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| Inflation up marginally at 4.32 pc NEW DELHI, Dec 2: Inflation rose marginally to 4.32 per cent during the week ended November 19 from 4.2 per cent in the previous week, despite fall in the prices of essential items and industrial fuel..........more Air Deccan
launches flights NEW DELHI, Dec 2: Air Deccan has announced the launch of direct daily flights from Hyderabad to Nagpur, Pune and Goa from December 10......more Tata
Motors clocks 9.1% MUMBAI, Dec 2: Tata Motors today said the company's sales jumped 9.1 per cent in November with 34,282 vehicles sold during the month compared to 31,428 unit in the same period last year..........more Ranbaxy
ready to supply NEW DELHI, Dec 2: Ranbaxy Laboratories Ltd (RLL) today said it was prepared to provide oseltamivir phosphate capsules (generic version of Tamiflu) to the US healthcare system to ward off threat from avian flu if called upon by Washington or Roche, the innovator. "In terms of available capacity,......more |
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Orient Abrasives enters into MoU with Grindwell Norton MUMBAI, Dec 2: Orient Abrasives Ltd has signed a Memorandum of Understanding with Grindwell Norton Ltd for selling off one of its business segments in Rajasthan........more Irrigation
programme for CHANDIGARH, Dec 2: The Punjab Irrigation Department has announced the rotational programme for irrigation during the rabi season using canal water from December 12 to 14.,........more Varun
Shipping, MUMBAI, Dec 2: Varun Shipping Ltd today said it has been shortlisted for a Rs 3,200 crore contract for time chartering an LNG tanker by Petronet LNG Ltd. The company, along with its consortium partners Exmar Marine NV of Belgium, Tecto NV of Belgium.......more ARCIL
accepts Jai MUMBAI, Dec 2: Nanded-based Jai Corp Ltd today said Asset Reconstruction Co India Ltd has accepted its bid for the purchase of a spinning.........more |
Inflation up marginally at 4.32 pc NEW
DELHI, Dec 2:
Inflation rose marginally to 4.32 per cent during the
week ended November 19 from 4.2 per cent in the previous
week, despite fall in the prices of essential items and
industrial fuel. However, prices of other food items like eggs, poultry chicken, soyabean, beer and alcohol firmed up due to higher demand for these products in the winter. Some manufactured products like textile, chemicals and machinery witnessed surge in prices. Though inflation inched up slightly to 4.32 per cent, it was still lower than 7.23 per cent recorded a year ago as government and Reserve Bank kept a close vigil on prices. Wholesale Price Index declined by 0.3 per cent to 198.1 points from 198.6 a week ago and 189.9 a year ago. The Government revised upward inflation figure to 4.34 per cent for the week ended September 24, from provisional 3.97 per cent, while WPI stood corrected at 197.2 points as against the earlier estimate of 196.5 points. During this fiscal, prices of nine essential items witnessed a sharp rise. Items that witnessed a rise in prices were -- onions at 91.5 per cent followed by fish (28.8 per cent), salt (25.1 per cent), urad (23.9 per cent), gur (23.7 per cent), gram (18.3 per cent), sugar (11.2 per cent), bajra and moong (10.5 per cent each). However, prices of 10 other items like arhar, tea, rapeseed and mustard oil, groundnut oil, vanaspati, chillies, coconut oil kerosene, long cloth dhoti-sarees declined so far this fiscal, according to estimates of Finance Ministry. RBI's monetary stance yielded results as excess liquidity was sucked off and the threat of sudden rise in inflation was eliminated. Inflation based on Consumer Price Index for Industrial Workers (CPI-IW) surged to 4.18 per cent in October from 3.63 per cent in the previous month. World oil prices moderated and hit a 5-month low of 56.14 dollars a barrel during the week. Domestic oil prices remained stable even as oil PSUs slashed ATF prices recently. During the week, Primary Article's group index declined by 0.9 per cent to 198.1 points due to fall in prices of food and non-food items. It was 190.8 points a year ago. Food Article's group was down by 1.1 per cent to 199.5 points owing to lower prices of vegetables (10.4 per cent), masur, tea and fish-marine (two per cent each). However, prices moved up for eggs (seven per cent), ragi and moong (three per cent each), poultry chicken and bajra (two per cent each) and urad, gram, condiments and spices and barley (one per cent each). Non-Food Article's group index declined by 0.5 per cent to 182 points due to lower prices of sunflower (three per cent), cotton seed and raw cotton (two per cent