Business Line articles from July 2010

Business Line archives from July 2010

FRONT PAGE: Insurers violating cashless mediclaim terms face fine.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - The Chairman of the insurance regulator Insurance Regulatory and Development Authority (IRDA), Mr J. Hari Narayan, said on Friday that action will be taken against insurance companies...

FRONT PAGE: Mining: GoM for profit-sharing with land losers.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - The Group of Ministers on the new mining legislation has suggested setting up an effective mechanism to ensure that profits are shared by companies with land losers. Besides, it also...

FRONT PAGE: Satyam accounts restatement is Rs 50-cr windfall for audit firms.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - Mahindra Satyam may end up paying a huge fee for restatement of its book of accounts that were allegedly fudged by its former Chairman Mr B. Ramalinga Raju. Indications are that the...

FRONT PAGE: BPCL posts Rs 1,718-cr net loss on under-recoveries.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - Bharat Petroleum Corporation has reported a net loss of Rs 1,718.10 crore for the quarter ended June 30 compared to a profit of Rs 614.12 crore in the same period last year. Net sales rose...

FRONT PAGE: Magnificent Mary enters the sponsorship ring.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - After pugilist Vijender Singh's multi-crore endorsement deals, it's the turn of women's boxing sensation M.C. Mary Kom to step into the marketing arena, albeit on a modest scale. The...

CORPORATE: R-Infra net up 6% at Rs 375 cr.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - Reliance Infrastructure reported a six per cent rise in net profit at Rs 375 crore for the quarter ended June 30, 2010 against Rs 355 crore in the same period of last year. Total income grew...

CORPORATE: NTPC commissions 490 MW unit at Dadri.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - State-run NTPC Ltd said on Friday it has commissioned a 490-MW expansion unit at its Dadri thermal project site for the upcoming Commonwealth Games. With the commissioning of this project,...

CORPORATE: RNRL profit down at Rs 10 cr.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - Reliance Natural Resources Ltd (RNRL) has registered a 41 per cent drop in net profit at Rs 10 crore for the quarter ended June 30, 2010 against Rs 17 crore in the corresponding period last...

CORPORATE: RPower net down 25% at Rs 195 cr.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - Reliance Power, an Anil Dhirubhai Ambani Group company, has registered a 25 per cent drop in net profit at Rs 195 crore for the quarter-ended June 30, 2010, as against Rs 263 crore logged in...

CORPORATE: Honda Motorcycles happy with performance in entry-level segment.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - After recently entering the commuter motorcycle segment with the 110cc CB Twister, Honda Motorcycles and Scooters India (HMSI) said that it is satisfied with the progress in the mass...

CORPORATE: Maruti gears up to add more muscle with new Alto.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - In the face of a falling market share this fiscal due to increased competition in the A2 segment, car market leader Maruti Suzuki India Ltd (MSIL) is now gearing up to launch a more powerful...

CORPORATE: Tata Chem net zooms to Rs 216 cr on higher sales.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - Tata Chemicals reported that its net profit has grown five times to Rs 216 crore in the quarter ended June 30, against Rs 43 crore logged in the same period last year. Sales were up six per...

CORPORATE: Indian Hotels net declines 81% on cost burden.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - The continued closure of the heritage wing of Taj Mahal Palace & Tower, besides a lean tourist season, led to a fall of 81 per cent in Indian Hotels Company's net profit for the three...

CORPORATE: Century Plyboards to finalise revamp plan in Sept.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Kolkata, July 30 - The board of Century Plyboards India Ltd at its forthcoming meeting in September will finalise the proposed business restructuring plan. The board has already accorded in-principle approval to...

CORPORATE: ABB net down 54% on pricing pressure.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Bangalore, July 30 - ABB Ltd India suffered a second-quarter net profit decline of 54 per cent year-on-year to Rs 38.3 crore (Rs 83.60 crore). The power and automation technologies major attributed the fall...

CORPORATE: SCI net rises 60%.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - Shipping Corporation of India has posted a 60-per cent increase in its net profit at Rs 191.49 crore for the first quarter ended June 30, 2010, against Rs 119.92 crore in the same quarter last...

CORPORATE: Chennai desal project will open new opportunities: IVRCL.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Chennai, July 30 - IVRCL Infrastructures now has the proven ability to handle EPC for large desalination plants with the launch of the 100 mld desalination plant in Chennai, according to Mr S. Ramachandran,...

