A further sharp fall in Instanex Skindia DR Index

MUMBAI, Feb 25: The Instanex Skindia DR Index dropped further sharply by 69.17 points or 2.26 per cent to 2,996.95 on .....more'

Gram, arhar dal prices up on increased buying

NEW DELHI, Feb 25: Gram and arhar dal prices rose by Rs 50-100 a quintal in the wholesale pulses market here today ...more

Unitech to invest Rs 9,000 cr in two properties at Hyderabad

NEW DELHI, Feb 25: Unitech, the country's second largest realty firm, has bagged two real estate projects in Hyderabad that it .......more

Price closes quiet in thin trade

NEW DELHI, Feb 25: Both, high and low density polymer prices showed a steady tendency on the wholesale plastic market here toay as prices by and large after moving narrowly on little buying and selling spree, finished unchange.Marketmen said little buying support against sufficient stocks position, largely kept the prices around ......more

Oils prices remain quiet

NEW DELHI, Feb 25: Steady conditions prevailed in the wholesale oils and oilseeds market here today as prices moved in a narrow range on poor buying.Marketmen ........more

Almond prices up on poor arrival

NEW DELHI, Feb 25: In thin trading, almond quoted higher by Rs 50 to 100 in the wholesale dry fruit market today on seasonal buying amid negligible arrivals.......more

Price remains quiet on some support

NEW DELHI, Feb 25: Quiet conditions prevailed on the local iron and steel market here today as prices by and large .......more

Caustic soda eases on slack demand

NEW DELHI, Feb 25: Caustic soda prices receded in restricted activity in the local chemical market today on slackened industrial demand and ended lower.Caustic soda flake receded to Rs 1,160 from previous level of Rs 1,180 a 50 kg pack.Marketmen said reduced offtake by detergent manufacturers helped caustic soda .....more

     
     

Black pepper up on better demand

Cut jet fuel price: Aviation industry’s budget wish-list

Dish TV cancels issue of Rs 250 cr securities to PE fund

Honda to expand dealership network in 3 yrs; doubles capacity

A further sharp fall in Instanex Skindia DR Index

MUMBAI, Feb 25: The Instanex Skindia DR Index dropped further sharply by 69.17 points or 2.26 per cent to 2,996.95 on February 22 from 3,066.12 previously.

The P/E Ratio also moved down to 26.32 from 26.85, Instanex Capital release said here today.

Following are the GDR and ADR rates for Feb 22 in US dollars with differences in percentage from the previous level given in brackets.

Bajaj Auto(GDR) 61.00 (UNCH)

Dr Reddy (ADR) 13.73 (-0.22)

HDFC Bank (ADR) 111.47 (-2.63)

Hindalco (GDR) 4.61 (-1.91)

ICICI Bank (ADR) 53.87 (-4.60)

Infosys Tech (ADR) 41.50 (-0.48)

ITC (GDR) 5.17 (-2.45)

L&T (GDR) 87.80 (+2.39)

MTNL (ADR) 6.07 (+1.17)

Ranbaxy Labs (GDR) 10.42 (+1.17)

Reliance (GDR) 120.45 (-3.42)

Satyam Comp (ADR) 25.83 (-1.00)

SBI (GDR) 112.38 (-3.00)

VSNL (ADR) 23.88 (-0.50)

Wipro (ADR) 11.75 (UNCH)

(PTI)

Gram, arhar dal prices up on increased buying

NEW DELHI, Feb 25: Gram and arhar dal prices rose by Rs 50-100 a quintal in the wholesale pulses market here today following downfall in arrivals from producing regions amid increased buying interest.

However, prices of other pulses ruled flat on small bouts of buying and selling.

Marketmen said poor supply from producing belts amid rise in demand largely pushed up gram and arhar dal prices.

Gram gained from Rs 2,525-2,550 to close at Rs 2,550-2,650 a quintal on poor supply.

