promotion, retention, or roles of responsibility," Wood said.He explained that "this action typically prevents an officer from being promoted or serving in a role where he/she would be charged with the responsibility of caring for Marines and Sailors."Other officers have also been disciplined. Lt. Col. Michael Regner, commanding officer of Battalion Landing Team, 1st Battalion, 4th Marines, was relieved last fall, and Col. Christopher Bronzi, commanding officer of the 15th MEU, was relieved in March.Castellvi the highest-ranking Marine Corps officer to face punishment in the wake of last summer's accident.

The Marine Corps fired a 2-star general, derailing his career after a deadly accident drowned 9 service members

New Delhi, Apr 21 () <keyword id="82073" type="COMPANY" weightage="20" keywordseo="Berger-Paints">Berger Paints</keyword> on Tuesday said it is honouring all hiring commitments given to lateral candidates and campus recruits prior to the imposition of nationwide lockdown to fight COVID-19 pandemic. The paints major also said it has decided against any involuntary furloughs or organizational restructuring that may lead to downsizing of headcount and consequent loss of livelihood during this time of widespread uncertainty due to coronavirus pandemic. "Berger has decided that all offers rolled out to campus recruits across India shall be honoured and no offer shall be revoked," the company said in a statement. In light of the uncertainty in the industry on account of the lockdown, campus recruits are being engaged with continuously to assure them of the sanctity of their job offer, it added. Similarly, the company said, "All hiring commitments given to lateral candidates prior to the nationwide lockdown being announced are being honoured and they are being paid salaries with effect from their pre-committed date of joining, even if the same falls within the lockdown window thereby preventing them from actually joining the organization." It further said salaries of all permanent or fixed-term employees have been disbursed in full and on time. "The company has also engaged with its service providers to ensure that salaries of their associates who are deployed in its facilities are also disbursed in a timely manner so that employees do not face any financial hardships on account of the current situation," it added. Commenting on the company's commitment, Berger Paints Managing Director and CEO Abhijit Roy said, "We are like one big but closely knit family and would fight this battle together. These are challenging times and might require small sacrifices from the entire family to sail through the crisis." He further said, "However, there won't be any retrenchments or involuntary furloughs. We are in this together and would emerge stronger as we come out of the COVID-19 crisis." The company said all new joinees are being "on boarded remotely from the comfort of their homes using conferencing tools such as Zoom or Microsoft Teams". Last week (13th April) Berger Paints India Ltd said it has come forward to help its 20,000 odd painting contractors across the country to tide over the coronavirus crisis through financial assistance as the ongoing nationwide lockdown to contain the COVID-19 outbreak is set tobe extended by two more weeks till April-end. The money will help contractors' families to get daily essentials and cater to any emergency at a time when their incomes have taken a hit as all painting activities came to "ascreeching halt with the lockdown in place", the company saidin a statement. The paint maker is providing an advance to them andthe support varies per contractor, it said. The average financial assistance per contractor isaround Rs 5,500, a company official said. Berger has already started the process of transferring money directly into the bank accounts of the contractors who have been associated with the company, the official said. More than 5,000 contractors have already received the financial support last week under the first phase of the programme. "The painting contractors have always been an integral part of the larger Berger family and we feel humbled that weare in a position to support them in this hour of need," thecompany's MD and CEO Abhijit Roy said. He also hoped that the government will take measuresto restart economic activity through ease of restrictions inareas unaffected by the coronavirus pandemic.

Berger Paints will honor all new recruitments and won't be firing even during lockdown

