KPCL introduces new compressors in Gujarat..........

PM alarmed by rise in crude prices, to consider all options

Onion exports likely to dip over 30 pc in 2007-08...

After vibrating condoms, cheaper female condoms are the next....

Parsvnath bags Rs 90 cr order to build Sai Ashram

MUMBAI, Jan 7: Realty major Parsvnath Developers today said it has bagged a contract of Rs 90 crore from Chennai-based Shirdi Sai Trust for building an ashram.

"We feel privileged to be part of this great social work. Once complete, Shirdi Sai trust will hand over the ashram to Shirdi Sai Sansthan for ownership, management and further maintenance," Parsvnath Developers Chairman Pradeep Jain said.

The project would be initiated within this month and completed within 21 months from the date of commencement of construction, the company said in a filing to Bombay Stock Exchange.

The company was awarded the contract of Sai Ashram at Shirdi in Maharashtra, where in the company would construct dormitories blocks, residential blocks and an open air theatre.

Parsvnath is already developing a 58 room 3-star hotel at Shirdi spread over a total area of 50,000 sq feet. (PTI)

KPCL introduces new compressors in Gujarat..........

AHMEDABAD, Jan 7: Pune-based Kirloskar Pneumatic Co Ltd (KPCL) has introduced compressors, used for industrial refrigeration, in Gujarat to meet the requirements of the growing number of malls and booming pharma industry.

"KPCL, which has one of the largest networks in the refrigeration business, will be importing these state-of-the- art semi-hermetic screw refrigerant compressors under a tie-up with Fu Sheng Industrial Co. Ltd of Taiwan", company general manager (corporate marketing) Sanjay Grover, told PTI here.

"Gujarat is a good market for these compressors which are based on an advanced screw technology", Grover said, adding KPCL was targeting chiller manufactures both in Gujarat and other parts of the country.

"With the real estate boom, a lot of malls have sprung up in different parts of Gujarat. These malls require large chillers and air-coolers," he said. "We are also looking to target the pharmaceutical units in the state", Grover added.

These compressors can be widely used in water and air cooled air-conditioning systems, thermal storage systems, heat pumps or industrial processes.

"We are initial looking to import the entire compressor from Taiwan. But as the sales pick up we expect to gradually indigenise the product", he said.

Grover said KPCL, one of the core firms of the Kirloskar Group, aims to sell about 400 compressors in India in FY08-09.

"Till the end of this financial year we will mostly be engaged in popularising the product", he said adding initially these compressors will be available in 10 models, adding, "These compressors also have a cooling capacity ranging from 135 KW to 797 KW", Grover added.

KPCL has already launched the product in Delhi, Jaipur, Chandigarh, Lucknow, and Kolkata and plans to take it to Pune, Mumbai, Bhopal, Chennai, Bangalore and Kochi. (PTI)

PM alarmed by rise in crude prices, to consider all options

NEW DELHI, Jan 7: Prime Minister Manmohan Singh today expressed concern at the rise in international oil prices and said that all possible options, including a fuel price hike and duty cuts, will be considered to deal with the situation.

"We have to look at all possibilities existing. I would not like to comment on it," he told reporters when asked if petrol and diesel prices are set to be raised.

"Steep rise in crude oil prices is a cause of concern. We have to look at various options open to us," he said after new CAG Vinod Rai took oath of office at Rashtrapati Bhawan.

A Group of Ministers on fuel prices headed by External Affairs Minister Pranab Mukherjee will meet on January 17, the first ever meeting after its constitution by the Prime Minister in November 2007, to consider a response to crude prices touching USD 100 a barrel.

The crude prices have since fallen back, but is a cause of worry to India, which meets three-fourth of its demand through imports.

With state retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum together losing Rs 340 crore every day on sale of petrol, diesel, domestic LPG and PDS kerosene at prices below the imported cost, a hike in fuel prices and a cut in excise duty are being mooted as options.

Petroleum Minister Murli Deora said the GoM on fuel prices will meet on January 17 to consider all ‘options’ but refused to elaborate.

While 42.7 per cent of the under-realisation on fuel sale is met by Government through issue of oil bonds and one-third by assistance from upstream companies like ONGC, options for neutralising the balance one-fourth of revenue loss are being explored.

The current price of Indian basket of crude oil is higher by around 22-23 dollars a barrel over the international price prevailing at the time of last increase in petrol and diesel prices on June 6, 2006.

Indian Oil, Bharat Petroleum and Hindustan Petroleum are projected to lose Rs 69,753 crore on sale of petrol, diesel, domestic LPG and PDS kerosene, as the government has not allowed them to raise prices in line with the price of imported crude.

Petrol is being sold at a loss of Rs 8.74 a litre, diesel at Rs 9.92 per litre, kerosene Rs 20.53 a litre and LPG at a loss of Rs 256.35 per cylinder. (PTI)

Onion exports likely to dip over 30 pc in 2007-08...

