Wide plate price remain flat on Oct 23

PLTS
GR B
12-20x2.5


Location Change

Mumbai 0

Chennai 0

Kolkata 0

Delhi 0

Raipur 0

Kanpur 0

Rudrapur 0

Ahmedabad 0

Indore 0

Bangalore 0


Change is on October 23rd as compared to October 22nd 2009
Change is in INR per tonne

To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.

(Sourced from www.steelprices-india.com)

Steel angle prices drop in Ahmedabad on Oct 23

ANGL
GR A
65X6


Location Change

Mumbai 0

Chennai 0

Kolkata 0

Delhi 0

Mandi 0

Raipur 0

Kanpur 0

Rudrapur 0

Ahmedabad -225

Indore 0

Bangalore 0


Change is on October 23rd as compared to October 22nd 2009
Change is in INR per tonne

To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.

(Sourced from www.steelprices-india.com)

Wire rod prices remain flat in major places

WRC
SWR14
5.5/6


Location Change

Chennai 0

Kolkata 0

Delhi 0

Raipur 0

Kanpur 0

Rudrapur 0


Change is on October 23rd as compared to October 22nd 2009
Change is in INR per tonne

To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.

(Sourced from www.steelprices-india.com)

Rebar (TMT) price drop in Rudrapur on Oct 23

TMT
Fe 415
12mm


Location Change

Mumbai 0

Chennai 0

Kolkata 0

Delhi 0

Mandi 0

Kanpur 0

Rudrapur -200

Ahmedabad 0

Hyderabad 0

Indore 0

Bangalore 0


Change is on October 23rd as compared to October 22nd 2009
Change is in INR per tonne

To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.

(Sourced from www.steelprices-india.com)

CR price movement in India on Oct 23

CR
DSK
0.63


Location Change

Mumbai 0

Chennai 0

Kolkata 0

Delhi -1848

Pune 0

Kanpur 0

Rudrapur -267

Ahmedabad -462

Bangalore 0


Change is on October 23rd as compared to October 22nd 2009
Change is in INR per tonne

To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.

(Sourced from www.steelprices-india.com)

Patra (Narrow HR strips) price remains flat on Oct 23

Patra


Location Change

Delhi 0

Mandi 0

Ludhiana 0


Change is on October 23rd as compared to October 22nd 2009
Change is in INR per tonne

To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.

(Sourced from www.steelprices-india.com)

http://www.steelguru.com/news/index/2009/10/24/MTE3NDY3/Patra_%2528Narrow_HR_strips%2529_price_remains_flat_on_Oct_23.html

HRC prices drop in Delhi and Ludhiana on Oct 23

HRC
Tube
2.5x1250


Location Change

Mumbai 0

Kolkata 0

Delhi -1201

Ludhiana -370

Ahmedabad 0

Bangalore 0


Change is on October 23rd as compared to October 22nd 2009
Change is in INR per tonne

To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.

(Sourced from www.steelprices-india.com)

Iran intends to engage China and India in oil extraction

RIA Novosti cited Mr Hussein al-Shahristani oil minister of Iraq as saying that oil output at Iraq's 3 giant oil fields will be tripled in the next 6 years to 7 million barrels per day.

The minister said that foreign companies' investment in the West Qurna, az Zubair and Rumeila fields

http://www.steelguru.com/news/index/2009/10/24/MTE3NDgz/Iran_intends_to_engage_China_and_India_in_oil_extraction.html

Mr Sudhir Kumar appoints as part time director of NHPC

NHPC Ltd has informed BSE that the ministry of power has appointed Mr Sudhir Kumar joint secretary (Hydel) Ministry of Power, as a part time director on the board of the company with effect from October 21.

(Sourced from http://www.steelguru.com/news/index/2009/10/24/MTE3NDcz/Mr_Sudhir_Kumar_appoints_as_part_time_director_of_NHPC.html

Aditya Birla group inks pact for INR 1500crore port in Orissa

The Orissa government signed a memorandum of understanding with the Aditya Birla Group for the setting up of INR 1500 crore captive port at Chudamani in Bhadrakh district.

Mr P K Jena commerce and transport secretary and Mr K Muralidharan CEO of ABG signed the papers in the presence of the

http://www.steelguru.com/news/index/2009/10/24/MTE3NDcy/Aditya_Birla_group_inks_pact_for_INR_1500crore_port_in_Orissa.html

HCC bags INR 167 crore water supply project in Gujarat

HCC a leading construction, real estate and infrastructure company, has bagged INR 167.67 crore engineering procurement construction contract for the 62.28 kilometer long water supply scheme from Sonaria to Kesaria by Gujarat Water Infrastructure Ltd.

The project that aims to transmit

http://www.steelguru.com/news/index/2009/10/24/MTE3NDcx/HCC_bags_INR_167_crore_water_supply_project_in_Gujarat.html

HCC bags water supply project in Gujarat

India's leading engineering and infrastructure Development Company HCC has been awarded INR 1,676.70 million contract for water supply scheme from Kesaria to Sonaria by Gujarat Water Infrastructure. It is an EPC contract for pumped water supply scheme and will be completed in 18 months.

The project aims at transmitting 12,442 million gallons of drinking water drawn from Kesaria to Sonaria through 62 to 28 kilometers long mild steel pipeline from where the enroute rural areas with over 100 villages in Rajula and Una Taluka of Amreli and Junagadh district will be served.

HCC will be responsible for engineering, procurement and construction of all items including civil and associated infrastructure works comprising of supply, installation, testing and commissioning of all electromechanical plant and machinery including pumping station.

HCC will construct two reservoirs, one at Kesaria along with pumping station and second at Veeraval and a 62.28 kilometers pipeline connecting these two reservoirs.

