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Oilseed production NEW DELHI, Dec 4: The area coverage of oilseed production has declined this year compared to last year, Lok Sabha was .........more Centre
mulls taking NEW DELHI, Dec 4: In a bid to improve and upgrade their facilities, the Centre is considering a proposal to take over some ESI hospitals in different .......more Black pepper, jeera down on sluggish demand NEW DELHI, Dec 4: In limited deal, prices of black pepper common and jeera quoted lower in the wholesale kirana market today on ......more Almond,
dry dates NEW DELHI, Dec 4: In restricted activity, prices of almond california and dry dates drifted in the wholesale dry fruits market today due to reduced demand and closed with fresh losses.Marketmen said fall in demand against .........more |
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Prices remain flat at steel market NEW DELHI, Dec 4: Steady conditions prevailed in the wholesale steel and iron market today with prices after moving in a tight range on little doing, ........more NEW DELHI, Dec 4: In thin trade, urad and its dal prices declined in the wholesale pulses market today on stockists ......more Rajesh Exports forges joint venture with US' Fossil Inc BANGALORE,Dec 4: Gold jewellery manufacturer, Rajesh Exports Limited has forged a joint venture with fashion watches ......more Gur
remains quiet NEW DELHI, Dec 4: Steady conditions developed on the wholesale gur (jaggery) market today with prices by and large after moving in a tight range on some deals, settled around previous levels. Marketmen said negligible enquiries from traders ...........more |
Oilseed production area coverage declines: Minister NEW DELHI, Dec 4: The area coverage of oilseed production has declined this year compared to last year, Lok Sabha was informed today. "This is due to shifting of some oilseeds area to pulse crops on account of less moisture availability in some states," Agriculture Minister Sharad Pawar said during question hour. He, however, said the sowing of rabi oilseeds was in momentum and coverage of more area was being envisaged. As per the advance estimates for kharif crops in 2006-07, area coverage of oilseeds was around 15.74 million hectares compared to 16.79 million in 2005-06. Similarly, the rabi crop area coverage for oilseeds stood at 7.48 million hectares as against 8.16 million last year. However, the area coverage for pulses increased this year from 17.51 million hectares last year to 18.40 million. "The total area covered under pulses in 2006-07 is already more than that in 2005-06 by about nine lakh hectares," Pawar said. (PTI) |
Centre mulls taking over ESI hospitals NEW DELHI, Dec 4: In a bid to improve and upgrade their facilities, the Centre is considering a proposal to take over some ESI hospitals in different states provided the State Governments agree with this, Lok Sabha was informed today. "The State Governments have to agree to the proposal to hand over these hospitals to the Centre," Minister of State for Rural Development Chandrashekhkar Sahu said during question hour. He said 123 ESI hospitals were being run by State Governments, while the ESI corporation ran 17 model hospitals, three in Delhi and one in Chandigarh. The ESIC has hiked the ceiling for provision of medical care from Rs 750 to Rs 900 per insured person family unit per annum, he said as questions were raised by members on the lack of modern and specialised facilities in these hospitals. Sahu was replying to question relating to the Labour Ministry due to the absence of Labour and Employment Minister Oscar Fernandes who is abroad to attend a conference. To another question, Sahu said there was no proposal to set up Central Government Industrial Tribunals (CGITs) during the tenth plan period though five have already been established in addition to 17 existing ones in the country. In its bid to expedite settlement of industrial disputes, government has also created a new scheme for dispute adjudication through Lok Adalats as an alternative grievance redressal mechanism, he added. (PTI) |
