Apr 09

Tata Steel says India sales up 3.3 pct in Q4

The Tata Steel logo is displayed in London following the announcement that the Indian company would purchase Anglo-Dutch steel company CorusMUMBAI (Reuters) – Tata Steel , the world’s seventh-largest steelmaker, said on Monday sales from its Indian operations rose 3.3 percent to 1.77 million tonnes in the January to March quarter. The Indian operations account for about a quarter of the group’s total annual global capacity of about 28 million tonnes, which includes unit Corus, Europe’s second-largest steelmaker. The company’s crude steel production in India rose 2.6 percent in the quarter to 1.82 million tonnes, it said in a statement. Sales from the Indian operations rose 3.4 percent for the full fiscal year ending March to 6. …



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Apr 09

Gold traders in India re-enter market with stray deals

Gold jewellery is on display at a jewellery showroom in KolkataMUMBAI (Reuters) – Gold traders in India, the world’s largest consumer of the yellow metal, booked stray deals after a three-week long strike, seeking to replenish stocks for a gold buying festival slated later in the month, dealers said. * “Few orders are there on the lower side… market is slowly gearing up ahead of Akshaya Tritiya,” said a dealer with a private bullion importing bank in Mumbai. * Jewellers in India ended their three-week strike on Saturday after assurance the federal government would consider scrapping a budget proposal to levy excise duty on unbranded jewellery. …



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Apr 09

‘Singh’s visit to Pak conditional on latter making progress in combating terrorism’

New Delhi, Apr 9(ANI): Prime Minister Manmohan Singh has accepted an invitation to visit Pakistan on the condition that Pakistan has to show concrete progress in eliminating terrorism, a former Indian diplomat has said.
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