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Spice, Tata network congestion above acceptable limit: TRAI
Quake jolts Ludhiana hosiery
HAL signs
pact with Chilean aviation firm |
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Centre’s tax revenue up by 24 per cent
Aluminium producers hike prices
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Hindustan Lever profit ends flat
Auto Scene
Special purpose tea fund on anvil
Jet Airways’ net falls
Oil cos cut ATF prices
Markets closed
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Spice, Tata network congestion above acceptable
New Delhi, November 2 TRAI has set the 0.5 per cent acceptable limit, but it found that the network congestion across the country, particularly in Punjab, is several times more than the acceptable limit, resulting in poor quality of service. The study released today by the regulatory body found that “private operators other than BSNL have been quicker in responding to the interconnection needs though some of them have lately shown signs of congestion buildup possibly due to the unexpected high growth rate.” “The problem is, however, extremely acute in interconnection with BSNL, whether it is interconnection to their fixed network or the mobile network,” the study, based on the data collected over several months this year, said. The congestion for the outgoing calls originating in Spice to other mobile networks continued to be higher than the acceptable limit. The Spice call connection to BSNL in Jalandhar was 11.21 per cent, up from 10.58 per cent. For calls to other mobile networks from Spice, the study found that HFCL Basic was 1.90 per cent, BTSOL NLD 1.52 per cent, and VSNL ILD 4.86 per cent. For congestion on Spice mobile to BSNL fixed network calls, the study found network interconnection beyond the acceptable limit in Kolkapura, Amritsar, Bathinda, Ludhiana, Pathankot, Patiala, Ropar, Sangrur and Hoshiarpur with a highest congestion of 3.48 per cent. The congestion for the outgoing calls originating from Tata Teleservices to other mobile networks continued to be higher than the acceptable limit. The Tata Teleservices call connection to BSNL in Chandigarh was 75.93 per cent against the benchmark limit of 0.5 per cent. For calls from Tata to the BSNL fixed network, the interconnection congestion was witnessed in Chandigarh, Ferozepore, Patiala, Rajpura, Amritsar and Jalandhar, with the highest of 70.13 per cent in Nawanshahr. Although in the latest comparative data of July and August, the interconnection congestion was showing signs of reducing in Spice, in the case of Tata it showed an upward trend with congestion in Patiala taking a quantum jump from 3.36 per cent to 56.82 per cent. TRAI said to support the present growth rate of 2.5 to 3 million subscribers every month, the time period for provision of interconnection should be very minimum. BSNL controls 79 per cent of fixed line share in the country. In the mobile telephony space, Airtel controls 21.4 per cent, followed by Reliance with 20.3 per cent, BSNL with 18.6 per cent and Hutch with 14.7 per cent. “The provision of interconnection has not kept pace with this growth leading to increase in inter-network congestion and poor quality of service to the customers,” it said. Though TRAI, it said, had taken measures to reduce the lead time for provision of interconnection, legal proceedings against these measures by BSNL in TDSAT and the orders of the tribunal, limiting the powers of TRAI to fix the terms and conditions of, interconnectivity blocked these measures, the study said.
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Quake jolts Ludhiana hosiery
Ludhiana, November 2 Industrialists have also been complaining of delayed clearances in payments. “Not many orders are being repeated. We fear there would be a decline in demand. Even the clearance of cheques is being delayed,” said Mr Anil Beri of Beri and Beri, a hosiery unit here. Local industry, primarily small scale, supplies woollen material worth over Rs 150 crore to Jammu and Kashmir every year. While supplies begin in August-September, which is the peak period, these continue throughout the winter. Industrialists say traders from J&K are not visiting Punjab as frequently as they did prior to the quake for placing orders. Difficulties in contacting traders on the telephone are also arising. Besides, goods being sent from here are not reaching their destinations on time. “A truck of goods sent over eight days ago has still not reached us. Poor connectivity is affecting our trade. Our suppliers are not able to get in touch with us,” said Mr Farooq Ahmed of United Hosiery in Sopore in J&K. Srinagar, Anantnag and Baramulla are the main demand centres. Mr Ahmed said as quake-hit areas did not generate much demand, it was mainly the destruction of infrastructure which was creating problems for industry. “ There are some changes in the demand pattern. For instance, the demand for blankets has risen in comparison to woollen garments.” The demand for blankets and thermal wear has been on the higher side in comparison to the earlier pattern where it were woollen garments and knit yarn that dominated supplies. Despite the current situation, some industrialists feel this is “temporary phase”. However, the complete effect would be visible only around January next year. “We sent most of the supplies before quake. Whether there is any major reduction in demand or not would be clear only in January-February next year, which is when unsold material is returned,” said Mr G.S. Dhiman, Director, Nahar Group, a major supplier to J&K, which also sent relief material worth Rs 12 lakh to the quake-hit areas. Post-quake, social organisations have also been actively placing orders for charity purposes. A couple of industrial units from the city too have come forward to supply relief material to quake victims.