Its dal local and best also marked ahead from Rs 2,800-2,950 and Rs 2,950-3,150 to close at Rs 2,900-3,050 and Rs 3,000-3,200 a quintal respectively.

Arhar dal dara and pataka also found fresh support and traded at Rs 3,550-3,800 and Rs 3,700-4,000 instead of Rs 3,500-3,700 and Rs 3,650-3,950 a quintal respectively.

Following are today's quotations (per quintal):

Urad Maharashtra 2050-2400, Rangoon 2300-2375, Urad chilka (local) 2650-2800 , best 2800-3100, dhoya local 2800-3000, best 3100-3350, Moong Maharashtra 2250-2550, Rajasthan 1875-2250, dal moong chilka local 2600-2800, best 2800-3150, moong dhoya local 2700-2850, best quality 2950-3300, masoor small 3000-3150, bold 2850-2950, dal masoor local 3250-3450, best quality 3450-3700, Malka local 3250-3450, best 3475-3650, Moth 1750-1850, Arhar Maharashtra 2600-2700, Rangoon 2450-2550, dal arhar dara 3550-3800 and patka 3700-4000.

Gram 2550-2650, gram dal (local) 2900-3050, best quality 2950-3200, besin (35 kg) shakti bhog 1210, rajdhani 1225, Rajmah chitra Pune 3150-3900, China 3550-3900, red 2900-3000, kabli gram small 2850-3525, dabra 2775-2875, imported 4600-4700, lobia 2200-2600, peas white 2150-2225 and green 2200-2250. (PTI)

Unitech to invest Rs 9,000 cr in two properties at Hyderabad

NEW DELHI, Feb 25: Unitech, the country's second largest realty firm, has bagged two real estate projects in Hyderabad that it would develop over the next eight years at an investment of about Rs 9,000 crore.

According to sources, the company has bagged a mixed-use project located at Budvel from Hyderabad Urban Development Authority (HUDA) for development of residential, commercial and retail space over 164 acre of land.

The total investment on this project would be Rs 3,000 crore, including about Rs 664 crore for land, they added.

The company expects to generate a revenue of Rs 6,000 crore from this project, sources said, adding that the construction work is expected to start in the next fiscal.

Unitech has also bagged a project from Andhra Pradesh Industrial Infrastructure Development Corporation Ltd (APIIDC) to develop an integrated airport township in Hyderabad on public-private partnership.

The project spread over 350 acre would have a built up area of 30.5 million sq ft with mixed use development plan that includes township, hotels and office space.

The total investment in this project would be around Rs 6,000 crore, sources said, adding that the company would take five years to complete it.

The estimated revenue from this project is around Rs 12,000 crore, they said.

Unitech is expanding its presence in Andhra Pradesh and has recently acquired 1,750 acres of land in Visakhapatnam from APIIDC at over Rs 3,300 crore.

The national capital region (NCR), Kolkata and Chennai are the other key markets for Unitech. The company has a land bank of about 15,000 acres, comprising 675 million sq ft of developable area.

Of the total land bank, about 60 million sq ft of area is already under construction.

Unitech has a land bank of about 2,400 acre each in Andhra Pradesh and West Bengal, and 2,100 acres each in NCR and Chennai.

The company has recently made a foray into the Mumbai market by acquiring 50 per cent stake in a firm executing a 97 acre slum rehabilitation project.

Unitech has a plan to launch an initial public offer of its office trust in Singapore, for which it has received the approval from the Singapore Exchange.

The company plans to raise about 700 million dollars through the IPO in Singapore, according to investment banking sources.

Unitech posted a 39 per cent growth in its net profit at Rs 525.78 crore for the third quarter of 2007-08 fiscal as compared to the year-ago period. Its turnover rose by 19 per cent at Rs 1,165.11 crore during the review period. (PTI)

Price closes quiet in thin trade

NEW DELHI, Feb 25: Both, high and low density polymer prices showed a steady tendency on the wholesale plastic market here toay as prices by and large after moving narrowly on little buying and selling spree, finished unchange.

