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INDUSTRY INTERVIEWS/FEATURES COMMERCIAL VEHICLES CONSTRUCTION & AGRI MACHINERY Royal Enfield to bring its global thumpers home | ALLIED INDUSTRIES LUBRICANTS & ALTERNATIVE FUELS INTERNATIONAL NEWS GM plans 'garage sale' for toxic plants GM sales fall 34 per cent in June Hitachi to supply lithium-ion batteries to GM ECONOMY & FINANCE
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INDUSTRY Go To Top PTI See this story in: The Hindu Business Line (Web Edition), The Hindu (Web & Print Edition), The Economic Times (Web Edition) New Delhi: After two decades of impressive growth, the automobile sector's performance has not been encouraging after 2006-07, but its growth turned modestly positive last fiscal, touching a domestic turnover of Rs 2.19 lakh crore, the Economic Survey said on Thursday. Although auto industry production grew at a CAGR of 11.5 per cent over the last five years, in 2007-08 it fell into negative territory (-2.3 per cent), after witnessing a high growth rate of 13.6 per cent in 2006-07. "However, in 2008-09, the industry has witnessed a modest growth of three per cent,'' the pre-Budget Economic Survey, tabled in Parliament, noted. But, the utility and commercial vehicle segment remained an area of concern with negative growth rates of (-) 11.9 per cent and (-) 24 per cent, respectively. The domestic turnover of the sector in 2008-09 was about Rs 2,18,996 crore, while exports totalled Rs 31,782 crore. Taken together, domestic as well as export figures, the total size of India's auto industry was Rs 2,50,778 crore during that fiscal. "The turnover and the exports of the automobile vehicle industry in 2008-09 were at Rs 1,42,646 crore and Rs 16,782 crore,'' the Survey said. http://www.thehindubusinessline.com/blnus/03021666.htm http://www.hindu.com/2009/07/03/stories/2009070355831300.htm PTI See this story in: Hindustan Times (Web & Print Edition) New Delhi: Even as the first one lakh successful applicants of the Tata Nano await delivery of their cars, netizens are busy getting a virtual feel of the worlds smallest car. With more than 2.5 million users since April, the Nano game on Zapak.com is a huge hit. The game allows the gamer to test drive the Nano virtually even before it hits the road. The game is quick, engaging and fun. It is doing fabulously well and with more than 2.5 million game plays, it is one of the largest played online games for Zapak.com, chief marketing officer of Zapak Digital Entertainment, Arun Mehra, said. In the racing game, the player has to reach the destination within a specified time limit. He begins by styling his Nano and chooses its colour, wheels, etc. The car is then ready for a drive. The player has to manoeuver the Nano between pedestrians crossing the road and other obstacles like manholes, etc. The game has been designed in a way so as to portray the features of the car in a subtle way, Mehra said. The game is the result of a tie-up between Tata Motors and the Reliance-Anil Dhirubhai Ambani Group (R-ADAG)-owned Zapak.com. http://www.hindustantimes.com/StoryPage/StoryPage.aspx?sectionName=Business&id=5301697b-29e1-4215-a575-8cc2518577cc&Headline=Test+drive+the+Nano+on+Zapak | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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CARS, SUVs, MUVs Go To Top Manu P. Toms The Hindu Business Line (Web & Print Edition) Mumbai: Despite sales being quite buoyant in the first quarter, the passenger car industry is still cautious about the future. Market leader Maruti Suzuki grew 18 per cent to clock 2.27 lakh units in the April-June period while Hyundai Motor India was up 12 per cent at 1.35 lakh cars. Mahindra & Mahindras utility vehicle range showed a 28 percent increase at 48,720 units. Only sales of Tata Motors cars fell 15 per cent to 45,000 units in the quarter. Maruti has been consistently outperforming the industry growth rate of around five per cent. However, the auto sector is not out of the woods yet and it is still too early to predict a positive outlook, said Mr Mayank