each) and groundnut seed and rape & mustard seed (one per cent each). However, prices rose for gingelly seed (five per cent), mesta (four per cent), raw jute, castor seed and fodder (two per cent) and niger seed and soyabean (one per cent each). One per cent fall in prices of naphtha and furnace oil pushed down the Fuel, Power, Light and Lubricants group index by 0.1 per cent to 312.1 points. But bitumen became costlier by one per cent. The index was 289.7 points a year ago. Manufactured Products group index stood firm at the previous week's level of 172.7 points despite fall in prices of food, wood, non-metallic mineral and metal products. The index was 167.3 points in the previous year period. The index for Food Products' group fell by 0.2 per cent to 178.3 points due to lower prices of gur (seven per cent), coconut oil (four per cent) and groundnut oil, oil cakes and rice bran oil (one per cent each). Six per cent increase in beer and alcohol prices pushed up the Beverages and Tobacco Products group index by 0.1 per cent to 230.2 points. Textiles group index rose by 0.2 per cent to 128.7 points due to costlier hessian & sacking bags (three per cent) and hessian cloth and viscose filament yarn (one per cent each), even as texturised yarn became cheaper by one per cent. A whopping 29 per cent jump in prices of timber planks pushed up the Wood and Wood Products' group index by 15 per cent to 207.9 points. Paper and Paper Products' group index was up by 0.1 per cent to 177.3 points due to higher prices of m.G.Paper poster. Chemicals and Chemical Products group index went up by 0.1 per cent to 190.3 points owing to higher prices of soda ash and organic pigments (three per cent each) and oxygen (one per cent). Non-Metallic Mineral Products group index fell by 0.2 per cent to 168.9 points due to marginal fall in cement prices. Basic Metals Alloys & Metal Products group index was down by 0.4 per cent to 221.7 points as prices fell for narrow cr steel strips (15 per cent), cr sheets (five per cent), basic pig iron and foundary pig iron (three per cent each) and other iron steel, ms bars and rounds and steel sheets, plates and strips (one per cent each). But prices rose for chains (10 per cent), steel furnitures (nine per cent), zinc ingots (three per cent) and lead ingots (one per cent). The index for Machinery and Machine Tools group index was up by 0.1 per cent to 148.8 points due to costlier excavator (three per cent) and boilers, its parts and accessories (two per cent each). (PTI) |
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Air Deccan
launches flights from NEW DELHI, Dec 2: Air Deccan has announced the launch of direct daily flights from Hyderabad to Nagpur, Pune and Goa from December 10. The bookings open today for travel starting December 10 till January 31. ''While it is imperative to connect bigger hubs like Bangalore, Delhi, Mumbai, Hyderabad with each other, it is equally important to connect smaller cities with these hubs,'' said airline's managing director G R Gopinath. ''Low cost air connectivity across the country is a vital ingredient for a successful and steady economy,'' he said. Air Deccan already flies to Nagpur, Pune and Goa but it will be the first time that it connects these cities with Hyderabad. (UNI) |
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Tata Motors clocks 9.1% growth in vehicle sales MUMBAI, Dec 2: Tata Motors today said the company's sales jumped 9.1 per cent in November with 34,282 vehicles sold during the month compared to 31,428 unit in the same period last year. The cumulative sales of the company at 2.7 lakh units was growing by 9.5 per cent, a company release said here. The sales of commercial vehicles in domestic market for November this year showed an increase of 12.2 per cent at 17,694 vehicles, against 15,774 vehicles sold in the same period last year, it said. Cumulative sales of commercial vehicles in the domestic market for the fiscal stood at 1,24,739 units. The passenger vehicle segment, however, grew by 0.3 per cent with sales of 13,126 vehicles in the domestic market this November while the cumulative sales in the domestic market for the fiscal stood at 1.14 lakh units. The exports, on the other hand, showed an increase of 35 per cent with 3,462 vehicles sold in November as compared to 2,565 units sold a year ago. The cumulative sales from exports has recorded a growth of 103.2 per cent at 31,374 units, the release said. (PTI) |