<ul><li>The SGX Nifty was trading 0.24% lower at 7:32 am, indicating a subdued start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Despite positive cues from the western markets, the Indian equities may open on a cautious note on Friday. The SGX Nifty was trading 0.24% lower at 7:32 am, indicating a subdued start for Nifty50. The US stock markets soared on Thursday, led by a rally in tech and healthcare stocks, as the <a href="https://www.businessinsider.in/stock-market/news/dow-climbs-370-points-as-likely-divided-government-extends-healthcare-and-tech-rallies/articleshow/79065261.cms">dwindling prospects of a Democratic sweep</a> lifted sectors prone to regulation. The Dow Jones Industrial Average closed 542 points higher, and the S&amp;P 500 gained 1.9%. These are the stocks to watch out for during the trading session on November 6: Reliance Industries Limited (RIL) Mukesh Ambani-owned Reliance Industries (RIL) garnered over ₹9,555 crore from <a href="https://www.businessinsider.in/business/news/mukesh-ambani-cashes-in-yet-another-cheque-from-pif-saudi-arabia-sovereign-fund-to-invest-1-3-billion-in-reliance-retail/articleshow/79061345.cms">Saudi Arabia Public Investment Fund</a> for a 2.04% stake in Reliance Retail Ventures. The shares of RIL ended 2.28% higher on Thursday. <keyword id="45417" type="COMPANY" weightage="20" keywordseo="Adani-Power">Adani Power</keyword> Adani Power posted a good quarter. Its consolidated net profit surged manifold to ₹2,228.05 crore in the quarter ended September 30, mainly on account of improved income. The company had clocked a net profit of Rs 3.88 crore in the year-ago period. The shares of Adani Power ended 0.41% higher on Thursday. <keyword id="2834858" type="COMPANY" weightage="20" keywordseo="Minda-Corp">Minda Corp</keyword> Minda Corp will allot 1.19 crore shares on a preferential basis to PHI Capital Trust. The shares will be allotted at a price of ₹70 a piece, aggregating up to ₹83 crore. The shares of Minda Corp ended 6% higher on Thursday. <keyword id="105311" type="COMPANY" weightage="20" keywordseo="INOX-Leisure">Inox Leisure</keyword> The board of cinema hall giant Inox Leisure approved raising up to ₹250 crore via equity or other securities. The shares of Inox Leisure ended 4.5% higher on Thursday. Dalmia Bharat Cement maker Dalmia Bharat reported an over six-fold increase in its consolidated net profit at ₹232 crore for the second quarter ended September 2020, helped by higher sales volume. Its revenue from operations was up 7.78% at ₹2,410 crore during the quarter under review. The shares of Dalmia Bharat ended 6% higher on Thursday. <keyword id="82073" type="COMPANY" weightage="20" keywordseo="Berger-Paints">Berger Paints</keyword> Berger Paints India reported an increase of 13.55% in its consolidated net profit to ₹221.05 crore for the second quarter ended September 2020. Its revenue from operations was up 9% at ₹1,742.55 crore during the quarter under review. The shares of Berger Paints ended 2% higher on Thursday. Birla Corporation Birla Corporation reported an increase of 87% in its profit at ₹166.62 crore in the second quarter ended September 30. The company said that good performance had been due to cost rationalisation and recovery in demand in key markets. The shares of Birla Corporation ended 0.73% higher on Thursday. <keyword id="6357073" type="UNKNOWN" weightage="20" keywordseo="ITC">ITC</keyword>, <keyword id="6357157" type="UNKNOWN" weightage="20" keywordseo="cipla">Cipla</keyword>, Ashok Leyland, BHEL, Tata Consumer and Aditya Birla Fashion ITC, Cipla, Ashok Leyland, BHEL, Tata Consumer and Aditya Birla Fashion are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/heres-when-you-can-expect-more-data-from-each-state-in-the-next-few-hours/articleshow/79065787.cms" data-type="tilCustomLink">Here's when you can expect more data from each state in the next few hours</a> <a href="https://www.businessinsider.in/india/news/china-bans-entry-of-foreign-nationals-from-india-citing-spike-in-covid-19-cases/articleshow/79062691.cms" data-type="tilCustomLink">China bans entry of foreign nationals from India citing spike in COVID-19 cases</a>

Top stocks to watch — RIL, ITC, Cipla, Adani Power, Inox Leisure, Berger Paints, Minda Corp, and others

