Business Line articles from August 2010

Business Line archives from August 2010

FRONT PAGE: Reliance checks into Oberoi Hotels.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Mr Mukesh Ambani has checked into the Oberoi Hotels. A wholly owned subsidiary of Reliance Industries Ltd (RIL) has acquired 14.12 per cent stake for an estimated Rs 1,021 crore in EIH Ltd,...

FRONT PAGE: Now, level field for men and women.
August 31, 2010... from BUSINESS LINE, August 31, 2010 The Direct Taxes Code Bill proposes to end positive gender discrimination of the last 10 years in income taxation. From April 1, 2012, women could cease to enjoy special income-tax exemptions over and above...

FRONT PAGE: Pranab sweetens Direct Taxes Code for everyone.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug. 30 - The Direct Taxes Code Bill, introduced in the Lok Sabha on Monday, has sought to bring a slew of benefits for both individual tax-payers and domestic corporates from April 1,2012. ...

FRONT PAGE: Centre clears appointment of chiefs for five PSU banks.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - The Centre has cleared the decks for appointing five public sector bank chiefs. Mr S. Raman, Executive Director, Union Bank of India, will shortly assume charge of Bangalore-headquartered...

CORPORATE: Jubilant signs $33-m contract manufacturing deal with US co.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug 30 - Jubilant Organosys Ltd has signed another Custom Research and Manufacturing Services (CRAMS) contract with a US Life Sciences company. The total contract value is expected at $33 million...

CORPORATE: Glenmark plans Phase I trials on pain molecule.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Drug-maker Glenmark Pharmaceuticals plans to file an application to undertake Phase I trials on its prospective pain molecule GRC 17536, in January 2011. The company is at present close to...

CORPORATE: Bhuwalka Steel, Lootah Group tie up.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Bangalore, Aug. 30 - Bhuwalka Steel Industries (UAE) FZE, Dubai, a wholly-owned subsidiary company of Bhuwalka Steel Industries Ltd (BSIL), has entered into a memorandum of understanding (MoU) with Lootah...

CORPORATE: Continental plans to enter passenger car tyre market.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Bangalore, Aug. 30 - Continental AG is all set to enter the passenger car tyre market in India and plans to hold discussions with several Indian companies for a possible tie up. Continental AG member of the...

CORPORATE: Panel to spot toxic waste at ports.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi: The Environment Ministry has set up a committee to identify and dispose of all unclaimed hazardous waste lying in ports across the country. "A committee headed by Joint Secretary from the...

CORPORATE: 'Cairn stake sale needs ONGC consent'.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug. 30 - ONGC has said that for selling stake in Cairn India Ltd (CIL), Cairn Energy PLC, will need its consent. In a statement to the Bombay Stock Exchange (BSE) on Monday, ONGC said it had...

CORPORATE: Reliance Industries has been chosen as an investor: EIH.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug 30 - EIH, which runs the Oberoi group of hotels, said on Monday that it has chosen Reliance Industries as an investor as it does not lead to any conflict of interest. In an e-mailed response,...

NEWS: Domestic oil products sales up 2% in July.(Financial report)
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug. 30 - Higher sales of auto fuels pushed up the domestic oil products consumption in July. The oil products sale in July was up by 2 per cent at 11.42 million tonne year-on-year, according to an...

CORPORATE: Dr Reddy's to sell Quetiapine in NZ.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Hyderabad, Aug. 30 - Pharma major Dr Reddy's Laboratories Ltd has received permission to sell Quetiapine in New Zealand from Pharmac, the drug-funding agency of New Zealand Government. Quetiapine is a drug...

CORPORATE: Bids soon for Surat-Paradip, Asansol-Kolkata natural gas pipelines.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug. 30 - The Petroleum and Natural Gas Regulatory Board (PNGRB) will soon invite bids for two natural gas pipelines - the 1,700-km Surat-Paradip pipeline and the 300-km Asansol-Kolkata pipeline,...

CORPORATE: Aevum Bio Labs has promising molecules.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Hyderabad, Aug. 30 - Aevum Bio Labs, a start-up company has developed two promising drug candidates targeted at HIV and ALS, a neurological disorder. At present ALS or Amiotropic Lateral Sclerosis, which is...

CORPORATE: Gabriel India to pump in Rs 300 cr on capacity, R&D over four years.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug. 30 - Gabriel India, maker of automotive shock absorbers and two-wheeler front forks, said on Saturday that it plans to invest Rs 250-300 crore over the next 3-4 years on expanding capacity and...