Marketmen said little buying support against sufficient stocks position, largely kept the prices around overnight levels.

Following were today's quotations in Rs per kg:

LD No 40 - 90.00, LD No 400 - 89.00 LLDP blowing 83.00, colour 73.00 HD Blowing 81.00, HD moulding (deshi) 79.00, HD moulding (colour) 82.00, PP No 100 80.00, PP Colour 104, ABS (Indian) 97, acrylic 130-140, colour 139-144, crystal (Indian) 80, colour 90, poly carbonate 180-190, Nylon No-6 160, Nylon No 66 -181-191, PVC resin deshi 56.00, PVC pest grade 85. (PTI)

Oils prices remain quiet

NEW DELHI, Feb 25: Steady conditions prevailed in the wholesale oils and oilseeds market here today as prices moved in a narrow range on poor buying.

Marketmen said poor demand against short supply kept the prices around last levels.

Following are today's quotations per quintal:

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

Vanaspati ghee (15 litres tin) 885-995.

Edible oils: Groundnut mill delivery 7,200, Groundnut Solvent refined (per tin) 1235-1260, Mustard Expeller 6,000, Mustard Pakki ghani (per tin) 885-1000, Mustard kachi ghani (per tin) 950-1000, Sunflower 5,350, Sesame mill delivery 7,650, Soybean Refined mill delivery 6,300, Soyabean degum (Delhi) 6,250, Crude Palm Oil (Ex-kandla) 5,400, Cottonseed mill delivery 5,700, palmoline (RBD) 6,000, Rice bran (phy) 5,000 and coconut (per tin) 900-950.

Non-edible oils: linseed 4800 Mahuwa 4350, castor 5200-5300, Neem 3900-4000, Rice bran 3850-4000 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)

Almond prices up on poor arrival

NEW DELHI, Feb 25: In thin trading, almond quoted higher by Rs 50 to 100 in the wholesale dry fruit market today on seasonal buying amid negligible arrivals.

Almond california quoted higher by Rs 100 at Rs 8,700 and almond girdhi by Rs 50 at Rs 3,350 per 40 kg bag respectively.

Marketmen said holding of stock by bulk traders amid poor arrival from overseas in the face of better offtake mainly brought up almond prices.

Prices of other commodities, however, remained steady on some enquiries.

Following were today's quotations per 40 kgs bag: Almond (California) new 8,700 Almond (gurbandi) 5,200 Almond (girdhi) 3,350, Almond kernel (California) 300-302 Almond kernel (gurbandi) (kg) 300-340 and Abjosh Afghani 6,00-13,000.

Chilgoza raw-new (1 kg) 390

chilgoza (roasted) (1 kg) 750

cashew kernel 1 kg (no 180) 425-435

cashew kernel (no 210) 385-390

cashew kernel no.(240) 315-320

cashew kernel (no 320) 270-275

cashew kernel broken 2 pieces 250-255

cashew kernel broken 4 pieces 210-245

cashew kernel broken 8 pieces 180-210

copra (qtl) 4,800-4,850

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 3200-3400

kishmish indian green 3,200-4,500

pistachio Irani 455-475

pistachio Hairati 475-515

pistachio Peshawari 530-565

pistachio dodi (roasted) 340-350

walnut new 110-200

walnut kernel new (1kg) 350-500.

(PTI)

Price remains quiet on some support

NEW DELHI, Feb 25: Quiet conditions prevailed on the local iron and steel market here today as prices by and large after hovering both ways on little buying and selling spree, pegged same on overnight levels.

Marketmen said little buying against restricted supply, mainly kept the prices on last levels.

Following were today's quotations in Rs per tonne:

CTD saria (kamdhenu) 8-mm, 40,650, 10-mm, 40,050, 12-mm 39,100, 16-25 mm 39,700.

Rathi tor steel : 8-mm 40,800, 10-mm 40,000, 12-mm 39,000, 16-20 mm 39,100 and 25-32 mm 39,300.