<ul><li>The SGX Nifty was trading 0.81% lower at 7:55 am, indicating a negative start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Even amid positive cues from the global markets, the Indian equities are likely to open in the red on Thursday. The SGX Nifty was trading 0.81% lower at 7:55 am, indicating a negative start for Nifty50. However, the US stock markets also soared on Wednesday, as investors shrug off the undecided election. The Dow Jones Industrial Average closed 368 points higher, and the S&amp;P 500 gained 2.2%. These are the stocks to watch out for during the trading session on November 5: PVR and Inox Leisure PVR and Inox Leisure stocks will be in focus during the trade today after <a href="https://www.businessinsider.in/india/news/maharashtra-government-allows-reopening-of-cinema-halls-with-50-capacity-from-november-5/articleshow/79041693.cms?upcache=2">the Maharashtra Government has now allowed cinema halls</a> to open in areas outside containment zones with 50% of their seating capacity from today. The shares of PVR and Inox Leisure ended 1% and 2% higher on Wednesday, respectively. HPCL The board of the Hindustan Petroleum (HPCL) approved a ₹2,500 crore share buyback plan as the company management feels the share price is lower than the value it deserves. In a stock exchange filing, HPCL said it would buy back up to 10 crore shares for no more than ₹250/share. The net profit of the company also nearly doubled in the second quarter led by a surge in refining margins and inventory gains. The net profit in July-September stood at ₹2,477 crore as compared to ₹1,052 crore in a year-ago period. The shares of HPCL ended 0.83% higher on Wednesday, SBI Cards SBI Cards and Payment Services (SBI Card) has launched credit cards in partnership with the digital payment platform Paytm. Available in two variants, Paytm SBI Card and Paytm SBI Card SELECT, the product has been launched on the Visa platform. The shares of SBI Cards ended 0.53% higher on Wednesday, JK Lakshmi JK Lakshmi Cement reported an 86.90% rise in consolidated net profit to ₹92.93 crore for the second quarter ended September 30, helped by cost reduction. The revenue from operations rose 11.79% to ₹1,131.74 crore during the quarter under review. The shares of JK Lakshmi ended 4% higher on Wednesday, Jubilant Life Sciences The board of Jubilant Life Sciences approved raising up to ₹100 crore via non-convertible debentures (NCD). The shares of Jubilant Life Sciences ended 2% higher on Wednesday, Pidilite Industries Fevicol maker Pidilite Industries reported a 9.66% increase in consolidated net profit to ₹356.44 crore for the quarter ended September 30. The company’s revenue from operations rose 4.08% at ₹1,880.33 crore during the quarter under review. The shares of Pidilite Industries ended 0.36% lower on Wednesday, Aditya Birla Capital, Adani Power, Berger Paints India and Emami Aditya Birla Capital, Adani Power, Berger Paints India and Emami are slated to report their second-quarter earnings today. SEE ALSO:<a href="https://www.businessinsider.in/politics/world/news/here-are-trump-and-bidens-paths-to-victory-based-on-where-the-election-currently-stands/articleshow/79044299.cms" data-type="tilCustomLink"> How Trump and Biden can win based on where the election stands now</a> <a href="https://www.businessinsider.in/business/auto/news/india-may-announce-vehicle-scrappage-policy-soon-and-this-is-what-it-means-for-consumers-and-new-buyers/articleshow/79041346.cms" data-type="tilCustomLink">India is looking to bring in the vehicle scrappage policy soon — here’s what it means for you</a> <a href="https://www.businessinsider.in/finance/banks/news/sbis-profit-jumps-over-50-in-q2-plans-to-outperform-the-industry-in-credit-growth/articleshow/79039165.cms" data-type="tilCustomLink">SBI’s profit jumps over 50% in Q2 — India’s largest bank plans to outperform the industry when it comes to credit growth</a>

Top stocks to watch — PVR, Inox Leisure, SBI Cards, HPCL, Pidilite Industries, Adani Power, Berger Paints, and others