CORPORATE: Heritage Foods posts Rs 1.47-cr loss.(Financial report)
July 31, 2010... from BUSINESS LINE, July 31, 2010 Hyderabad, July 30 - Heritage Foods (India) Ltd posted a loss of Rs 1.47 crore on a turnover of Rs 254 crore for the quarter ended June 30, 2010, as against a net profit of Rs 1.30 crore and turnover of Rs 220...

CORPORATE: Strides Arcolab gets FDA nod for 12th injectable drug.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Bangalore, July 30 - Strides Arcolab Ltd on Friday said the US Food and Drug Administration (FDA) has approved two drugs, taking its tally of approved injectables to 12. Rocuronium Bromide is a muscle...

CORPORATE: Out of BIFR, IFB to invest Rs 62 cr in capacity expansion.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Kolkata, July 30 - IFB Industries is investing in modernising and expanding capacities in its auto component and washing machine units. Mr Bikramjit Nag, Joint Executive Chairman and Managing Director of the...

CORPORATE: Kalpataru Power net rises to Rs 37 cr.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai: Kalpataru Power Transmission has reported a 15-per cent rise in net profit at Rs 37 crore for the quarter-ended June 30, 2010 as against Rs 32 crore logged in the same period of last year. Revenues were...

CORPORATE: Hindustan Construction profit up 55%.(Financial report)
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - Hindustan Construction Company has posted a 55 per cent rise in net profit at Rs 28 crore for the quarter ended June 30, 2010 compared with Rs 18 crore logged during the same period a year ago....

CORPORATE: Eveready may rejig product portfolio.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Kolkata, July 30 - Eveready Industries India Ltd is likely to restructure its product portfolio - weeding out those which do not give benchmarked EBIDTA (Earnings Before Interest Depreciation Taxes and...

CORPORATE: British Airways incurs USD164-m pre-tax loss in Q2.(Financial report)
July 31, 2010... from BUSINESS LINE, July 31, 2010 London, July 30 - A USD164-million quarterly pre-tax loss may sound like nothing to write home about but British Airways is hoping it may soon prove a turning point. Announcing the second quarter loss, Chief...

CORPORATE: Saint Gobain to set up world's largest float glass line.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Kolkata, July 30 - Saint Gobain Glass India Ltd, a fully owned subsidiary of the EU6-billion Saint Gobain France, has firmed up plans to set up world's largest float glass line in India at an investment of Rs...

CORPORATE: MAG India bags order for 5 MW solar unit.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Hyderabad, July 30 - MAG India Industrial Automation Systems, part of MAG Europe, has announced it has bagged an order for 5 MW of solar power plant from GS Power, planned at Bagalkot in Karnataka, to be...

CORPORATE: Top-level changes at Granules India.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Hyderabad, July 30 - Granules India, a formulations manufacturer, has made top level changes. Mr Bhaskar Krishna Arumugam will be the new Chief Executive Officer (CEO), Mr Pranesh Raj Mathur will be the...

CORPORATE: Arvind Ltd Q1 net doubles to Rs 19 cr.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Ahmedabad, July 30 - Leading integrated textile, apparel and branded apparel player Arvind Ltd has registered 108 per cent growth in net profit and 11 per cent in consolidated revenues during the first quarter...

BANKING/FINANCE: Forex reserves rise $1.03 b.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - Foreign exchange reserves were up $1.037 billion to $282.938 billion for the week ended July 23, on account of revaluation gains. This is the seventh consecutive week during which the...

BANKING/FINANCE: Rupee gains 14 paise against dollar.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - The Indian rupee gained by around 14 paise against the dollar on Friday on the back of capital flows into the country. The domestic currency opened at 46.60 and strengthened to close at the...

BANKING/FINANCE: RBI discontinues second LAF.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - The inter-bank call rate ended marginally higher at 4.9-5 per cent , against the previous close of 4.5-4.6 per cent. With banks having borrowed ahead to meet their fortnight-end requirements,...

BANKING/FINANCE: Banks get more time.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai: The Reserve Bank of India has given banks more time to meet its stipulations on their capital market exposures. The deadline has been extended from July 31 to September 30. Copyright 2010 Business Line

BANKING/FINANCE: Inflation- of various kinds.
July 31, 2010... from BUSINESS LINE, July 31, 2010 The Reserve Bank of India has declared a 3 per cent inflation goal. Why 3 per cent? Because it's near enough to the target of the European Central Bank and Bank of England? (Their's is 2 per cent). World...

