Religare optimistic to fight Covid-19 crisis with robust business plans; stock up 1%

In response to the early signs of the pandemic, employee advisory was issued on March 15, 2020, which required work planning for critical tasks.

Jun 16, 2020 10:06 IST India Infoline News Service

Religare Enterprises Ltd.
New Delhi based Religare Enterprises Limited informed the exchanges Monday that the operations of the company and its subsidiaries were affected during the lockdown but they devised business plan to fight the Covid-19 crisis.

The company said that the impact of the Covid-19 will be known after the annual audit of the accounts which is under process.

In response to the early signs of the pandemic, while the company and its subsidiaries kept its offices open, employee advisory was issued on March 15, 2020, which required work planning for critical tasks and encouraging employees to largely work from home.

Non-essential travel was halted, entry of external stakeholders visit on office premises was restricted and self-isolation of 14 days for overseas travelers was mandated.

Due to Covid-19 lockdown, the company and its subsidiaries kept its offices closed at all locations from March 23, 2020 and a policy for Work From Home. Business Continuity was ensured through availability and accessibility of required data to authorize personnel of the Company through a secured channel, post connecting VPN (Virtual Private Network).

Now, in view of the relaxations provided by the Order issued by Ministry of Home Affairs (MHA), Govt. of India, dated May 1, 2020, the offices of company have been resumed in a phased manner in Delhi and Noida from May 18, 2020 with strict protocols and Do & Don’ts to be followed by the staff.

Similarly the offices of the subsidiaries across the country are also being resumed in a phased manner with due precautions and safeguards.
Religare Enterprises Limited is the holding company for its various businesses i.e. Lending, Health Insurance and Broking being carried through its subsidiary companies.

Religare Enterprises Ltd is currently trading at Rs36 up by Rs0.35 or 0.98% from its previous closing of Rs35.65 on the BSE.

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