Canara Bank to launch online trading portal on Feb 18

MUMBAI, Feb 15: Canara Bank today said it will commercially launch online trading portal on February 18.In association .....more'

Mixed trend in pulses prices

NEW DELHI, Feb 15: Arhar dal prices rose by Rs 100-200 a quintal in the wholesale pulses market today following restricted supply against increased offtake....more

B C Jindal group to invest Rs 20Kcr to produce 5,000 MW power

NEW DELHI, Feb 15: B C Jindal Group today announced its foray into the power space with plans of investing over Rs 20,......more

Wheat dara prices move up

NEW DELHI, Feb 15: Wheat dara prices improved by Rs 35 per quintal in the wholesale grain market here today due to paucity of ready stocks amid frantic buying by rolling flour mills.Prices of atta, maida and sooji also gained Rs 10 a 90 kg bag.Marketmen said poor arrivals coupled with insufficient ready stock positions against ......more

Select edible oils decline on fresh supply

NEW DELHI, Feb 15: Cottonseed, mustard and ricebran oils turned weak by Rs 20-50 per quintal in the wholesale oils and oilseeds market today ......more

Chemical prices remain steady

NEW DELHI, Feb 15: A steady trend was noticed in the chemical market today as prices moved in a tight range on lack of ......more

Turmeric up on poor supply

NEW DELHI, Feb 15: Prices of turmeric shot up by Rs 200 in the wholesale kirana market today following poor arrival in the face of higher southern region advices.However, .......more

Copra declines on reduced offtake

NEW DELHI, Feb 15: Copra prices declined by Rs 50 per quintal in the wholesale dry fruit market today due to sluggish demand amid fresh arrivals from southern regions.Copra prices closed at Rs 4,450-4,550 a quintal.Marketmen said fall in demand from retailers and lower advices from ....more

     
     

NDTV to revise open offer schedule....

Mittal, Farallon to buy in arm for Rs 1,580 cr...

Zydus Cadila launches cancer drug.......

Nicholas Piramal signs agreement with US-based firm...

Canara Bank to launch online trading portal on Feb 18

MUMBAI, Feb 15: Canara Bank today said it will commercially launch online trading portal on February 18.

In association with its wholly-owned broking subsidiary, Gilt Securities Trading Corporation Ltd, it will extend online trading facility to their Depository clients, Canara Bank informed the Bombay Stock Exchange.

Besides the trading option, the portal would provide features like market-related information, research report, technical market analysis and sector watch.

With the operationalisation of the platform, Canara Bank would become the first public sector lender to launch such a platform.

Presently, a majority of state-run banks are offering this service in alliance with broking companies. For example, State Bank of India is offering the service through Motilal Oswal and Punjab National Bank has an alliance with IDBI Capital.

The Bangalore-based bank had posted a 26.4 per cent increase in net profit at Rs 459 crore for the third quarter ended December 2007 as compared to Rs 363 crore for the corresponding quarter of FY07.

The bank registered a total income of Rs 4,096.60 crore for the third quarter of FYO8 from Rs 3,245.93 crore during the same quarter last year, an increase of 26.22 per cent.

For the nine months ended December 2007, net profit recorded a 20 per cent growth year-on-year to reach Rs 1,101 crore, as against Rs 916 crore. (PTI)

Mixed trend in pulses prices

NEW DELHI, Feb 15: Arhar dal prices rose by Rs 100-200 a quintal in the wholesale pulses market today following restricted supply against increased offtake.

On the other hand, moth price declined by Rs 100 a quintal on lack of buying interest triggered by selling pressure.

However, other pulses ruled flat on small bouts of trade.

Marketmen said poor supply from producing regions pushed up arhar dal prices.

Arhar dal dara and pataka settled at at Rs 3,400-3,600 and Rs 3,550-3,900 a quintal from Rs 3,300-3,400 and Rs 3,400-3,850 respectively on better offtake.

On the other hand, moth lean down from Rs 1,750-1,900 to close at Rs 1,650-1,800 a quintal on sluggish demand.