<ul class="summary-list"><li>In August 2019, Marine Corps Commandant Gen. <keyword id="1633115" type="PERSON" weightage="60" keywordseo="David-Berger">David Berger</keyword> published his Commandant's Planning Guidance, detailing a dramatic shift in the Marine Corps' force structure.</li><li>It positions the Marines to take on <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword>, but it also makes a subversive proposal to take on a sophisticated rival with cheaper capabilities than what the other branches are pursuing.</li></ul>US Marine officers are notoriously dismissive of those who talk about strategy. "Strategy?" a Marine who served in Vietnam says. "Here was our strategy: hey-diddle-diddle, straight-up-the-middle."The description rings true: The Marine Corps' most famous fights were straight-ahead affairs that gave the Corps its most celebrated moments: at Belleau Wood (in World War I), at Tarawa, Iwo Jima and Okinawa (in World War II), at Inchon (during Korea), at Hue (in Vietnam) and, most recently during the battles for Fallujah, back in 2004. Now, it seems, all of that is changing.In August of last year, Marine Corps Commandant Gen. David Berger published his Commandant's Planning Guidance, a detailed recasting of the Marine Corps' force structure.By any measure, Berger's guidance marked a breathtaking shift away from the service's urban combat focus and its follow-on mandate of "countering violent extremists in the Middle East" to a "great power/peer level competition, with special emphasis on the Indo Pacific…"<div type="image" title="US Marine Corps Marines amphibious assault KAMANDAG Philippines" height="933" width="1400" msid="78864292" hostid="261"></div><a href="https://mca-marines.org/call-to-action-commandants-planning-guidance/">The shift, Berger admits, is sweeping</a>: "from inland to littoral, and from non-state actor to peer competitor." The guidance reduces tank companies (from 7 to 0), artillery batteries (from 21 to 5), infantry battalions (from 24 to 21), amphibious vehicle companies (from 6 to 4), helicopter attack squadrons (from 7 to 5), and the number of F-35Bs in its air squadrons.The guidance eliminates law enforcement battalions and bridging companies. And the force itself will be cut by some 12,000 personnel over a period of 10 years. More simply: Berger's guidance ("to be clear, it's not really a new strategy," <a href="https://warontherocks.com/2019/12/notes-on-designing-the-marine-corps-of-the-future/">one senior Marine officer notes</a>, "it's more like a new operational concept") cuts structure in favor of adopting "long range precision fires, advanced reconnaissance capabilities, unmanned systems and resilient networks."The shift is here to stay: Berger clamped a non-disclosure requirement on participants in the wargames that led to the rethinking and, just last week, <a href="https://www.marinecorpstimes.com/news/your-marine-corps/2020/10/08/corps-cancels-dense-urban-warfare-experiment-to-focus-on-marine-littoral-regiment/">cancelled</a> the "Metropolis II" exercise testing tactics the Marines would adopt to fight in cities. Instead, the service <a href="https://www.marinecorpstimes.com/news/your-marine-corps/2020/09/22/corps-to-begin-3-year-marine-littoral-regiment-experiment-using-hawaii-marines/">will focus on building a new Marine Littoral Regiment (an MLR)</a> that would allow it to operate on small atolls and islands against a projected threat in the Pacific — read: China.Berger's new MLR is billed as "dispersed, agile and constantly relocating" (a combat team, a logistics element and an anti-air battalion), and delivered to the battleground by a <a href="https://news.usni.org/2020/02/20/navy-researching-new-class-of-medium-amphibious-ship-new-logistics-ships">yet-to-be-designed class of amphibious ships</a>. Dispersed and agile? For Berger's critics, the MLR looks more like a Navy landing party (of some 1800 swabees) than an all-arms 3600 trooper Marine regiment of hardcore fighters. Berger would almost certainly reject the claim, but his guidance ties his service more closely to the Navy than it has been since the Marines landed on Guadalcanal."During World War II, we as a Service, clearly understood that Marines operated in support of the Navy's sea control mission," the guidance argues. "In subsequent years, the luxury of presumptive maritime superiority deluded us into thinking the Navy existed to support 'Marine' operations ashore. That era was a historic anomaly, and we need to re-focus on how we will fulfill our mandate to support the fleet."