|
|
| Khaitan India opens C&F at Jammu Excelsior Correspondent JAMMU, Oct 7: Khaitan India Ltd today opened its C&F for Jammu and Kashmir State at Ruchi....more OPEC analysing CARACAS, Oct 7: International oil prices have been slowly slipping in the past.....more MUMBAI, Oct 7: Sibar Media Entertainment Ltd (SMEL) belonging to the well-diversified Sibar group .......more Govt undertaking Spices BANGALORE, Oct 7: Spices Trading Corporation Limited, a Government of India....more |
 |
Second UK-India LONDON, Oct 7: The second UK-India round table conference begins here tomorrow to explore possibilities of further enhance bilateral trade and........more Share prices move in NEW DELHI, Oct 7: Growing fears of political uncertainty at the Centre, rising oil prices, unattractive domestic macro-economic numbers and lack of....more |
 |
|
Khaitan India opens C&F at Jammu Excelsior Correspondent JAMMU, Oct 7: Khaitan India Ltd today opened its C&F for Jammu and Kashmir State at Ruchi Sales Corporation Ambphalla. Mr Sunil K Khaitan, vice chairman Khaitan India Ltd inaugurated it at a simple function by cutting the ribbon. The function besides others was attended by the prominent members of business community and Mr Raman Malhota proprietor Ruchi Sales Corporation. The function started with Pooja and burning of traditional lamp. Later talking to Excelsior Mr Sunil K Khaitan said appointment of Ruchi Sales Corporation will help in quick delivery of company products in the state, provide quick service and better cheque clearance facilities for dealers without extra payment by them. He said the Khaitan is the only company dealing in fans which has opened its C&F in Jammu and Kashmir and with its inauguration the customer’s worries in getting the original spare parts will be over. Besides with the opening of C&F the duplicacy in cooler kits will end and customer will get the genuine product which will also be available in cheaper rates than before , he said. Expressing the hope that company’s annual turn over which was till date Rs one crore in J&K will touch Rs three crore now he said Khaitan India which exports its products to 24 foreign countries has an annual turnover of Rs 200 crore and it will likely go up this year as our product has an increasing demand every where. He said Company expects to export 1.5 to two lakh fans this year which will be over 50 percent more than that of last year. He said fan is a consumer necessity and not luxury at present as every house hold needs it. In response to a question regarding his optimism about increase in the sales of Khaitan products he said why our sale will not increase when we provide better services than others. He said the Khaitan India besides fans deals with cooler kits, domestic pumps and room coolers and the main cause of company’s success is that right from inception we did not compromise with quality. He said we have a principle that customer should get proper value for his money and hence we maintain the quality of the product at all cost. Terming the Khaitan is the best fan available in the market at present he said our Company has issued an advertisement that if any body can present us better than Khaitan Marathon in the market we will award him Rs 5000. Regarding the growing demand for Khaitan he said we manufacture products in our own company instead of laying stamps on the product manufactured in other industrial units and despite that our cost is reasonable. He said to boost the sale in J&K after appointment of Ruchi Sales Corporation a dealers meet is being held in the Hotel Ashok late in the evening where the latest Khaitan products including Marathon, Crown sealing fans and Jewel Premium table fans will be displayed. |
|
OPEC analysing international oil prices to boost output CARACAS, Oct 7: International oil prices have been slowly slipping in the past few weeks, while the Organisation of Petroleum Exporting Countries (OPEC) is analysing the situation a week after its summit in Caracas, and deciding whether to boost output once again. In the first week of October, benchmark prices stood slightly below the September average, the highest monthly average reported since January. The Venezuelan Energy Ministry reported that the OPEC spot reference basket averaged 29.09 dollars a barrel this week, down from last month’s 31.63 dollars a barrel. OPEC secretary-general Rilwanu Lukman, meanwhile, said at a conference in London that the organisation was closely following the market. Prices have already begun to drop, but the process takes time, he stated. The Nigerian official said OPEC might decide on new measures at its Nov 12 special ministerial meeting in Vienna. OPEC’s second summit, held here Sept 27-28, underlined the need for a stable market with a price range of 22 to 28 dollars a barrel, described as "fair" by Venezuelan President