FreePress India - Breaking News and Editorial in Indian Business

Copper touches 10-month high on US home sales data

August 5, 2009 by Editor's Desk

Copper prices rose to a ten-month high after a report showed the number of contracts to buy previously occupied US homes rose for a fifth month.

Pending home resales rose 3.6% in June, an industry group announced on Tuesday. Economists forecast a 0.7% gain, the median of 35 projections in a Bloomberg News survey. Builders are the biggest US users of copper, putting about 400 pounds (181 kilograms) in the typical home. The metal has soared 98% this year on speculation that global demand will climb.

FIIs net buyers of Rs 347 cr (prov) in the cash segment on Monday

August 4, 2009 by Editor's Desk

Foreign institutional investors (FIIs) were net buyers of Rs 347.01 crore (provisional) today in the cash segment, as per information posted on the BSE website. While FIIs made gross purchases of Rs 1,748.87 crore, their gross sales stood at Rs 1,401.86 crore.

Similarly, domestic institutional investors (DIIs) were net buyers of Rs 61.01 crore (provisional) on the same day. While DIIs made gross purchases of Rs 884.72 crore, their gross sales aggregated Rs 823.71 crore.

Copper rises higher on signs of economic recovery across the world

August 4, 2009August 4, 2009 by Editor's Desk

Copper prices moved higher on signs of economic recovery across the world. Prices in London, Shanghai and New York touched their ten-month highs on speculations that demand for the industrial metal would see an upmove.

Copper for three-month delivery on the London Metal Exchange rose to $5,946.75 a metric tonne, the highest since October 6, and was seen at $5,884.50 at 3:35 pm in Singapore.

Copper for September delivery on the Comex division of the New York Mercantile Exchange advanced 3.4% to $2.7130 a pound, the highest price for a most-active contract since October 3. November-delivery copper on the Shanghai Futures Exchange jumped

Tata Motors reports robust sales growth in July

August 4, 2009 by Editor's Desk

Automobile major Tata Motors has reported a splendid sales performance in the month of July 2009. While there was an all-round increase in domestic sales, exports tumbled 33.50% in the month under review. Sales of passenger cars in the domestic market rose by 17.33% at 17,191 units, as compared to 14,652 units in the corresponding … Read more Tata Motors reports robust sales growth in July

MTS CDMA Mobile expands service to cover entire Kerala

August 3, 2009August 3, 2009 by Editor's Desk

MTS, the telephony brand of Sistema Shyam TeleServices Limited (SSTL), a joint venture between Sistema (LSE: SSA) of Russia and Shyam Group of India, today announced enhanced network capacity that will enable its mobile telephony services to be available across all the 14 districts of Kerala, covering 425 towns. This marks the completion of Phase One of MTS India’s network roll-out in Kerala, which has been completed in less than four months of its operations in the state.

Mr. Srinirao Saripalli, Chief Operating Officer, Kerala & Tamil Nadu, Sistema Shyam TeleServices, said

Omaxe City, Bathinda – Luxurious and expandable Villas

August 3, 2009August 3, 2009 by Editor's Desk

Omaxe City is approved by the Punjab Urban Planning & Development Authority (PUDA) and would be developed with an investment of approximately Rs 200 crore.

The villas with modern amenities will be available at prices starting from Rs 17.47 lakh and with an option of constructing 2-4 bedrooms. They are situated just two kilometers away from the Delhi Public School. Applications for these are invited till August 18 and draw is scheduled just four days post that on August 22, 2009.

Recently, Omaxe launched its comfortable, secure, friendly and affordable homes project named as Omaxe New Heights in sector 78 of Faridabad, valued at around Rs 70 crore.