BANKING/FINANCE: Karnataka Bank mulls 2:5 rights issue.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mangalore, July 30 - Robust growth in net interest income and reduction in cost of deposits have helped Karnataka Bank to register a growth of 16.02 per cent during the first quarter of the current financial...

BANKING/FINANCE: Bond prices fall.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - Bond prices fell as the market continued to be nervous over further monetary action, said dealers. Comments that diesel prices may be freed also added to negative sentiments as the move could...

BANKING/FINANCE: RBI fines ICICI Bank, StanChart.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - The Reserve Bank of India, on Friday, imposed a penalty of Rs 5 lakh each on ICICI Bank and Standard Chartered Bank. In case of the former, the penalty is for violation of Know Your...

BANKING/FINANCE: Higher NPA provisioning dents Federal Bank net.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Kochi, July 30 - The net profit of Federal Bank has registered a fall at Rs 131.86 crore in the first quarter of the current fiscal, against Rs 136.38 crore reported in the first quarter of the previous fiscal....

BANKING/FINANCE: More banks hike deposit rates.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - More banks announced they are raising interest rates on fixed deposits, following the increase in key policy rates by the Reserve Bank of India. On Friday, Bank of Baroda and Kotak Mahindra...

BANKING/FINANCE: Joins Magma Fincorp board.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Kolkata, July 30 - Mr S. B. Ganguly, Chairman Emeritus, Exide Industries Ltd, has joined the board of Magma Fincorp Ltd as a non- executive director, according to a company release. Copyright 2010 Business Line

BANKING/FINANCE: Currency options on $/rupee coming.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - The Reserve Bank of India and the Securities and Exchange Board of India on Friday decided to allow recognised stock exchanges to introduce plain vanilla Currency Options on US dollar/ rupee...

INFO-TECH: Accenture, Mahindra Satyam, L1 Identity win UIDAI's biomentric project.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Hyderabad/New Delhi, July 30 - The Unique Identification Authority of India (UIDAI) has selected three consortia led by Accenture, Mahindra Satyam-Morpho, and L1 Identity Solutions, to implement the core...

INFO-TECH: Qualcomm to net $58 m from stake sale in broadband unit.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - Phone chip maker Qualcomm has agreed to sell 26-per cent stake in its broadband venture to Indian firms, Global Holdings and Tulip Telecom, for about $58 million (about Rs 268 crore). ...

INFO-TECH: Andre Beyers is Airtel's marketing chief for Africa.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - Bharti Airtel announced the appointment of Mr Andre Beyers as the Chief Marketing Officer for its African operations. The company recently acquired the mobile services operations of Zain...

INFO-TECH: Innovation leads to technological development: Kalam.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Bangalore, July 30 - "A nation has to evolve as a knowledge centre through innovation and creativity," said the former President, Mr A..P.J Abdul Kalam, at an event to mark the completion of 25 years of the...

MARKETING: Pizza-maker Jubilant's net up.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - Jubilant FoodWorks Ltd, which operates Domino's Pizza in India, has posted a rise in its net profit to Rs 15.3 crore for the first quarter ended June 30, 2010, as against Rs 3.4 crore in the...

MARKETING: Best Employer Brands Award for Adani HR chief.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Ahmedabad, July 30 - Asia's Best Employer Brands Award for HR Leadership has been conferred on Mr Pradipta Panda, Group President, Human Resources, Adani Group, among others. The award was hosted by the...

MARKETING: Reliance Big, Universal in talks for $1.5-b theme park.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - The Anil Ambani-promoted Reliance Big Entertainment (RBE) is in talks with Universal Studios to build a theme park in India, similar to those in the US, Singapore and Japan, with...

NEWS: Bill seeks to set up frontline science academy.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - A Bill seeking to establish an Academy of Scientific and Innovative Research was introduced in the Lok Sabha on Friday. Introducing the Academy of Scientific and Innovative Research Bill...

NEWS: Short-term power market sees high-voltage action.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - At over Rs 17,600 crore in March 2010, the short-term power market in the country, involving transactions through power traders and deals on the power exchanges, has grown over seven-fold...

NEWS: CPI for industrial workers up.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - The Consumer Price Index-based inflation for industrial workers rose 13.73 per cent in June from a year earlier, marginally slower than May's annual rise of 13.91 per cent, Government data...

