News on the roll

US ecomomy could contract in H1 FY 08: Fed by business standard
The us economy could contract in the first half of the year and could then pick up significantly due to aggressive interest rate cuts which would stimulate growth and housing market woes recedes. It now seems that the real GDP might not grow and could contract during the first half of the FY 08 fed chairman Ben Bernanke said

Steel industry suggests three measues to cut inflation
The steel industry has put forth suggestions to prices. Mr Sajjan jindal VC and MD JSW steel said that the industry has given suggestions to cut prices.
An excise duty cut from 14 per cent to six per cent could bring down the steel prices by eight per cent, a 25 per cent export duty on iron ore would impact the prices by five per cent and the withdrawal of import duty on input materials such as coke, limestone, ferro alloys, aluminium and copper would drag the prices by two per cent

Abhishek industries
Abhishek Industries Ltd has informed BSE that the Company has commissioned 20 MW Captive Power Plant with effect from March 29, 2008. This new commissioned Captive Power Plant shall meet the power requirement of the Paper Business of the Company. Consequent to commissioning of this plant, the total captive power capacity of the Company has become 50 MW

Welspun gujarat announces commencement of world class plate plant Bse announcements
Welspun Gujarat Stahl Rohren Ltd takes pride in announcing the commencement of its 1.5 million tonne state-of-the-art Plate mill - one of the only three mills of its kind in the World as of March 28, 2008. Part of the backward integration project of Welspun, the mill has the capacity to produce plates up to 4.5 meters wide and is a set to make a mark in the Company's operational capabilities. It may be noted that the trial production of the mill was commenced in September 07 and since then Welspun has been able to make the most challenging plates involving sizes up to 4.5 meter wide and steel grade of X 70 API Grade.Speaking on the commercial commencement, Mr. B K Goenka, VC and MD of Welspun Group said, "I along with my colleagues take pride in this historic moment of commencement of this one-of-its-kind plate mill in India. We believe that this mill will not on prove the "Engineering Excellence" that Welspun portrays, but also strengthen its position globally", he adds.The availability of in-house Plates will provide more flexibility in marketing the products besides assuring quality and delivery on time to the valued customers. It will additionally improve Welspun's internal flexibility to book short gestation orders besides adding to the Company's turnover and profitability.
The state-of-art equipments used in the mill are largely European and have the ability to achieve most stringent quality specifications and size requirements as mentioned below:
Width: 1500 MM -4500 MM
Thickness: 10 MM -45 MM (API Grades)
Length: Upto 18 Mtrs
Grade: X70 & aboveCapacity: 1,500,000 MTPA