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Monday, November 05, 2012

MCX Jul-Sept Net Profit Dips 9% To Rs 81 cr
Commodity bourse MCX has posted a nine per cent decline in standalone net profit to Rs 81.40 crore for the second quarter ended September 30. The company had posted a net profit of Rs 89.41 crore in the same period last year, the exchange said in a statement. Income from operations fell to Rs 136.42 crore in the July-September quarter of the current fiscal from Rs 161.29 crore in the year-ago period.

In a board meeting, MCX declared an interim dividend of Rs 12 per share.

MCX holds a market share of over 75 per cent of the Indian commodity futures market. It offers futures trading in both agriculture and non-agriculture items.

India International Tea Convention To Be Held In Goa
The India International Tea Convention 2012 will be held in Goa. The Consultative Committee of Plantation Association said the three-day international tea convention will be held between November 7 and 9.

“For this year we are planning to have it in a holiday destination preferred by international delegates,” an ITA office bearer said. The meet is expected to cover various aspects of the tea industry including promotion that earns Rs 3000 crore in foreign exchange. IITA is expected to have a large attendance of 350 delegates including 100 from abroad.

TUV Rheinland Opens Testing Lab At Gurgaon
Technical service provider TÜV Rheinland has announced the opening of a 1500 square metre softlines testing laboratory at Gurgaon at an investment of Euro 1.9 million. Another 1.5 million Euros (Rs 10.36 crore) are being invested in two additional softlines laboratories in Bangalore and Tirupur, which are slated for inauguration within the next few months, the German firm said in a statement.

TÜV Rheinland CEO Dr. Manfred Bayerlein said: “The huge Indian market for product testing is also a very important market for TÜV Rheinland. This is why we have invested in four laboratories in this region alone, with a laboratory in Bangladesh operational since last year and three new ones this year in India”.
“The softlines laboratory network of TÜV Rheinland now comprises testing facilities in nine countries, offering customers the benefit of one-stop testing for global markets”, the statement said.

US Factory Orders Go Up In September
New orders for US manufactured goods rose 4.8% in September, evidence that the US manufacturing sector was gaining momentum, the US Department of Commerce reported.

US factory orders increased to a seasonally adjusted $475.4 billion, following a revised 5.1% decrease in August, reported Xinhua. New orders for durable goods, big-ticket items which are expected to last at least three years such as computers, cars and machinery, rose 9.8% to $218.2 billion in September, the largest increase in nearly three years.

New orders for non-durable goods, including food, paper products, petroleum and coal products, rose 1.0% to $257.2 billion for the month.

Manufacturing sector has been a bright spot in the US economic recovery. A separate report released Thursday showed that after three months of slight contraction, US manufacturing expanded for the second consecutive month in October.

Business desk with inputs from agencies.

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