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Ranbaxy ready to supply generic Tamiflu to US NEW DELHI, Dec 2: Ranbaxy Laboratories Ltd (RLL) today said it was prepared to provide oseltamivir phosphate capsules (generic version of Tamiflu) to the US healthcare system to ward off threat from avian flu if called upon by Washington or Roche, the innovator. "In terms of available capacity, within six months, we anticipate being able to produce 22 Tons Per Annum (TPA) of the Active Pharmaceutical Ingredient (API) based on the Ranbaxy's API process," Ranbaxy CEO and Managing Director Brian Tempest said in a satement. He said within 12 months, the company expected to scale up operations to produce a total of 100 TPA. "The 22 TPA translates to a total of approximately 300 Million 75 mg capsules, and within a year to a total of 1.3 Billion 75 mg capsules. The API would be manufactured in the Ranbaxy's FDA compliant facilities in India, and the capsules could be manufactured at its US facilities," Tempest added. He said it was estimated that within the first six months approximately 20 million patients could receive a course of treatment, and within the first year in excess of 100 million patients could be managed for the Avian flu. On the shortage of raw material for the drug, Tempset said the starting material (Shikimic acid) was critical to the entire process and "all efforts will be made to secure the required quantities from a variety of independent sources." "The company will make all efforts to work with the USFDA to secure approvals to manufacture the API as well as capsules within the company's facilities in order to reach the projected goals as may be indicated by the US Government," he added. (PTI) |
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Orient Abrasives enters into MoU with Grindwell Norton MUMBAI, Dec 2: Orient Abrasives Ltd has signed a Memorandum of Understanding with Grindwell Norton Ltd for selling off one of its business segments in Rajasthan. The company informed the Bombay Stock Exchange that it had entered into an MoU with the Mumbai-based Grindwell Norton Ltd, which manufactures industrial ceramics, to sell its bonded abrasives division at Bhiwadi, Rajasthan. The proposal is subject to necessary approvals, it said. Orient Abrasives Ltd manufactures bauxite based alumina synthetic raw materials. (PTI) |
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Irrigation programme for rabi season announced CHANDIGARH, Dec 2: The Punjab Irrigation Department has announced the rotational programme for irrigation during the rabi season using canal water from December 12 to 14. The channels of Sirhind canal system would run on priority basis from Bathinda branch, Bist Doab canal, Sidhwan branch, Abohar branch and Patiala feeder respectively. Disclosing this here today, a department spokesman said that direct distributaries of Bhakra Main Line, being in the first preference would run to their indent. Balance water supplies would be utilised in Ghaggar link and its off taking channels -- Ghaggar Branch and Patiala Minor respectively. The spokesman said that the Punjab channels off taking from Harika and Ferozepur Head Works and Branches. All the direct distributaries of Sirhind Feeder in-group 'A' being in the first preference would run to their indent. Balance water supplies would be utilised in Abohar Branch off taking from Sirhind Feeder and its distributaries/minors in-group 'B'. The spokesman also said that the channels off taking from upper Bari Doab Canal i.E. Kasur Branch Lower with its distributaries being in first preference would run to their indent. Balance Surplus water available would be utilised in Sabraon Branch, Lahore Branch, Main Branch Lower and with its distributaries. (PTI) |
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Varun Shipping, partners
shortlisted MUMBAI, Dec 2: Varun Shipping Ltd today said it has been shortlisted for a Rs 3,200 crore contract for time chartering an LNG tanker by Petronet LNG Ltd. The company, along with its consortium partners Exmar Marine NV of Belgium, Tecto NV of Belgium and Indian Oil Corporation Ltd, has been shortlisted for the contract for time chartering an LNG tanker for 25 years, it informed the stock exchanges. A new joint venture company would be established for owning and operating the LNG tanker by the consortium partners. The LNG tanker would be built at Korea's Daewoo Shipbuilding and Marine Engineering Co, it said. Entering into the transportation of LNG is a major step forward for the company as LNG is expected to be the fuel of the future. The demand for import of LNG is expected to grow exponentially in coming years, it added. (PTI) |
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ARCIL accepts Jai Corp's Rs
