Global Economic and Political News and It's Impact:-
Indian Economic and Political News and It's Impact:-
The infrastructure sector, which comprises coal, crude oil, oil refining, natural gas, steel, cement, electricity and fertilisers, accounts for 37.9 per cent of India's industrial output.
The eight core sector industries -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- had expanded by 4 per cent in December 2014.
The growth was 6.7 per cent in November last year.
The core sector contributes 38 per cent to the overall industrial production, a parameter that RBI takes into account while framing its monetary policy.
Production of crude oil declined by 1.4 per cent, natural gas by 3.5 per cent, fertiliser by 1.6 per cent and of steel by 2.4 per cent in December 2014.
However, coal production grew by 7.5 per cent, refinery products by 6.1 per cent and cement output by 3.8 per in the month under review.
The growth in electricity generation declined to 3.7 per cent in December last year from 7.6 per cent in December 2013.
During April-December, the eight sectors grew by 4.4 per cent as against 4.1 per cent in the same period last year.
Growth in India's factory activity slipped in January from December's two-year high as new orders rose at a weaker rate despite factories keeping price increases to a minimum, a business survey showed on Monday.
Cooling growth and inflation could give the Reserve Bank of India reason to cut interest rates again in the coming months but any move may depend on the government's annual budget due on Feb. 28.
The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit, fell to a three-month low of 52.9 in January from December's two-year high of 54.5.
It has been above the 50 level, which denotes growth, since November 2013 but missed poll expectations for a smaller drop in January, to 53.5.
"Sluggish growth and falling inflation further reinforces our view that the RBI should deliver upfront rate cuts," said Pranjul Bhandari, chief India economist at HSBC.
Commodity prices have tumbled in recent months, Brent crude particularly, and the RBI made a surprise 25 basis point cut to its repo rate in January, putting it at 7.75 per cent.
The central bank, expected to leave policy on hold at its meeting on Tuesday, has hinted there will be more easing in coming months. Bhandari expects the repo rate to sit at 7.0 percent by the end of June.
A sub-index covering new orders fell to 54.4 from 57.9 in December on weaker international demand. One of India's main export destinations, the euro zone, is struggling to revive its economy and battling disinflation.
New Deals and It's Impact:-
Noida-based Indosolar Ltd, a manufacturer of solar photovoltaic cells, has entered into a wafer purchase agreement with Korea's Osung LST Co for Rs 1250 crore till 2018. The wafer supply contract, signed on 28 January 2015 as part of the $ 200 million agreement, covers a significant portion of Indosolar's solar photovoltaic cell demand for FY 2015-16 of 48 million wafers at approximately $ 45 million (Rs 260 crore).
B K Gupta, chairman of Indosolar, said, “I am delighted to partner with Osung Korea for the supply of efficient wafers, Indosolar's core raw material. This landmark contract strengthens our enduring relationship and we look forward to expanding our strategic cooperation and delivering super high efficiency photovoltaic cells to the Indian and international markets."
Indosolar Limited’s current manufacturing capacity is 450 MWp with an average efficiency rating of 17.40%, peaking at 18.00%. Located in Greater Noida, Uttar Pradesh, Indosolar’s facility accommodates up to four production lines.
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Indian Economic and Political News and It's Impact:-
ndia's
annual infrastructure output growth slowed to a three-month low of 2.4
per cent in December, mainly dragged down by a sharp slowdown in
electricity, coal and cement production, government data showed on
Monday (2 February). The output had expanded 6.7 percent year-on-year in
November.
The infrastructure sector, which comprises coal, crude oil, oil refining, natural gas, steel, cement, electricity and fertilisers, accounts for 37.9 per cent of India's industrial output.
The eight core sector industries -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- had expanded by 4 per cent in December 2014.
The growth was 6.7 per cent in November last year.
The core sector contributes 38 per cent to the overall industrial production, a parameter that RBI takes into account while framing its monetary policy.
Production of crude oil declined by 1.4 per cent, natural gas by 3.5 per cent, fertiliser by 1.6 per cent and of steel by 2.4 per cent in December 2014.
However, coal production grew by 7.5 per cent, refinery products by 6.1 per cent and cement output by 3.8 per in the month under review.
The growth in electricity generation declined to 3.7 per cent in December last year from 7.6 per cent in December 2013.
During April-December, the eight sectors grew by 4.4 per cent as against 4.1 per cent in the same period last year.
Growth in India's factory activity slipped in January from December's two-year high as new orders rose at a weaker rate despite factories keeping price increases to a minimum, a business survey showed on Monday.
Cooling growth and inflation could give the Reserve Bank of India reason to cut interest rates again in the coming months but any move may depend on the government's annual budget due on Feb. 28.
The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit, fell to a three-month low of 52.9 in January from December's two-year high of 54.5.
It has been above the 50 level, which denotes growth, since November 2013 but missed poll expectations for a smaller drop in January, to 53.5.
"Sluggish growth and falling inflation further reinforces our view that the RBI should deliver upfront rate cuts," said Pranjul Bhandari, chief India economist at HSBC.
Commodity prices have tumbled in recent months, Brent crude particularly, and the RBI made a surprise 25 basis point cut to its repo rate in January, putting it at 7.75 per cent.
The central bank, expected to leave policy on hold at its meeting on Tuesday, has hinted there will be more easing in coming months. Bhandari expects the repo rate to sit at 7.0 percent by the end of June.