(Sourced from http://www.steelguru.com/news/index/2009/10/23/MTE3MTYx/HCC_bags_water_supply_project_in_Gujarat.html)

SAIL reschedules board meeting to Oct 30

Steel Authority of India Limited has announced with reference to the earlier announcement dated October 14th 2009 regarding Q2 results on October 22nd 2009 that due to some unavoidable circumstances the above meeting of the Board of Directors is being deferred and would now be held on October 30th 2009.

(Sourced from http://www.steelguru.com/news/index/2009/10/23/MTE3MTYw/SAIL_reschedules_board_meeting_to_Oct_30.html)

Chettinad Cement Corp net up by 30pct for September quarter

Chettinad Cement Corporation announced a substantial rise in standalone net profit for the quarter ended September 2009. During the quarter, the profit of the company rose 30.24% to INR 444.90 million from INR 341.60 million in the same quarter previous year.

Net sales for the quarter for the quarter rose 29.94% to INR 3,647.40 million, while total income for the quarter rose 30.25% to INR 3,665.20 million, when compared with the prior year period. It reported earnings of INR 15.08 a share during the quarter, registering 2.63 times growth over previous year period.

During the quarter, the operating margin of the company rose by 596.37 basis points to 41.36% compared with the previous year period. Interest cost increased 77.86% to INR 226.60 million while depreciation cost rose 8.13% to INR 642.50 million over previous year period.

http://www.steelguru.com/news/index/2009/10/23/MTE3MTU5/Chettinad_Cement_Corp_net_up_by_30pct_for_September_quarter.html

Visakhapatnam Port shortlists bidders for coal handling project

It is reported that the Visakhapatnam Port Trust has reportedly shortlisted five consortiums and one firm for the proposed mechanization of coal handling facilities and upgradation of general cargo berths at its outer harbour to cater to 200,000 deadweight tonnage capacity vessels.

The five

Sourse From: http://www.steelguru.com/news/index/2009/10/23/MTE3MTU4/Visakhapatnam_Port_shortlists_bidders_for_coal_handling_project.html

Kerala cabinet clears INR 450 crore for Vizhinjam ICTT project

It is reported that the Kerala cabinet is reported to have cleared INR 450 crore for work on the initial phase of the proposed Vizhinjam International Container Transhipment Terminal project.

The Vizhinjam International Seaport Ltd a company floated by the state government to implement the


http://www.steelguru.com/news/index/2009/10/23/MTE3MTU3/Kerala_cabinet_clears_INR_450_crore_for_Vizhinjam_ICTT_project.html

Directory of Steel Tube Manufacturers in India

Directory of Steel Tube Manufacturers In India' in India is one of the top sources of information available on a steel tube makers in India. It is one of the most comprehensive and accurate directory of steel tubemakers in India that ever published. This powerful directory is your connection

http://www.steelguru.com/news/index/2009/10/23/MTE3MTU2/Directory_of_Steel_Tube_Manufacturers_in_India.html

Shipbuilders concentrating on repairs to stay afloat

Exim News Service reported that shipbuilding companies in the country which are in the doldrums now because of the global economic meltdown that has whittled down orders for new buildings have begun to focus on repairs in a big way.

Since new building orders for bigger ships are drying up,

Sourse From: http://www.steelguru.com/news/index/2009/10/23/MTE3MTU1/Shipbuilders_concentrating_on_repairs_to_stay_afloat.html

SCI ink shipyard MoU with Cochin Shipyard

It is reported that leading Indian shipowner Shipping Corporation of India signed a MoU with Cochin Shipyard for cooperation in the offshore sector. The agreement was signed by S Hajara chairman & MD of SCI and Mr Commodore Jitendran chairman & MD of CSL during the opening session of the

http://www.steelguru.com/news/index/2009/10/23/MTE3MTU0/SCI_ink_shipyard_MoU_with_Cochin_Shipyard.html

INDSPI - SENSEX for domestic steel prices in India

Amidst the currently prevailing volatile and speculative steel price scenario in India, SteelGuru.com has started the much needed barometer to track and measure the price movements on daily basis.

In order to provide an index for steel prices, we call it SENSEX for steel, SteelGuru.com

http://www.steelguru.com/news/index/2009/10/23/MTE3MTUz/INDSPI_-_SENSEX_for_domestic_steel_prices_in_India.html

SCCL to enter into power generation business

TOI reported that Singareni collieries will enter into the field of power generation by setting up a 600 MW coal-based power plant at Jaipur mandal in Adilabad district and Mr K Rosaiah Chief Minister of Andhra Pradesh would soon lay the foundation stone for the project that is scheduled to

http://www.steelguru.com/news/index/2009/10/23/MTE3MTUy/SCCL_to_enter_into_power_generation_business.html

Slowdown signs - DLF may scrap 270 row houses project in Bangalore

DLF is unlikely to go ahead with its decision to develop 270 row houses spread over 38 acre a part of the company’s large development project coming up at Jigani Industrial Area in Bangalore at a proposed investment of INR 300 crore.

The row houses project form a part of the Phase I of the INR 1,000 crore development plan and expected to take off early next year. Each row house is likely to cost between INR 7 million to INR 8 million.

DLF will focus on mid-income homes and commercial complexes with deferment of high-margin launches in luxury homes and retail space.

(Sourced from http://www.steelguru.com/news/index/2009/10/22/MTE2OTg5/Slowdown_signs_-_DLF_may_scrap_270_row_houses_project_in_Bangalore.html)

MIDC to develop areas around Delhi Mumbai corridor

Project Today reported that Maharashtra Industrial Development Corporation is planning to develop the area around the proposed Delhi to Mumbai Industrial Corridor. The areas to be developed include Nashik, Pune, Thane, Mumbai and Raigad.

As per report the MIDC has appointed ILFS and Richard Wilson as its consultants for the job. The MIDC is expected to draw out its plan of action after receiving the economic potential study report.

