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| Karur KCP bags Rs 7.38 cr export
order MUMBAI, Nov 28: Karur KCP Packagings Ltd today said it has bagged Rs 7.38 crore (1.65 million dollars) additional export orders from Europe and US .........more Sharp fall in Instanex Skindia DR Index MUMBAI, Nov 28: The Instanex Skindia DR Index dropped sharply by 43.23 points or 1.88 per cent to 2,260.66 on November 27 and the Dr Index P/E Ratio also declined to 26.39 from 26.92 .......more Torrent Power re-lists at Rs 60 on BSE MUMBAI, Nov 28: Torrent Power Limited was today re-listed at Rs 60 on the Bombay Stock Exchange after completion of its merger process........more Exports up 19 pc in Oct to 69.52 bn dollars NEW DELHI, Nov 28: India’s exports rose 19 per cent in October this year to 9.62 billion dollars, taking the total exports so far this fiscal to 69.52 billion dollars.. ........more |
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Pondy Oxides to issue bonus shares
in 1:10 ratio MUMBAI, Nov 28: Pondy Oxides & Chemicals Ltd today said it will issue bonus shares in the ratio of 1:10 to the shareholders..........more TCS targets 4 bn dlr revenue during current fiscal: CEO NEW DELHI, Nov 28: Software services provider, Tata Consultancy Services, is aiming to achieve four billion dollars in revenue by the end of fiscal 2007, growing at 30 per cent, its CEO and MD S ...........more India-Pak trade can cross six billion dollars:ICRIER NEW DELHI, Nov 28: Trade between India and Pakistan can increase to a phenomenal level of 6.6 billion dollars if barriers are removed and the neighbouring ......more Atlanta allots Rs 85-cr pref warrants to promoters, investors MUMBAI, Nov 28: Leading infrastructure development and construction firm Atlanta Ltd today said it will allot up ..........more |
Karur KCP bags Rs 7.38 cr export order MUMBAI, Nov 28: Karur KCP Packagings Ltd today said it has bagged Rs 7.38 crore (1.65 million dollars) additional export orders from Europe and US based clients. The export order would be supplied by the end of January 2007, Karur KCP informed the Bombay Stock Exchange. Earlier in May, the company had received Rs 13.99 crore order from India Cements Ltd, Madras Cements Ltd, Dalmia Cements (Bharat) Ltd, Chettinad Cements Ltd, Ultratech Cement Ltd, Associated Cement Companies Ltd (ACC). The shares of the company were trading at Rs 63.90, up 0.08 per cent on the BSE. (PTI) |
Sharp fall in Instanex Skindia DR Index MUMBAI, Nov 28: The Instanex Skindia DR Index dropped sharply by 43.23 points or 1.88 per cent to 2,260.66 on November 27 and the Dr Index P/E Ratio also declined to 26.39 from 26.92 previously, Instanex Instanex Capital release said here today. Following are the GDR and ADR rates for Nov 27 in US dollars with differences in percentage from the previous level given in brackets. Bajaj Auto (GDR) 59.40 (+1.54) Dr Reddy (ADR) 15.96 (-3.91) HDFC Bank (ADR) 73.57 (-2.21) Hindalco (GDR) 3.93 (UNCH) ICICI Bank (ADR) 38.14 (-2.95) Infosys Tech (ADR) 51.47 (-3.90) ITC (GDR) 4.10 (UNCH) L&T (GDR) 30.80 (UNCH) MTNL (ADR) 5.90 (-4.53) Ranbaxy Labs (GDR) 8.55 (UNCH) Reliance (GDR) 56.70 (UNCH) Satyam Comp (ADR) 22.93 (-3.53) SBI (GDR) 71.00 (+0.71) VSNL (ADR) 19.17 (-0.67) Wipro (ADR) 15.22 (-2.19)(PTI) |
Torrent Power re-lists at Rs 60 on BSE MUMBAI, Nov 28: Torrent Power Limited was today re-listed at Rs 60 on the Bombay Stock Exchange after completion of its merger process. The scheme of arrangement entailing the merger of three companies was approved by the Ahmedabad High Court on July 12, this year. The scheme of arrangement includes the amalgamation, between Torrent Power AEC Limited (TPAL), Torrent Power SEC Limited (TPSL), Torrent Power Generation Limited (TPGL) and Torrent Power Limited (TPL). As per the arrangement, the entire undertakings of TPSL, TPAL and TPGL were transferred to TPL on a going concern basis. Consequent to this arrangement TPL allotted 22 equity shares of Rs 10 each fully paid-up for every one equity share of the same value held in TPAL. TPL allotted 47 equity shares of Rs 10 each fully paid-up for every one equity share of the same value held in TPSL. One equity share of Rs 10 each fully paid-up was also allotted by TPL for every one equity share of the same value held in TPGL. Accordingly, TPL has allotted 188.97 crore equity shares of Rs 10 each fully paid up pursuant to the scheme. (PTI) |