NEWS: Correction.(Correction notice)
August 31, 2010... from BUSINESS LINE, August 31, 2010 With reference to the story 'Cairn eyes 300 m barrels/day more from Rajasthan field' published in the edition dated August 30, the incremental output should read 300 million barrels and not 300 million barrels...

CORPORATE: Century Real Estate raises Rs 100 cr through NCDs.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Bangalore, Aug. 30 - Century Real Estate, a Bangalore-based full- service real estate development company recently raised Rs 100 crore through a private placement of non-convertible debentures (NCDs),...

CORPORATE: Rio Tinto to invest Rs 370 cr in M.P. diamond exploration.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Global mining giant Rio Tinto would be investing Rs 370 crore over the next three years in diamond exploration and production at Bunder mines in Chhatarpur, Madhya Pradesh. Addressing the...

NEWS: Indonesia keen on attracting more Indian investments.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Chennai, Aug. 30 - A number of Indian companies (including the Tatas and Reliance) have invested in coal mines in Indonesia and the public sector aluminium major, Nalco, is investing Rs 18,000 crore for...

NEWS: Welcome move, say experts.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug 30 - India Inc on Monday welcomed the proposals of the new Direct Taxes Code (DTC) Bill but did express some concerns that 'not enough' has been done. "The proposed new DTC is a welcome move,...

NEWS: Auto sector happy over lower tax rate, MAT.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug. 30 - The auto industry has largely welcomed the Direct Taxes Code (DTC), in the current form discussed in the Lok Sabha on Monday. A lower effective Corporate Tax rate at 30 per cent, from...

NEWS: Big changes in international tax mooted.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug 30 - The Direct Taxes Code Bill 2010 has introduced controlled foreign company (CFC) rules. This will create a reporting and tax requirement in respect of assets held abroad. The Bill has...

NEWS: The creeping march of MAT.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug 30 - The Minimum Alternative Tax has been gradually increased over the years. Introduced in 1987-88 as Book Profit Tax of 10 per cent after adjusted book profit, it has now scaled to two-thirds...

NEWS: MAT hike a little harsh, says Essar Group.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug 30 - The hike in Minimum Alternative Tax did not go down well with some corporates, though they felt it was in the offing. Ms S. Gayathri, Group Head, Direct. Taxes, Essar Group, said the Direct...

NEWS: Proposals draw mixed response from banking, financial sectors.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug 30 - There were mixed views on the Direct Taxes Code from the banking, financial services segment. Some felt the direction for the next three years was known, while others said it discourage...

NEWS: 'Why are rich farmers left out'.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Mr Prateek Agrawal, Vice-President and Head Equity, Bharti Axa Investment Managers, said: "While corporate and non-agriculture individuals are taxed, agriculturists have been left out of the...

NEWS: Centre may lose Rs 53,000 cr in 2012-13 due to changes in code.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug. 30 - The Revenue Secretary, Mr Sunil Mitra, said on Monday that the changes proposed in the Direct Taxes Code (DTC) Bill, 2010 will result in revenue losses to the tune of Rs 53,172 crore for...

NEWS: Initiatives for medium, small units by year-end.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug. 30 - All recommendations of the Prime Minister's Task Force for the Micro, Small and Medium Enterprises (MSME) will be implemented by the end of December, said the Minister of State,...

NEWS: Textile industry body wants calibrated cotton exports.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Even as the Commerce Ministry has asserted that raw cotton exports will re-commence from October 1, action has shifted to New Delhi where industry and trade groups are doing the rounds of...

NEWS: Centre's project execution slips further on land, funding issues.
August 31, 2010... from BUSINESS LINE, August 31, 2010 NTPC's Koldam HEP hydro power project, originally due for commissioning by April 2009 is now anticipated to come up only by December 2011. This is just one among the many public sector projects that have...

NEWS: Rajya Sabha clears nuclear liability Bill.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug. 30 - The path has been cleared for victims of a nuclear accident to claim higher compensation than earlier. This follows the Rajya Sabha clearing the Civil Liability for Nuclear Damage Bill...

MARKETING: Bisleri to launch face spray.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug. 30 - Bisleri, the packaged drinking water major, plans to launch face sprays soon. According to Mr R.K. Garg, Director- North, Bisleri International Pvt Ltd, the face spray is undergoing...