The DMIC will pass through Uttar Pradesh, Delhi, Haryana, Rajasthan, Gujarat and Maharashtra with end terminals at Dadri in Delhi and Jawaharlal Nehru Port Trust.

(Sourced from http://www.steelguru.com/news/index/2009/10/22/MTE2OTg4/MIDC_to_develop_areas_around_Delhi_Mumbai_corridor.html)

Indian Railway revenue up by 16pct in 10 days

It is reported that total approximate earnings of Indian Railways on originating basis during the period from October 1st to 10th 2009 were INR 2173.34 crore as compared to INR 1879.01 crore during the same period last year, registering an increase of 15.66%.

The total goods earnings have gone up from INR 1227.14 crore during the period from October 1st to 10th 2008 to INR 1431.58 crore during October 1st to 10th 2009 showing an increase of 16.66%.

Sourse From: http://www.steelguru.com/news/index/2009/10/22/MTE2OTg3/Indian_Railway_revenue_up_by_16pct_in_10_days.html

Indiabulls Power IPO likely to be fixed at INR 45

NEW DELHI: The initial public offering of Indiabulls Power which generated huge investor response is likely to be priced at the higher end of the price band at INR 45 a share.

Investment banking sources said that the issue price for the IPO has been decided to be fixed at the upper end of

http://www.steelguru.com/news/index/2009/10/22/MTE2OTg2/Indiabulls_Power_IPO_likely_to_be_fixed_at_INR_45.html

MOL renews long term lease pact for box terminal with Port of Los Angeles

Mr Akimitsu Ashida president of Mitsui OSK Lines Ltd has announced that its wholly owned terminal operator TraPac Inc with headquarters at Los Angeles renewed its long-term lease contract for a container terminal at the Port of Los Angeles.

The new contract was signed on October 15 in the

Sourse From: http://www.steelguru.com/news/index/2009/10/22/MTE2OTg1/MOL_renews_long_term_lease_pact_for_box_terminal_with_Port_of_Los_Angeles.html

Oil industry safety awards presented for 2008-09

Mr Murli Deora minister of Petroleum & Natural Gas has said that necessary steps would be taken to make Oil Industry Safety Directorate statutory body for the entire upstream and downstream sectors of the oil and gas industry.

Speaking at the Oil Industry Safety Awards presentation ceremony


http://www.steelguru.com/news/index/2009/10/22/MTE2OTg0/Oil_industry_safety_awards_presented_for_2008-09.html

RIL eying oil refiners in US and Europe

BS reported that Mr Mukesh Ambani after completing the world’s largest oil refining complex at Jamnagar in Gujarat has now set his eyes on owning refining assets in the US and Europe.

His Reliance Industries has initiated preliminary discussions with US based refiners such as Valero

http://www.steelguru.com/news/index/2009/10/22/MTE2OTgz/RIL_eying_oil_refiners_in_US_and_Europe.html

SCI takes delivery of MR product tanker MT Swarna Kalash

The Shipping Corporation of India on October 10 accepted delivery of a medium range product tanker MT Swarna Kalash. As per report delivery of the vessel was taken by Mr Umesh C Grover director of SCI.

This is the first large commercial vessel acquired by any Indian shipping company from

Sourse From: http://www.steelguru.com/news/index/2009/10/22/MTE2OTgy/SCI_takes_delivery_of_MR_product_tanker_MT_Swarna_Kalash.html

Mangalore SEZ plans petcoke project

Mangalore SEZ which is being developed jointly by Mangalore Refinery and Petrochemicals, Infrastructure Leasing & Financial Services and the Karnataka Government proposes to invest INR 4,000 crore to INR 4,500 crore in converting petcoke into energy and high value chemicals for its potential

http://www.steelguru.com/news/index/2009/10/22/MTE2OTgx/Mangalore_SEZ_plans_petcoke_project.html

Listed PSUs may not be exempt from 25pct pub holding proposal

It is reported that government is considering a proposal to increase public holding in listed state owned companies to 25% a move that would result in a host of follow on public offers.

The finance ministry has started the process of drafting rules to increase public holding in the listed companies in which the promoter holds more than 75% stake.

A senior ministry official told a news agency that "It would be explicit...there would be no exception. This would include public sector companies as well.”

The draft will be released soon for public comments. The official said that "The process (to draft rules) has started. The framework would be ready by this year end.”

The government has to amend the Securities Contracts (Regulation) Rules for the purpose. The rules provide for the requirements which have to be met with by public companies for the purpose of getting their securities listed on any stock exchange.

And once the framework is out, a slew of follow on public offers is expected to hit the market as about 180 companies have less than 25% public holding.

Among the leading PSUs where promoter, the government, holding is well above 75% are MMTC, NMDC, Hindustan Copper, Power Grid, NTPC, SAIL, Shipping Corporation, Neyveli Lignite.

Mr Pranab Mukherjee finance minister of India had said the average public float in Indian listed companies is less than 15%. Deep non manipulable markets require larger and diversified public shareholdings. He added that "This requirement should be uniformly applied to the private sector as well as listed public sector companies. I propose to raise, in a phased manner, the threshold for non-promoter public shareholding for all listed companies.”

