The government on Wednesday proposed a slew of changes to the insolvency law, including fast-tracking the process and expanding the scope of pre-packaged framework. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, provides for a market-linked and time-bound resolution of stressed assets. The Code has already undergone various amendments. "To strengthen [...]
The Jammu and Kashmir administration has proposed an allocation of Rs 350 crore in next five years for the development of dairy sector across the Union Territory and said the move will create around 16,000 jobs and 600 enterprises. The administration has recently approved a project to increase milk production in the region by a [...]
The domestic automotive industry has seen a healthy revival in the current fiscal, aided by a recovery in economic activities and increased mobility, and is expected to grow at high single-digit levels across segments in FY24, a report said on Wednesday. Category-wise, passenger and commercial vehicle volumes could see a growth of 6-9 per cent [...]
Benchmark indices climbed for the second consecutive trading session on Wednesday, lifted by metal and financial stocks. In addition, FII buying boosted sentiments on D-Street. The BSE Sensex closed for the day at 61045.74 points, up 0.64%, while the NSE Nifty 50 settled at 18,165.35 pints, up 0.62% Here are three stocks that hit the [...]
Jubilant Food Works Ltd, a food services player, has opened its first restaurant of the American fried chicken brand, Popeyes in the city, a top official of the company said on Wednesday. The company inaugurated its first restaurant in Bengaluru, which was followed by rapid expansion to 12 restaurants across the city in less than [...]
Dr Reddy's Laboratories on Wednesday said it has reduced the price of its cardiovascular drug Cidmus. The drug comprises combination of sacubitril and valsartan and is indicated for heart failure patients. The company's Cidmus tablets are available in three strengths – 50mg, 100mg and 200mg, to be taken twice a day. "Following the price reduction, [...]
Equity benchmarks extended their rally for the second straight session on Wednesday amid buying in index heavyweights HDFC twins and foreign funds inflows. Recovery in most of the Asian markets and positive start in European equity exchanges also added to the momentum. The 30-share BSE Sensex climbed 390.02 points or 0.64 per cent to settle [...]
Steel manufacturer Tata Steel has set up a Centre for Innovation in Mobility at the Indian Institute of Technology, Madras Research Park here, to develop application technologies for current and future mobility platforms, the company said on Wednesday. The Centre would work closely with academia and the mobility industry. It has facilities for Computer Aided [...]
Corporate funding in the global solar sector declined 13 per cent year-on-year to USD 24.1 billion in 2022, according to a Mercom Capital report. Corporate funding includes venture capital and private equity (VC and PE), debt financing, and public market financing. "Total corporate funding in 2022 (first nine months) stood at USD 24.1 billion, 13 [...]
Abrasives and precision component manufacturer Wendt India on Wednesday reported standalone profit after tax at Rs 11.45 crore for the October-December 2022 quarter. The Murugappa group company had registered a standalone profit after tax at Rs 6.76 crore during corresponding quarter of previous year. In a BSE filing, the company said the increase in profit [...]