Black pepper, jeera down on sluggish demand NEW DELHI, Dec 4: In limited deal, prices of black pepper common and jeera quoted lower in the wholesale kirana market today on lack of buying support from retailers and stockists and closed with fresh losses. Elsewhere, prices of other spices remained steady in limited deals. Marketmen said lack of necessary buying interest coupled with fresh arrivals mainly brought down black pepper and jeera prices. Black pepper common moved down by Rs 100 to conclude at Rs 9,600-9,800 per quintal on poor demand from exporters. Jeera common and jeera dollar prices also receded Rs 8100-8400 and Rs 8300-8400 from Rs 8200-8500 and Rs 8400-8500 per quintal in view of lack of buying support from retailers and stockists. Following were today's quotations (in quintal): Ajwain 4,000-6,200 Black pepper common 9,700-9,900 Betelnut (kg) 87-110, cardamom brown (Jhundiwali) 16,000-16,200 and cardamom brown (Kanchicut) 17,500-19,500. Cardamom small (kg): Chitridar 140-210, cardamom (colour robin) 215-225, cardamom bold 230-250, cardamom extra (bold) 345-370 and cloves (kg) 290-335. (PTI) |
Almond, dry dates down on poor offtake NEW DELHI, Dec 4: In restricted activity, prices of almond california and dry dates drifted in the wholesale dry fruits market today due to reduced demand and closed with fresh losses. Marketmen said fall in demand against increased arrivals mainly pulled down almond california and dry dates prices. Almond california fell by Rs 100 to finish at Rs 10,800 per 40 kilo and its kernel also drifted to Rs 380-385 from previous mark of Rs 385-387 per kilo. Dry dates also traded lower at Rs 2000-4700 against previous mark of Rs 2100-4800 per quintal on reduced offtake. Following were today's quotations per 40 kgs bag: Almond (California)new 10,800, Almond (gurbandi) 6,000 Almond (girdhi) 3,800, Almond kernel (california) 380-385, Almond kernel (gurbandi) (kg) 400-430 and Abjosh Afghani 7,000-13,000 (PTI) |
Prices remain flat at steel market NEW DELHI, Dec 4: Steady conditions prevailed in the wholesale steel and iron market today with prices after moving in a tight range on little doing, settled around previous closing. Arrivals and offtake remained restricted with the result volume of business also declined. Following were today's quotations per tonne: CTD saria (kamdhenu) 8-mm, 28,200, 10-mm, 27,700, 12-mm 27,150, 16-20 mm 27,550 and 25-mm Rs 27,650. Rathi tor steel : 8-mm 27,800, 10-mm 27,100, 12-mm 26,350, 16-20 mm 26,900 and 25-32 mm 27,000. Saria Jai bharat (iso 9002) 8-mm 28,100, 10 mm 27,700 12-mm 26,800, 16 to 25 mm 27,500-27,600. Amba saria (iso-9002) 8-mm 27,200, 10-mm 26,800, 12-mm 26,200, 16-20-mm 26,600, 25-mm 26,700. Amba shakti: (TMT) 8mm 27,800, 10 mm 27,100, 12 mm 26,400, 16 to 25 mm 26,700-26,800. M S Angle: (50x5) (50x6) 25,300, (25x3) (32x3) (40x3) 26,300, (40x5) (40x60) 25,400. Angle capital (ISI) (50X5) (50X6) 25,600, (40X5) (40x6) 25,700, (35X5) (65X6) 25,600-25,700. Girder (joist) (150x75) 26,200 (175x85) 26,400 (200x100) 26,500 (125x70) 26,800. T-IRON (40X5) (40X6)(50X6) 25,800. Ingot and Scrap: Mill heavy 16,500-16,700 Turning boring 15,250-15,350, Cast Iron 16,400-16,500, Motor parts 13,300-13,400, Rail re-rolling 15,200-15,300 and ingot Bhivari 21,500. (PTI) |
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NEW DELHI, Dec 4: In thin trade, urad and its dal prices declined in the wholesale pulses market today on stockists selling in the face of sluggish demand from retailers and ended moderately lower. Elsewhere, other commodities continued to be traded flat on little doing. Marketmen said increased arrivals from producing centres and considerable fall in demand from local parties, led to a fall in urad prices. Urad Maharashtra and Rangoon traded lower at Rs 3,175-3,400 and Rs 3,175-3,200 per quintal respectively against last close of Rs 3,200-3,420 and Rs 3,200-3,225. Its dal, urad chilka and best lean from Rs.4,600-4,700 and Rs.4,900-5,100 to finish at Rs.4,575-4,675 and Rs.4875-5075 a quintal respectively. Urad dhoya local and best quality also fashioned in similarly and quoted lower at Rs.4,975-5,175 and Rs.5,675-5,975 a quintal respectively. Following were today's quotations (in quintal): Urad Maharashtra 3175-3400, Rangoon 3175-3200 Urad chilka (local) 4575-4675, best 4875-5075, dhoya local 4975-5175, best 5675-5975, Moong Maharashtra 2475-2525,Moong (old) 1800-1925, UP\Bihar 2800-3025, Rajasthan 3200-3300,dal moong chilka 4000-4200, best 4450-4700, moong dhoya local 4300-4400, best quality 4600-4900, masoor small 2400-2600, bold 1800-1850, dal masoor local 2250-2350, best quality 2450-2550, Malka local 2250-2350, best 2450-2650, Moth 2800-2900, Moth dagi 750-2775, best 2650-2700, dal moth 3100-3250, Arhar Maharashtra 1900-1975, (Karnataka) 1900-1975, Rangoon 1825-1830, dal arhar dara 2850-2950 and patka 3050-3100. Gram 2870-2880, gram dal (local) 3140-3190, best quality 3400-3450, besin (35 kg) shakti bhog 1430, rajdhani 1430, Rajmah chitra Pune 3600-4150, China 3800-3900, red 3100-3200, kabli gram small 2950-3000, dabra 2780-2980, imported 4600-4700, lobia 3200-3350, peas white 1500-1510 and green 1550-1575. (PTI) |
