| Power demand traces economic recovery | 21-NOV-09 |
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| In a clear indication of an economic revival, the demand for power in India has jumped 6.3 per cent in the April-October period this financial year, compared with the same period of 2007-08 when it had increased by a mere 0.3 per cent, its lowest growth in the past five years, owing to the global financial meltdown. |
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| IIPR to develop heat resistant gram | 19-NOV-09 |
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| The Kanpur-based Indian Institute of Pulse Research (IIPR) has begun its battle against the unbridled pulse price rise. The institute has proposed a project to develop heat-resistant species of gram, which is commonly used as pulses after processing. According to the project head and agricultural scientist at IIPR Dr S K. Chaturvedi, the production of pulses in the country had been on a decline for quite some time now and one of the prime reasons for the descent had been the recent phenomena of global warming. “The conventional species of plant are not able to withstand the rising temperatures, resulting in lower harvests and reduced acreage,” he added. |
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| IIP growth continues to be robust at 9.1% | 13-NOV-09 |
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| Industrial output, as measured by the index of industrial production (IIP), grew by 9.12 per cent in September, up from 6 per cent in September 2008. It was mariginally lower than the 10.4 per cent in August this year. |
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| Positive IIP numbers fail to enthuse markets | 13-NOV-09 |
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| The markets chose to ignore the strong index of industrial production (IIP) numbers to shed nearly one per cent in a volatile session of trade. The Sensex closed at 15696.03, lower by 153.57 points, and the Nifty faced resistance around the 5,000 mark to end at 4,952.65, down 51.30 points. Realty, metal and banking sectors were the major draggers. |
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| Markets ignore IIP data, end in red | 12-NOV-09 |
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| The markets opened on a flat note today and slipped into red almost immediately. Strong IIP numbers helped the index rebound into the green to touch a high of 16,897. The market, thereafter, turned volatile on the back of global cues, ignoring the earlier gains. |
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| Industry grows by 9.1% in Sept | 12-NOV-09 |
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| Industrial growth continued its upward march with factory production rising 9.1 per cent in September against 6 per cent in the same period last year. |
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| North East industry to get excise duty breather | 29-OCT-09 |
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| There’s some good news for the industry of North-East as the union commerce ministry has agreed to have a relook into its March 2008 notification which had considerably restricted excise duty exemption of industrial units in the region. It is learnt that union commerce minister Kamal Nath had recently “assured” the Assam chief minister, Tarun Gogoi, to look into the issue. |
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| Mumbai IT SEZ developers to raise Rs 1,000 cr | 20-OCT-09 |
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| Megnasolace City Pvt Ltd, a special purpose vehicle (SPV) set up for the Mumbai IT/ITeS SEZ project coming up at Thane, is looking at raising up to $216 million (Rs 999.45 crore) for funding expansion through the private equity route. |
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| Govt to come out with new IIP series soon | 16-OCT-09 |
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| In order to give an accurate picture of industrial production in the country, the government will soon come out with a new series of data on factory output that will do away with obsolete items and add those products which have entered the markets in recent years. |
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| Banking stocks at 52-week high on hopes of credit growth | 14-OCT-09 |
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| The banking stocks continue to rule high on the back of stimulus measures by the Reserve Bank of India that helped revival of economic growth and attraction of foreign funds. Key economic data like the recent Index of Industrial Production (IIP) indicated likely swift recovery of the economy. Factory output at 10.4% in August registered the highest growth rate in 22 months. |
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| Gaining strength | 13-OCT-09 |
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| The numbers for the Index of Industrial Production (IIP) for August 2009, released yesterday, reinforce the perception that the recovery is gaining strength. The June numbers provided the first sign of a better-than-tepid recovery, with the index showing 8.2 per cent growth (up from 2.1 per cent in May). In July, both the overall index and the manufacturing sector, which comprises about 80 per cent of the index, grew by a reasonably healthy 6.8 per cent (now revised to 7.2 per cent) over July 2008. The August numbers are significantly more buoyant, with the overall index growing by 10.4 per cent over August 2008 and the manufacturing sector coming in a shade lower at 10.2 per cent. This takes growth in the index for the June-August 2009 period to 8.6 per cent, which should set at rest any doubts that remain about the strength of the recovery. In the same three months of 2008, growth had averaged no more than 4.5 per cent. |
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