MARKETING: Chennai Super Kings serves up Muralidharan 800.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Chennai, Aug. 30 - A bright yellow cricket jersey with the number 800 and the name Muralidharan emblazoned on the back could well be the next major memorablia that a Chennai Super Kings fan may want to...

NEWS: India, Switzerland revise tax pact.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug. 30 - Switzerland and India signed, on Monday, a protocol for revision of the existing double taxation agreement (DTA). The protocol for an amendment in the area of taxes on income was signed by...

NEWS: Seven payloads firmed up for Chandrayaan-2.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Bangalore, Aug. 30 - ISRO on Monday said a national committee of experts has finalised seven payloads that will go on the second lunar mission, Chandrayaan-2, sometime in 2013. At least two key instruments...

BANKING/FINANCE: FII holding in ING Vysya Bank hits trigger limit.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - The Reserve Bank of India on Monday said foreign institutional investor holding in ING Vysya Bank Ltd has reached the trigger limit of the bank's paid-up capital. Further purchases of the...

BANKING/FINANCE: ING Life India unveils plan for children.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Madurai, Aug. 30 - ING Life India, part of the global financial institution of Dutch origin ING Group with AUM (assets under management) of Rs 4,500 crore, has launched a child product 'ING Aashirvad'. ...

BANKING/FINANCE: G-Sec auction.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Monday, Aug 30 - The Central government will raise Rs 12,000 crore by auctioning three dated securities on Spetember 3, according to a Reserve Bank of India release on Monday. The government will auction Rs...

BANKING/FINANCE: LVB aims at pan-India presence with new team.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Madurai, Aug. 30 - Lakshmi Vilas Bank has announced a new management team drawing from the pool of senior executives from leading foreign and Indian private sector banks. The task of this new team is to...

BANKING/FINANCE: Marginal dip in rupee.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - The rupee was flat against the dollar on Monday in a range-bound market. The currency opened at 46.78 and weakened to close at 46.91. On Friday, the rupee had closed at 46.90. The rupee...

BANKING/FINANCE: Bond prices flat.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Bond prices were flat on concerns of high inflation and likelihood that the Reserve Bank of India may further hike interest rates, said dealers. According to a bond dealer with a private...

BANKING/FINANCE: Call rates end lower.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Call rates closed at 5.10-5.2 per cent, lower from the previous close of 5.2-5.3 per cent. In the one-day reverse-repo auction, under the liquidity adjustment facility, the RBI received and...

BANKING/FINANCE: Union Bank hikes term deposit rates.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Union Bank of India has increased the interest rates on domestic term deposits by 25 to 100 basis points, across maturities of seven days to 10 years. The new rates will apply to deposits...

BANKING/FINANCE: RBI sets timeline for risk management framework.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug 30 - The Reserve Bank of India has specified a detailed time frame for implementation of advanced approaches to calculate capital charge and hence the risk capital required to be allocated for...

BANKING/FINANCE: Tax code is mixed bag for life insurers.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug 30 - The Direct Taxes Code (DTC), as tabled in Parliament on Monday , seems to have a "mixed bag" of implications for the life insurance industry. While the Government has paid heed to the...

INFO-TECH: ITI, KEC-Finolex bid for Defence cable network hits a snag.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug 30 - Bids submitted by Indian Telephone Industries and KEC-Finolex for the Rs 9,000-crore Defence optical fibre cable network have run into rough weather with the technical committee finding...

INFO-TECH: Nokia launches dual-SIM phones.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug 30 - In a bid to capture lost market share in the Indian market, Nokia unveiled, on Monday, its long-awaited dual-SIM- based handsets - the Nokia C1 (C1-00) and Nokia C2 (C2-00). Nokia was...

INFO-TECH: BlackBerry-maker gets two-month reprieve.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug. 30 - BlackBerry users can continue to use all the services available on the device with the Government on Monday agreeing to test the solutions offered by Research In Motion (RIM) to enable...

INFO-TECH: Claude Smadja to retire from Infosys board.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Bangalore, Aug. 30 - Infosys Technologies announced on Monday that in accordance with the retirement policy for the company's board of directors, Mr Claude Smadja, Independent Director, will retire from the...

INFO-TECH: IT industry unhappy with 20% MAT levy on SEZs.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Chennai, Aug. 30 - The Indian IT industry today lamented the proposed imposition of a 20 per cent Minimum Alternative Tax (MAT) on Special Economic Zones (SEZ) as per the Direct Tax Code (DTC) Bill tabled...

