Hot rolled steel products may see price hike
New Delhi: Following the firming up of steel prices in the international market, domestic steel producers are planning to hike the prices of hot rolled coil and galvanised steel by Rs 500 per tonne to Rs 15,200 per ton and Rs. 28,000 per ton respectively, with effect from next month. Global steel prices were firming up due to curtailment of production and shutdowns globally. The total reduction in steel production internationally amounted to 8 per cent. The reduction was higher in the US with slashing of 11 per cent of production.

The industry has shown a growth of eight per cent in domestic sales to 2.4 million tonne for the period June-September this year from 2.22 million tonne for the same period last year.

The Essar group has registered the maximum exports of 2.2 lakh tonne, followed by Sail with exports of 1.5 lakh tonne, Tisco at 1.08 lakh tonne, Jindal at 65,000 tonne, Ispat at 50,000 tonne and Lloyds with exports of 25,000 tonne.
Back to News Review index page  

Notification for ISI mark may spell death for small units
New Delhi: In its bid to bring some regulation, the ministry of health and family welfare issued a notification which is likely to set in motion a process of consolidation in the bottled drinking water industry.

The ministry has now made it mandatory for all companies producing bottled water to put the ISI mark on the label. The deadline for getting this quality mark is March 29, 2001. Further, the notification also prevents the companies from promoting or making any claims on the water’s medicinal benefits.

None of the 300-odd producers of bottled water in the country, including the bigger players like Ramesh Chauhan of Bisleri, Coca Cola India (Kinley) and Pepsi (Aquafina) have recieved the ISI certification from the Bureau of Industrial Standards. The notification is bound to deal a death blow to small producers.

The notification defines ‘packaged mineral water’ as water derived from any source of potable water which is subjected to treatment such as filteration, activated carbon filteration, demineralisation, remineralisation and reverse osmosis.
Back to News Review index page  

Citigroup gets Rubin to lead high power team to India
Mumbai: Former US treasury secretary and current chairman of the executive committee of Citigroup, Mr. Robert E Rubin, is leading a high-power team to India next month to explore the possibilities of expanding Citi’s operations here.

Mr. Rubin will also formally launch of the group’s investment banking operations in India. The bank’s investment banking arm, Salomon Smith Barney, is floating the new outfit with an Indian partner for this purpose. The Foreign Investment Promotion Board has already cleared the proposal.

The bank is looking forward to working more closely with the private sector in these countries, in light of the improved Indo-US relations post the visit of the Prime Minister to the US.
Back to News Review index page