Saria Jai bharat (iso 9002) 8-mm 39,400, 10 mm 38,800 12-mm 38,000, 16-25 mm 38,500.

Amba saria (iso-9002) 8-mm 38,300, 10-mm 37,800, 12-mm 37,000, 16-25-mm 37,500.

Amba shakti: (TMT) 8-mm 38,600, 10 mm 37,800, 12 mm 37,300, 16 to 25 mm 37,500.

M S Angle: (50x5) (50x6) 34,100, (25x3) (32x3) (40x3) 34,300, (40x5) (40x6) 34,500. Angle capital (ISI) (50X5) (50X6) 34,500, (40X5) (40x6) 34,700, (35X5) (65X6) 34,900.

Garder (joist) (150x75) 36,000 (175x85) 36,100 (200x100) 36,600 (125x70) 36,100. T-IRON (40X5) (40X6)(50X6) 35,500.

Ingot and Scrap: Bhivari 32,100, Govindgarh 31,000, Ghaziabad 30,000, Muzaffarnagar 29,500. (PTI)

)

Caustic soda eases on slack demand

NEW DELHI, Feb 25: Caustic soda prices receded in restricted activity in the local chemical market today on slackened industrial demand and ended lower.

Caustic soda flake receded to Rs 1,160 from previous level of Rs 1,180 a 50 kg pack.

Marketmen said reduced offtake by detergent manufacturers helped caustic soda prices to ease.

However, chemical prices fluctuated in a narrow range on lack of worthwhile buying activity, settled around previous levels.

Following were today's quotations:

Ammonia bicarb (25 kg) 345 Ammonium chloride (50 kg) 1,800, acetic acid (1 kg) 42, boric acid technical (50 kg) 4,100-4,600, borex granular (50 kg) 2100.

Caustic soda flake (50 kg) 1160 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) 28,600, menthol bold crystal (per kg) 605 menthol flake (1 kg) 585 and Mentha oil (1 kg) 508.

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) 405

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)

)

Black pepper up on better demand

NEW DELHI, Feb 25: In an otherwise steady wholesale kirana market today, prices of black pepper ruled firm on paucity of ready stocks amid increased local demand and registered moderate gains.

Black pepper hardened to Rs 15,300-15,400 against previous close of Rs 15,100-15,200 a quintal.

Marketmen said increased demand coupled with restricted supplies mainly pushed up cardamom prices.

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

Ajwain 5,000-7,500 Black pepper common 15,300-15,400 Betelnut (kg) 105-115, cardamom brown

(Jhundiwali)15,500-15,600 and cardamom brown (Kanchicut) 17,500-20,500.

Cardamom small (kg): Chitridar 475-565, cardamom (colour robin) 615-635, cardamom bold 635-655, cardamom extra (bold) 675-695 and cloves (kg) 260-290.

Chirounji (new) (kg) 200-250

Dry mango 5,000-26,000

Dhania 5,300-8,000

Dry ginger 9,200-12,500

Kalaunji 7,500-8,000

Mace-Red (kg) 470-490

Mace-Yellow (kg) 455-460

Methiseed 3,500-4,000

Makhana (per kg) 175-220

Nutmeg 270-290

Poppyseed (KG Turkey) 410

Poppseed (KG MP-RAJ) 440-475

Poppyseed (KG U.P.) 370-380

Red chillies 3,200-7,200

Soya bari pariwar (20 kg) 350-400

Saffron (kg) Irani 105000-107000

Saffron (kg) Kashmiri 124000-132000

Soanf 3,500-10,000

Turmeric 3,700-4,800

Tamarind 8,00-1,300

Tamarind without seed 1,800-3,200

Tea (kg) 65-120

Watermelon kernel 8,000-8,100

Jeera common 9,000-9,300

Jeera dollar 9,300-9,400. (PTI)

Cut jet fuel price: Aviation industry’s budget wish-list

NEW DELHI, Feb 25: As the date of presentation of the union budget is drawing closer, the demand of the aviation industry to bring down the jet fuel prices is getting more vociferous.