NEWS: Petro Ministry, UIDAI ink pact for smartcard.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - The Ministry of Petroleum and Natural Gas, the administrative ministry for the three public sector oil market companies (OMCs), and the Unique Identification Authority of India (UIDAI) have...

NEWS: Petro product sales rise 1.8%.(Financial report)
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - The domestic oil product sales in June rose by 1.8 per cent to 12.01 million tonnes year-on-year, driven by higher demand for auto fuels. Petrol consumption in June rose 12.7 per cent to...

NEWS: Cabinet to give banks Rs 4,868-cr as farm loan subvention.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - The Union Cabinet on Friday approved release of Rs 4,868 crore as interest subvention to public sector banks (PSBs), Regional Rural Banks (RRBs) and cooperative banks. This interest...

NEWS: Apex court rejects Kingfisher plea to stay probe against Jet tie-up.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - The Supreme Court on Friday refused to entertain a plea by Kingfisher Airlines to stay a probe by the anti- monopoly watchdog, the Competition Commission of India (CCI), into the strategic...

NEWS: 'Economic reality requires us to shift to global accounting rules'.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Chennai, July 30 - A number of major initiatives that impinge on Corporate India are in the stage of fruition - the Companies Bill, IFRS and steps to make Limited Liability Partnerships (LLPs) more effective. ...

NEWS: Ministry urges industry players to tap off-grid solar applications.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Hyderabad, July 30 - The Secretary of the Ministry of New and Renewable Energy, Mr Deepak Gupta, has called upon the solar photo voltaic industry players to look at opportunities in the off grid applications,...

NEWS: NTC's Podar Mill land in Mumbai gets Rs 307-cr bid.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Thiruvananthapuram, July 30 - The 2.39-acre Podar Mill property of the National Textile Corporation (NTC) undergoing e-auction has received a bid of Rs 307.2 crore on Friday. The prime property has a reserve...

NEWS: Inflation will come down to 6% by December, says Montek.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Bangalore, July 30 - The current inflation situation is not comfortable, but will get down to around 6 per cent by December, the Deputy Chairman, Planning Commission, Mr Montek Singh Ahluwalia, said at an...

NEWS: HCL Infosystems sets up control centre at Delhi's Terminal 3.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - IT hardware and systems integration company HCL Infosystems on Friday announced the deployment of Airport Operation Control Centre (AOCC) for the new T3 terminal at the Delhi International...

OPINION: Paying the price for populism.
July 31, 2010... from BUSINESS LINE, July 31, 2010 The National Development Council (NDC) which met on July 24, two days before the opening of the Monsoon session of Parliament began, was, understandably, concerned about agricultural production, food security...

OPINION: Mixed quarter for India Inc.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Having made rosy profit projections for companies and pinned their hopes on earnings 'surprises' as well, stock market participants are now finding that the June quarter earnings offer little cause for euphoria....

OPINION: Financial regulation: More questions than answers.
July 31, 2010... from BUSINESS LINE, July 31, 2010 The agenda being developed for the strengthening of financial sector regulation and supervision is ambitious and contentious. There is general agreement on the need to put in place a regime of macro- prudential...

OPINION: Contingent capital.
July 31, 2010... from BUSINESS LINE, July 31, 2010 The write-up "Contingent Capital captures interest" ( Business Line, July 29) made interesting reading .The author has rightly stated that contingent capital allows banks to enjoy the best of both the worlds. ...

OPINION: Rural banking.
July 31, 2010... from BUSINESS LINE, July 31, 2010 This refers to the editorial "Banks and the financially neglected" ( Business Line, July 30). The expansion of rural banks is comparatively less. The recent launch of savings balance of Rs 1 by the SBI is a role...

TAXATION: Trends in I-T refund.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Report No. 7 of 2009-10 of the Comptroller and Auditor General of India (CAG) is exclusively devoted to the examination of systems and procedures relating to grant of income-tax refunds during 2005-09. ...

TAXATION: Economics and politics of 'green'.
July 31, 2010... from BUSINESS LINE, July 31, 2010 What happens when a town council decides to promote renewable energy? It comes up with new and modified policies in that direction. At times, the proposed changes can be so drastic as to create revulsion among...

TAXATION: Adopting the middle path.
July 31, 2010... from BUSINESS LINE, July 31, 2010 When companies operate in more than one national jurisdiction, taxes are levied on their profits based on either the principle of residence or the principle of source. The governing principle is that the same...