A sub-index covering new orders fell to 54.4 from 57.9 in December on weaker international demand. One of India's main export destinations, the euro zone, is struggling to revive its economy and battling disinflation. - See more at: http://businessworld.in/news/economy/india/core-sector-growth-slows-to-3-month-low-of-2-4-in-dec/1723989/page-1.html#sthash.sV3rvBys.87ilSeUs.dpuf
India's annual infrastructure output growth slowed to a three-month low of 2.4 per cent in December, mainly dragged down by a sharp slowdown in electricity, coal and cement production, government data showed on Monday (2 February). The output had expanded 6.7 percent year-on-year in November.The infrastructure sector, which comprises coal, crude oil, oil refining, natural gas, steel, cement, electricity and fertilisers, accounts for 37.9 per cent of India's industrial output.
The eight core sector industries -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- had expanded by 4 per cent in December 2014.
The growth was 6.7 per cent in November last year.
The core sector contributes 38 per cent to the overall industrial production, a parameter that RBI takes into account while framing its monetary policy.
Production of crude oil declined by 1.4 per cent, natural gas by 3.5 per cent, fertiliser by 1.6 per cent and of steel by 2.4 per cent in December 2014.
However, coal production grew by 7.5 per cent, refinery products by 6.1 per cent and cement output by 3.8 per in the month under review.
The growth in electricity generation declined to 3.7 per cent in December last year from 7.6 per cent in December 2013.
During April-December, the eight sectors grew by 4.4 per cent as against 4.1 per cent in the same period last year.
Growth in India's factory activity slipped in January from December's two-year high as new orders rose at a weaker rate despite factories keeping price increases to a minimum, a business survey showed on Monday.
Cooling growth and inflation could give the Reserve Bank of India reason to cut interest rates again in the coming months but any move may depend on the government's annual budget due on Feb. 28.
The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit, fell to a three-month low of 52.9 in January from December's two-year high of 54.5.
It has been above the 50 level, which denotes growth, since November 2013 but missed poll expectations for a smaller drop in January, to 53.5.
"Sluggish growth and falling inflation further reinforces our view that the RBI should deliver upfront rate cuts," said Pranjul Bhandari, chief India economist at HSBC.
Commodity prices have tumbled in recent months, Brent crude particularly, and the RBI made a surprise 25 basis point cut to its repo rate in January, putting it at 7.75 per cent.
The central bank, expected to leave policy on hold at its meeting on Tuesday, has hinted there will be more easing in coming months. Bhandari expects the repo rate to sit at 7.0 percent by the end of June.
A sub-index covering new orders fell to 54.4 from 57.9 in December on weaker international demand. One of India's main export destinations, the euro zone, is struggling to revive its economy and battling disinflation. - See more at: http://businessworld.in/news/economy/india/core-sector-growth-slows-to-3-month-low-of-2-4-in-dec/1723989/page-1.html#sthash.sV3rvBys.87ilSeUs.dpuf
The infrastructure sector, which comprises coal, crude oil, oil refining, natural gas, steel, cement, electricity and fertilisers, accounts for 37.9 per cent of India's industrial output.
The eight core sector industries -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- had expanded by 4 per cent in December 2014.
The growth was 6.7 per cent in November last year.
The core sector contributes 38 per cent to the overall industrial production, a parameter that RBI takes into account while framing its monetary policy.
Production of crude oil declined by 1.4 per cent, natural gas by 3.5 per cent, fertiliser by 1.6 per cent and of steel by 2.4 per cent in December 2014.
However, coal production grew by 7.5 per cent, refinery products by 6.1 per cent and cement output by 3.8 per in the month under review.
The growth in electricity generation declined to 3.7 per cent in December last year from 7.6 per cent in December 2013.
During April-December, the eight sectors grew by 4.4 per cent as against 4.1 per cent in the same period last year.
Growth in India's factory activity slipped in January from December's two-year high as new orders rose at a weaker rate despite factories keeping price increases to a minimum, a business survey showed on Monday.
Cooling growth and inflation could give the Reserve Bank of India reason to cut interest rates again in the coming months but any move may depend on the government's annual budget due on Feb. 28.
The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit, fell to a three-month low of 52.9 in January from December's two-year high of 54.5.
It has been above the 50 level, which denotes growth, since November 2013 but missed poll expectations for a smaller drop in January, to 53.5.
"Sluggish growth and falling inflation further reinforces our view that the RBI should deliver upfront rate cuts," said Pranjul Bhandari, chief India economist at HSBC.
Commodity prices have tumbled in recent months, Brent crude particularly, and the RBI made a surprise 25 basis point cut to its repo rate in January, putting it at 7.75 per cent.
The central bank, expected to leave policy on hold at its meeting on Tuesday, has hinted there will be more easing in coming months. Bhandari expects the repo rate to sit at 7.0 percent by the end of June.
A sub-index covering new orders fell to 54.4 from 57.9 in December on weaker international demand. One of India's main export destinations, the euro zone, is struggling to revive its economy and battling disinflation.
New Deals and It's Impact:-
Noida-based Indosolar Ltd, a manufacturer of solar photovoltaic cells, has entered into a wafer purchase agreement with Korea's Osung LST Co for Rs 1250 crore till 2018. The wafer supply contract, signed on 28 January 2015 as part of the $ 200 million agreement, covers a significant portion of Indosolar's solar photovoltaic cell demand for FY 2015-16 of 48 million wafers at approximately $ 45 million (Rs 260 crore).
B K Gupta, chairman of Indosolar, said, “I am delighted to partner with Osung Korea for the supply of efficient wafers, Indosolar's core raw material. This landmark contract strengthens our enduring relationship and we look forward to expanding our strategic cooperation and delivering super high efficiency photovoltaic cells to the Indian and international markets."
Indosolar Limited’s current manufacturing capacity is 450 MWp with an average efficiency rating of 17.40%, peaking at 18.00%. Located in Greater Noida, Uttar Pradesh, Indosolar’s facility accommodates up to four production lines.
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