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HAL
signs pact with Chilean aviation firm New Delhi, November 2 The contract was
signed with Chilean aviation company MS Enar in Santiago yesterday in
the presence of Defence Minister Pranab Mukherjee and his Chilean
counterpart Jamie Ravinet, an official statement said here. Mr
Mukherjee has been in the South American country for the past few
days. He is heading a high-level defence delegation. In the course
of his visit, he became the first minister from India to fly to
Antarctica. He spent six hours at the Chilean armed forces base at
King island located in Antarctica. HAL is bidding to make its first
ever foray into foreign arms sales by offering Chilean armed forces 20
to 30 Dhruv advanced light helicopters at an estimated cost of $400
million (Rs1,800 crore).
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Centre’s tax revenue up by 24 per cent
New Delhi, November 2 Figures released by the Controller- General of Accounts revealed that the income tax had again yielded less revenue in September year-on-year after reversing this trend in the preceding two months. The tax revenue till September constituted 35.2 per cent of estimated Rs 2,73,466 crore for the entire 2005-06. Till the first half of the past fiscal, tax revenue had touched 33.3 per cent of the estimated figure of Rs 2,33,906 crore for the whole 2004-05. Corporation tax collections rose substantially by 66.81 per cent at Rs 33,926 crore during the April-September period over the previous six months, reflecting industrial growth during the period. Excise duty collections grew by 10.35 per cent at Rs 40,416 crore during six months of this fiscal compared to Rs 36,622 crore during the first half of the previous fiscal. Customs duty collections rose by 24.08 per cent at Rs 31,276 crore during the first six months of this fiscal against Rs 25,205 crore during the previous six months. Income tax again failed to chip in more revenue in September this year compared to the same month of the last fiscal. Income tax collections fell by 26.03 per cent at Rs 7,204 crore in September against Rs 9,776 crore in the year-ago period. For the first six months of this fiscal, income tax gave 16.25 per cent less revenue at Rs 21,083 crore to the government against Rs 25,175 crore during the April-September period last year.
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Aluminium producers hike prices
New Delhi, November 2 "We have revised the prices of aluminium keeping in view the upward fluctuations in London Metal Exchange. We have raised Rs 2,300 per every metric tonne," Nalco's Chairman and Managing Director C R Pradhan said from Bhubaneswar. The Nalco chief, however, categorically denied that the decision to hike price was influenced by the Chinese government's order to impose curb on over supply. Taking a similar line, another aluminium producer Hindalco hiked the prices by Rs 3,400 a metric tonne. "After the company noticed rise in prices of aluminium in LME, it made changes accordingly. The prices of metal from the company would now be higher by Rs 3,400 which is 3.4 per cent of the present price," Hindalco's Regional Manager (Delhi) Nutan Singh said. He dismissed as "all rumours" that the Chinese factor was behind the rate hike in India.
— PTI
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Hindustan Lever profit ends flat
Mumbai, November 2 Profit after tax (PAT) before exceptional items, grew 15.2 per cent due to lower interest costs post redemption of bonus debentures and lower tax incidence. Net profit was flat as second quarter 2004 included a significant credit from property disposal. HLL Chairman Harish Manwani said that a strong growth momentum delivered a double-digit growth in September quarter 2005, both in HPC and foods. In the highly competitive categories of laundry and hair wash, high growth has been accompanied by market share gains. A combination of high impact innovations, market activation, renewed distribution initiatives and significant brand investments are enabling us to win in the market place, he said. Earnings before interest and taxes (EBIT) grew 3.2 per cent. Videocon gains Rs 66 cr
Videocon International Ltd has posted a net profit of Rs 66.55 crore for the quarter ended on September 30, as compared to Rs 43.58 crore for the same quarter last year. According to a release, the company’s total income has increased from Rs 988.43 crore to Rs 1,271.78 crore for the September quarter. The company has posted a net profit of Rs 237.83 crore for the year ended on September 30, as compared to Rs 133.29 crore for the last year.
Godfrey Philips net up
Godfrey Philips today reported 97.14 per cent increase in net profit at Rs 23.44 crore for the second quarter ended September 30, 2005 as against Rs 11.89 crore in the corresponding period last year. The company’s net sales, however, dipped by 2.57 per cent at Rs 159.29 crore during the quarter as against Rs 163.50 crore earned during the corresponding period last year. For the half year ending September 30, the net profit of the company stood at Rs 39.14 crore as against Rs 25.82 crore, an increase of 51.58 per cent.
