The shares of Amber Enterprises India Ltd, a leader in the domestic air conditioning industry, tumbled nearly 20 per cent to Rs around Rs 2,715 early on Monday after the company reported that its profit after tax fell over a fifth from a year ago.
Synopsis
The government is also contemplating exemption of customs duties on the components used for manufacturing the equipment and help in sourcing them so that several domestic companies can start production of these devices immediately.
Getty Images
The government has reached out to multiple Indian companies and startups, offering licences and transfer of technologies to make Covid care equipment such as oxygen concentrators, non-invasive ventilators, and make-shift hospitals on a war footing to improve their availability amid the pandemic.
These technologies are developed by Council of Scientific and Industrial Research (CSIR) and the Indian Institutes of Technology (IITs).
The government is also contemplating exemption of customs duties on the components used for manufacturing the equipment and help in sourcing them so that several domestic companies can start production of these devices immediately.