Institutes are encouraging students to work hands-on with the underprivileged of society.
The crude oil rally will impact prices of aviation turbine fuel, which forms 30 per cent of the operating cost for an airline. The company incurred a loss of $23.1 million during the October-December quarter of FY08. This was against a net profit of $9 million during the corresponding quarter of 2006-07.
Nothing seems to dampen the spirit of Gujarat's textile industry when it comes to investments. Inspite of the issues arising due to rising input costs, the state government is expecting to witness MoUs worth Rs 10,000 crore (Rs 100 billion) in textile sector at the Vibrant Gujarat Global Investor's Summit 2009. During the summit, the state government will be luring several textile machinery manufacturers from overseas to set up base in the state.
The sharp depreciation of the rupee against the US dollar over the last four weeks has neutralised the impact of recent import duty cuts aimed at lowering prices of commodities like edible oil, metallurgical coke and newsprint.
The procurement has already touched 19.8 million tonnes and government agencies continue to procure 200,000-250,000 tonnes daily.
Cement companies' latest quarterly performance shows that they have begun to feel the pinch of the government's anti-inflationary measures. The latest price cut of 1.5 to 3 per cent at the government's persuasion and a decision to hold prices for the next three months could impact earnings even more.
Liquor companies are set to raise prices, thanks to the hike in the cost of molasses, a by-product of sugar used to make potable alcohol. "Alcohol prices may rise as much as 20 per cent due to lower molasses production," said Abhishek Khaitan, managing director, Radico Khaitan, the country's second largest liquor producer.
The Gujarat government's health department has announced an e-medicine scheme for rural areas. The programme entails offering online and telemedicine facilities to villagers. The department will install web cameras and other infrastructure for distant diagnosis. Of the total plan outlay in the state budget for 2008-09, 4 per cent is for the health sector. The state is also encouraging medical practitioners to set up clinics in certain identified blocks in rural areas.
Stockbroker Harish Bhasin has got Rs 22 crore stuck in the bid to take over DCM Shriram Industries, the Delhi-based sugar company. He invested the money to raise his stake in DSIL from 12.87 per cent to 25.05 per cent over the last five-and-a-half months. He bought DSIL shares from the open market. However, his open offer to buy 22.88 per cent stake has not taken off, pending an approval from the Securities and Exchange Board of India.
US President George W Bush and his Secretary of State Condoleezza Rice may have their numbers wrong when they accuse China and India of contributing to the global food crisis as a result of growing prosperity-led consumption.
While states across the country grapple with the problem of getting power to the rural areas, Gujarat stands tall as an exception. The state government's Jyoti Gram Yojana (JGY) has not only ensured 100 per cent village electrification but also 24 X 7 power supply. The result is a resurrection of rural industries in the state and reverse migration to rural areas.
Interestingly, it is the long products that have witnessed the steepest price increase (between 50 per cent and 62 per cent), clearly reflecting the booming demand from construction activities. However, the flat products, by comparison, have seen a price increase of 17-24 per cent, almost half compared with the long products. Driven by demand, the share of the long products in the total steel production has been steadily increasing.
Numbers collated by the Business Standard Research Bureau show that in the last three years, leading cement manufacturers have multiplied their nine-month profits manifold and mining and paper companies have more than doubled it.
The country's leading steel producers have devised a new strategy to pass on rising raw material costs to the end users without raising prices. Companies are now levying raw material surcharges while keeping the base price unchanged.
The mandatory 10 per cent ethanol blending in petrol may not happen for the existing 101 million vehicles on the Indian roads without introducing technical changes in them. The central government plans to make 10 per cent blending compulsory from October from the current 5 per cent. Existing vehicles are not capable of running on 10 per cent ethanol-blended petrol as ethanol releases more heat and can corrode vehicle engines, experts say. It will lead to a 3% drop in mileage.
The jewellery industry innovates to compete with lifestyle products like mobiles and laptops. Students at the National Institute of Design (NID), Ahmedabad, are working on innovative designs concepts which will add some utility value to luxury jewellery products and help jewellers stay afloat.
On Tuesday, in the midst of the government's multi-pronged crackdown on inflation, the cement producers had announced a rise in prices. The export ban will augment domestic availability while the cheap imports from Pakistan will soften prices.
The price rise in individual key food commodities over the last one year is significantly higher than what is conveyed by the wholesale price index. While the latest government data show inflation at 6.68 per cent for the week ended March 15, the price change in most food items is in double digits.
The Delhi Daredevils, IPL's Delhi team which is owned by the GMR Group, has recruited a student of the Postgraduate Programme in Public Policy and Management (PGP-PMP) from the institute to manage its operations. Colonel Vinod Bisht, the student, has been hired as assistant vice-president (operations) for the company for a Rs 30-40 lakh package.
DCM Shriram Industries , too, is issuing 700,000 warrants to its promoters, Tilak Dhar and his brothers, which will raise their shareholding from 32.54 per cent to 42 per cent, though this has been challenged in the courts by shareholder Harish Bhasin, who has mounted a takeover bid on the company.
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