19.25 cr MUMBAI, Dec 2: Nanded-based Jai Corp Ltd today said Asset Reconstruction Co India Ltd has accepted its bid for the purchase of a spinning unit at Silvassa for Rs 19.25 crore. Asset Reconstruction Co accepted the company's bid for the purchase of immovable and movable assets of the spinning unit, Jai Corp informed the Bombay Stock Exchange. (PTI) Tata Motors sales up by 9.1 pc
in Nov'05, MUMBAI, Dec 2: Tata Motors reported total sales of 34,282 vehicles (including exports) for the month of November this year as compared to 31,428 vehicles sold in November last year, a growth of 9.1 per cent. However, the company's exports grew by huge 35 per cent to 3,462 vehicles in November this year, as compared to 2,565 vehicles in the same period last year. The passenger vehicle business, however, did not improve much in November. The company reported total sales of 13,126 vehicles in the domestic market in November this year, an increase of just 0.3 per cent. The Indica sold 8,253 units, while mid-car model Indigo registered sales of 2,434 units. The Sumo and Safari accounted for sales of 2,439 units. Cumulative sales of the company were at 2,70,586, a rise by 9.6 per cent. The company's sales of commercial vehicles in Novemebr in the domestic market were 17,694 units as agaist 15,774 units vehicles sold in the same period last year, an increase of 12.2 per cent. Heavy commercial vehicles (HCV) sales stood at 10,973 units, while light commercial vehicles (LCV) sales were 6,721 units. Cumulative sales of commercial vehicles in the domestic market for this fiscal were 1,24,739 vehicles. (UNI) BANMGALORE, Dec 2: Riding high on the construction boom in the country, Telco Construction Equipment Company (Telcon) is planning to invest over Rs 200 crore in Research and Development over the next four years. Depending mostly on the R and D efforts of its joint venture partner Hitachi, Telcon was moving to enhance its R and D efforts and go in for reverse brain drain by offering its indigenously developed products to Hitachi plants across the country. Telcon Managing Director Ranveer Sinha told newspersons here last night that the company, growing at a rate of 35 per cent ahead of the industry, was planning to capture new markets by strengthening its overseas presence. It was also exporting components to a little extent. With an output of over 5,000 machines from its two manufacturing plants in Dharwad and Jamshedpur, Telcon had a turnover of Rs 930 crore last year and a 60 per cent share in the excavator market. It aimed at enhancing its market share with the introduction of a new series of excavators -- Zaxis. It had microprocessor controls and information technology that bring about unmatched benefits to the user. (UNI) Genpact bags outsourcing
agreement NEW DELHI, Dec 2: Genpact, formerly known as GE Capital, today announced that it has bagged an outsourcing agreement with US-based Wachovia Corporation, providers of financial services to provide Wachovia access, to Genpact's global operations. Under the seven-year agreement, Genpact will establish an offshore operation, initially located in India, to support Wachovia's business process outsourcing efforts. Wachovia will also be able to access the company's base of six sigma black belts, trained to drive year-over-year cost, quality and productivity improvements in banking and finance processes, a company release said. Both, Genpact and Wachovia will invest in dedicated resources and facilities at Genpact over a period of time, it added. "We are pleased to partner with Genpact, which has a proven track record in business process improvement. We believe that establishing a presence in India with Genpact will improve productivity for our company and enable us to explore overseas growth opportunities," Wachovia's Corporate Development and Strategic initiatives Peter Sidebottom said in the release. (PTI) ISG Novasoft enters into an alliance with SAP India CHENNAI, Dec 2: Chennai-based ISG Novasoft (ISGN), a global enterprise application management and outsource product development company, has entered into a strategic alliance with SAP India to leverage the capabilities of SAP netweaver, mySAP, ERP and Mysap business in its focus areas of continuous manufacturing companies in large and mid markets. With this partnership, ISGN, will intensify its presence in the Indian market and further strengthen its position in the above mentioned industry segments, a company release said. Quoting the CEO of ISGN, Krishna Srinivasan, the release said 'this partnership will further enhance ISGN's unique positioning in the indusry as a service provider with deep domain expertise.' (PTI) |
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