NEW DELHI, Jan 7: The country’s onion exports are likely to fall by almost a third to about eight lakh tons in 2007-08 fiscal due to curbs on overseas sales during the festival season and congestion at ports.

"We have exported about six lakh tons till December and the final export figure for the entire fiscal is likely to be around eight lakh tons," a senior Government official said.

This would be a decline of 31 per cent from exports of 11.61 lakh tons in the previous year.

The official said despite a substantial cut in minimum export price (MEP), exports over the next three months would not be more than two lakh tons due to congestion at ports.

Onion exports declined by 36 per cent to 5.97 lakh tons during April-December period of current fiscal as compared to 9.26 lakh tons in the year-ago period. India produces about 65 lakh tons of onion annually.

The move to raise the MEP during the festival season (due to high domestic prices) was the main factor for the decline in exports, traders said, adding November-December is very good period to sell onions in overseas markets.

After the festival season, Nafed and 12 other agencies, which fix the export price every month, had drastically cut the MEP for most of the destinations to boost overseas sales.

The onion MEP for January shipments stands at 200 dollars a tonne for most of the destinations such as Gulf countries. The MEP was 495 dollars a tonne in October last year.

As a result of higher MEP, the exports in October and November were 23,785 tons and 30,714 tons respectively. The exports in the same period of the previous year were 88,389 tons and 1.08 lakh tons respectively. (PTI)

After vibrating condoms, cheaper female condoms are the next....

NEW DELHI, Jan 7: With newer studies revealing that Indian youngsters are experimenting with their sex life more than ever before, condom manufacturers too are now experimenting with their products to give ‘absolute pleasure’ and safety.

So, if it was the vibrating condoms that created controversy last year, 2008 promises to be even more exciting with the introduction of new female condoms which though were available in India before, stayed out of reach for common woman due to its high price and lack of publicity.

Hindustan Latex Ltd (HLL), a state-run condom manufacturer which markets the popular ‘Moods condom’ has just launched, Velvet female condoms.

"Female condom is the only power that a women has in her hands to protect herself from both pregnancy and sexually transmitted diseases at the same time. Till now, this power rested with men. It is only now that women are getting to know about such a condom being available in the market," Rajeev Kumar, Product Manager, Consumer Business Division, HLL said.

While HLL is optimistic about the potential growth of this particular segment, its rival firm TTK-LIG Ltd which markets the international brand, Durex condoms in India is keenly watching Velvet’s performance before it takes any decision.

Velvet, a more cost effective product than its predecessor Confidom, which is for the premium segment is priced at Rs 100 for a pack of three whereas Confidom is priced at Rs 250 for a pack of two pieces.

Countering any fears of slackness in quality because of the huge price difference between the two, Kumar adds, "The price reduction is purely because of the material used in their production. Velvet as the name suggests is smooth. It is made from a material called Nitrile which is stronger and much thinner than latex which is commonly used for condoms."

According to industry estimates the overall size of the condom market in India is roughly around two billion pieces annually with female condom’s share almost negligible.

R Srinivasan, Vice President, Marketing, TTK-LIG Ltd says that female condom as a market is not big even outside India.

"We are just watching this particular segment. We have not decided on anything yet. But the fact is that female condoms have not done so well outside India. Hence, we would like to monitor the market for some time," says Srinivasan.

While companies still study the market, the urban women seem to be keen on trying it out.

"This is a new concept that I have heard of. I will try it out very soon not because of concern of protection or anything but just out of curiosity," says Vibha Sharma, a media professional.

Though one might think that men will object to the new tool, Ramesh, a software professional thinks the other way round.

"There is no problem if my wife wants to use it. We will try it out and use which one is more comfortable. But then, female condoms will prove to be too costly if used on a regular basis," says Ramesh.

Social activists working among sex workers too are happy that a cheaper female condom has hit the market but say that more cheaper options should be made available.

"It is very useful for women, both rural and urban but especially for those involved in sex work. It is like giving them power to protect themselves from sexually transmitted disease and unwanted pregnancy. But, the cost has to come dowm for it to be used by such women," says Siddharth Patil, a social activist working in among sex workers in Mumbai.

Velvet is manufactured by HLL in its Kerala plant in partnership with US-based Female Health Company.

In the first year of launch, the company expects to sell 1.5 million packets of Velvet.

HLL has a sales target of about Rs 5 crores by March 2009, of which about 8-10 percent is expected to be contributed by the female condom segment.

According to HLL officials point out that with increasing sales, the price of the product will also come down.

"We are happy with the initial response and are confident enough of achieving our annual target. We are also planning to install Velvet vending machines. With increase in sales, the prices will also come dowm,’ says Kumar.

Though Velvet has been introduced only in Delhi, HLL plans to take it to other parts of the country by later February and might also market it in foreign countries in the future. (PTI)