(Sourced from http://www.steelguru.com/news/index/2009/10/21/MTE2OTkx/Listed_PSUs_may_not_be_exempt_from_25pct_pub_holding_proposal.html)

Sesa Goa EGM outcomes

Sesa Goa Ltd has informed BSE that the shareholders at the Extra Ordinary General Meeting of the Company held on October 20th 2009 inter alia have unanimously passed two resolutions as set out in the Notice dated September 24th 2009 approving raising of funds upto INR 6000 crores in the form of Foreign Currency Convertible Bonds, Qualified Institutional Placements to Qualified institutional bidders, American depository receipts, Global depository receipts, non convertible debentures, warrants or any other security as per the statutory regulations prevailing at the time when the transaction is entered into, under Sections 81(1A), 293(1)(a) of the Companies Act 1956 and empowering the Board to borrow monies not exceeding INR 6000 crores in terms of Section 293 (1)(d) of the Companies Act 1956.

http://www.steelguru.com/news/index/2009/10/21/MTE2OTkw/Sesa_Goa_EGM_outcomes.html

Indian Railway revenue up by 16pct in 10 days

It is reported that total approximate earnings of Indian Railways on originating basis during the period from October 1st to 10th 2009 were INR 2173.34 crore as compared to INR 1879.01 crore during the same period last year, registering an increase of 15.66%.

The total goods earnings have gone up from INR 1227.14 crore during the period from October 1st to 10th 2008 to INR 1431.58 crore during October 1st to 10th 2009 showing an increase of 16.66%

Sourse From: http://www.steelguru.com/news/index/2009/10/21/MTE2OTg3/Indian_Railway_revenue_up_by_16pct_in_10_days.html

MIDC to develop areas around Delhi Mumbai corridor

Project Today reported that Maharashtra Industrial Development Corporation is planning to develop the area around the proposed Delhi to Mumbai Industrial Corridor. The areas to be developed include Nashik, Pune, Thane, Mumbai and Raigad.

As per report the MIDC has appointed ILFS and Richard

For More Info Go on : http://www.steelguru.com/news/index/2009/10/21/MTE2OTg4/MIDC_to_develop_areas_around_Delhi_Mumbai_corridor.html

Indiabulls Power IPO likely to be fixed at INR 45

NEW DELHI: The initial public offering of Indiabulls Power which generated huge investor response is likely to be priced at the higher end of the price band at INR 45 a share.

Investment banking sources said that the issue price for the IPO has been decided to be fixed at the upper end of

Sourse From: http://www.steelguru.com/news/index/2009/10/21/MTE2OTg2/Indiabulls_Power_IPO_likely_to_be_fixed_at_INR_45.html

MOL renews long term lease pact for box terminal with Port of Los Angeles

Mr Akimitsu Ashida president of Mitsui OSK Lines Ltd has announced that its wholly owned terminal operator TraPac Inc with headquarters at Los Angeles renewed its long-term lease contract for a container terminal at the Port of Los Angeles.

The new contract was signed on October 15 in the

Sourse From: http://www.steelguru.com/news/index/2009/10/21/MTE2OTg1/MOL_renews_long_term_lease_pact_for_box_terminal_with_Port_of_Los_Angeles.html

Oil industry safety awards presented for 2008-09

Mr Murli Deora minister of Petroleum & Natural Gas has said that necessary steps would be taken to make Oil Industry Safety Directorate statutory body for the entire upstream and downstream sectors of the oil and gas industry.

Speaking at the Oil Industry Safety Awards presentation ceremony

http://www.steelguru.com/news/index/2009/10/21/MTE2OTg0/Oil_industry_safety_awards_presented_for_2008-09.html

SCI takes delivery of MR product tanker MT Swarna Kalash

The Shipping Corporation of India on October 10 accepted delivery of a medium range product tanker MT Swarna Kalash. As per report delivery of the vessel was taken by Mr Umesh C Grover director of SCI.

This is the first large commercial vessel acquired by any Indian shipping company from China, which has emerged as one of the largest shipbuilding nations. The vessel is the first of SCI’s two MR product tankers which were being constructed at Jinling Shipyard, a shipyard of repute in China.

Orders for these vessels were placed in December 2006 and the second vessel, i.e. Swarna Pushp is scheduled for delivery to SCI in January 2010.

The vessel has a gross tonnage of 29,845 tonnes and deadweight of 47,878 tonnes. It has been classed with LRS and IRS and built to comply with the latest and most stringent international regulations.

This is the first SCI ship which has been assigned a special Green Passport notation a safe and environmentally-sound approach from the building stage to recycling.

(Sourced from www.steelguru.com)

RIL eying oil refiners in US and Europe

BS reported that Mr Mukesh Ambani after completing the world’s largest oil refining complex at Jamnagar in Gujarat has now set his eyes on owning refining assets in the US and Europe.

His Reliance Industries has initiated preliminary discussions with US based refiners such as Valero

More Info: http://www.steelguru.com/news/index/2009/10/21/MTE2OTgz/RIL_eying_oil_refiners_in_US_and_Europe.html

Mangalore SEZ plans petcoke project

Mangalore SEZ which is being developed jointly by Mangalore Refinery and Petrochemicals, Infrastructure Leasing & Financial Services and the Karnataka Government proposes to invest INR 4,000 crore to INR 4,500 crore in converting petcoke into energy and high value chemicals for its potential

http://www.steelguru.com/news/index/2009/10/21/MTE2OTgx/Mangalore_SEZ_plans_petcoke_project.html

Pipavav Shipyard wins USD 111.8 million order

Private sector shipbuilder Pipavav Shipyard said it has bagged a contract worth USD 111.84 million from ONGC for construction and supply of 12 vessels.

Pipavav Shipyard in a filing to the Bombay Stock Exchange said that the company has bagged an order for the construction and supply of 12

http://www.steelguru.com/news/index/2009/10/21/MTE2OTgw/Pipavav_Shipyard_wins_USD_111.8_million_order.html

Slowdown signs - Vizag Port cargo handling dips in H1

It is reported that Visakhapatnam port saw a marginal decline in its cargo handling at around 33 million tonne during the first half of the current financial year as compared with last year.