Exports up 19 pc in Oct to 69.52 bn dollars NEW DELHI, Nov 28: India’s exports rose 19 per cent in October this year to 9.62 billion dollars, taking the total exports so far this fiscal to 69.52 billion dollars. Imports grew at 39.25 per cent to 15.82 billion dollars during the month, according to provisional official data released today. Cumulative imports during April-October 2006 grew 32.95 per cent at 99.75 billion dollars. (PTI) |
Pondy Oxides to issue bonus shares in 1:10 ratio MUMBAI, Nov 28: Pondy Oxides & Chemicals Ltd today said it will issue bonus shares in the ratio of 1:10 to the shareholders. The board of directors of the company at its meeting today approved to issue one bonus share for every 10 equity shares held by the shareholders, Pondy Oxides informed the Bombay Stock Exchange. The issue of bonus shares would be subject to shareholders approval in their Extraordinary General Meeting to be held on December 28. (PTI) |
TCS targets 4 bn dlr revenue during current fiscal: CEO NEW DELHI, Nov 28: Software services provider, Tata Consultancy Services, is aiming to achieve four billion dollars in revenue by the end of fiscal 2007, growing at 30 per cent, its CEO and MD S Ramadorai said today. "We have a target to achieve 4 billion dollars in revenue by the end of this fiscal growing at 30 per cent and for the last five years we have been growing at a Compounded Annual Growth Rate (CAGR) of over 30 per cent," TCS Managing Director and CEO S Ramadorai said on the sidelines of a Nasscom Conference. He said the target of reaching 10 billion dollars in revenue by 2010, is very much achievable. The shares of the company were trading at Rs 1144, down 1.19 per cent on the Bombay Stock Exchange. (PTI) |
India-Pak trade can cross six billion dollars:ICRIER NEW DELHI, Nov 28: Trade between India and Pakistan can increase to a phenomenal level of 6.6 billion dollars if barriers are removed and the neighbouring country implements the South Asia Free Trade Area (SAFTA) agreement, an ICRIER report has said. India’s exports increased by 157 per cent to 428.1 million dollars and imports by 143 per cent to 82.1 million dollars in the first quarter of 2006-07 as against the corresponding period last year, according to official figures. "Trade between the two nations is very small as compared to trade between India and its other large partners in south Asia," Indian Council for Research on International Economic Relations said in a report on `India-Pakistan trade’. On the other hand, informal trade through a third country is estimated to be in the range of two billion dollars, the report said. "With several regions integrating further through the Free Trade Agreements (FTAs), it is imperative for the south Asian countries to enhance the pace of their liberalisation," it added. In a larger context, south Asia is the least integrated region compared to other regions, namely east Asia, Europe and central Asia, Latin America, Middle East, North Africa and sub-Sahara Africa. Regional liberalisation within Asia indicates that SAFTA would ultimately lead to integration with a larger community within the continent through bimstec and ASEAN, the paper said. However, success of SAFTA in turn would depend on trade relations between India and Pakistan. The ‘positive list’ approach followed by Pakistan to allow Indian imports is a key factor constraining growth in trade. The approach in its present form inhibits trade, lacks transparency and leads to high transaction costs, the paper said. "India and Pakistan need to conduct trade with each other on a Most Favoured Nation (MFN) basis. It is important for the two countries to have a common harmonised system of codes and greater transparency," it said. Opening up new rail and road routes would also be instrumental in increasing trade. "The positive list approach needs to be abandoned to allow goods to move freely on the direct routes thereby lowering transaction costs," the paper said. Measures such as simplifying border procedures and introduction of Electronic Data Interchange (EDI) should be introduced at the land borders. By amending the shipping protocol, third country and non-national flagships would be able to ply on the Mumbai-Dubai sea route, thereby lowering shipping costs, it said. With several Indian companies interested in forming joint ventures in Pakistan, Governments of the two nations need to put an institutional mechanism in place that would guarantee protection to investments and provide timely facilitation. Sectors identified for both