Pareek, Executive Officer, Marketing, Maruti Suzuki. The growth we are seeing now is largely due to new models. We cannot say the worst is behind us because the market continues to be tough. The second quarter may also see growth mainly because of the low base though, last year, the decline had begun from July, said Mr Arvind Saxena, Senior Vice-President, Sales & Marketing, Hyundai Motor India. Export boost For these top carmakers, the scrapping incentives in Europe have boosted export sales coupled with the fad for small cars in Europe. Hyundai shipped 72,000 units of i20 in the last couple of months, while exports of Marutis A-Star have crossed 45,000 units since January. While there were positives in the form of an interest rate cut, excise duty reduction and easier credit, there are grim realities to contend with such as poor rains and fuel price hike. The fuel price increase is not good news and could create a shock effect. However, customers will eventually revert to normal buying. As for the rains, they have been good for the last four years and one marginal blip may not impact sales greatly, Mr Pareek said. The hike will not influence buying decisions and what we are more concerned about is the Budget, Mr Saxena added. There are also apprehensions that there will be a rollback of duty cuts announced in the recent stimulus package. We saw some signs of revival in the last couple of months. Policies should be made taking into account long-term growth of the industry and cannot be changed every now and then, Mr Pareek said. We are certainly not on a growth path. The Government knows well what needs to be done for long-term growth of the industry, said Mr Pawan Goenka, President, Auto Sector, M&M. http://www.thehindubusinessline.com/2009/07/03/stories/2009070351250200.htm AUDI INDIA GROWS 165% IN JUNE German luxury car manufacturer, Audi, recorded its best-ever sales in a month in India at 204 units in June, an increase of 165 per cent against 77 units sold during the same month last year. During the first half on this year, Audi posted a growth of 75 per cent selling 821 units during the January-June period, against 470 units sold in the same period last year, the company said. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
COMMERCIAL VEHICLES Go To Top T. Murrali The Hindu Business Line (Web & Print Edition) Chennai: Ashok Leyland has bagged a Rs 300-crore order for 1,500 buses from Tamil Nadu State Transport Corporation. The Corporation is buying the buses with funding from the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) scheme. (Under the scheme, funding is available to the various State transport undertakings for the purchase of up to 15,000 buses, worth Rs 4,800 crore.) Mr Rajiv Saharia, Executive Director, Ashok Leyland, told Business Line that the buses will be semi-low floor and delivered in fully built condition. Ashok Leyland has so far clinched orders for more than 5,000 buses from various State Transport Undertakings including the current order under JNNURM scheme. In most of the cases the prototypes have been approved and production commenced. Of the 1,500 buses 900 will be for Chennai and 300 each for Madurai and Coimbatore. Most of the buses will be built by Irizar-TVS Ltd, which is a three-way joint venture of Ashok Leyland, TV Sundram Iyengar & Sons and Irizar of Spain. All the buses will be fitted with passenger information system and will be delivered in five to six months, he said. http://www.thehindubusinessline.com/2009/07/03/stories/2009070351130200.htm | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2/3 WHEELERS Go To Top PTI See this story in: The Statesman New Delhi: Two-wheeler maker Bajaj Auto has reported a 4.52 cent fall in motorcycle sales at 1,67,945 units in June against 1,75,903 units in the same month last year. BAL's exports, however, went up by 4.39 per cent to 67,726 units in June from 64,878 units a year ago. The company's total vehicle sales stood at 1,93,202 units last month compared to 1,96,741 units in the same period a year ago, down 1.80 per cent, the statement said.