Coking coal declined to 3.6 million tonne in the first half of this year, as against 4.8 million

http://www.steelguru.com/news/index/2009/10/09/MTE1MjY3/Slowdown_signs_-_Vizag_Port_cargo_handling_dips_in_H1.html

Agreement signed to bring ShipDecision technology to India

Mr K Chidambaram and Mr RK Mohanty of MC HR Management Pvt Ltd and Mr Albert R Carbone of Stelvio Inc, Montreal Canada announced an agreement which will see Stelvio’s ShipDecision software distributed in India.



Mr Ranjit Mohanty director MC HR Management Pvt Ltd of Chennai India said

http://www.steelguru.com/news/index/2009/10/09/MTE1MjY2/Agreement_signed_to_bring_ShipDecision_technology_to_India.html

Patra (Narrow HR steel strips) price surges in Mandi

Patra
Location Change
Delhi 0
Mandi 185
Ludhiana 0


Change is on October 7th as compared to October 6th 2009
Change is in INR per tonne

To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.

(Sourced from www.steelprices-india.com)

HRC price declines Bangalore on Oct 7

HRC
Tube
2.5x1250
Location Change
Mumbai 0
Kolkata 0
Delhi 0
Ludhiana 0
Ahmedabad 0
Bangalore -444


Change is on October 7th as compared to October 6th 2009
Change is in INR per tonne

To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.

(Sourced from www.steelprices-india.com)

GC (HDG) prices drop in Chennai and Ludhiana

GC
100Gms
0.40
Location Change
Location Change
Mumbai 0
Chennai -1500
Kolkata 0
Delhi 0
Ludhiana -185
Kanpur 0
Rudrapur 0


Change is on October 7th as compared to October 6th 2009
Change is in INR per tonne

To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.

(Sourced from www.steelprices-india.com)

Ship breaking steel scrap price drops by INR 200 at Alang

Product Grade Size Change
Ship Scrap Melting Mixed -200
Plate cuttings Rolling 1" 0


Change is on October 7th as compared to October 6th 2009
Change is in INR per tonne

To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.

(Sourced from www.steelprices-india.com)

Pencil ingot price movement in major places on Oct 7

Pencil ingot
Location Change
Mumbai -200
Kolkata -1109
Mandi 46
Raipur -92
Kanpur 0
Rudrapur 0
Ahmedabad 0
Ghaziabad 100
Muzzafarnagar 0
Hyderabad 0
Raigarh 0
Durgapur -92
Nagpur -92
Jamshedpur -185
Jaipur 100
Rourkela 0
Bhiwari 0


Change is on October 7th as compared to October 6th 2009
Change is in INR per tonne

To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.

(Sourced from www.steelprices-india.com)

Era Infra wins contracts worth INR 146.79 crores

Era Infra Engineering Ltd has announced that the Company has secured two contracts worth INR 1467.987 million.

The company has secured an order for construction of Soochna Bhawan, Phase-V at CGO Complex, Lodhi Road, New Delhi by Prasar Bharti valuing INR 488.773 million

The other contract is for structural Work for setting up Basic Oxygen Furnace & Continuous Casting Shop at Bhilai Steel Plant, Bhilai Chhattisgarh by Steel Authority of India Ltd valuing INR 979.214 million.


http://www.steelguru.com/news/index/2009/10/08/MTE1MTE0/Era_Infra_wins_contracts_worth_INR_146.79_crores.html

Indian Railway revenue earnings up by 6.65pct during April to September

The total approximate earnings of Indian Railways on originating basis during April 1st to September 30th 2009 were INR 40910.49 crore as compared to INR 38358.16 crore during the same period last year registering an increase of 6.65%.

As per report the total goods earnings have gone up from INR 26106.68 crore April 1st to September 30th 2008 to INR 27631.32 crore during April 1st to September 30th an increase of 5.84%.

The total passenger revenue earnings during first six months of the financial year 2009-10 were INR 11573.91 crore as compared to INR 10755.10 crore during the same period last year registering an increase of 7.61%.

The revenue earnings from other coaching amounted to INR 1115.81 crore during April-September 2009 as compared to INR 956.97 crore during the same period last year, an increase of 16.60%.

The total approximate numbers of passengers booked during April to September 2009 were 3685.03 million as compared to 3526.31 million during the same period last year showing an increase of 4.50%. In the suburban and non-suburban sectors, the numbers of passengers booked during April-September 2009 were 1888.51 million and 1796.52 million compared to 1879.87 million and 1646.44 million during the same period last year, an increase of 0.46% and 9.12% respectively.

http://www.steelguru.com/news/index/2009/10/08/MTE1MTEz/Indian_Railway_revenue_earnings_up_by_6.65pct_during_April_to_September.html

Kamdhenu Ispat foray into drinking water business

Kamdhenu Ispat Ltd has informed BSE that the Company launched the packaged drinking water under its franchisee business model.



The franchisee units will produce packaged drinking water under the norms and specification of Kamdhenu Ispat Ltd and market the same under the trade name Kamdhenu

http://www.steelguru.com/news/index/2009/10/08/MTE1MTIz/Kamdhenu_Ispat_foray_into_drinking_water_business.html

Floods may delay expected rise in cement price - Mr Reddy

It is reported that the adverse impact of floods may upset the cement industry in Andhra Pradesh by delaying the expected increase in cement prices.



Mr Srikant Reddy executive director of Sagar Cements Ltd told Business Line that “In the recent past, there has been INR 30 to INR 40


More Info: http://www.steelguru.com/news/index/2009/10/08/MTE1MTIw/Floods_may_delay_expected_rise_in_cement_price_-_Mr_Reddy.html

Work on West Bengal auto park to start next fiscal

BL reported that construction work at the proposed 500 acre auto components park at Guptamoni in West Midnapur district of West Bengal is expected to commence in the next financial year.