Cutting down the central and state sales tax on aviation turbine fuel (ATF) form the crux of the wish-list of airlines from the budget, to be presented on February 29.

"It is the right time when the Central Government should step in and classify ATF as a declared good, which attracts a uniform sales tax of four per cent, to ensure that the aviation growth in the country does not falter," low-cost airline SpiceJet said in a statement presenting the budget expectations.

ATF prices in India are 60-100 per cent higher than in other countries, say airlines.

"Fuel prices amount to almost 45 per cent of the total cost of operations, whereas in most countries globally, it is not more than 18-20 per cent. Government’s action of declaring ATF as declared goods will go a long way in fuelling growth of the sector," GoAir Managing Director Jeh Wadia said in a statement.

Airport charges are 62 per cent higher in India compared to the global benchmarks, Wadia added.

SpiceJet further demanded a re-look at the FDI policy for the aviation sector. "There is a need to allow strategic investors, including foreign airlines, to invest in the domestic industry," it said.

SpiceJet also demanded abolition of fringe benefit tax on accomodation provided by airlines to the crew. The crew is required to operate flights from various airports and need to be possitoned there. Therefore, there is no fringe benefit in accomodation provided to the crew by airlines, it said.

Within few years of operation, low-cost airlines have gained a market share of 49 per cent in the country and policy encouragement can help them grow further, say airlines. (PTI)

Dish TV cancels issue of Rs 250 cr securities to PE fund

MUMBAI, Feb 25: Dish TV India, a part of Zee Network Enterprises, today said it has cancelled the allotment of securities worth Rs 250 crore to Mauritius-based private equity fund Indivision India Partners (IIP) on a preferential basis.

The process of issue and allotment of equity shares and warrants to IIP on a preferential basis stands withdrawn and cancelled, Dish TV said in a filing to the Bombay Stock Exchange.

"Due to recent volatility in the Indian markets, IIP wanted to drop taking the warrants and the Board of Dish TV felt that since the promoters are fully backing as well as the growth of customer acquisition is robust, we should not accept the change in deal structure, hence the company declined the change," Dish TV Managing Director Jawahar Goel said.

The company has a complete plan for required funding, Dish TV said in a filing to the Bombay Stock Exchange.

"We reiterate our commitment toward Dish TV business and are confident of its growth prospects ahead. The promoters have in the past infused funds into the business as and when required, and would continue to support in the near future," Dish TV Chairman Subhash Chandra said.

Indivision was supposed to be allotted 1.25 crore equity shares of Dish TV of Re 1 each at a price of Rs 100 each, aggregating Rs 125 crore.

Further, the private equity fund was to subscribe 9,615,385 warrants - each convertible into an equity share - at a price of Rs 130 per equity share aggregating to Rs 125 crore.

(PTI)

Honda to expand dealership network in 3 yrs; doubles capacity

GREATER NOIDA, Feb 25: Preparing for its planned foray into the compact car segment in India, Japanese auto major Honda today said it will be expanding dealership network across 90 cities in the country in the next three years.

The company will also expand its production capacity to 1,60,000 units by the end of next year.

"In preparation for Honda’s planned foray into the compact car segment, we are expanding our dealership network to 160 in 90 cities in the next three years," Honda Siel Cars India President and CEO M Takedagawa said at the inauguration of its new unit here.

The company currently has a network of 80 dealers in 51 cities and will be taking up the number to 100 in 2008-09.

HSCI’s facility here will have a capacity of 1,00,000 units, up form the current 50,000 units. It has invested Rs 400 crore in the capacity expansion. With this investment, HSCI has invested a total of Rs 1,620 crore since it started operations in India in 1997.

The company, which is currently constructing a second manufacturing facility in Rajasthan, expects to start production there with an initial capacity of 60,000 units. (PTI)



|
home | state | national | business| editorial | advertisement | sports |
|
international | weather | mailbag | suggestions | search | subscribe | send mail |