1. Inflation control measures: Steel companies are feeling “forced” to bring down the prices without controlling the raw material costs. Steel prices have gone up by almost 40% in the last one year. Typically, the rise in the input cost to produce a tonne of steel has gone up by Rs.14,629 while the rise in steel prices is Rs.11,000/tonne. The costs of the raw materials continue to rise.
2. Domestic drug companies may face tighter norms: Pharma multi-nationals are pushing the government to introduce guidelines to link drug registration for marketing approval to the patent system in the country.
3. The US subprime problem is causing worldwide collapse of realty prices ans assuming a global chain reaction.
4. The Kingfisher-Deccan combine has drastically cut its ambitious plan for international operations for August this year. However, it is going to cover almost all parts of the world that Indian carriers currently fly.
5. The markets were closed yesterday. Today by 11.30 am, the stock prices were recovering. Reliance and IT stocks were up. Announcements of the Q4 results of IT majors are commencing today.
6. RIL, the India’s largest private firm, is in talks with global energy majors for a possible stake sale in its Krishna-Godavari basin deepsea gas field.
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