According to Mr Sumanta Chaudhury CEO of West Bengal Industrial Infrastructure Development Corporation s

Sourse From: http://www.steelguru.com/news/index/2009/10/08/MTE1MTE5/Work_on_West_Bengal_auto_park_to_start_next_fiscal.html

HEC sees growth in space, defence and nuclear energy

BL reported that Ranchi based Heavy Engineering Corporation is exploring new business opportunities in sectors such as defense, space, power and nuclear energy.



Giving this information at the company’s 50th annual general meeting held recently, Mr GK Pillai CMD of Heavy Engineering

http://www.steelguru.com/news/index/2009/10/08/MTE1MTE4/HEC_sees_growth_in_space%252C_defence_and_nuclear_energy.html

Wide steel plate price falls in Kolkata and Ahmedabad

PLTS
GR B
12-20x2.5
Location Change
Mumbai 0
Chennai 0
Kolkata -277
Delhi 0
Raipur 0
Kanpur 0
Rudrapur 0
Ahmedabad -92
Indore 0
Bangalore 0


Change is on October 6th as compared to October 5th 2009
Change is in INR per tonne

To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.

(Sourced from www.steelprices-india.com)

Ultratech to consider merger of Samruddhi Cement

Ultratech Cement Ltd has announced that Ultratech Cement Ltd has received a consolidation proposal from Samruddhi Cement Ltd a wholly owned subsidiary of Grasim Industries Ltd.



Grasim has proposed to de merge its cement business to Samruddhi pursuant to a scheme of arrangement under

http://www.steelguru.com/news/index/2009/10/07/MTE0OTcx/Ultratech_to_consider_merger_of_Samruddhi_Cement.html

Macroeconomic indicators - Inflation seen at 8pct by March - Nomura

Nomura in a recent note said that India's annual inflation based on wholesale prices could speed to 8% by end March 2010 backed by rising input costs and strengthening economic activity.



Nomura whose inflation estimate is higher than the RBI's projection of around 5% by end March expects

http://www.steelguru.com/news/index/2009/10/07/MTE0OTcw/Macroeconomic_indicators_-_Inflation_seen_at_8pct_by_March_-_Nomura.html

IOC plans 50 MW wind power plant

The Indian Oil Corporation is foraying into wind energy in a bid to evolve into an integrated global energy provider.



With this aim in mind, IOC plans to set up a 50 MW wind power project. The company is looking for possible sites in Gujarat, Rajasthan, Maharashtra and Karnataka and is

http://www.steelguru.com/news/index/2009/10/07/MTE0OTY5/IOC_plans_50_MW_wind_power_plant.html

Prism Cement Q2 profit rises over two fold

Prism Cement reported a rise of over two fold in its net profit for the second quarter ended September 30th 2009 to INR 34.97 crore over the corresponding period a year ago.



Prism Cement in a filing to the Bombay Stock Exchange said that its net sales of the company also rose to INR 228.40

http://www.steelguru.com/news/index/2009/10/07/MTE0OTY3/Prism_Cement_Q2_profit_rises_over_two_fold.html

Rays of recovery - Growth in container traffic likely to continue

According to Mr Srinivasa R Naik director of ministry of shipping, the Eleventh Plan (2007-12) emphasizes the need for increasing investment in infrastructure from 4.6% to 8% of GDP with a focus on augmenting capacity and enhancing the quality and productivity of transport infrastructure

http://www.steelguru.com/news/index/2009/10/07/MTE0OTY1/Rays_of_recovery_-_Growth_in_container_traffic_likely_to_continue.html

BEML bets big on components biz

The public sector heavy equipment major BEML Ltd which is putting up a Greenfield plant at Palakkad in Kerala, expects the upcoming unit to give the company a leg up in the lucrative spare parts business. At Palakkad, the company intends to produce spares for both metro rail and aerospace

Sourse From: http://www.steelguru.com/news/index/2009/10/07/MTE0OTY0/BEML_bets_big_on_components_biz.html

Slowdown signs - Indian shipping firms negotiating troubled waters

The shipping industry is possibly one of the few sectors where the operating environment has shown signs of worsening over the past few months in broad contrast to a few other sectors where there seems to be signs of green shoots of the economic recovery.

For instance in the tanker segment where nearly two-thirds of fleet capacity of leading players such as Shipping Corporation of India and GE Shipping are focused upon, spot freight rates have weakened on a sequential and year on year basis.

According to officials in shipping companies, In the case of tanker segments like very large crude carriers which are used to transporting crude oil from the Middle East to North American refiners, spot freight rates in the last week of September were at USD 9,330 per day levels compared with the average spot freight rate of USD 67,208 per day in the September 2008 quarter.

Analysts tracking the sector said that in the June 2009 quarter, the average spot freight rate in VLCC segment was USD 11,210 per day. For VLCC vessels, the daily operational cost is at USD 8,000 per day. OPEC in its September report had highlighted the fact that global crude demand in CY09 is expected to contract by 1.56 million barrels per day to 84.05 million bpd.

Besides, according to senior officials in GE Shipping, sluggish demand conditions continue for vessels to transport crude oil from the Middle East to other parts of the world.

In other tanker segments like Suezmax, the spot freight rate is at USD 7,975 per day compared with the average spot freight rate of USD 51,143 per day in the September 2008 quarter. To combat this, GE Shipping in the June 2009 quarter had nearly 55% of its fleet on long term contracts, while SCI has 60% to 65% of its fleet on long term contracts. Also, GE Shipping has been expanding its presence in the offshore segment in a bid to counter the cyclical nature of the shipping industry.

In the dry bulk segment, where the movement of iron ore and coal is key, the Baltic Dry Index in the last week of September was at 2,163 compared with the average of 7,104 in the September 2008 quarter. In the June 2009 quarter, the Baltic Dry Index averaged 2,714. Analysts tracking this sector point to large quantities of iron ore that had been purchased by Chinese steel mills from Brazil and Australian suppliers in the first half of CY09 and until that get run down, demand for vessels in this segment would be sluggish.