Hugo Chavez, and backed by US President Bill Clinton. OPEC began to place 800,000 additional barrels a day on the market on Oct 1. And according to the organisation’s president, Venezuelan Oil Minister Ali Rodriguez, the cartel could increase output by another 500,000 barrels a day if prices fail to come down. Prices dropped slightly Thursday, reacting to an announcement by Japan’s big oil companies which, on the Government’s request, plan to place processed domestic fuel on the international market. US benchmark West Texas Intermediate (WTI) fell 95 cents, closing at 30.53 dollars a barrel Thursday, while Northsea Brent closed at 30.00 dollars a barrel, after a 40 cent slide. According to the Venezuelan Energy Ministry, the average price of WTI was 31.39 dollars over the past week — a rise of 0.07 cents with respect to the previous week’s average. Northsea Brent, meanwhile, fetched 29.77 dollars a barrel in the first week of October, 71 cents up from the previous week. Besides OPEC’s additional 800,000 barrels, the market is awaiting the distribution of 30 million barrels that the Clinton administration decided to release from the US strategic reserves of 571 million barrels. OPEC is providing the amount of oil "that we believe the market needs," Lukman said in London. Lukman and Rodriguez reiterated at the second OPEC summit that factors beyond supply and demand, such as speculation on the futures market, high fuel taxes charged by industrialised nations, and bottlenecks in transportation and refining had all contributed to driving up the cost of oil. In the second week of September, WTI rose above the 37 dollar a barrel mark, a level not seen since the 1991 persian Gulf war. Rodriguez said at the time that the laws of supply and demand could not explain such a high price, which he attributed to other factors. (IPS) |
|
|
MUMBAI, Oct 7: Sibar Media Entertainment Ltd (SMEL) belonging to the well-diversified Sibar group from Vijaywawa in Andhra Pradesh involved in software services, medicare, agro and farms, enetertainment and media launched ‘filmkhoj.com’ in Mumbai recently. filmkhoj.com is an exclusive and exhaustive database on Hindi cinema from the era of talkies beginning with Aalam Ara released at Majestic Cinema Mumbai on March 14, 1931 to the current releases encompassing nearly 10,000 films. This vertical portal hosts information on movies, film personalities, profiles, songs, awards and other interesting snippets about people, events and happenings. Optionally, this ocean of information on films can also be accessed by data specific, event specific or personality specific queries as its scientific classification supports such cross references. The portal plans to develop links with other popular portals to popularise the portal among film fans and for the purpose will hold weekly contests related to films on the website. The portal also aims to become a platform for launches of sound tracks, movies within four weeks so that the site provides an entertaning and satisfying multimedia experience to all film lovers. The SMEL has now embarked upon a Rs 10 crore investment to set up a post production studies and produce tv programmes which will be telecast on Zee TV in its ‘Thriller at 10’ and ‘Rishtey’ serial very soon. The company also had plans to produce its own TV serials, multimedia CD-roms and launch a TV channel, music videos, apart from providing editing and animation services as also animation training. (UNI) |
|
Govt undertaking Spices Corp Ltd registers growth BANGALORE, Oct 7: Spices Trading Corporation Limited, a Government of India undertaking, has registered a growth of 44.21 per cent by achieving a sales turnover of Rs 8071.59 lakhs during 1999-2000 as against Rs 5597.07 lakhs in 1998-99. According to a press release here, the corporation has posted a profit before tax of Rs 108.38 lakhs and profit after tax of Rs 63.88 lakhs. The net worth rose from Rs 412.95 lakhs to Rs 460.18 lakhs during the year 1999-2000. Besides trading in spices, the corporation also conducts cardamom auctions in the state of Tamil Nadu, Kerala and Karnataka. The auction sales turnover has registered an increase of 70 per cent by achieving Rs 1562 lakhs turnover in 1999-2000 as against Rs 920 lakhs achieved previous year. The corporation has drawn plans to achieve a sales turnover of Rs 100 crores during the current year by diversifying its product portfolio and earn profits, the release added. (UNI) |
|
Second UK-India round table