Following were today's quotations (per quintal):

Urad Maharashtra 1800-2200, Rangoon 2100-2150, Urad chilka (local) 2500-2650 , best 2700-3000, dhoya local 2700-2900, best 3000-3250, Moong Maharashtra 2250-2450, UP\Bihar 2000-2300, Rajasthan 1850-2150, dal moong chilka local 2550-2750, best 2750-3050, moong dhoya local 2700-2850, best quality 2950-3250, masoor small 3000-3150, bold 2850-2950, dal masoor local 3200-3400, best quality 3400-3650, Malka local 3150-3300, best 3350-3500, Moth 1650-1800, Arhar Maharashtra 2600-2700, Rangoon 2450-2550, dal arhar dara 3400-3600 and patka 3550-3900.

Gram 2400-2425, gram dal (local) 2600-2750, best quality 2750-2900, besin (35 kg) shakti bhog 1140, rajdhani 1140, Rajmah chitra Pune 3150-3900, China 3550-3900, red 2900-3000, kabli gram small 2800-3475, dabra 2775-2875, imported 4600-4700, lobia 2200-2600, peas white 2100-2175 and green 2150-2200. (PTI)

B C Jindal group to invest Rs 20Kcr to produce 5,000 MW power

NEW DELHI, Feb 15: B C Jindal Group today announced its foray into the power space with plans of investing over Rs 20,000 crore to produce 5,000 MW in the next five years.

The group’s Jindal India Thermal Power Ltd plans to implement three pit-head, coal-based power projects totalling 4,300 MW in Orissa, Madhya Pradesh and Chhattisgarh. The firm also proposes to venture into hydel power production with plans to establish a 1,000 MW project in North India at a cost of Rs 6,000 crore.

"We plan to set up 5,000 MW coal-based power plants with an investment of more than Rs 20,000 crore. We have signed MoUs with state governments of Orissa and Chhattisgarh for establishing plants there, while an MoU with Madhya Pradesh government is scheduled to be signed tomorrow," Company Director Puneet Gupta said.

The funding for the projects would be done in a debt equity ratio of 80:20. Jindal India Thermal Power has appointed SBI Capital Markets Ltd for syndication of loans for the projects.

The company plans to set up a 2,000 MW power project in Madhya Pradesh. The plant, to come up near Sasan ultra mega power project being implemented by Reliance Power in Sidhi district, will entail an investment of over Rs 8,000 crore.

"The 1,200 MW plant in Orissa is in advanced stage of implementation. We have received the fuel linkage for producing close to 80-85 per cent of the planned capacity. Land acquisition is expected to be complete by April-end. Water commitments and other statutory clearances are also expected to come by mid-May," Gupta said. (PTI)

Wheat dara prices move up

NEW DELHI, Feb 15: Wheat dara prices improved by Rs 35 per quintal in the wholesale grain market here today due to paucity of ready stocks amid frantic buying by rolling flour mills.

Prices of atta, maida and sooji also gained Rs 10 a 90 kg bag.

Marketmen said poor arrivals coupled with insufficient ready stock positions against frantic buying by rolling flour mills helped wheat prices rise.

Wheat dara price jumped to Rs 1,120-1,125 a quintal from from Rs 1,088-1,090 a quintal on frantic buying interest against reduced supply.

Atta chakki mill delivery and rolling flour mills prices also remained firm at Rs 1,118-1,120 and Rs 1,115-1,120, against previous close of Rs 1,105-1,110 and Rs 1,100-1,105 a 90 kg bag respectively.

Maida and sooji too closed higher from Rs 1,170-1,180 and Rs 1,185-1,200 to settle at Rs 1,180-1,200 and Rs 1,200-1,210 a 90 kg bag respectively in line with wheat.

Following were today's quotations per quintal (in Rs): wheat MP (deshi) 1300-1575, wheat dara (for mills) 1120-1125, chakki atta (delivery) 1118-1120, Chakki atta Rajdhani (10 kgs) 145, shakti bhog (10 kgs) 155, roller flour mill 1115-1120, maida 1180-1200 (90 kilos) and sooji 1200-1210 (90 kgs).

Rice basmati (lal quila) 6800, Shri Lal Mahal 7000, Basmati common 5700-5850, Permal raw 1250-1350, permal wand 1425-1475, sela 1725-1775 and rice IR-8 1125-1175, Bajra 610-620, Jowar yellow 615-660, white 1110-1200, Maize 800-825 Barley (UP) 1170-1185 and Rajasthan 1180-1185. (PTI)

Select edible oils decline on fresh supply

NEW DELHI, Feb 15: Cottonseed, mustard and ricebran oils turned weak by Rs 20-50 per quintal in the wholesale oils and oilseeds market today due to increased supply against slackness in demand.

