Dell to sell laptops, desktops through Croma outlets

Govt in a fix over Reliance’s decision to close petrol pumps

S&P launches ten stock India index

Brazil invites Indian companies to invest in sugarcane farming

Govt showers praise on Tatas for JLR deal

NEW DELHI, Mar 26: The Government today showered rich compliments on the Tata Group for acquiring Jaguar and Land Rover marque car brands and holding India’s flag high in the highly competitive international business.

"My congratulations to the Tatas and entire corporate world as they have held India’s private sector flag high. The world is looking at India," Commerce and Industry Minister Kamal Nath said here.

He said homegrown Indian firms have demonstrated to the global business how competent and progressive they have become even in the midst of a slowdown.

"The most important thing is that world is recognising India’s credibility".

The Tata Motors has signed the Jaguar and Land Rover (JLR) deal with Ford last evening, which is estimated to be valued between 2-2.5 billion dollars.

While Mahindra and Mahindra was also in the race, the keenly-watched contest was limited to the Indian companies in its final stage. (PTI)

Govt showers praise on Tatas for JLR deal

NEW DELHI, Mar 26: The Government today showered rich compliments on the Tata Group for acquiring Jaguar and Land Rover marque car brands and holding India's flag high in the highly competitive international business.

"My congratulations to the Tatas and entire corporate world as they have held India's private sector flag high. The world is looking at India," Commerce and Industry Minister Kamal Nath said here.

He said homegrown Indian firms have demonstrated to the global business how competent and progressive they have become even in the midst of a slowdown.

"The most important thing is that world is recognising India's credibility".

The Tata Motors has signed the Jaguar and Land Rover (JLR) deal with Ford last evening, which is estimated to be valued between 2-2.5 billion dollars.

While Mahindra and Mahindra was also in the race, the keenly-watched contest was limited to the Indian companies in its final stage. (PTI)

Pistachio prices up on better demand

NEW DELHI, Mar 26: In restricted activity, pistachio prices rose marginally by Rs 5 a kg in the wholesale dry fruits market today on scattered buying support from retailers.

However, other dry fruits prices moved in a narrow range on alternate bouts of buying or selling and settled around previous levels.

Traders said stray demand from retailers mainly helped pistachio prices to improve.

Pistachio varieties such as Irani, Hairati and Peshwari were traded higher by Rs 5 each to Rs 485-515, Rs 485-525 and Rs 515-560 per kg respectively.

Following were today's quotations per 40 kgs bag: Almond (California) new 8,600 Almond (gurbandi) 5,000 Almond (girdhi) 3,150, Almond kernel (California) 300-301 Almond kernel (gurbandi) (kg) 280-325 and Abjosh Afghani 6,000-13,000.

Chilgoza raw-new (1 kg) 380

chilgoza (roasted) (1 kg) 750

cashew kernel 1 kg (no 180) 425-430

cashew kernel (no 210) 380-385

cashew kernel no.(240) 315-320

cashew kernel (no 320) 275-280

cashew kernel broken 2 pieces 235-240

cashew kernel broken 4 pieces 205-235

cashew kernel broken 8 pieces 180-210

copra (qtl) 4,900-5,000

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

dry dates red (qtl) 2,200-7,000

fig 3,500-12,000

kishmish kandhari local 5,300-6,000

kishmish kandhari special 11,000-14,000 kiahmish indian yellow 2500-2800

kishmish indian green 2,800-3,800

pistachio Irani 485-515

pistachio Hairati 485-525

pistachio Peshawari 515-560

pistachio dodi (roasted) 340-350

walnut new 110-200

walnut kernel new (1kg) 350-500.

(PTI)

Dell to sell laptops, desktops through Croma outlets

NEW DELHI, Mar 25: Dell laptops can now be bought through a retail outlet in the country as the company today announced its tie-up with Croma, a consumer electronics retailer, to sell laptops and desktops ("Dell Products").

Beginning in April, customers will be able to experience and place a customised order for a wide range of award-winning Dell Products at select Croma stores in Mumbai, said a statement.

This announcement marks the first time that Dell Products will be made available in the country through a retail outlet. Currently all Dell products have to be ordered online.

The Dell XPS and Inspiron systems will be available at the Croma stores with distinctive Dell branding and support.

This will allow customers to touch, feel and browse, Dell Products, request for customisations of the said Dell Products to suit their specific needs as well as have them home delivered.

"Our primary goal is to create an environment where customers can experience Dell’s award-winning technology first hand. The agreement with Croma will strengthen Dell’s consumer presence in India, making our products more accessible to more customers," said Dell Vice President (sales and marketing) Michael Tatelman.