TAXATION: Open offer tax inequity.
July 31, 2010... from BUSINESS LINE, July 31, 2010 The SEBI panel on takeover reforms, which has made extensive and sweeping changes to the extant takeover regime in India, has also bemoaned the lack of tax parity between transactions in the recognised stock...

FEATURES: Power: Deficit then, surplus now, exporter soon.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Early in this decade, when the countrywas suffering from inadequate availability of natural gas and was importing the costly liquefied natural gas (LNG) from abroad to fuel the growth engine, Tripura was sitting...

MARKET WATCH: PSU banks' mutual fund investments jump 44%.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - State-owned banks are clearly getting more bullish on mutual funds going by their recent investment trend in such instruments. Their cumulative investments in mutual funds touched Rs...

MARKET WATCH: NSE, Tokyo bourse in talks for cross-listing.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - The National Stock Exchange is in talks with the Tokyo Stock Exchange to enable cross-listing of Tokyo Stock Exchange's benchmark index (TOPIX) exchange traded fund (ETF) here on the NSE...

MARKET WATCH: Edelweiss net up 5% on investment banking biz.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - Edelweiss Capital's consolidated net profit for the year ended rose five per cent during the quarter ended June 30, 2010 due to its robust investment banking and advisory business. Net...

MARKET WATCH: India Infoline net profit declines 16.5%.(Financial report)
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - The consolidated net profit of India Infoline dropped 16.5 per cent during the first quarter of the current fiscal to Rs 43.1 crore from Rs 51.6 crore during the corresponding year- ago...

MARKET WATCH: Engineers India issue subscribed 13.36 times.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - The follow-on offer of Engineers India (EIL), which closed for non-qualified institutional buyers (QIB) on Friday, was subscribed 2.35 times by retail participants and 5.85 by High Networth...

MARKET WATCH: IPO norms for life insurance companies soon.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - The Chairman of the Insurance Regulatory and Development Authority of India, Mr J. Hari Narayan, said on Friday that the norms for public offer by life insurance companies are almost ready...

MARKET WATCH: IL&FS Investment acquires Saffron Assets.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - IL&FS Investment Managers has acquired Saffron Assets Advisors Pvt. Ltd, the Indian arm of Saffron Capital Securities Ltd, a Mauritius-based financial advisory firm. The company said...

MARKET WATCH: Motilal Oswal ETF makes a listing in NSE.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - Motilal Oswal Asset Management Company, which has mobilised Rs 235 crore through the equity ETF scheme, has got listed on the NSE on Friday. The MOSt Shares ETF closed at Rs 78.47, a gain of...

LOGISTICS: Congestion leads to low productivity at Kochi box terminal.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Kochi, July 30 - The onset of the south-west monsoon and the peak West Africa raw cashew imports season haveresulted in the drop of productivity levels at the container terminal of Kochi port to an all-time low...

LOGISTICS: 6 airports to charge user development fee from Aug.
July 31, 2010... from BUSINESS LINE, July 31, 2010 New Delhi, July 30 - International passengers travelling from Thiruvanthapuram will have to pay an additional Rs 755 for their flight from Sunday. This follows the Government allowing Airports Authority of...

LOGISTICS: Mir group bags freight corridor consultancy project.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Kochi July 30 - Beating 15 contenders, the Kerala-based Mir group has won the consultancy project for the Dedicated Freight Corridor rail project to link the Jawaharlal Nehru Port in Mumbai to Tughlakabad and...

COMMODITIES: Ramadan demand drives onion higher.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Chennai, July 30 - A strong demand during Ramadan from West Bengal lifted onion prices this week by almost Rs 100 a quintal. Most of the gains came on Monday and Tuesday when the prices increased by Rs 50 and...

AGRI-BUSINESS: Selling pressure continues in sugar.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Mumbai, July 30 - Sugar prices continued to fall due to month-end selling at lower price by mills to fulfil the July free sale quota. The prices dropped to Rs 100-160 a quintal on Friday. Within a span of...

COMMODITIES: Jeera spot steady despite volatile futures.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Rajkot, July 30 - Jeera prices witnessed volatility on Friday. Prices began on a high note but due to profit- booking, came down by Rs 70-80 a quintal at the end of the day in the futures market. The spot...

COMMODITIES: Turmeric continues to tow futures, gains.
July 31, 2010... from BUSINESS LINE, July 31, 2010 Erode, July 30 - Prices of finger and root varieties of turmeric increased here on Friday taking cues from the futures market where prices increased on declining arrivals. In the regulated market, the finger...