http://www.thestatesman.net/page.news.php?clid=12&theme=&usrsess=1&id=259938 ROYAL ENFIELD TO BRING ITS GLOBAL THUMPERS HOME Pranav Nambiar Daily News & Analysis Bangalore: Enfield fans will soon be treated to more royalty. Eicher Motors-owned Royal Enfield will open the gates for much-awaited international models including the new Bullet Classic C5 by 2010. Shaji Koshy, divisional general manger, sales and marketing, said that several Indian models are already being customised by local garages to sport the looks of its international variants. "There is a latent demand for our international models in India. Hence, we would look to leverage play by introducing these models by 2010," he said. The company is currently working on the necessary regulatory clearances to introduce these bikes. Most of its international bikes sport a 500 cc engine, while in India a large chunk of its sales comes from the 350 cc category. Some of the popular models sold in the US include Bullet G5 Classic (EFI), Bullet G5 Military and Bullet 500 Deluxe. "These models are homologised in Europe and the US to meet their specific rules and regulations connected to emissions and safety. We are working on making the necessary changes required to meet Indian conditions," Koshy said. The company is also adding around 5 new exports destinations to its existing 28, in an effort to boost its exports share to 10% of overall sales from the current 6%. Exports currently constitute around 6% of its overall sales which it targets to increase to 10%. "We will soon begin exporting to Belgium, Sweden, Norway, Israel and Canada as well. Since 2008 we have put a renewed thrust on expanding our exports," added Koshy. The company will also launch two more domestic models in India by next March. These bikes will be based on the unit construction engine-electric fuel injection platform (UCE EFI) which exists on the Thunderbird model. Royal Enfield expects to maintain last year's 18% sales growth this year as well. Last year, it sold 44,000 units of its Thunderbird Twinspark, Bullet Machismo, Bullet Electra and Bullet 350 in India. While Thunderbird is its most popular brand in the metros, Electra is the best performer in the non-metros. By January 2010 the company will have a 60,000-unit annual manufacturing capacity at its Chennai plant. http://www.dnaindia.com/money/report_royal-enfield-to-bring-its-global-thumpers-home_1270551 GEARLESS SCOOTERS IN TOP GEAR; VROOM BACK Pranav Nambiar Daily News & Analysis Bangalore: Geared scooters of the Lambretta fame constituted nearly all two-wheelers sold in the 1970s and 1980s. The advent of sporty motorbikes in the 1990s, particularly from the Japanese stable, left scooters huffing and puffing.
Albeit, this time around, scooters managed to shirk their image of creaking gears and noisy engines with suave looks and fuel efficient features. A research report by rating agency Credit Analysis & Research Ltd (CARE) has revealed that while gearless scooters had a market share of 10% of the two-wheeler market in FY 2006, it climbed to almost 16% last fiscal. The comparable data for motorbikes shows that market share has fallen from 82% to 79%. "Even as geared scooters have almost been phased out, gearless scooters have begun to eat into the pie of motorbikes. Equipped with latest technology, scooters are growing at a faster clip than motorbikes," said Revati Kasture, head, CARE Research. Last fiscal, the two-wheeler market, including motorbikes, scooters and mopeds, grew by around 2.5% year-on-year to 7.4 million units. The scooter segment grew 10% to 1.2 million units. "Multiple user profile of gearless scooters is driving sales. The entire family can use it unlike motorbikes, which are typically used by males," said N K Rattan, head sales and marketing, HMSI. The company has a one-month waiting period for its new Activa. It also offers Dio and Aviator in the same segment. An official from Suzuki Motorcycle said that unlike motorbikes, most scooter purchases are swifter and hassle-free as they are cash based. This helped sales particularly last fiscal when banks were unwilling to lend auto loans. They are priced between Rs 26,000 for Scooty Teenz and Rs 46,000 for Suzuki Access. Manufacturers say they are popular among women and sell more in urban areas. "Several scooters have been introduced in recent years as it's an under-tapped segment. It's not surprising to see more players entering the fray and further eating into motorbike sales," said S Srinivas, general manager (marketing), TVS Motors. TVS will launch a new gearless scooter this year, expected to be superior to its current Scooty range.It recorded a 21% growth in scooter sales at 25,945 units in June compared to an overall two-wheeler sales growth of 6% at 1,15,488 units. http://www.dnaindia.com/money/report_gearless-scooters-in-top-gear-vroom-back_1270557 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