(Sourced from http://www.steelguru.com/news/index/2009/10/06/MTE0ODAy/Slowdown_signs_-_Indian_shipping_firms_negotiating_troubled_waters.html)

Rays of recovery - Hyundai September sale crosses 50,000 units

The country's second largest car manufacturer Hyundai Motor India Ltd saw cumulative sales peak at a record 53,804 units in September 2009.

After months of slowdown the domestic market buoyed by the strong festive season sales recorded a high growth rate of 25% after months of fluctuating sales. The overseas sales grew at a modest 9% as the export market slowed down with the scrappage incentive coming to an end in most European markets.

As per report Hyundai Motor's total sales for September 2009 stood at 53,804 units against 46,218 units in September, 2008. The domestic sales accounted for 27,803 units as against 22,311 units in September, 2008 while the overseas sales grew from 23,907 units last September to 26,001 units in September 2009.

Mr Arvind Saxena senior VP marketing and sales of Honda Motors said that "The sales for the month of September were promising as we not only recorded the highest figures in our 11 years of operations but also this year the festive season has been encouraging as customers returned to the showroom. We hope that this will be the turning point for the automotive industry and if sales remain strong during the coming Diwali then we can look at double digit growth figures for the current year".

(Sourced from http://www.steelguru.com/news/index/2009/10/06/MTE0ODAx/Rays_of_recovery_-_Hyundai_September_sale_crosses_50%252C000_units.html)

SCI plans to sell 7 tankers this fiscal

BL reported that Shipping Corporation of India plans to sell seven single hull tankers by the end of this fiscal year to meet the global deadline to phase out single hull tankers by 2010.



Captain KS Nair director Bulk Carrier and Tanker Division of SCI told Business Line that

http://www.steelguru.com/news/index/2009/10/06/MTE0ODAw/SCI_plans_to_sell_7_tankers_this_fiscal.html

Rays of recovery - Honda Siel sales in September up by 87pct

Honda Siel Cars India a leading manufacturer of premium cars in India sold 5,794 units and registered an overwhelming 86.7% in the month of September 2009 as against 3,104 units sold during the corresponding month last year.




Honda Siel in a statement said that the cumulative sales of the

http://www.steelguru.com/news/index/2009/10/06/MTE0Nzk5/Rays_of_recovery_-_Honda_Siel_sales_in_September_up_by_87pct.html

Madhucon JV wins USD 3.9 million order from Nepal

Madhucon Projects Ltd has informed BSE regarding Madhucon JV bags USD 3.9 Million order from Department of Roads government of

http://www.steelguru.com/news/index/2009/10/06/MTE0Nzk4/Madhucon_JV_wins_USD_3.9_million_order_from_Nepal.html

Rays of recovery - TVS Motor posts 11pct growth

It is reported that TVS Motor Company has posted 4% growth in September 2009 registering total two wheeler sales of 142,553 units against 137,246 units in the corresponding period of the previous year. With this, the company has achieved a cumulative sales growth of 5% for the period April to September 2009 and cumulative growth of 10% in domestic sales.

Domestic sales of the company clocked 11% growth registering sales of 132,281 units in September 2009 as against 119,017 units in the corresponding month of the previous year.

Of the total two wheeler sales, scooters accounted for 29,984 units in September 2009 against 27,108 units in September 2008, an increase of 11% over the previous year. Total motorcycle sales of the company stood at 60,718 units in September 2009 when compared to 71,278 units in September 2008.

Exports continued to be affected with sales of 10,272 units of two wheelers in September 2009 as against 16,201 units in the corresponding period of the previous year.

(Sourced from http://www.steelguru.com/news/index/2009/10/05/MTE0NjUw/Rays_of_recovery_-_TVS_Motor_posts_11pct_growth.html)

Slowdown signs - Ashok Leyland sales down by 12pct in September

Hinduja Group's flagship company Ashok Leyland on Saturday reported 11.86% decline in its total commercial vehicles sales in September at 5,452 units against 6,186 units in the same months last year.

Ashok Leyland in a statement said that domestic commercial vehicle sales stood at 4,813 units against 5,454 units in the same month last year down by 11.75%. It added that exports were at 639 units as against 732 units in the same month last year down 12.70%.

(Sourced from http://www.steelguru.com/news/index/2009/10/05/MTE0NjQ5/Slowdown_signs_-_Ashok_Leyland_sales_down_by_12pct_in_September.html

Mr Saraya appoints as director power of BHEL

it is reported that Mr Atul Saraya has assumed charge as Director (Power) of BHEL.

Prior to this he was heading the company’s Power Sector (Marketing) function as well as BHEL’s Power Sector Eastern Region construction division as Executive Director.

Mr Saraya a Graduate in Electrical Engineering from Harcourt Butler Technological Institute, Kanpur and PGDBM in Business Administration.

http://www.steelguru.com/news/index/2009/10/05/MTE0NjQ4/Mr_Saraya_appoints_as_director_power_of_BHEL.html

Rays of recovery - TATA Motors sales in September up by 6pct

TATA Motors total sales of TATA commercial and passenger vehicles registered the growth of 6% to stand at 52,513 vehicles in September 2009 as against 49,647 vehicles sold in September 2008.

The company’s domestic sales of TATA commercial and passenger vehicles for September 2009 were 49,650 numbers a 10% growth over 45,234 nos. sold in September last year.

Cumulative sales for the company for the fiscal at 273,491 nos., recorded a growth of 3% over 265,709 nos. sold last year.

The company’s sales of commercial vehicles in September 2009 in the domestic market were 31,474 numbers a 10% growth compared to 28,648 vehicles sold in September last year. LCV sales were 18,454 numbers a growth of 16% over September last year. M&HCV sales stood at 13,020 nos., a growth of 2% over September last year. This is the third consecutive month of growth for M&HCV.