Rajesh Exports forges joint venture with US' Fossil Inc BANGALORE,Dec 4: Gold jewellery manufacturer, Rajesh Exports Limited has forged a joint venture with fashion watches and accessories major Fossil Inc, to manufacture and market an array of brands in India and to jointly develop jewellery lines for the international market. REL and the NASDAQ-listed firm are together putting in an initial investment of Rs 25 crore in the 50:50 joint venture, Fossil India Limited, REL Chairman Rajesh Mehta told a press conference here along with Senior Vice-President, Fossil Asia Pacific Mark Parker. Parker said USD 1.04 billion Fossil, whose watch brands include Fossil, DKNY, Diesel, Emporio Armani, Zodiac, Adidas and Michele, would set up a manufacturing facility in India, adding, it would also source jewellery from REL. US-headquartered Fossil, which has presence in 90 countries, has also acquired the Oyzterbay brand from REL; cost of the acquisition was not disclosed. Mehta said the joint venture is expected to commence exports from the first quarter of the next financial year, and looking at sales of USD 100 million in 12 months. REL retail stores would sell Fossil products, he said. "Fossil's vast worldwide sales and distribution network will be tapped for supply of jewellery, and Fossil's experience in building world class brands will be tapped for retailing in India," Mehta said. Vasant Nangia, who had held key positions in Titan, Tanishq and Oyzterbay, has been appointed Managing Director of the joint venture company. Parker said Fossil has targeted to triple sales in Asia to reach USD one billion by 2012 with India playing a major role. (PTI) |
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Gur remains quiet in thin trade NEW DELHI, Dec 4: Steady conditions developed on the wholesale gur (jaggery) market today with prices by and large after moving in a tight range on some deals, settled around previous levels. Marketmen said negligible enquiries from traders due to paucity of funds mainly kept prices unchanged. A similar trend also persisted at Muzzafar Nagar and Murad Nagar markets, they said. Following were today's quotations: Chakku 1275-1325, Pedi 1250-1300 and Dhayya 1325-1375 Shakkar 1350-1400 and Khandsari 1850-1950. In Muzzafar Nagar: Raskat 925-975, chakku 1150-1225 and Khurpa new 1100-1125. In Murad Nagar: Pedi 1150-1175, Dhayya 1150-1225. (PTI) |
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NEW DELHI, Dec 4: Sugar prices continued to decline on wholesale sugar market today following increased supplies against reduced offtake and closed losses. Marketmen said increased stockists following increased supplies and reduced demand from bulk consumers mainly pulled down select sugar prices. At wholesale market, sugar ready medium and second grade drifted to Rs.1730-1820 and Rs.1720-1810 a quintal respectively. Mill delivery medium and second grade prices also eased to finish at Rs.1580-1690 and Rs.1570-1680 a quintal respectively. Among mill gate section, sugar Mawana dropped by Rs.10 at Rs.1670 and Khatauli traded lower at Rs.1675 a quintal respectively. Simbhawali, Khatauli, Titabi and Modi nagar also shed to settle at Rs.1675, Rs.1675, Rs.1680 and Rs.1680 a quintal respectively. Following were today quotations in rs. Per quintal. Sugar ready M-30 1720-1830 and S-30 1720-1810. Mill delivery M-30 1580-1690 and S-30 1570-1680. Sugar mill gate prices (excluding duty): Modi Nagar 1680, Bagpat 1660, Daurala 1670, Chandpur 1630, Titabi 1680, Mawana 1670, Simbhawali 1675, Khatauli 1675, Badaiu 1645, Sattha 1640, Ruderavilash 1650, Bijnor 1630 and Amroha 1620 and samali Rs 1770. (PTI) |
