Latest news with #StandardMark
Economic Times
27-05-2025
- Business
- Economic Times
Standards regulator BIS seizes FirstCry products worth Rs 90 lakh
The Bureau of Indian Standards (BIS) carried out a search and seizure operation on Monday at a Bengaluru warehouse of FirstCry parent Brainbees Solutions, confiscating goods worth Rs 90 lakh for further investigation, the company said in an exchange filing on Tuesday. The action did not impact the company's operations, and they continue as usual, omnichannel baby care retailer FirstCry said in its filing. The standards regulator has alleged that FirstCry is in contravention of Section 14(6) of BIS Act, 2016 regarding a few products. The provision prohibits unauthorised establishments from assigning the Standard Mark or the ISI Mark to goods. The mark indicates a product meets the required quality standards."The company has taken note of the observations made by the BIS and is obtaining appropriate legal advice. Further, the company has no reasons to believe that the products seized by BIS are non-compliant of BIS Act, 2016,' the company said. On Monday, Brainbees Solutions reported a subdued performance for the March quarter, with its consolidated net loss widening 2.5 times year-on-year (YoY) to Rs 111.5 crore, compared to Rs 43 crore in the same period last year. The drop in bottomline came despite a 16% YoY rise in operating revenue to Rs 1,930.3 crore during the quarter. Along with revenue growth across business segments, the FirstCry parent saw consolidated expenses increase to Rs 1,914 crore, up from Rs 1,634 crore in the previous quarter.
Time of India
27-05-2025
- Business
- Time of India
Standards regulator BIS seizes FirstCry products worth Rs 90 lakh
The Bureau of Indian Standards (BIS) carried out a search and seizure operation on Monday at a Bengaluru warehouse of FirstCry parent Brainbees Solutions , confiscating goods worth Rs 90 lakh for further investigation, the company said in an exchange filing on Tuesday. The action did not impact the company's operations, and they continue as usual, omnichannel baby care retailer FirstCry said in its filing. The standards regulator has alleged that FirstCry is in contravention of Section 14(6) of BIS Act, 2016 regarding a few products. The provision prohibits unauthorised establishments from assigning the Standard Mark or the ISI Mark to goods. The mark indicates a product meets the required quality standards . by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo "The company has taken note of the observations made by the BIS and is obtaining appropriate legal advice. Further, the company has no reasons to believe that the products seized by BIS are non-compliant of BIS Act, 2016,' the company said. On Monday, Brainbees Solutions reported a subdued performance for the March quarter, with its consolidated net loss widening 2.5 times year-on-year (YoY) to Rs 111.5 crore, compared to Rs 43 crore in the same period last year. Live Events The drop in bottomline came despite a 16% YoY rise in operating revenue to Rs 1,930.3 crore during the quarter. Along with revenue growth across business segments, the FirstCry parent saw consolidated expenses increase to Rs 1,914 crore, up from Rs 1,634 crore in the previous quarter. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories
India.com
12-05-2025
- Business
- India.com
This smallcap stock surges over 9 percent on fresh BIS certification
Stock market- File image- For Representational purpose Shares of the iron and steel products company Rathi Steel zoomed over 9 per cent today. The action in the stock comes after the company informed exchanges that the company has received a prestigious certification from the Bureau of Indian Standards (BIS), India's national standards authority. The scrip started the session in green and opened with a gain of 5.18 per cent at Rs 29.45 on the BSE. It had closed at Rs 28.02 in the last trading session. It surged further to touch the intraday high of 30.65 – a gain of 9.46 per cent. Last seen, the counter was trading at Rs 30.01 with a gain of 7.10 per cent. The 52-week high of the stock is Rs 97.81, and the 52-week low is Rs 24.50. From the perspective of returns, the shares of the company have given a multibagger return of around 640 per cent in five years. However. It has corrected around 55 per cent in one year and over 28 per cent so far this year. According to the regulatory filing, the BIS has granted the company a license to use the BIS Standard Mark on its Fe 500 Reinforcement Bars, categorized under the title 'High Strength Deformed Steel Bars and Wires for Concrete Reinforcement, Fe 500 for nominal bar sizes ranging from 8 mm to 25 mm in diameter.' Meanwhile, the stock market benchmark indices Sensex and Nifty rebounded sharply today and surged over 3 per cent amid a ceasefire between India and Pakistan. After starting the trade in the green, the 30-share BSE benchmark gauge Sensex further jumped 2,376.18 points or 2.99 per cent to 81,830.65 in morning trade. The NSE Nifty surged 729.8 points or 3 per cent to 24,737.80. As a result, Investors' wealth jumped by Rs 13.13 lakh crore to Rs 4,29,54,415.37 crore (USD 5.02 trillion) during the morning deals. From the Sensex firms, Adani Ports, Axis Bank, NTPC, ICICI Bank, HDFC Bank, Infosys, HCL Tech and Bajaj Finance were the major gainers. Sun Pharma and IndusInd Bank were the only laggards from the pack. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were quoting higher.
Time of India
23-04-2025
- Business
- Time of India
‘QCO will hurt Gujarat's dye makers'
1 2 3 Ahmedabad: Gujarat's micro, small, and medium-scale dyes manufacturers have opposed the Centre's move to implement a quality control order (QCO) for three intermediate chemicals — H-acid, K-acid and vinyl sulphone — widely used for various dyes manufacturing. They say the move will lead to an artificial price increase in the domestic market. Gujarat Dyestuffs Manufacturers' Association (GDMA) has raised the issue. Its secretary, Nilesh Damani, said, "The QCO is expected to be implemented next month. We did a survey among our members, and the majority are opposing it. QCO will lead to cartelisation and an artificial increase in price, leading to Indian dyestuff manufacturers losing out to the Chinese in the international market. This, in turn, will lead to Chinese dyestuff being imported into India. It is against the principle of ease of doing business." Once the QCO is implemented, local and foreign manufacturers must adhere to the Indian standard and display the Standard Mark, obtained through a licence from the Bureau of Indian Standards (BIS). GDMA president Dipak Patel said, "In most cases, the quality of imported goods (Chinese) is better than the Indian goods. In some high-quality and high-value dyestuff, it is critical to have only Chinese material. Our industry has a majority of SMEs who will be at the mercy of a few composite manufacturers. This will result in unfair trade practices. The implementation of QCO would be the beginning of the slow death of MSME dyestuff manufacturers ."