export and import are textiles, agriculture, engineering, chemicals,pharmaceuticals, electronics, metals and minerals, rubber and plastic. In addition, there is scope for trade in several services such as health, entertainment, IT, energy and tourism. Investment possibilities in Pakistan exist in sectors such as fish processing, chemicals and pharmaceuticals, automobile components and information technology. Currently, the payments system is formalised through the asian clearing union, which is inefficient as payments are often delayed. "The two countries need to have an institutional arrangement so that the state, private and foreign banks can participate freely in trade transactions," the paper said. Besides, visa restrictions should be eased by eliminating city specific entry and police reporting on arrival. Uninterrupted telecommunication links would facilitate trade, the report said. (PTI) |
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Atlanta allots Rs 85-cr pref warrants to promoters, investors MUMBAI, Nov 28: Leading infrastructure development and construction firm Atlanta Ltd today said it will allot up to 27 lakh warrants worth Rs 85.32 crore on preferential basis to the promoter group, domestic and foreign investors. In a communique to the Bombay Stock Exchange, Atlanta Ltd said that at the Extra Ordinary General Meeting (EGM) held recently, shareholders of the firm have given their nod to allot 27 lakh warrants out of which 18 lakh warrants will be allotted to the promoter group and the balance 9 lakh warrants to domestic and foreign investors as well as corporate bodies on preferential basis. The preferential warrants would be convertible into 27 lakh equity shares of Rs 10 each, at a price of Rs 316 per share (Rs 306 premium per share). The shareholders have also given their go-ahead to a proposal to increase the authorised share capital of Atlanta, it added. (PTI) |
Peerless group to foray into medical services training KOLKATA, Nov 28: The Peerless Group will foray into medical services education and allied courses and set up a dedicated campus to conduct such programmes. The company would offer these courses in association West Bengal University of Health Science(WBUHS), West Bengal University of Technology(WBUT) and Netaji Subhas Open University (NSOU). ''A two-year master's degree on Hospital Administration will be introduced on November 30,''Peerless Hospital managing Director S K basu told UNI today. The course is affiliated to WBUT. The Peerless Group have already designed the course content and it would be supported by on-job training and theoritical part. This course would be independently run by the hospital. Peerless Group would offer two one-year post graduation programmes in Hospital Front-Office Management and Support Services Management in association with NSOU. ''These courses are first to be started in the country,'' Mr Basu added. The course on Support Services Management would deal with areas like hospital catering, central supply, bio-medical waste and house-keeping. ''Such courses would be conducted at Peerless Hospital premises. The new campus would be constructed by 2008,'' he added. The company has nine acres of land in the hospital premises, which would be converted into a full-fledged medical institution. The company has also tied up with WBUHS to start a bachelor's programme in Nursing. Plans are also afoot to start phisiotherapy courses.(UNI) |
Ford India launches dual-fuel variant of Ikon Flair NEW DELHI, Nov 28: With consumers in the Indian automobile market shifting to the more fuel-efficient option, Ford India today announced the launch of ‘Ikon Flair CNG’, a dual-fuel variant that can run both on petrol and Compressed Natural Gas. "Globally, Ford Motor Company continues to conduct extensive research and development work with alternate fuels," Ford India President and Managing Director Arvind Mathew said. Priced at Rs 5.25 lakh (ex showroom New Delhi), the Flair Ikon CNG will be initially available in Delhi, Mumbai, Surat, Baroda and Ahmedabad. It has a fuel selection switch on the dashboard to enable the customer an easy switch between the two options. Ford India’s other models include the Fusion, Endeavour, Mondeo and the Fiesta. Offering cleaner emissions and immense savings on running costs, the Ikon Flair CNG will result in lower cost of ownership, making it an attractive product for the value discerning customer, Mr Mathew added. Ford India is a wholly-owned subsidiary of Ford Motor Company, a global automotive industry leader and is in its tenth year of operations in the country.