COMPONENTS Go To Top The Economic Times See similar story in: Business Standard Coimbatore: Coimbatore-based Roller chain manufacturer, LG Balakrishnan & Bros (LGB) is acquiring a local gear and gear boxes maker, MM Gears promoted by two first-generation entrepreneurs. http://www.business-standard.com/india/news/lg-balakrishnan-to-acquire-mm-gears/362718/ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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FINANCE & INSURANCE Go To Top The Hindu Business Line Mumbai: Mahindra Navistar Automotives Ltd, the commercial vehicle joint venture between M&M and Navistar Inc of US, has signed a memorandum of understanding with Bank of India for vehicle finance. http://www.thehindubusinessline.com/2009/07/03/stories/2009070351010600.htm | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LUBRICANTS & ALTERNATIVE FUELS Go To Top AFP See this story in: The Times of India Singapore: Oil prices has recovered modestly but remained below $70 in Asian trade after overnight losses on US energy demand concerns, analysts said. http://timesofindia.indiatimes.com/Business/Oil-makes-modest-gains-still-below-70/articleshow/4727333.cms | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
INTERNATIONAL NEWS Go To Top AP Detroit: US car and truck sales showed signs of stabilising in June after a year of sharp declines, but every major automaker except Honda Motor reported lower sales than in May. Still, year-over-year declines last month slowed for four of the six major carmakers, with Ford Motor reporting the smallest drop in a year at 10.7% when compared with June of 2008. Even Chrysler, which emerged from bankruptcy protection early in June, saw its year-over-year sales decline shrink, and analysts say thats among the signs that an auto industry slump that began with $4 per gallon gasoline last summer could be leveling off. Economists say there are signs that the economy is recovering, with housing starts rising more than expected in May and wholesale prices remaining in check. But the Conference Board reported Wednesday that consumer confidence fell unexpectedly in June. Were making steady progress, Jim Farley, Fords group vice president of marketing, said in a statement. We remain grounded, however, given challenging industry and economic conditions. Fords year-over-year sales drop was the smallest of the six largest automakers. General Motors sales slid 33.4% despite incentives and discounts on its Pontiac brand, while Toyota Motor sales were off 32%. Honda Motor saw a 30% decline. Nissan Motor was down only 23%. GM PLANS 'GARAGE SALE' FOR TOXIC PLANTS Bloomberg See this story in: Business Standard New York: As General Motors Corp prepares to sell its best assets to a streamlined new entity, the worst of what it owns will be auctioned off in bankruptcy court, including contaminated factory sites, parking lots in Flint, Michigan, and a nine-hole golf course in New Jersey. One property the carmaker is ditching is a foundry in Massena, New York, bordered on the east by the St. Regis Mohawk Indian Reservation and on the north by the St Lawrence River. Built to make aluminum cylinder heads for the Chevrolet Corvair in the 1950s, it generated PCB sludge and waste from hydraulic fluids. It was created by GM dumping hazardous waste on the banks of the river, such that the waste oozed into the water and the land, said John Privitera, a lawyer for the tribe at McNamee Lochner Titus & Williams PC in Albany, New York. It was picked up by animals and moved up the food chain through fish and into Mohawk women into their breast milk, into their babies. The largest US automaker, following its smaller rival Chrysler LLC, is using the bankruptcy process to spin off a new entity with reduced costs and debt while leaving the old GM with unwanted property and obligations to creditors, dealers, retirees, accident victims and environmental agencies. The discarded assets will be all that creditors have to satisfy their claims as GM starts to unwind liabilities of $172.8 billion more than twice its reported assets. The pollutants at the Massena site wound up in the St Lawrence River, migrated to the reservation and put the property in the New York State Registry of Hazardous Waste Sites and on the federal superfund list of contaminated places. While the Massena site is eligible for federal cleanup money, according to Privitera, some of the cost may come out of creditors hide, a GM restructuring official testified. It would cost GM as much as $225 million to clean up the site and restock the river with edible fish if it held on to the property, Privitera estimated. At the first day of hearings on GMs proposed asset sale restructuring chief Albert Koch estimated on June 30 that the companys environmental liabilities for all sites are $530 million. Chief Executive Officer Fritz Henderson said money needed to wind down the old GM was $1.25 billion, up from an earlier estimate of $950 million, because of a reassessment of the environmental liabilities. The Treasury has said it would leave sufficient cash in GMs bankruptcy estate to fund a wind down, though it hasnt provided a written commitment for more funding, Koch said. Without sufficient cash from the Treasury to cover any shortfall, old GM