INFO-TECH: Tax code prescribes formula for Vodafone-type cases.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - The Direct Tax Code has prescribed a formula for calculation of income tax on transactions akin to the one involving Vodafone and its acquisition of a controlling stake in Hutchison Essar. ...

INFO-TECH: Four Soft bags contract in US.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Hyderabad, Aug. 30 - Four Soft Ltd has signed a contract with the US-based customs broker HJM International Inc to implement its order for a management system and global freight forwarding application. The...

INFO-TECH: Ericsson takes a minority stake in Novatium.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Chennai, Aug. 30 - Ericsson, provider of technology and services to telecom operator, has acquired a minority stake in Novatium Solutions Private Ltd for an undisclosed sum. This is aimed to speed up the...

OPINION: Middle-class.
August 31, 2010... from BUSINESS LINE, August 31, 2010 The article "Myth called Indian middle-class" is absolutely right. MNC consultancies such as McKinsey enjoy certain privileges, but what is incredible is that almost all such companies refer to these data...

OPINION: Cotton exports.
August 31, 2010... from BUSINESS LINE, August 31, 2010 The editorial "Cotton Cheer" ( Business Line, August 30) is sure to generate optimism amongst raw cotton growers and exporters too. With the ban lifted from the ensuing kharif season, beginning October this...

OPINION: Vedanta and its fallout.
August 31, 2010... from BUSINESS LINE, August 31, 2010 The denial of permission by the Environment Ministry to Vedanta Resources' bauxite mining project in Lanjigarh in Orissa's Kalahandi region, citing the violation of various laws, and the subsequent visit of...

OPINION: Fair disclosure.
August 31, 2010... from BUSINESS LINE, August 31, 2010 It was a long overdue investor protection measure and it is just as well that it has finally come to fruition. The Securities and Exchange Board of India (SEBI) needs to be complimented for pressuring the...

OPINION: Time to put China in its place.
August 31, 2010... from BUSINESS LINE, August 31, 2010 China's is an ancient civilisation. It can legitimately pride itself on the quintessential wisdom of thinkers and philosophers who have left their impact on every aspect of life. Indeed, the Chinese polity has...

OPINION: Remembering Kashmir.
August 31, 2010... from BUSINESS LINE, August 31, 2010 The last time I was in Srinagar was more than two decades ago. A circular reached the colleges under Kerala University that a national-level debating competition for the Sheikh Abdullah Rolling Trophy was due...

OPINION: For a balanced cotton export policy.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Cotton is turning out to be a hugely profitable crop for our farmers, ever since BT cotton was allowed. Unlike in the case of foodgrains, where farmers are forced by export bans to sell the produce at lower...

OPINION: FDI in retail - The ground realities.
August 31, 2010... from BUSINESS LINE, August 31, 2010 The discussion on allowing foreign direct investment in multi-brand retail trade - triggered by a draft on the subject prepared by the Department of Industrial Policy and Promotion (DIPP) - has so far been...

MARKET WATCH: Reliance pays 36% premium for stake in EIH.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Reliance Industries, the country's largest company by market capitalisation seems to have homed in on the domestic hospitality sector, with its purchase of a 14.2 per cent stake in EIH, the company that runs...

MARKET WATCH: Tax code proposal on capital gains neutral.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Equity investors may heave a sigh of relief with the Bill proposing the Direct Taxes Code 2010 stating that there would be 'nil' income from long-term capital gains arising from sale of equity shares and...

MARKET WATCH: United exchange launch put off.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - United Stock Exchange of India (USE) on Monday said that it has postponed its launch scheduled for August 31. The United Stock Exchange of India (USE) scheduled launch on Tuesday, August...

MARKET WATCH: Cheaper raw materials place Pantaloon Retail in profit.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Pantaloon Retail (PRIL) closed its financial year ending June 2010 with a 64 per cent increase in net profits on a standalone basis, largely on account of higher other income. On a consolidated basis, the...

MARKET WATCH: Corporate News.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Coimbatore, Aug. 30 - Kingfisher Airlines Ltd's board of directors will on August 31 consider raising further capital by issue of equity shares and/or preference shares and/or Global Depository Receipts (GDRs)...

MARKET WATCH: Thematic funds losing fizz.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Thematic funds, particularly infrastructure funds, may soon be losing their charm, say analysts monitoring the funds' performance in the last three years. Infrastructure funds that were a...