(UNI) Honda launches new CR-V; small car to take time NEW DELHI, Nov 28: Honda Siel Cars India today launched a new CR-V, its premium SUV model, which will be costlier by at least Rs 2.5 lakh than the existing one, even as the company said it has not finalised any plan on the small car and the second plant front. "The third generation CR-V, which is being introduced in India within a few months of its global launch, signifies the importance of the Indian market to Honda’s plans," Honda Siel Car India President and CEO Masahiro Takedagawa told reporters here. The new CR-V, which comes in two variants of six speed manual transmission and an automatic transmission, is priced at Rs 17.7 lakh ex-showroom Delhi and Rs 18.4 lakh ex-showroon Delhi respectively. Commenting on the company’s plans for a small car and a new plant, Takedagawa said nothing has been finalised and the company was still studying various options. He also said the increasing input cost and unfavourable foreign exchange rate is putting pressure and therefore the company was looking at hiking prices of all its production models in India. "We are still working out as to by how much the process will be increased but we will try to keep it minimum so as not to burden the customers," he said. On the issue of Honda Motors India, he said the proposed company, which will be overseeing all of Honda’s operations in India, is likely to officially start operations by December. HMI is for synergising the operations of four companies of Honda India, he said. "To start with, the company will look after the spare parts and services for four-wheelers and then gradually expand to two wheelers," he added. (PTI) |
| Strategic flaws in world trading system
be corrected: India NEW DELHI, Nov 28: Contending that there are "strategic flaws" in the global trading system, India today said these need to be corrected for resumption of the Doha round of WTO talks which are suspended since July. There should not only be "relaxation" but also "justice" in the global trading system, Commerce Minister Kamal Nath said in Lok Sabha in reply to questions, adding the Government was proceeding in the WTO talks with this objective in mind. "We feel that there are strategic flaws in the global trading system which should be corrected," he said, hoping that it will be done to allow the Doha Development Round to proceed. The Doha negotiations were suspended in July after India refused to accept certain conditions, he said, adding the impasse has been caused because of differences over the issue of subsidies, tariffs, services and rules. India has been engaged in the WTO negotiations to ensure its "core concerns and interests" continue to be adequately addressed at each stage of the talks, he said. Nath said India’s accession to the WTO regime has brought "some difficulties" but overall the step has been beneficial for the country. India is witnessing high economic growth of 8.5 per cent and industrialisation has increased after it associated with the WTO system, the minister said. Nath said India has been pursuing its national interests by forging coalitions of developing countries on various negotiating issues such as agriculture, special products and special safeguard mechanism and services. "Our negotiating objectives have been developed based on analytical work and an intensive process of dialogue with the stakeholders," the commerce minister said. India has also been playing an active role in strengthening various developing country coalitions by bringing together G-20, G-33 and G-90 groups of countries in a broad alliance to reinforce each others’ positions on issues of mutual interest. On the domestic front, the Government is continuously monitoring the surge in import of sensitive items and it is committed to intervene in a WTO compatible manner to protect the interests of all domestic stakeholders, he said. To a question, he said the Government was exploring the steps needed to be taken on intellectual property rights protection considering that India is expected to be IPR creator in the future. Since the establishment of the WTO, India’s trade, including in pharmaceutical products, has been growing continously, both in merchandise goods category as well as commercial services, Nath said. (PTI) |
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