However, non-edible oils remained quiet on low buying interest.

Marketmen said reduced offtake by vanaspati mills against increased supply from producing regions like Uttar Pradesh, Gujarat and Punjab pulled down select edible oils prices.

Cottonseed mill delivery shed Rs 20 to end at Rs 5,530 per quintal on lack of support from vanaspati mills.

Mustard expeller lost Rs 30 to finish at Rs 5,720 a quintal on reduced offtake.

Ricebran oils prices dipped by Rs 50 due to selling pressure and closed at Rs 4,850 a quintal.

Following were today's quotation per quintal:

Oilseeds: mustard seed 2325-2500 and Groundnutseed 2700-3000.

Vanaspati ghee (15 litres tin) 875-975.

Edible oils: Groundnut mill delivery 7,200, Groundnut Solvent refined (per tin) 1235-1260, Mustard Expeller 5,720, Mustard Pakki ghani (per tin) 875-975, Mustard kachi ghani (per tin) 925-975, Sunflower 5,350, Sesame mill delivery 7,400, Soybean Refined mill delivery 6,150, Soyabean degum (Delhi) 6,000, Crude Palm Oil (Ex-kandla) 5,050, Cottonseed mill delivery 5,530, palmoline (RBD) 5,900, Rice bran (phy) 4,850 and coconut (per tin) 900-950.

Non-edible oils: linseed 4700 Mahuwa 4250, castor 5050-5150, Neem 3800-3850, Rice bran 3800-3900 and palm fatty 3125-3200.

Oilcakes: groundnut dehusk 770-820, Sesame 925-1125, Mustard (new) 1000-1025, Mustard 975-980 and Cottonseed 975-1100. (PTI)

Chemical prices remain steady

NEW DELHI, Feb 15: A steady trend was noticed in the chemical market today as prices moved in a tight range on lack of buying interest.

Traders said restricted stocks against lack of buying interest kept prices flat.

Following are today's quotations:

Ammonia bicarb (25 kg) 350 Ammonium chloride (50 kg) 1,800, acetic acid (1 kg) 42, boric acid technical (50 kg) 4,400-4,700, borex granular (50 kg) 2100.

Caustic soda flake (50 kg) 1180 citric acid (50 kg) (China) 2,650-2,800, citric acid deshi (50 kg) 2,600-2800, camphor slab (1 kg) 170-175, camphor powder (1 kg) 150, glycerine (1 kg) 78-80, hexamine (1 kg) 82, hydrogen peroxide (1 kg) 31-32, mercury (34.5 kg) 28,800, menthol bold crystal (per kg) 600 menthol flake (1 kg) 580 and Mentha oil (1 kg) 495.

Paraffin wax (50 kg)Iran 2,900-3,000

paraffin wax (50 kg)China 3,600

paraffin wax (50 kg) Indian 3,250

residue wax (p tonne) 30,000

soda ash (50 kg) (Tata) 880

soda ash (50 kg) (Gujarat) 870

soda ash (50 kg) (Dcw) 870

soda ash (50 kg) (Birla) 870

Sodium Nitrite (50 kg) 1400-1550

Sodium silicate (Qtl) 950-1100

stable bleaching powder (shriram) (25 kg) 310 stable bleaching powder (chambal) 340

stable bleaching powder (modi) 310

tartaric acid france (1 kg) 421

thymol (1 kg) 415

titanium dioxide (ttk) (1 kg) 100

titanium dioxide (k-brand) (1 kg) 90

titanium dioxide (china) (1 kg) 90

titanium dioxide (TR-92) 108

titanium dioxide (rc-822) (1 kg) 108

oxalic acid (pcpl-red) 50 kg 2500

oxalic acid (pcpl-blue)50 kg 2500

Zinc oxide (kg) 122-135. (PTI)

Turmeric up on poor supply

NEW DELHI, Feb 15: Prices of turmeric shot up by Rs 200 in the wholesale kirana market today following poor arrival in the face of higher southern region advices.

However, other spices continued to move in a tight range in scattered buying and selling and settled at previous levels.

Turmeric quoted higher by Rs 200 at Rs 3,400-4,600 per quintal.

