The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency proceedings against Birla Tyres Ltd in a case filed by multi-business chemicals firm SRF Ltd, an operational creditor of the BK Birla group firm. A two-member Kolkata bench of the NCLT has also appointed Seikh Abdul Salam as Interim Resolution Professional (IRP) to [...]
Shares of athleisure footwear company Campus Activewear Ltd made a healthy market debut on Monday and jumped nearly 30 per cent against the issue price of Rs 292. The stock listed at Rs 355, registering a premium of 21.57 per cent, against the issue price on the BSE. During the day, it zoomed 43 per [...]
Food and consumer affairs minister Piyush Goyal on Monday stressed on simplification and decriminalisation of offences under the Legal Metrology Act, 2009 for ease of doing business and asked states to come to a consensus on this issue so that a draft could be put in public domain for feedbacks from all stakeholders. He mentioned [...]
Healthcare major Abbott on Monday said it has launched a test that will help in early detection of Hepatitis B virus (HBV) in human serum and plasma samples. The company has introduced HBsAg Next Qualitative solution to help improve patient outcomes while maintaining safe blood supplies. This highly sensitive chemiluminescent microparticle immuno assay (CMIA) assists [...]
India has initiated an anti-dumping probe against imports of a certain type of optical fibre from China, Indonesia and South Korea following a complaint by a domestic player. The duty is aimed at protecting domestic industry from cheap imports. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) is probing the alleged dumping [...]
Suven Pharmaceuticals on Monday said its consolidated profit after tax has increased by 11 per cent to Rs 92 crore for the fourth quarter ended March. The company had reported a profit after tax (PAT) of Rs 83 crore in the January-March quarter of 2020-21 fiscal. Revenue from operations rose to Rs 364 crore in [...]
Amid multiple incidents of electric vehicles catching fire, Niti Aayog Member and eminent scientist V K Saraswat has said that battery cells imported for electric vehicles "may not be" suitable for the country's conditions and emphasised the need for locally manufacturing the cells. His comments also come against the backdrop of authorities probing such incidents [...]
Domestic ratings agency India Ratings on Monday revised up its outlook on the commercial realty for FY23, saying the full resumption in the economic activities can revive demand for the sector. The outlook has been raised to "improving" for FY23, from "neutral" in FY22, anticipating an improvement in performance, the agency said. It said the [...]