Cumulative sales of commercial vehicles in the domestic market for the fiscal were 161,700 numbers a growth of 11% over last year. Cumulative LCV sales were 100,278 numbers a growth of 30% over last year, while M&HCV sales stood at 61,422 numbers lower by 11% over last year.

The passenger vehicles business reported a total sale and distribution off take of 20,743 numbers in the domestic market in September 2009, a 23% increase compared to 16,829 numbers in September last year.

(Sourced from http://www.steelguru.com/news/index/2009/10/05/MTE0NjQ3/Rays_of_recovery_-_TATA_Motors_sales_in_September_up_by_6pct.html)

Ashok Leyland Pantnagar plant to go on stream soon

Hinduja Group’s flagship company Ashok Leyland’s INR 1,300 crore Pantnagar in Uttarakhand plant is likely go on stream within the next few months. The plant would have an installed capacity of 50,000 units of commercial vehicles annually. Besides, the company is also planning to increase the capacity at its Alwar plant by 50% this year.

Mr Rajiv Saharia executive director marketing of Ashok Leyland told reporters that “Work on the Pantnagar plant is progressing well and we hope to inaugurate it within a few months. The plant would have an annual installed capacity of 50,000 units.” He however did not specify a time frame for the inauguration of the plant.

Mr Saharia said that “The Pantnagar plant would further boost our capacity at a time when the market is showing signs of revival.” He added that the company is also looking to increase the capacity of its Alwar plant by 50% to 300 ultra low entry buses a month from 200 units at present.

Mr Saharia said that “The capacity expansion at the Alwar plant would be carried out within this fiscal,” Saharia said. Ashok Leyland has a contract with the Delhi Transport Corporation for the delivery of 875 ULE buses this fiscal.

The company has six plants across the country with an annual installed capacity of 100,000 units. Ashok Leyland has a contract with various state and local transport bodies under the Jawaharlal Nehru National Urban Renewal Mission to supply 5,000 buses during this fiscal.

(Sourced from http://www.steelguru.com/news/index/2009/10/05/MTE0NjQ2/Ashok_Leyland_Pantnagar_plant_to_go_on_stream_soon.html)

BHEL planning separate unit for power generation projects

BS reported that India’s largest power equipment manufacturer Bharat Heavy Electricals Ltd is considering floating a separate subsidiary company for power generation projects.

The move, part of its diversification plan is aimed at consolidating the equity investment it had taken earlier in various generation projects of around 8,800 MW capacity in different states.

The company had committed 26% equity participation in multiple supercritical thermal power projects in Tamil Nadu, Karnataka and Maharashtra and is planning similar stakes for projects in Gujarat and MP.

Mr K Ravi Kumar former CMD told Business Standard that “We are doing 11 units of 660-800 Mw, which will give us 8,800 Mw. So, if you get a close to 10,000 Mw power company, it is good. If the projects go well and if the same trend continues, we can hive off a BHEL power subsidiary.” He added that “There has been serious discussion on this matter. These days, small companies are putting up plants. So, why cannot BHEL run it efficiently? This is diversification.”

Mr Kumar said that “Five units in Tamil Nadu and Karnataka are already in advanced stages. We have already obtained land. We have applied for coal blocks. The projects will take approximately four-five years to be completed.”

He also said floating the subsidiary company would require changes to be made in the company’s Articles of Association. BHEL had formed a joint venture company in April last year with power generator NTPC Ltd NTPC BHEL Power Projects Private Ltd to take up engineering, procurement and construction contracts for power equipment.

BHEL has signed two separate Joint Ventures with the Karnataka Power Corporation Ltd and Tamil Nadu Electricity Board and a memorandum of Understanding with the Maharashtra State Power Generation Company Ltd for setting up seven units of 660MW to 800 MW for supercritical thermal power plants on a Build, Own and Operate basis. Another four units of similar sizes are being planned in Gujarat and MP. The projects require an investment of over 52,000 crore and are being financed on 80% debt and 20% equity ratio. While 26% of the equity portion INR 2,745 crore is being financed by BHEL another 26% will come from the state entities. The remaining 48% is being sourced from financial institutions.

(Sourced from www.steelguru.com)

Rays of recovery - Bajaj Auto sales in September up by 14pct

Bajaj Auto’s newly launched 100cc motorcycle Discover DTS-Si has turned around the sales curve of the company with the Pune based two wheeler firm logging its highest monthly sales in over 22 months.



The company, which is also India’s second biggest two wheeler maker stated that

http://www.steelguru.com/news/index/2009/10/05/MTE0NjU0/Rays_of_recovery_-_Bajaj_Auto_sales_in_September_up_by_14pct.html

Andhra Pradesh to invite bids for 4 airports

It is reported that Andhra Pradesh Government plans to invites bids afresh for four regional airports along with an offer of additional incentives to developers.



As per report the fresh round of bids is to be invited for airports at Ramagundam, Kurnool, Tadepalligudem and Nizamabad. Each

http://www.steelguru.com/news/index/2009/10/05/MTE0NjUz/Andhra_Pradesh_to_invite_bids_for_4_airports.html

6 bid for Dadri power project of Reliance Power

Reliance Power’s 8,000 MW gas fired power project at Dadri in Uttar Pradesh has received bids from 6 global and Indian companies for the engineering, procurement and construction contract, even as the project, which is the biggest gas-based plant so far, awaits a Supreme Court decision

Sourse From: www.steelguru.com

Government may allow GAIL to charge marketing margin

In a significant development, the government may allow state gas utility GAIL India to charge marketing margin on sale of APM or subsidized natural gas.



The government currently regulates the price at which the gas produced from fields given to Oil and Natural Gas Corp and Oil India Ltd is

Sourse From: www.steelguru.com