<div type="image" title="USMC assault amphibious vehicle" height="3616" width="5424" msid="78864293" hostid="261"></div>Berger's guidance earned initial praise, even from would-be detractors ("it's one of the most well-written documents to come out of the Pentagon in a long while," a US Army force planner admitted), as well as a host of respected military thinkers, including Dr. James Lacey, a former US infantry officer and director for War, Policy, and Strategy at the Marine Corps War College. "I think Berger has boldly taken the Corps in a direction it must go as we reenter a period of great state competition," he wrote in an email.More crucially, Chris Brose, the former staff director of the Senate Armed Services Committee — whose questions to the services in 2018 helped to fuel Berger's thinking — <a href="https://www.washingtonpost.com/opinions/the-marines-have-set-the-bar-for-reform-can-the-rest-of-the-military-follow/2019/08/08/21b47d5e-ba1c-11e9-b3b4-2bb69e8c4e39_story.html">told columnist David Ignatius</a> that the new Marine guidance "looks reality in the face and says we've got to make changes. He doesn't hedge, he doesn't fudge. He makes choices. He's thrown down the gauntlet for the other services."Not everyone agrees. An early and outspoken critic of Berger was James Webb, a former Marine Corps officer, Vietnam veteran and secretary of the Navy.For Webb, the Berger guidance reads like a pointy-headed powerpoint presentation cooked up by draft dodging Marine Corps wannabes: "Interestingly, when citing his philosophical inspiration at the outset of his proposal, General Berger chose to ignore two centuries of innovation and ground-breaking role models who guided the Marine Corps through some of its most difficult challenges," Webb wrote in a much-circulated article in The National Interest. "The giants of the past — John LeJeune, Arthur Vandegrift, Clifton Cates, Robert Barrow and Al Gray, just for starters — were passed over, in favor of a quote from a professor at the Harvard Business School who never served. Many Marines, past and present, <a href="https://nationalinterest.org/feature/future-us-marine-corps-152606">view this gesture as a symbolic putdown</a> of the Corps' respected leadership methods and the historic results they have obtained."Webb's critique is echoed by other experts, including Dr. Williamson "Wick" Murray, one of the nation's most respected defense thinkers."The Marines are the most intellectual of all services," Murray told me in an extensive telephone interview, "so I'm a little surprised that the guidance leaves so many unanswered questions. It goes too far in stripping out capabilities, lacks important details on how these capabilities will be replaced and doesn't provide strategic solutions to strategic challenges. This guidance needs to be more nuanced and more flexible. It's not. It puts everything on the table for countering China, but if history teaches us anything it's that the enemy you get is rarely the one you plan for."Murray also notes the unease that greeted the guidance from the US Navy. "The big assumption here is that the Navy wants to cooperate, that it'll be a willing partner. Maybe: but its yet to be seen whether they're capable of taking this on."A senior US Navy strategist, speaking on background because of the sensitivity of the topic, agrees: "The Navy has largely ignored strategy and focused on what to buy and how to buy it, then figuring out how to use what they have." Which is to say that the Navy leadership seems strangely out of touch with what Berger is doing — a kind of hey-diddle-diddle-let's-buy-more-ships focus that retains its legacy platforms (Berger dubs them "large ships" — like aircraft carriers — "with large electronic, acoustic, or optical signatures") at the same time that the Marines are shedding theirs.<div type="image" title="Marine Corps commandant David Berger" height="933" width="1400" msid="78864294" hostid="261"></div>That the Navy seems relatively clueless is something of a surprise, since the Navy that was one of the first services to pivot to Asia.In 2010, Adm. Gary Roughead, the chief of naval operations, and Gen. Norton Schwartz, the head of the Air Force, signed a classified memorandum directing their services to develop "AirSea Battle" — a new operational concept designed to overcome China's development of anti-access and area denial weapons. The idea was to find ways to preserve the US military's access to the Western Pacific."The Air Force and Navy arrived, almost simultaneously, at the same 'aha' moment," defense intellectual and Navy expert Bryan McGrath told me in 2015. "They saw that there was a power rising that could challenge what each of them do best. For the Navy, that's power projection — and for the Air Force, that's air power. And for decades, neither of those battle spaces was in jeopardy. But suddenly, with what China was doing, that was no longer true. Suddenly, there was a power in the Pacific that was going to challenge the way they fight."Retired US Army Colonel Kevin Benson, one of his service's premier thinkers, puts it this way: "Close combat is a thing of the past," he says. "If the enemy knows where you are, he can kill you. We live in an era of hypersonic weapons and satellite-linked units. So you have to get under that umbrella, you have to look for a seam in his defenses, or you have to create one. You have to put more fire on the bad guy faster than he can respond. Berger's guidance is incomplete, but that's what he's trying to do."Berger's thinking reflects this reality. "The rapid expansion of China's area-denial capabilities, coupled with its pivot to the sea . . . have fundamentally transformed the environment in which the U.S. military will operate for the foreseeable future," Berger wrote in an article in War on the Rocks last December. "For the first time in a generation, sea control is no longer the unquestioned prerogative of the United States."To counter this,<a href="https://www.marinecorpstimes.com/news/your-marine-corps/2020/01/29/new-corps-formation-marine-littoral-regiment-may-be-how-the-corps-fights-future-battles/"> the Marines will deploy</a> "low cost, lethal air and ground unmanned platforms, unmanned long range surface and subsurface vehicles, mobile, rapidly deployable rocket systems, long range precision fires, loitering munitions… mobile air defense and counter-precision guided munitions capabilities, signature management, electronic warfare and expeditionary airfields."