As India is entering the peak season for construction (January to June), the industry reported a surge in cement demand of around +13% in January, Y-o-Y. Cement companies have witnessed strong volume growth on the back of increased government spending on housing, roads, ports & power stations and the momentum is expected to continue.
business
Indian Food price inflation – not just a one-off
There is more to India’s food price inflation – which touched a decade-high 20% YoY in December 2009 – than just the drought. A fundamental tightness in the domestic demand-supply balance of food seems to have emerged over recent years. The spurt in wholesale prices of some food items in 2009 – sugar 35%, pulses 41%, milk 13% and eggs 24% – was the highest in over a decade and that could complicate monetary policy. Global food price trends alone do not explain the acceleration in food price inflation in India.
TVS Motor’s January sales up 34%
Chennai-based two-wheeler maker, TVS Motor Company has reported 34% jump in its January sales. The company sold total 125,578 two-wheelers during the month under review against 93,729 units in January 2009.
On domestic front, it has clocked 37% growth in January 2010 by registering sales of 109,504 units as compared to 79,729 units in the corresponding period of the previous year.
Reliance Globalcom and Broadband revenues Declines
Rcom’s Q3FY10 results were below expectations on the revenue and EBITDA front on account of a steeper decline in Globalcom and Broadband revenues than anticipated. The EBITDA margin declined sequentially by 128bps due to the drop in revenue and a 15.3% increase in access charges, which was only partly offset by a decline in network … Read more Reliance Globalcom and Broadband revenues Declines
Crompton Greaves recommends Bonus + Interim Dividend
Crompton Greaves Ltd has informed us that the Board of Directors of the Company at its meeting held on January 28, 2010, inter alia, has approved the following:
1. The Board of Directors have declared an interim dividend of 70% i.e. Rs. 1.40 per share.
2. The Board of Directors have recommended issue of Bonus Shares in the proportion of 3 (Three) new Equity Shares for every 4 (Four) Equity Shares, of Rs. 2/- each.
Read moreCrompton Greaves recommends Bonus + Interim Dividend
Harrisons Malayalam Infrastructure contract worth Rs 50.28 crore
Harrisons Malayalam has announced that it has signed a contract worth Rs 50.28 crore with KTDFC. The contract involves construction of a central bus terminal for KSRTC at Trivandrum. Harrisons Malayalam, part of the RPG Group, markets its tea products under ‘Harrison’s Gold’, ‘Mountain Mist’, ‘Surya’, and ‘Spencer’s’ brand names.