BHEL profit up
Bharat Heavy Electricals Ltd today reported a 64.5 per cent jump in net profit to Rs 260.2 crore in the second quarter this fiscal as compared to Rs 158.2 crore in the corresponding period last fiscal. Net sales during the July-September 2005-06 quarter grew 45.6 per cent to Rs 2,787.8 crore as against Rs 1,913.7 crore in the year-ago period, BHEL said in a release. Net profit in the first half this fiscal rose by a massive 113.5 per cent to Rs 388 crore as against Rs 181.7 crore in April-September 2004-05. The first half net sales increased by 53.7 per cent to Rs 4,902.1 crore from Rs 3,189.3 crore in the same period last fiscal. The power equipment giant had an outstanding order book of Rs 32,200 crore by the end of second quarter, it said. Net profit from power segment grew to Rs 42.21 crore in the second quarter from Rs 26.40 crore while that from the industry business increased to Rs 11.47 crore from Rs 8.95 crore a year ago.
Cipla gains Rs 122 cr
Cipla Ltd today reported a 27.88 per cent rise in net profit of Rs 122.60 crore for the quarter ended September 30, 2005 as compared to Rs 95.87 crore in the same period last fiscal. Total income has increased 14.34 per cent to Rs 673.23 crore for the quarter ended September 30, 2005 from Rs 588.79 crore in the year-ago period, the company informed the Bombay Stock Exchange.
Nestle profit surges
Nestle India Ltd today posted an 8.33 per cent increase in net profit at Rs 74.59 crore for the quarter ended September 30, 2005, as against Rs 68.85 crore for the same period last year. Total income increased 11.95 per cent to Rs 630.48 crore for the third quarter this fiscal from Rs 563.16 crore in the year-ago period, the company informed the Bombay Stock Exchange.
— Agencies
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Auto Scene
Mumbai, November 2 Bikes sales during the first seven months of this fiscal grew 42 per cent to 10,73,112 units against 7,55,706 units in the same period last fiscal, the company said in a press note. Total two-wheeler sales, including scooters, in the month stood at 2,19,927 units as compared to 1,57,631 units same period last year, a growth of 40 per cent, it said. Sales of three-wheelers also rose by 15 per cent to 21,881 units as against 19,062 units in October 2004, it said.
Hero Honda
Hero Honda Motors Ltd today reported a 22.90 per cent increase in sales in October at 3,01,711 units against 2,45,475 units in the same month last year.
Domestic sales in the month were 2,95,354 units, up 23.10 per cent from 2,39,917 units. — PTI
Hyundai Motors
Auto major Hyundai Motor India (HMI) yesterday said the company has sold 24,762 vehicles, its highest ever sale in a month, during October 2005. Of the cumulative figure, 15,801 units were sold in the domestic market and 8,961 in the overseas market, HMI said in a press note. While domestic growth in October was 19 per cent compared to corresponding period last year, the cumulative growth stood at 9 per cent, HMI said, adding due to strong festive-season demand in the
domestic market, exports fell by 5 per cent over the same month last fiscal.
TVS Motors
TVS Motor Company has registered the highest-ever sales last month by selling 1,37,886 two-wheeler units, as compared to 1,17,696 units during the same period last year, a growth of 17 per cent. According to a company press note issued here today, of this, motor cycles alone accounted for 85,463 units, higher by 14 per cent of the sales of 74,683 units registered during the same period the previous year. As many as 25,373 scooters were sold during October, compared to the sale of 21,291 units in the same month last year, representing a growth of 19 per cent.
— Agencies
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Special purpose tea fund on anvil
Kolkata, November 2 "As a medium and long-term measure, a major stepping up of the rate of replantation and rejuvenation holds the key to competitiveness of the Indian tea industry, given the high age profile of tea bushes throughout the country... The detailed costing and modalities of funding such a large programme are being worked out," Nath said while inaugurating the 40th Annual General Meeting of the Tea Association here. Dwelling on the problems of the tea industry, he said it had been passing through a crisis for the past several years on account of depression in prices and the situation was compounded by rising cost of production and low
productivity due to old age of tea bushes. Outlining various measures taken by government through the Tea Board to help tea industry, Nath said," quality and quality alone could make Indian tea competitive and sought after, given that supply of tea at the global level exceeded the demand". — PTI
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Mumbai, November 2 Announcing the results, the company said its total income has increased from Rs 1,036.74 crore in Q2-05 to Rs 1,324.24 crore for the quarter ended September 30, 2005. It has posted a net profit of Rs 163.93 crore for the half-year ended September 30 this year as compared to Rs 129.36 crore in the comparable quarter last year, while total income stood at Rs 2,590.16 crore compared to Rs 1,926.42 crore in the first half of 2004-05. — UNI
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Oil cos cut ATF prices
New Delhi, November 2 The slash in ATF prices for domestic airlines ranges from Rs 650 per kl to Rs 745 per kl, said an official of IndianOil Corp. The new prices came into effect from November 1. For international airlines, who do not have to pay local levies on the fuel, the cut would be between $25 to $26 per kl.
— PTI
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Markets closed
Mumbai, November 2 The BSE and NSE will also remain closed on November 4 (Friday) on account of "Ramzan-Id". — PTI
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Thermal plant
Mumbai, November 2
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bb
Rupee loses 13 paise
3i Infotech Fresh bid L&T eyes Iran BASF India |
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