Traders said poor arrival from southern regions and created tight stocks position helped turmeric prices go up.

Following are today's quotations (in Rs per quintal):

Ajwain 5,000-7,500 Black pepper common 14,600-14,800 Betelnut (kg) 105-115, cardamom brown Jhundiwali)15,200-15,300 and cardamom brown (Kanchicut) 17,000-20,000.

Cardamom small (kg): Chitridar 480-570, cardamom (colour robin) 620-640, cardamom bold 640-660, cardamom extra (bold) 680-700 and cloves (kg) 280-305.

Chirounji (new) (kg) 200-250

Dry mango 4,500-22,000

Dhania 4,300-6,500

Dry ginger 8,000-10,500

Kalaunji 7,500-8,000

Mace-Red (kg) 470-490

Mace-Yellow (kg) 450-455

Methiseed 3,500-4,000

Makhana (per kg) 175-220

Nutmeg 270-290

Poppyseed (KG Turkey) 375

Poppseed (KG MP-RAJ) 375-400

Poppyseed (KG U.P.) 335-345

Red chillies 3,000-7,000

Soya bari pariwar (20 kg) 350-400

Saffron (kg) Irani 105000-107000

Saffron (kg) Kashmiri 124000-132000

Soanf 3,800-10,500

Turmeric 3,400-4,600

Tamarind 8,00-1,300

Tamarind without seed 1,800-3,200

Tea (kg) 65-120

Watermelon kernel 8,400-8,500

Jeera common 9,400-9,800

Jeera dollar 9,700-9,800. (PTI)

Copra declines on reduced offtake

NEW DELHI, Feb 15: Copra prices declined by Rs 50 per quintal in the wholesale dry fruit market today due to sluggish demand amid fresh arrivals from southern regions.

Copra prices closed at Rs 4,450-4,550 a quintal.

Marketmen said fall in demand from retailers and lower advices from producing regions brought down copra prices.

However, prices of other dry fruits settled at previous closing levels on small bouts of trade.

Following are today's quotations per 40 kg bag: Almond (California) new 8,400 Almond (gurbandi) 5,200 Almond (girdhi) 3,300, Almond kernel (California) 292-294 Almond kernel (gurbandi) (kg) 300-350 and Abjosh Afghani 5,500-12,000.

Chilgoza raw-new (1 kg) 390

chilgoza (roasted) (1 kg) 750

cashew kernel 1 kg (no 180) 430-440

cashew kernel (no 210) 390-400

cashew kernel no.(240) 320-325

cashew kernel (no 320) 275-280

cashew kernel broken 2 pieces 250-255

cashew kernel broken 4 pieces 215-245

cashew kernel broken 8 pieces 180-220

copra (qtl) 4,450-4,550

coconut powder (25 kg) 1,100-2,000

dry dates red (qtl) 2,600-7,500

fig 3,500-12,000

kishmish kandhari local 5,300-5,500

kishmish kandhari special 11,000-14,000 kiahmish indian yellow 2800-3200

kishmish indian green 3,400-4,800

pistachio Irani 450-470

pistachio Hairati 470-510

pistachio Peshawari 525-560

pistachio dodi (roasted) 280-310

walnut new 130-220

walnut kernel new (1kg) 360-510.

(PTI)

NDTV to revise open offer schedule....

MUMBAI, Feb 15: Media house New Delhi Television Ltd today said it will revise the schedule of activities pertaining to its open offer for a 20 per cent stake in the company.

There has been a delay in sending the letter of offer to the company's shareholders. According to the open offer, the letters had to dispatched by February 5.

"There has been a delay in the said dispatch, in view of which the schedule of activities announced earlier is required to be revised," NDTV said in a filing to the Bombay Stock Exchange (BSE).

The revised schedule of activities will be announced separately, NDTV said, adding that all other terms and conditions remain same.

The offer was scheduled to open on February 12 and close on March 3.

On December 31, NDTV promoters Prannoy Roy and his wife Radhika Roy had made an open offer to acquire 20 per cent equity in the company for Rs 438.98 per share. Calculated at this rate, the entire transaction is estimated to cost more than Rs 550 crore.

Both the promoters would acquire equal number of equity shares through the offer, which is for 12,525,336 equity shares of Rs 4 each.