to focus on LONDON, Oct 7: The second UK-India round table conference begins here tomorrow to explore possibilities of further enhance bilateral trade and identifying new areas of cooperation. The conference will try to identify ways of enhancing bilateral ties on a wide-ranging areas including economics, education, science and technology, Information Technology, environment and energy, Foreign Secretary Robin Cook said on the eve of the three-day round table. "The ideas, which are being explored further by officials in London and New Delhi, are evidence of the fresh imaginative approach which the round table is bringing to our special friendship," Cook said. The co-chairman of the round table Lord Swaraj Paul said "we are looking forward to the outcome of the deliberations. India and UK, at the moment, have the finest relations and we want to work together to make it even better". During the first conference held in New Delhi in April last, the round table had proposed 19 "ideas", including software as potential area of further enhancing trade ties between the two nations. It was also decided to enhance co-operation in the venture capital field. The Indo-British trade in software is valued currently at 500 million US dollars but has the potential to reach the six billion dollar mark, source said. A high-level Indian delegation, led by Planning Commission Deputy Chairman K C Pant, to take part the meet include TISCO Managing Director J J Irani, vice chairman of Kotak Mahindra Finance Ltd Hemendra Kothari and Ashok Ganguli, ICI chairman. (PTI) |
|
Share prices move in narrow range on DSE NEW DELHI, Oct 7: Growing fears of political uncertainty at the Centre, rising oil prices, unattractive domestic macro-economic numbers and lack of fresh fund buying together took a toll on share prices at the local bourse during the week ended October six. Barring a few front-liner Infotech scrips and select blue chip company shares, most other counters suffered losses for most part of the week. However, the gain in these index-linked stocks helped pull up the Delhi Stock Exchange index to close with small gains. Profit warnings from global it majors like Intel Corp, Apple Computers and Dell Computers have also depressed sentiments in the markets here for Infotech company scrips. The benchmark DSE index (base 1983) closed the week at 850.23 points, up 6.50 points from the previous week’s close og 843.73 points. Old economy stocks also pulled down the sensex. Reliance Petroleum closed lower on account of unwinding of positions, while BHEL was hammered on news that the Government stake would not be divested as it is one of the five public sector units ‘critical’ to the economy. Another stock, which faced bear fury, was ICICI Limited, while ITC limited was the prominent among the gainers. Submission of resignations by Trinamool Congress leaders affected sentiments at the exchange as marketmen feared demergence of political uncertainty at the Centre. The week opened on Tuesday on a slightly buoyant note as traditional blue chip cyclical stocks recovered some ground to finish higher largely on renewed buying by speculators and institutional investors on reports that the Government was planning to partially roll back the hike in petroleum product prices. However, most of the Infotech scrips except a few telecom and media stocks bucked the trend and closed lower on sustained selling by foreign institutional investors. The market remained closed on Monday on account of Gandhi Jayanthi. Remaining in the negative territory in the early trading sessions, shares of it, telecom and media sectors rebounded to wipe off early losses following late buying by foreign institutional investors amidst some short-covering. Domestic financial institutions were also seen making purchases at core sector stocks such as cement, steel and petroleum companies. Shares of oil companies were also in great demand on expectations that the high petroleum prices would help in improving their bottmline in the current fiscal. However, share prices came in for heavy hammering by FIIs and speculators the very next day amidst squaring up of positions ahead of the weekly settlement. Brokers said the market had discounted all positive factors and players who had made sizeable purchases pressed renewed selling towards the fag-end of the session. Amongst old economy stocks, reliance industries, after moving in a narrow range throughout the session in cautious trading, turned weak after bear operators pressed massive sales towards the close of the session. Technology scrips led by Infosys limited, which nearly crashed at one point, staged a significant recovery to close higher in a highly volatile trading on the final day of the week. This was largely due to the re-emergence of buying at prevailing lower levels by some overseas investors followed by massive short-covering by bear operators. Traditional blue chip cyclical stocks too wiped off early losses in tandem and finished with sizeable gains. Brokers said fresh developments on the political front after Trinamool Congress decided to withdraw resignations of its two Ministers from the NDA Government too partially affected sentiments. (UNI) |
|
|
|