might have to sell some of the 10 per cent stake and warrants that it will get from the reorganised company as earmarked funds to pay off creditors, he said. The golf course on GMs hit list, the Hyatt Hills Golf Complex in Clark, New Jersey, was built on the reclaimed site of a factory that began by making hard rubber steering wheels and door handles for the automaker in 1938. The Newark Star-Ledger called it the best conditioned nine-hole course in New Jersey. A Web site tour of the course shows parts of it abutting power lines, a railroad track and a line of telephone poles. Union County residents are charged $18 to play nine holes. The new GM hardly needs to be in the golf course business, said Tom Wilkinson, GMs director of news relations, in an e-mail. The old GM will be selling a lot of potentially valuable but peripheral property the company accumulated over 100 years, kind of like a big garage sale. You will see some really good real estate deals come out of this for investors and communities. Calls seeking comment from Dan Hollis, Hyatt Hillss golf operations manager, and Robert Hoeffler, executive director, werent returned. Cleanup work already done on the Hyatt Hills site should have taken care of any issues, Wilkinson said. New York Attorney General Andrew Cuomo on Wednesday recommended that the bankruptcy judge in charge of the GM case scrutinise the carmakers proposed asset sale to make sure environmental obligations arent avoided. New York State in a court filing earlier listed 11 GM sites that have contamination or ongoing environmental compliance obligations such as cleaning up soil, sediment, surface and groundwater and long-term monitoring, including property in Syracuse, Rochester and Buffalo. The company plans to leave behind 16 plants and associated real estate in Delaware, Ohio, New York, Indiana, Pennsylvania, Virginia and Michigan, as well as an industrial park in Anderson, Indiana, a former Cadillac site in Detroit, the parking lots in Flint, offices and an employee development center in Pontiac, Michigan, and 76 acres of vacant land in Van Buren, Michigan, among other discarded property. The case is In re General Motors Corp, 09-50026, US Bankruptcy Court, Southern District of New York. http://www.business-standard.com/india/news/gm-plans-garage-sale-for-toxic-plants/362780/ GM SALES FALL 34 PER CENT IN JUNE Agence France-Presse Hindustan Times Chicago: General Motors posted a 34 percent drop in June sales Wednesday but said it had managed to increase its retail sales for the fourth consecutive month despite seeking bankruptcy protection. Total sales fell to 176,571 vehicles in June, but GM said its retail sales rose about 10 percent from May. Sales for the first half were down 41 percent to 954,356 vehicles. "We're pleased with our retail performance for the month, and it shows consumers' strong attraction to our products," said Mark LaNeve, vice president for GM North America vehicle sales, service and marketing. "Customers are cautiously coming back into the market, although the industry remains very weak," he said. "The reinvention of GM remains on track and we have compelling new offers in July." GM was back in court Wednesday seeking approval for a speedy exit from the bankruptcy protection it sought on June 1 by selling off its best assets to a new company in which the US government will hold a majority stake. LaNeve said the proceedings were going well and "we're anticipating a quick sale." GM said its inventories were down 26 percent from June of 2008 at 582,000 vehicles and are on track to approach the half-million mark as planned. HITACHI TO SUPPLY LITHIUM-ION BATTERIES TO GM AP See this story in: Hindustan Times Tokyo: Japanese electronics maker Hitachi Ltd. said Thursday it will supply lithium-ion batteries for hybrid vehicles to General Motors Corp. in 2010 and sharply raise production capacity to meet surging demand for gas-electric cars. Hitachi currently makes 40,000 lithium-ion batteries per month and will lift the capacity to three million units. "We plan to boost our production capacity for lithium-ion batteries as we expect demand for hybrid vehicles will continue to grow worldwide," said Hitachi spokesman Shinya Yamada. He declined to say when Hitachi would lift the capacity. The Nikkei business daily said Thursday that Hitachi would invest around 30 billion yen ($311 million) to raise production capacity. But Yamada declined to confirm the report. Toyota Motor Corp.'s hybrids now use nickel-metal hydride batteries. The world's largest automaker said last month it would use for the first time lithium-ion batteries for its plug-in hybrid cars. Using a lithium-ion battery will produce more energy, allowing hybrid cars to run more as an electric vehicle, but there have been some technological hurdles. http://www.hindustantimes.com/StoryPage/StoryPage.aspx?sectionName=Business&id=687beb94-04f0-4246-b2c0-d4ddd9a50597&Headline=Hitachi+to+supply+lithium-ion+batteries+to+GM | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ECONOMY & FINANCE Go To Top The Hindu Business Line Mumbai: The rupee closed marginally lower due to importer buying. The dollar inflows were low and put pressure on the rupee, said a forex dealer with a private bank. The domestic currency opened higher at 47.76 and closed at 47.95, against the previous close of 47.90/92. Importers bought dollar as they saw value at these levels. This weakened the rupee, said the dealer. In the overseas market, the dollar was strong against the euro and pound, but fell against the yen. There were only customer flows, said the dealer. In the forward premia market, the six-month closed at 2.52 per cent (2.68 per cent) and the one-year at 1.31 per cent (2.4 per cent). http://www.thehindubusinessline.com/2009/07/03/stories/2009070351030600.htm The Hindu Business Line Mumbai: Ignoring some of the positive cues in the Economic Survey for 2008-09, the Sensex ended flat at 14,658 (up 13 points) on Thursday. The index was trading up more than 100 points till midday before it started its descent, post the release of the Survey. The broader Nifty ended 0.18 per cent up at 4,348 points. Marketmen, some of whom described the Survey as rather ambitious, said that investors are waiting for Mondays Budget to see what actually the government would do. The stock market needs instant karma and would stay focused on details in the Budget on Monday. To that extent chances of disappointment remain, as far too much expectation has got built in prior to the budget. The Survey at least should help pare down expectation from the Budget, and motivate the market to see the big picture beyond the Budget, said Mr. Amitabh Chakraborty, President, Equity, Religare Capital Markets. Metal, PSU and realty were the best performing sectoral indices on the BSE, while capital goods and auto performed badly. A total of 1,459 scrips advanced and 1,141 scrips declined. http://www.thehindubusinessline.com/2009/07/03/stories/2009070352150100.htm The Hindu Business Line New Delhi: The annual Wholesale Price Index-based inflation stayed in the negative territory for the third week in a row, falling 1.3 per cent for the week ended June 20 after tumbling 1.14 per cent the previous week. The dip in the year-on-year inflation rate was recorded even as prices of food items such as fruits and vegetables rose compared with the same period last year. Headline inflation during the corresponding week last year was recorded at 11.91 per cent. The official WPI for All Commodities for the latest reported week rose by 0.2 per cent to 234.6 points from 234.2 points for the previous week. Primary articles group On a disaggregated basis, the Primary Articles group index rose by 0.5 per cent as the index for Food Articles group rose by 0.6 per cent due to higher inflation in case of fruits and vegetables (4 per cent) and arhar (1 per cent). However, the prices of fish-marine and tea (4 per cent each) and jowar (3 per cent) declined. The index for Non-Food Articles group rose by 0.3 per cent due to higher prices of fodder (4 per cent) and groundnut seed (2 per cent). However, the prices of raw wool (4 per cent), raw silk and raw rubber (2 per cent each) and copra and linseed (1 per cent each) declined. The Fuel and Power group rose by 0.1 per cent due to higher prices of naphtha (2 per cent). Manufactured Products The Manufactured Products group rose by 0.05 per cent as the index for Food Products group rose marginally due to higher prices of cakes and sweet roles (9 per cent) and sugar (1 per cent). However, the prices of rice bran oil (4 per cent) and imported edible oil and cotton seed oil (2 per cent each) declined. The index for Textiles group rose by 0.3 per cent due to higher prices of hessian cloth (6 per cent) and hessian and sacking bags (2 per cent). The index for Paper and Paper Products group rose by 0.5 per cent due to higher prices of news paper (5 per cent) and poster paper (1 per cent). The index for Rubber and Plastic Products group declined by 0.1 per cent due to lower prices of PVC fitting and accessories (3 per cent). Chemicals & Chemical Products The index for Chemicals and Chemical Products group rose marginally due to higher prices of phenol (15 per cent) and PVC resins (5 per cent). The index for Machinery and Machine Tools group declined by 0.2 per cent due to lower prices of PVC insulated cables (4 per cent). However, the prices of hydraulic pumps (1 per cent) moved up. The index for Transport Equipment and Parts group declined by 0.1 per cent due to marginal decline in the prices of other automobile spare parts. For the week ended April 25, the final WPI for All Commodities stood at 233.1 points as compared to the provisional estimate of 230.7 points while the annual rate of inflation based on final index, calculated on point to point basis, stood at 1.75 per cent, as compared to 0.70 per cent points reported provisionally. http://www.thehindubusinessline.com/2009/07/03/stories/2009070351320700.htm Last Financial closing
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Thursday, July 2, 2009
Indian Auto Industry Update July 03, 2009
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