<div type="image" title="Marine Corps RQ-21 Australia" height="1666" width="2500" msid="78864295" hostid="261"></div>But while Berger's focus is on China, some Pentagon officials suspect that other realities are driving his thinking.Berger says as much one-third of the way through his guidance: "The principle challenge facing the Marine Corps today," he writes, "lies in continuing to fulfill its charter as the naval expeditionary force-in-readiness, while simultaneously modernizing the force … with potentially fewer Marines, and a possible reduction in total resources." Berger makes it clear that he's willing to "secure additional modernization dollars in exchange for force structure …" — another way of saying that the Marines are willing to live with fewer numbers so long as they get new weapons.In truth, the Marines may not have a choice: Pentagon officials concede that the services are entering an era of flatline or even plunging budget authorizations at the same time that they're having difficulty signing up and retaining new recruits. It's easy to say you're going to have fewer Marines when no one is showing up at your recruiting stations. Among Berger's critics are those who discuss his ideas while giving a wink-wink at this reality: The enemy the Marines are fighting isn't China, they say, it's the defense budget.But suggesting that it's the budget, and not China, that is behind Berger's thinking brings often angry responses from those paid to think about naval strategy."Usually when budgets flatline, services become conservative and double down on what they consider to be their 'core,'" the senior naval strategist to whom I spoke, says. "That's doesn't seem to be what the Marines are doing here ... This is really just the Marines figuring out how to do their job."Finally, the guidance's most outspoken critics, including one senior Marine who served in Afghanistan, point out that Berger plans to fight China with "units yet to be formed, transported on amphibious ships yet to be built, linked by networks yet to be developed and armed with anti-missile capabilities yet to be tested."The rejoinder from the Navy strategy expert with whom I spoke is pointed: "Does a lack of completed technology mean that you don't start pushing forward? The Marines worked on amphibious doctrine before the Higgins Boat was done [in World War II] and worked on helicopter doctrine way before they had helos with the range and capacity to actually do it. Working on the technology hasn't stopped the Marines before."<div type="image" title="Marine Corps Marines" height="1667" width="2500" msid="78864296" hostid="261"></div>Of course, there is also an unstated agenda here, as any number of Berger critics note.The new guidance positions the Marines as the lead service for the emergent and increasingly empowered China-is-the-enemy lobby. And while that view is far from an accepted fact, the guidance will help sell it. Or, to paraphrase one Asia expert: If you treat China like an enemy, and name them as an enemy, you're going to get what you ask for.It's a smart move for Berger and his service, but it's also transparent — and cynical: In an era of flatlining or eroding budget numbers, the Marines can not only claim to be "the first to fight"; they can claim to be the first in line to get the anti-China defense dollars. Which, presumably, is exactly where Berger wants them to be.If there is a bottom line here, it is that while Berger partisans argue that his guidance is "visionary, disruptive and transformational," his detractors use the same adjectives to highlight its weaknesses: It's too visionary, <a href="https://www.thedrive.com/the-war-zone/29608/marine-bosss-audacious-plan-to-transform-the-corps-by-giving-up-big-amphibious-ships">too disruptive and too transformational</a>.But it's also "subversive," as the Marine veteran of Afghanistan told me. "If Berger is right, if it's possible to do better with less, than why can't the Army, Navy and Air Force do the same?" he asks. "If Berger's planning guidance is the wave of the future, then why are the Army, Navy and Air Force stuck in the past?"Which suggests other, yet to be answered, questions: If aircraft carriers and other "expensive and exquisite capabilities" (as Berger describes them) are vulnerable, then why do we continue to build and deploy them?"The Navy, especially, needs to provide answers," this Marine says, "and the last time I checked, Berger's office was on the same corridor as the chief of naval operations. So if he really wants to know what the Navy thinks, all he has to do is walk down the hall and ask."

