Posts Tagged ‘textile’

Equity Market News 7th – 11th June

Economy

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·Food inflation rose to 16.55% for the week ended May 22 on account of high prices of pulses, fruits and vegetables. Inflation increased by 0.32 percentage point from 16.23% in the previous week.

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Information Technology

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·Take Solutions entered into a strategic partnership with Reliance Life Sciences to supply its unique PharmaReady eCTD, SPL and PPM modules.

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Pharmaceutical

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·Aurobindo Pharma has received a final approval from the US health regulator for sale of Ceftazidime, used to treat respiratory infections, in the American market. The company has bagged the final approval from US Food and Drug Administration for two variants of the drug.

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·Ranbaxy Laboratories’ UK-based subsidiary is recalling a single lot of its drug Gabapentin, used in the treatment of nerve pain, from the UK market for updating mandatory safety information on them.

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·Lupin has received the US Food and Drug Administration’s approval for marketing and distributing Lamotrigine tablets, used for treating bipolar disorders, in American markets. The company has received approval for Lamotrigine tablets in 25 mg, 100 mg, 150 mg and 200 mg strengths.

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Paints

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·Asian Paints has signed a MoU with the Maharashtra government to set up a Rs 735 crore mega project for manufacturing paints and intermediates.

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Realty/ Construction

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·Ahluwalia Contracts India is looking for acquisition or tie-up with a specialised construction firm to help it become an integrated urban infrastructure company. The acquisition will enable the construction company to execute value-added construction projects, like developing multi-level parking and building concrete roads.

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·Jaiprakash Associates will invest around Rs 10,000 crore in the next three years to increase its annual production capacity to 50 million tonnes from a little over 20 million tonnes at present.

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·Lanco Infratech has received an order worth Rs 91.66 crore from the Airports Authority of India for construction of a terminal in Orissa. The scope of work includes construction of a new terminal building at Biju Patnaik Airport, Bhubaneswar.

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Power

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·NTPC Ltd, India’s top power producer, is set to buy controlling stake in a coal field in Australia in a deal valued at $1 billion to $1.5 billion.

·GVK Power & Infrastructure’s subsidiary has bagged a Rs 850 crore contract for building a highway in Rajasthan. GVK Developmental Projects Pvt Ltd, a wholly owned subsidiary of the company, has won the bid for four-laning a portion of the national highway.

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Capital Goods

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·State-run power equipments giant BHEL, engineering major Larsen & Toubro (L&T), and Russian firm Power Machines, among others have evinced interest in supplying to Jindal Power’s two thermal plants in Jharkhand. Jindal Power, a subsidiary of Jindal Steel and Power, is executing two supercritical power projects of 1,320mw at Dumka and 660mw at Godda in Jharkhand by 2014. Supercritical power projects are environment-friendly and energy-efficient.

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·Bharat Earth Movers (BEML) has signed a MoU with the Karnataka government at the Global Investors Meet here for establishing another manufacturing complex in the city.

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Textile

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·S Kumars Nationwide Limited (SKNL) has launched its new apparel brand ‘World Player’ in Kerala. World Player’s product range comprises of formal, casual and occasion wear designed to give the customer a more upmarket trendy look.

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Refineries

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·Indian Oil Corp bought 6 million barrels of West African and 1 million barrels of Libyan crude oil via tender for July and August including its first purchase of Nigerian grade Okono.

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Capital Goods

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·Bharat Forge had formed a JV with KPIT Cummins Infosystems to produce a hybrid engine technology, which will hit the market in six months.

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Indian Export to Register 10% Growth during 2010-11 :)

India-exports-growth

With all sectors including textile showing recovery, the total export from India is likely to register 10% increase during 2010-11.

🙂

However, the growth during this fiscal (2009-10) would be either flat or marginally negative, although export observed a marginal decrease during the last financial year due to global recession.

🙂

While, it is said that almost all the sectors in India were showing a stimulation or plus-growth, including automobile, plantation and engineering.

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On the other hand, it is said that the economic situation is not really that bad and there is a sign of revival during the last two to three months whereas the year 2010-11 is said to be good for all the sectors, particularly textile, which was feeling the ”cyclic pinch” and that would be back to business in the year.

🙂

Though textile would continue to remain weak in 2009, there could be recovery in the year 2010 and once the demand from the USA and EU improves, it is expected to achieve a reasonable growth 🙂

🙂

However, though there was a steep export growth in textiles and clothing in the first half of 2008-09, there had been slowdown in demand from major markets, USA and EU, due to the global economic crisis.

😦