The promoters had earlier acquired 7.73 per cent equity from GA Global Investments, a foreign institutional investor. Accordingly, the cap on holdings in the company by foreign funds and non-resident Indians was released to that extent.

The shares of the company were trading at Rs 402.90 on the BSE, a decline of 0.21 per cent over the previous close at Rs 403.75. (PTI)

Mittal, Farallon to buy in arm for Rs 1,580 cr...

MUMBAI, Feb 15: Billionaire businessman L N Mittal and US-based fund house Farallon Capital Management will pick a 37 per cent stake in Indiabulls Real Estate subsidiary for a combined investment of Rs 1,580 crore.

An agreement to this effect has been entered into between Indiabulls Real Estate, FIM Ltd-a foreign venture capital investor managed by Farallon Capital Management LLC, and LNM India Internet Ventures Ltd-an investment arm of Mittal.

Both the investors-Mittal and Farallon-have agreed to invest around Rs 1,580 crore by subscribing to 37.5 per cent equity capital of Sophia Power Company at Rs 66.67 each, Indiabulls Real Estate said in a filing with the BSE.

The unlisted Sophia Power Company is a 100 per cent subsidiary of Indiabulls Real Estate.

According to the agreement, FIM would invest Rs 987.50 crore for a 23.4 per cent stake, while LNM India Internet Ventures will inject Rs 592.50 crore for 14.1 per cent shareholding in Sophia Power Company Ltd.

Indiabulls Real Estate has invested an amount of Rs 395 crore and would hold 62.5 per cent of the post-issue equity share capital of Sophia Power Company.

Besides, Indiabulls has also invested Rs 197.50 crore for subscription to equity shares of its unlisted wholly-owned subsidiary Indiabulls Power Services.

Further, a merger of Indiabulls Power Services and Sophia Power Company, in accordance with applicable laws is also being contemplated, the company said.

The merged entity would be called Sophia Power Company, in which Indiabulls Real Estate would hold a 71.4 per cent stake. Of the balance, 17.9 per cent would be held by FIM Ltd and 10.7 per cent by LNM India Internet Ventures Ltd.

(PTI)

Zydus Cadila launches cancer drug.......

MUMBAI, Feb 15: Pharma major Zydus Cadila today said it has launched a drug, Nudoxa, which can be used in the treatment of cancer.

Zydus Cadila has introduced a Novel Drug Delivery System (NDDS) product used in the treatment of various cancer, the company said in a filling to the Bombay Stock Exchange.

Nudoxa is used in chemotherapy, which is a common mode for treatment of cancer. "Nudoxa addresses the need for a drug that has reduced toxicity and side effects," Cadila said.

The drug is particularly used for treating breast and ovarian cancer, the company said.

Nudoxa with its unique drug delivery system is a breakthrough in cancer therapy as it offers the benefits of Pegylaled-liposomal doxorubiein, which is used as an oncology drug, Cadila added.

However, Pegylated-liposomal doxorubicin causes side effects like skin eruptions.

Nudoxa has patent rights in India and South Africa, and has also filed for patents in EU, the US and Japan.

Marketed by Zydus Biogen, the drug is manufactured by Zydus-BSV Pharma Pvt Ltd, the joint venture company of Zydus Cadila and Bharat Serums and Vaccines Pvt Ltd.

Shares of Cadila Healthcare were trading at Rs 249.50, down 0.30 per cent on the BSE. (PTI)

Nicholas Piramal signs agreement with US-based firm...

MUMBAI, Feb 15: Pharmaceutical company Nicholas Piramal India Ltd today said it has entered into an agreement with US-based Eli Lilly to develop and commercialise latter's certain pre-clinical drug products.

NPIL Research and Development (NRDL) and Eli Lilly have signed a new drug development agreement, Nicholas Piramal India Ltd (NPIL) said in a communique to the Bombay Stock Exchange.

As per the agreement, both NRDL and Lilly will independently carry out early clinical development of two different drug compounds.

NRDL would receive a payment of 110 million dollars from the US firm, plus royalties on sales upon successful launch of the compounds.

Last year, both the company had entered into an agreement to design and increase productivity in drug development by synergising their strengths.

"We are strengthening our R&D collaboration with Eli Lilly as our first agreement is on track and has seen benefits accruing to both partners in terms of cost, quality and time," NPIL Director (Strategic Alliances and Communications) Swati Piramal said.

(PTI)



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