MARKET WATCH: Pramerica Liquid Fund collects Rs 665 cr.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Pramerica Liquid Fund, an open-ended scheme, has collected over Rs 665 crore in its new fund offer. The NFO opened for subscription on August 23 and closed on August 26. The fund, which...

MARKET WATCH: New equity head for Macquarie Capital.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Macquarie Capital today announced the appointment of Mr Sanjay Aggarwal as Head of Equity Capital Markets (ECM) in India. Mr Aggrawal, who is based in Mumbai, has more than 11 years...

MARKET WATCH: HCL Infosystems (Rs 118.1): Sell.
August 31, 2010... from BUSINESS LINE, August 31, 2010 We recommend a sell in the stock of HCL Infosystems from a short- term perspective. It is evident from the charts of the stock that it has been on an intermediate-term downtrend from its October 2009 peak of...

MARKET WATCH: Day Trading Guide.
August 31, 2010... from BUSINESS LINE, August 31, 2010 DLF We reiterate our prior sell recommendation in DLF with stiff stop-loss at Rs 313 levels. ICICI Bank Utilise rallies to sell the counter while maintaining tight stop-loss at Rs 980 levels with stiff...

LOGISTICS: Mundra Port begins operations at Dahej.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Ahmedabad, Aug. 30 - The Adani Group-promoted Mundra Port and SEZ Ltd (MPSEZL) has announced commencement of operations at its 20 million tonnes a year (mtpa) dry bulk cargo terminal at Dahej in Bharuch...

LOGISTICS: Mercator eyes 50% revenue from non-shipping business.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Mercator Lines is expecting around 50 per cent of its revenues to come from its non-shipping businesses in the next two years. "We have seen a steady growth in all our non-shipping...

LOGISTICS: GoAir may be forced to lower fares due to competition.
August 31, 2010... from BUSINESS LINE, August 31, 2010 New Delhi, Aug. 30 - Low-cost carrier GoAir is likely to be forced to decrease fares due to competition. "Air India's cut in fares comes at a wrong time. It will increase the pressure on the margins of...

NEWS: Rise in rough diamond prices a cause for concern.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - A sharp rise in rough diamond prices is a cause for concern to the cut and polish diamond industry, which is on the threshold of recovery with increasing volumes and better realisations after...

COMMODITIES: Low arrivals lend colour to turmeric.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Erode, Aug. 30 - Turmeric prices increased on poor arrivals. Prices increased Rs 100 a quintal on Monday. In the Erode Private Turmeric Merchants Association market, the finger variety of turmeric was sold...

COMMODITIES: Limited retail purchase floors sugar.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Spot sugar prices on the Vashi wholesale market dropped slightly on limited retail demand and lack of fresh buying by stockists at the mill level. Expectations of an impending announcement...

COMMODITIES: Buying drives up groundnut oil.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Mumbai, Aug. 30 - Prices of imported edible oils such as palmolein and soya oil moved in opposite directions on Monday. Palmolein was down by Rs 3 for 10 kg on lack of demand coupled with month-end selling...

COMMODITIES: Weak offtake pounds jeera.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Rajkot, Aug. 30 - Lower export demand and weak domestic cues put the price of jeera under more pressure on both spot and futures market. Jeera September futures on the National Commodity and Derivatives...

AGRI-BUSINESS: Chana perks up on bullish futures.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Indore, Aug. 30 - A bullish trend in the futures market lifted chana prices in the spot market to Rs 2,235-2,250 a quintal, up Rs 25. Trading of chana in the spot market on Monday morning opened at Rs...

COMMODITIES: Low export demand halts rally in rice.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Karnal, Aug. 30 - After last week's rally, prices of basmati witnessed some correction in the rice market. The rates dropped by Rs 100 a quintal. Low export demand pulled the market down. On Monday,...

AGRI-BUSINESS: Cashew continues to rule firm.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Kochi, Aug 30 - The cashew market was quiet last week but continued to rule firm with some business taking place in certain grades. Some transactions were concluded for W240 at around $3.5 and W320 at around...

AGRI-BUSINESS: Coonoor tea prices fall 25%.
August 31, 2010... from BUSINESS LINE, August 31, 2010 Coonoor, Aug 30 - Prices at the auctions of the Coonoor Tea Trade Association are currently ruling 25 per cent lower compared to this time last year, reveals an analysis of the Market Report. This week,...