In the past several months, Dell has announced relationships with Carrefour in Europe, Best Buy and Staples in the US and Canada, Courts in Singapore, Gome in China, Bic Camera in Japan, Carphone Warehouse in the UK, DGSi and Tesco in various parts of Europe and Wal-Mart in the US, Canada, Brazil and Mexico, and Argentina.

(UNI)

Govt in a fix over Reliance’s decision to close petrol pumps

NEW DELHI, Mar 26: Government is in a fix over closure of petrol pumps by Reliance Industries over denial of subsidy on par with public sector companies, with Oil Minister Murli Deora today admitting that dealing with the situation was not easy.

"You don’t expect the Government to give subsidy to (private retailers like) Reliance and Essar (Oil). But you also cannot expect them to be penalised," he told reporters here.

Reliance plans to shut two-third of its 1,400 petrol pumps in the country by next month as it is unable to match the fuel price offered by state-run retailers, who get compensated by the Government for selling fuel below the cost.

"Its a big problem," Deora said indicating that the Government had no ready solution to deal with the situation.

He, however, said no one had approached him demanding subsidy.

Reliance and Essar make huge losses on selling petrol and diesel at prices higher than Indian Oil, Bharat Petroleum and Hindustan Petroleum. On an average, fuel at private outlets is costlier by Rs 4 to 5 a litre than the PSU pumps.

Public sector retailers too lose Rs 10.93 on sale of every litre of petrol and Rs 14.66 per litre on diesel but the losses are made up by issue of oil bonds by the Government and discounts from ONGC, GAIL and Oil India. The same compensation is not given to the private retailers like Reliance and Essar.

Reliance still lost close to Rs 5 a litre on petrol and about Rs 8 a litre on diesel and had seen its market share fall from 14.3 per cent to less than a per cent in diesel.

Reliance spokesperson was not immediately available for comments. (PTI)

S&P launches ten stock India index

NEW DELHI, Mar 26: Global index provider Standard & Poor’s today launched an index of ten Indian stocks to provide foreign investors an exposure to the domestic market.

The ‘S&P India 10 index’ comprises stocks of largest and most liquid Indian firms, including IT bellweather Infosys Technologies, private sector lenders - ICICI Bank and HDFC Bank and copper producer Sterlite Industries.

"India has ranked among the fastest-growing emerging market economies in recent years, but foreign ownership restrictions have made it difficult for international investors to gain exposure to its burgeoning equity market.

The ‘S&P India 10 index’ is designed to address this accessibility challenge. It offers investors liquidity and investability, and can also serve as a basis upon which to create investment products," Vice President of Portfolio Services for S&P Steven Goldin said in a statement.

On the basis of float adjusted market cap, the top five companies in the index are Infosys Technologies, ICICI Bank, HDFC Bank, Sterlite Industries India (American Depository Receipt) and Satyam Computer Services.

To be eligible for inclusion in the index, stocks should have a float-adjusted market capitalisation above 500 million dollars at each annual rebalancing and a six-month average daily trading value above one million dollar.

According to S&P statement, net foreign investment into the country has increased four-fold since 1998. Both exports and fixed investment have been accelerating at an average annual rate of 24.2 per cent and 15.7 per cent, respectively, since 2003, it added.

Earlier this month, the index provider had launched Indian Rupee Index and Chinese Renminbi Index, which would provide global investors an exposure to the two emerging economic giants. (PTI)

Brazil invites Indian companies to invest in sugarcane farming

NEW DELHI, Mar 26: Brazil, the world’s largest ethanol producer, has thrown open its doors to investment by Indian companies in sugarcane farming, extracting ethanol and exporting it back home for mixing in petrol.

"Yes, yes sure. They can buy ethanol manufacturing companies, invest in cane farming and producing ethanol," visiting Brazalian Minister of State for Industry and Foreign Trade Miguel Jorge told reporters after meeting Oil Minister Murli Deora here today.

While India dopes petrol with five per cent ethanol to cut its oil import dependence, petrol is Brazil is made up of one-fourth ethanol.

Brazil, he said, was encouraging India to raise the percentage of ethanol in petrol and would allow companies investing in ethanol production in Brazil to export the green fuel back home.

Deora said the Government plans to double ethanol quantity in petrol to 10 per cent from October.

State-run fuel retailers are already talking to various companies in Brazil for cane farming and ethanol production at an investment of close to 600 million dollars.

Indian Oil, Hindustan Petroleum and Bharat Petroleum will form a joint venture to take up ethanol production in Brazil. They together will have a 50 per cent stake in the joint venture, while a local Brazilian firm will have the remaining.

The partner search exercise conducted by the local consultant The Jai Group has identified four companies, including large integrated groups Louis Dreyfus Commodities Bioenergia (LDCB) and Infinity. The other companies identified are Rezek and Goiasa.

The initial ethanol production capacity being targeted is 500 million litres. (PTI)