Precious metals remain firm on back of overseas trend NEW DELHI, Dec 4: Both the precious metals, silver and gold, continued to rise on the bullion market today on sustained buying by stockists, sparked by firm overseas trend. Buying activity further fuelled on emergence of retail buying for the coming festival season, beginning tomorrow. Silver was distinctly firm and moved about 20,000 points level, last seen on April 18, on aggressive buying by industrial units and stockists. Marketmen said the gold prices gained in international markets, which normally sets up price here, as crude oil traded near a two-month high, stoking concern over rising raw material prices and prompting investors to buy the precious metal as a hedge against inflation. They said the gold gained 2.63 dollar, or 0.4 per cent, to 648.22 dollar an ounce, and likely to set new records. Standard gold and ornaments rose further by Rs 10 each at Rs.9460 and Rs.9310 per 10 gram respectively. Sovereign was unchanged at Rs 7750 per piece of eight gram. Silver ready was higher by Rs.50 at Rs.20,350 per kilo and weekly-based delivery by Rs.120 at Rs.21,050 per kilo. Silver coins also rose by Rs.100 at Rs.23,800 for buying and Rs 23,900 for selling of 100 pieces. (PTI) SC notice to Centre, Harayana, UP, Rajasthan on SEZ NEW DELHI, Dec 4: The Supreme Court today issued notices to the Centre and three states on a PIL challenging the constitutional validity of the law providing establishment of Special Economic Zones in National Capital Region. Besides the Centre, the apex court issued notices to the governments of Haryana, Uttar Pradesh and Rajasthan. (PTI) |
CSN unwary of past M&A failures; due diligence for Corus on NEW DELHI, Dec 4: Brazilian steelmaker CSN, which is in the race to acquire Corus Group Plc along with Tata Steel, is not new in the global M&A space -- it has held merger talks in past with Germany's Thyssen-Krupp and Luxembourg-based Arcelor, besides its current Anglo-Dutch target. While CSN's all previous attempts to find a suitable partner have been unfruitful, the company does not expect the ghosts from the past to spook away the chances in its latest attempt to acquire the London-based steel giant. "CSN is moving ahead with its due diligence process for its proposed bid for Corus as quickly as possible and talks are going on with the pension trustees of the target company," a senior official close to the development told PTI from Rio de Janerio, Brazil. The Brazilian company had held merger talks with Thyssen-Krupp about five years ago in 2001, but talks failed due to various strategic disagreements between the two sides. The rationale behind the proposed merger was to make a world-wide combination of assets strategically based on iron ore, railways and ports, the official said. In another bid to expand its presence in the global steel space, CSN had discussions with Arcelor earlier this year, when the European major was looking for alternatives in its bid to thwart off a hostile takeover bid from Mittal Steel. Besides, CSN had held unsuccessful merger talks about four years ago with its current target Corus. However, a company official said today failure in the previous merger talks would not have any impact on its proposed acquisition of Corus, for which the Latin American company is yet to come out with a formal bid. Sources close to CSN said one of the major reasons behind the merger proposal with Thyssen-Krupp was to combine the German company's iron ore mine in Brazil - Ferteco - with its own Casa de Pedra. Unexpectedly, Thyssen-Krupp sold their stake in Ferteco to CVRD, making it difficult to continue with the merger plan, they added. At that time CSN and CVRD were considered to be fierce rivals in the Brazilian iron ore space. While announcing its intended bid for Corus, CSN had said earlier last month there was compelling strategic and industrial logic for a combination with Corus. "It would enable Corus to secure supply of high quality, low cost iron ore from CSN's Casa de Pedra mine," the Brazilian company had said in its offer. Meanwhile, London's Financial Times newspaper today quoted CSN as saying it had pursued a merger with the German company to maximise the value of their assets. Despite having reached an advanced stage, talks came to nothing -- and so were the discussions with Arcelor few years later which were on a relatively early stage, FT said. In its latest effort, CSN has made an offer of 475 pence per share in cash, higher than the 455 pence recommended bid from Tata Steel. Although, Tata Steel's offer was recommended by Corus board, the shareholders are yet to vote on the bid. Corus has postponed a meeting of its shareholders, previously scheduled for today, till December 20 in order to give more time to CSN to come out with a formal bid. CSN officials said they were working fast on the pre-conditions to the offer, but the timing of an offer could not be predicted. (PTI) |
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