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BSNL realigns pulse durations
NFL chief advocates neem-coated urea
Oman-India plant ready
China flays EU quotas on textile imports
Nod to Enron pension settlement
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Invest capital gain from property and save tax
Mutual funds push up Sensex
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BSNL realigns pulse durations
New Delhi, May 29 Calls from basic, including WLL phones of BSNL within Tamil Nadu circle, including Chennai, West Bengal circle, including Kolkata and UP (east)/UP (west)/Uttaranchal will be treated as local calls. Calls from basic to all cellular networks, including access service providers of other service area in the same state, will be charged at a pulse rate of 45 seconds and 60 seconds in case of BSNL cellular network. For Maharashtra circle, calls from basic to all other cellular networks, including that of MTNL cellular in Mumbai shall be charged at 45-second pulse rate as BSNL does not have any access network in Mumbai. In the case of basic-to-basic calls from Maharashtra circle to Mumbai (MTNL), they shall be treated as intra circle calls. For basic-to-basic calls within 50 km, the pulse duration is 180 seconds and for WLL call it is 90 seconds. All calls from cellular to all cellular/fixed network of these states will be charged at intra-circle tariff as per respective plans of the calling subscriber except in case of Maharashtra. Cellular subscribers of one service area while roaming in another service area within the same state are not to be charged roaming
charges for incoming calls. However, BSNL said it would certainly be 'impacted' by the government decision to make mobile calls between three metro capitals and the rest of the states as well as UP (east) and west as local. "The decision will certainly have an impact in terms of revenue on BSNL. But we hope there is also spurt in traffic which would outdo the shortage in the revenue," BSNL CMD A K Sinha, said.
— UNI
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Maran to launch BSNL expansion plan tomorrow
New Delhi: Union Communications and IT Minister Dayanidhi Maran will launch BSNL's major expansion plan for North from Srinagar on May 31 for providing additional four million lines in the region.
Under the plan, BSNL would further strengthen its network in North Zone, comprising Jammu and Kashmir, Himachal Pradesh, Punjab, Haryana, Uttaranchal and UP, it was stated here today. Jammu and Kashmir will have an additional capacity of 2.8 lakh lines of the four million expansion plan. The BSNL has also drawn a plan for similar expansion of its telecom network in the south and east zones.
— TNS
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NFL chief advocates neem-coated urea
New Delhi, May 29 At present, the company is supplying this premium fertiliser to the parts of Punjab and Haryana, where it has shown increase in yields of wheat, paddy and other crops. “We are spending about Rs 100 per tonne on neem oil to produce this premium urea, which has helped the farmers achieve 5 to 20 per cent higher yields besides saving about Rs 700 per hectare through reduction in use of pesticides,” said Mr P.S. Grewal, CMD, NFL and Vice President, Fertiliser Association of India. In an interview to The Tribune, he said: “The government should allow the producers to at least recover the costs to produce this fertiliser. It will encourage the farmers to adopt neem-coated urea resulting in better yields and higher farm income.” The company has asked the government either to increase subsidy on this premium product or allow it to charge marginally higher price at least Rs 100 per tonne to recover the costs to produce this premium product. The company has fertiliser plants in Bathinda, Nangal, Panipat and Vijaypur in Madhya Pradesh with a total installed capacity of 32.31 lakh metric tonnes. It has also a separate plant at Indore with installed capacity of 100 metric tonnes per year to produce bio-fertilisers.
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Oman-India plant ready
The $ 1-billion Oman-India fertiliser plant, India’s largest joint venture in the world, will be commissioned later this year, External Affairs Minister Natwar Singh said here yesterday.
The Minister said the project, which got delayed due to various reason, would prove catalyst in diversifying relations in hydrocarbon, IT and defence sectors. It will produce 1.65 million tonnes of urea and 2,50,000 tonnes of ammonia. India will buy the entire production of the plant to meet its domestic requirements.