The Marines Corps is rolling out a 'subversive' new strategy to take on China

<ul><li>At 7:49 am the SGX Nifty was trading 0.69% higher, indicating a positive start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amid positive cues from Asian markets, the Indian stock market is likely to open in green. At 7:49 am, the SGX Nifty was trading 0.69% higher. Other Asian markets are also trading in the green — Hong Kong’s Hang Seng Index was up 0.60%, and the Shanghai Composite Index was up nearly 0.18%. These are the stocks to watch out for during the trading session on September 28: Hero MotoCorp According to<a href="https://www.timesnownews.com/business-economy/companies/article/harley-davidson-close-to-deal-with-indias-hero-motocorp-after-stopping-local-manufacturing-sources/657938"> media reports</a>, the US bike maker Harley Davidson is in talks with the Indian two-wheeler major Hero MotoCorp to enter into a distribution arrangement that will allow the Indian company to import and sell Harley bikes as its sole distributor. The shares of Hero MotoCorp ended 3% higher on Friday. SBI and Future Group stocks Media <a href="https://www.thehindubusinessline.com/money-and-banking/biyani-close-to-deal-with-sbi-to-future-proof-insurance-arms/article32709290.ece">reports </a>suggest that as a part of a plan to cut down on debt, the Kishore Biyani-owned Future Group companies are set to ink a deal with State Bank of India for the sale of both the general and life insurance segments. This may move other Future Group stocks as well such as — Future Lifestyle, Future Retail and Future Enterprises. Reliance Industries (RIL) Silver Lake Partners has <a href="https://www.businessinsider.in/retail/news/reliance-retail-raises-1-billion-from-silver-lake-valuing-the-chain-at-57-billion/articleshow/78009435.cms">picked up 1.75% stake</a> in the retail arm of Mukesh Ambani owned RIL. The company invested ₹7,500 crore into its arm Reliance Retail Ventures Ltd (RRVL). The shares of RIL ended 1% higher on Friday. NTPC Ltd The state-owned NTPC Ltd said it has successfully synchronised a 660-MW unit of its supercritical thermal power plant in Bihar with the grid. The company said it would help the commercial generation of electricity from it. The shares of NTPC ended 2.36% higher on Friday. Videocon Industries ad BPCL The state-owned Bharat Petroleum (BPCL) has been forced to pay for its defaulting partner Videocon Industries after it had relied on a rarely used model to acquire a stake in five oil blocks in Brazil, according to <a href="https://energy.economictimes.indiatimes.com/news/oil-and-gas/bpcl-pays-for-defaulting-videocon-in-brazil-oil-block/78355979">reports</a>. The shares of Videocon Industries ended 5% lower on Friday, whereas BPCL shed nearly a percent. Sun Pharma The drug major Sun Pharma in its Annual Report for 2019-20 said the company is looking to expand its speciality business across different regions like Greater China and Japan after having established presence in the US market. The shares of Sun Pharma ended 0.72% higher on Friday. Berger Paints India’s second-largest paint maker, Berger Paints said that despite the coronavirus uncertainty its capital expenditure for this fiscal year remains unaffected and will be the same as last year. The major investment will be in its upcoming Sandila plant near Lucknow of around Rs 260 crore, and the plant is expected to be operational from 2022 onwards. The shares of Berger Paints ended 0.88% higher on Friday. Vodafone Idea The telecom regulator TRAI has decided to drop proceedings against Vodafone Idea in priority plan matter after the telco withdrew contentious claims on faster speed and modified its offering. The shares of Vodafone Idea ended 12% higher on Friday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-to-check-cams-ipo-share-allotment-status/articleshow/78311094.cms" data-type="tilCustomLink">CAMS IPO allotment: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/business/auto/news/the-list-of-global-auto-companies-exiting-india-in-last-five-years-including-harley-davidson-fiat-and-general-motors/slidelist/78315633.cms" data-type="tilCustomLink">Harley Davidson is the latest to join the list of global auto companies exiting India in last five years — Here’s a closer look</a> <a href="https://www.businessinsider.in/stock-market/news/heres-how-to-check-chemcon-speciality-chemicals-ipo-share-allotment-status-online/articleshow/78328884.cms" data-type="tilCustomLink">Chemcon IPO allotment: Here’s how to check share allotment status</a>

Top stocks to watch— SBI, RIL, Hero Moto, NTPC, Sun Pharma, Vodafone Idea, Berger Paints and others

<ul><li>The S&amp;P BSE Midcap Index was trading more than 1% higher at 11,340.90 points at 2 pm. </li><li>The shares of PNB Housing Finance Limited were trading nearly 11% higher during the trade on August 18.</li><li>The shares of CG Power and Industrial Solutions hit 5% upper circuit on August 18.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The overall market has been trading in the green today. Both Sensex and Nifty were up nearly 1% at 2pm, though they had pared their morning gains a tad. One index that has been a performer today is the Midcap Index, which has been holding up The S&amp;P BSE Midcap Index was trading more than 1% higher at 11,340.90 points at 2 pm. Here’s a quick look at the gainers of S&amp;P BSE Midcap Index PNB Housing <div type="image" title="PNB Housing August 18" msid="77609821" hostid="261"></div> The shares of PNB Housing Finance Limited were trading nearly 11% higher during the trade on August 18 ahead of its board meeting tomorrow to consider fundraising. “A meeting of the Board of Directors of PNB Housing Finance Limited (the “Company”) is scheduled to be held on Wednesday, August 19, 2020, to consider fundraising by the company, and the mode thereof, by the issue of Equity Shares and/or other securities through any permissible modes, as may be considered appropriate, subject to such approvals as may be required,” the company said in a filing to stock exchanges. Berger Paints <div type="image" title="Berger Paints August 18 new" msid="77609965" hostid="261"></div> The shares of Berger Paints were trading nearly 4% higher during the trade on August 18 after reports surfaced that the Berger’s CEO is expecting double-digit growth in August. “Just before COVID-19 (pandemic), things had slowed down in the third and fourth quarter. Compared to that we are better off and probably some demand has shifted from April and has not got destroyed”, says <a href="https://economictimes.indiatimes.com/markets/stocks/news/expecting-a-double-digit-growth-in-august-berger-paints/videoshow/77594252.cms">Abhijit Roy, MD &amp; CEO, Berger Paints told ET Now</a>. CG Power and Industrial Solutions <div type="image" title="CG Power" msid="77610037" hostid="261"></div> The shares of CG Power and Industrial Solutions hit 5% upper circuit on August 18 minutes after opening as the Singularity Holdings acquired 35 lakh shares of the company at ₹13.95 per share and the Blue Diamond Properties bought 4,12,93,778 shares of ₹13.97 per share. There were pending orders of 4,822,841 shares to buy, with no sellers available. GPT Infraprojects Ltd <div type="image" title="GPT infra" msid="77610111" hostid="261"></div> The shares of GPT Infraprojects Limited gained over 10% after the company announced that it had bagged an order valued at ₹196.30 crores. Railway Vikas Nigam, Kolkata has awarded the contract, which involves the construction of Metro Railway Viaduct and Ramp at Joka Depot end in connection with Joka Esplanade Metro Railway Project in Kolkata. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/tata-motors-sbi-card-bandhan-bank-ril-britannia-sbi-cards-share-price-are-top-movers-on-dalal-street-today/articleshow/77605529.cms" data-type="tilCustomLink">Top stock movers on Dalal Street today — Tata Motors, SBI Card, Bandhan Bank, RIL, Britannia</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-ril-sbi-cards-hal-manappuram-airtel-bandhan-bank-britannia/slidelist/77603872.cms" data-type="tilCustomLink">Top stocks to watch today— RIL, SBI Cards, HAL, Manappuram, Airtel, Bandhan Bank and more</a>

