Savita Chemicals said that it proposed to change the company's name to Savita Oil Technologies. The company further said that the authorized capital of the company would be raised to Rs.30 crore from existing Rs.15 crore.
The company also decided to close its wholly owned subsidiary in UAE, Solaris International FZE. The company said that a postal ballot would be conducted for the above said issues.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.