— TNS
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China flays EU quotas on textile imports
Beijing, May 29 The EU on Friday asked the Chinese authorities for formal consultations on two categories of textiles and clothing products — flax yarn and T-shirts. The EU move would trigger an urgency procedure, which requires China to limit exports of textile or textile products in these categories to a level no greater than 7.5 per cent above the amount that entered the EU market during the period from March, 2004, to February, 2005.There are seven other categories of textile imports from China currently under EU investigation. Meanwhile, Chinese Commerce Minister Bo Xilai said the reason for China’s textile and garments exports increase to the European and American developed nations in the first quarter of 2005 was because they retained 70 to 90 per cent of the quotas till the last moment the quota regime had to be done away with.
— PTI
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Nod to Enron pension settlement
Houston, May 29 That amounts to about $ 3,500 per person when spread out over 20,000 current and former workers. The actual number who will qualify and the division of the money, however, could be quite different. The United States District Judge, Melinda Harmon, said the settlement was fair to current and former Enron workers seeking to recoup lost retirement savings through the lawsuit.
— PTI
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by J.C. Anand Mutual funds push up Sensex A fortnight back the Sensex had opened at 6456.97 points. Last Friday (May 27), the Sensex after touching a day’s high of 6673 points closed at 6707 points despite a great deal of volatility and mixed corporate results. In fact, the market was up on all five trading days last week even though the FII activity was on the negative side. Purchases by mutual funds played a positive role in pushing up the market. Natural gas prices up
Important news is that the government has approved market-linked national gas pricing for consumers other than the power and fertiliser sectors. While the hike in natural gas prices for the power and fertiliser sectors has only been 12 per cent, other users of gas could face more than a 100 per cent increase. However, the transport sector and industry in Agra-Ferozabad and small consumers (consuming less than 0.5 million standard cubic metre per day) have been spared from any hike for three to five years. The hike in gas prices would naturally boost ONGC revenue but would adversely affect gas users in the steel and small scale sectors. I may, however, raise the demand for ethanol which is now blended by about 5 per cent in petrol. Those companies are likely to gain which produce ethanol from molasses. Corporate sector
The corporate results declared last week were a mixed lot. While the banking sector reported low net profits, some other companies reported better results. ITC:
Due to one time write-back of Rs 1365 crore on account of a favourable judgement in a law suit, ITC announced a dividend of Rs 31 per share which is 55 per cent higher than that declared last year. It has also announced a plan to consider a bonus issue and stock split at its next board meeting on June 17. Larsen and Toubro:
L&T has posted 84.67 per cent growth in its net profit at Rs 983.85 crore (against Rs 532.75 crore in the previous year) for the year ended March 31, 2005. This includes an exceptional income of Rs 353 crore accruing from the sale of cement business to the Aditya Birla group. It has also announced a dividend of Rs 17.50 per share (of Rs 2 each) over and above a special dividend of Rs 10 announced in October, 2004. Vardhman Polytex:
Vardhman Polytex has maintained its dividend at 42 per cent though its annual results indicate a lower net profit of Rs 7.46 crore (as against Rs 9.49 crore in the previous year). Its EPS is Rs 7.03 (as against Rs 8.94 in the previous year). But the company is planning to spend about Rs 120 crore to set up a weaving facility in western India. The new business will be in the nature of a joint venture company with a European partner. The company has also set up a yarn dyeing unit at Ludhiana and a new spinning unit at Bathinda. Vikas WSP:
Vikas WSP, a company wrapped in a number of scandals and management problems has, however, announced excellent results. Its net profit for the year ended March 31, 2005, stands at Rs 2783.61 lakh (as against Rs 977.44 lakh last year). The company has also received an export order for an approximate value of Rs 4625 lakh. Its book value of Re 1 face value share is Rs 20.06. The company is not listed at any stock exchange now and its equity shares are not quoted. It will be wise for the company and good for shareholders to have the company
relisted on the BSE or on the NSE.
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