Here's a look at top midcap gainers today— PNB Housing, Berger Paints, CG Power, GPT Infraprojects

Kolkata, Apr 24 () As uncertainty over pay and jobsecurity is looming large over the country's industrial housesbecause of the Covid-19 triggered lockdown, coating majorBerger Paints on Friday said it has no plan for salary cuts,retrenchment or involuntary furlough for its employees.The company having 2,920 employees on its roll alsostated that there will be no impact of the crisis on newrecruitment offers."We are like one big but closely knit family andwould fight this battle together. These are challenging timesand might require small sacrifices from the entire family tosail through the crisis. However, there won't be anyretrenchments or involuntary furloughs," Berger Paints MD &amp;CEO Abhijit Roy said."Even in the current scenario, when our sales in Aprilplummeted to negligible levels and May business would dependon the (duration of) lockdown, the company will pay fullsalaries to its employees for April and May," Roy told when asked.The ongoing nationwide lockdown is scheduled to belifted on May 4.Berger said it has decided against any involuntaryfurloughs or organisational restructuring that may lead todownsizing of headcount and consequent loss of livelihoodduring the time of widespread uncertainty.The company had also engaged with its serviceproviders to ensure that salaries of their associates are paidto avoid hardships.The company has onboarded a total of 21 lateralemployees in management andnon-management levels in April andthe induction process of more than 100 campus offers is slatedto begin shortly, Berger said.They had been assured that the job offers, includingsalary benefits, would not be revoked even though the lockdowndelays their joining.On the resumption of plant operations, the companysaid it is closely working with various state authorities andcurrently the plants in Assam, Goa, Pondicherry and Gujaratare in line to get started with a capacity of 30 per cent withstrict adherence to the MHA directives. BSMNN NN

Berger says no to job or salary cut during coronavirus crisis

Kolkata, Apr 13 () Berger Paints India Ltd onMonday said it has come forward to help its 20,000 oddpainting contractors across the country to tide over thecoronavirus crisis through financial assistance as the ongoingnationwide lockdown to contain the COVID-19 outbreak is set tobe extended by two more weeks till April-end.The money will help contractors' families to get dailyessentials and cater to any emergency at a time when theirincomes have taken a hit as all painting activities came to "ascreeching halt with the lockdown in place", the company saidin a statement.The paint maker is providing an advance to them andthe support varies per contractor, it said.The average financial assistance per contractor isaround Rs 5,500, a company official said.Berger has already started the process of transferringmoney directly into the bank accounts of the contractors whohave been associated with the company, the official said.More than 5,000 contractors have already received thefinancial support last week under the first phase of theprogramme."The painting contractors have always been an integralpart of the larger Berger family and we feel humbled that weare in a position to support them in this hour of need," thecompany's MD and CEO Abhijit Roy said.He also hoped that the government will take measuresto restart economic activity through ease of restrictions inareas unaffected by the coronavirus pandemic. BSMBDC BDC

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The Marines Corps is rolling out a 'subversive' new strategy to take on China

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