Indian Core Industries grew by 6.8% in November

Index of Eight Core Industries (Base: 2004-05=100), November 2011

The summarized Index of Eight Core Industries with 2004-05 base is given at the Annexure. The Index of Eight core industries having a combined weight of 37.90 per cent in the Index of Industrial Production (IIP) stood at 141.1 in November 2011 with a growth rate of 6.8% compared to its growth at 3.7% in November 2010. During April-November 2011-12, the cumulative growth rate of the Core industries was 4.6% as against their growth at 5.6% during the corresponding period in 2010-11. Coal: Coal production (weight: 4.38%) registered a growth of 4.9% in November 2011 compared to its growth at 0.7% in November 2010. Coal production grew by (-) 4.0% during April-November 2011-12 compared to its growth at 0.4% during the same period of 2010-11.  Crude Oil: Crude Oil production (weight: 5.22%) registered a growth of (-)5.6% in November 2011 compared to its growth at 17.0% in November 2010. Crude Oil production registered a growth of 2.9% during April-November 2011-12 compared to its growth at 11.5% during the same period of 2010-11. Natural Gas: Natural Gas production (weight: 1.71%) registered a growth of (-) 10.1% in November 2011 compared to its growth at 5.5% in November 2010. Natural Gas production registered a growth of (-) 8.5% during April-November2011-12 compared to its growth at 19.9% during the same period of 2010-11. Petroleum Refinery Products (0.93% of Crude Throughput)*: Petroleum refinery production (weight: 5.94%) had a growth of 11.2% in November 2011 compared to its growth at (-) 3.5% in November 2010.  Petroleum refinery production registered a growth of 4.5% during April-November 2011-12 compared to its 0.8% growth during the same period of 2010-11. Fertilizers: Fertilizer production (weight: 1.25%) registered a growth of (-) 2.4% in November 2011 against its growth at 0.0% in November 2010.Fertilizer production grew by (-)0.1% during April-November 2011-12 compared to its growth at (-) 1.7% during the same period of 2010-11.  Steel (Alloy + Non-Alloy) : Steel production (weight: 6.68%) had a growth rate of 5.1% in November 2011 against its 7.6% growth in November 2010. Steel production grew at a same rate of 8.2% during April-November 2010-11 and 2011-12. Cement: Cement production (weight: 2.41%) registered a growth of 16.6% in November 2011 against its (-) 4.3% growth in November 2010. Cement Production grew by 4.3% during April-November 2011-12 compared to its growth at 5.3% during the same period of 2010-11. Electricity: Electricity generation (weight: 10.32%) had a 14.1% growth in November 2011 compared to its 3.5% growth in November 2010. Electricity generation grew by 9.3% during April-November 2011-12 as against its 4.6% growth during the same period of 2010-11.

Indian Mine productions falls by 4.86 %

Ministry of Mines25-November, 2011 10:40 IST

Mineral Production during September 2011

The index of mineral production of mining and quarrying sector in September 2011 was lower by 4.86% compared to that of the preceding month. The mineral sector has shown a negative growth of 5.64% during September 2011 as compared to that of the corresponding month of previous year. The total value of mineral production (excluding atomic & minor minerals) in the country during September 2011 was Rs.13658 crore. The contribution of petroleum (crude) was the highest at Rs. 5626 crore (41%). Next in the order of importance were: coal Rs 2800 crore, iron ore Rs.2490 crore, natural gas (utilized) Rs. 1452 crore, lignite Rs. 311 crore and limestone Rs. 267 crore. These six minerals together contributed about 95% of the total value of mineral production in September 2011. Production level of important minerals in September 2011 were: coal 299 lakh tonnes, lignite 26 lakh tonnes, natural gas (utilized) 3879 million cu. m., petroleum (crude) 31 lakh tonnes, bauxite 995 thousand tonnes, chromite 258 thousand tonnes, copper conc. 11 thousand tonnes, gold 172 kg., iron ore 126 lakh tonnes, lead conc. 13 thousand tonnes, manganese ore 196 thousand tonnes, zinc conc. 114 thousand tonnes, apatite & phosphorite 185 thousand tonnes, dolomite 412 thousand tonnes, limestone 188 lakh tonnes, magnesite 18 thousand tonnes and diamond 2061 carat. In September 2011 the output of apatite & phosphorite increased by 28.44%, diamond 19.27%, manganese ore 16.82%, bauxite 8.88%, chromite 8.05%, copper conc. 5.34%, magnesite 5.16 percent. However the production of lignite decreased by 2.61%, natural gas (utilized) 2.85%, dolomite 3.13%, limestone 3.27%, petroleum (crude) 4.00%, coal 8.59%, iron ore 8.77%, gold 8.99%, lead conc. 9.36% and zinc conc. 9.36 percent.

Diesel, Gas, subsidies by Indian Government oil firms on Rise

Fortnightly Under-Recoviries on Petroleum Products and International Prices of Indian Basket of Crude Oil As on 31.10.2011

The Petroleum Planning and Analysis Cell under the Ministry of Petroleum and Natural Gas has reviewed international prices of crude oil and petroleum products during the past fortnight. Accordingly, the impact of the prices prevailing at the end of the fortnight ending on 31/10/11   (from 16/10 to 31/10/2011) is provided in below:                 Average international FOB price   for Indian Basket of Crude Oil and Exchange Rate ; Particulars Unit Price on last trading day i.e., 31,October, 2011 Fortnight Oct 16-31,  2011 (last fortnight) Crude Oil (Indian Basket) ($/bbl) 106.65 108.59 ( Rs  /bbl) 5211.99 5360.00 Exchange Rate ( Rs /$) 48.87 49.36   2.             Product-wise Under-recovery of Public Sector Oil Marketing Companies (OMCs); Product Unit Under-recovery (eff. 01,November, 2011) Diesel Rs/Litre 8.58 PDS Kerosene* Rs /Litre 25.66 Domestic LPG* Rs /Cylinder 260.50 * Additionally, a subsidy of Rs 0.82/Litre on PDS Kerosene and Rs  22.58/Cylinder on Domestic LPG is provided by the Government. (iii) OMCs are currently (effective 1St  November, 2011) incurring daily under-recovery of about  Rs 319  crore  on the sale of Diesel, PDS Kerosene and Domestic LPG. 3.  The OMC’s have reported the following under-recovery during the 1st half  of the current year (April-Sept. 2011) : Product Under Recovery (Rs /Crore) Diesel 37,719 PDS Kerosene 13,361 Domestic LPG 13,820 Total 64,900

Indian Infrastructural Growth stalls : shows Data

Index of Eight Core Industries (Base: 2004-05=100)  September 2011

1.         The summarized Index of Eight Core Industries with 2004-05 base is given at the Annexure. 2.         The Index of Eight core industries having a combined weight of 37.90 per cent in the Index of Industrial Production (IIP) stood at 131.50 in September 2011 with a growth rate of 2.3% compared to its growth at 3.3% in September 2010.  During April-September 2011-12, the cumulative growth rate of the Core industries was 4.9% as against their growth at 5.6% during the corresponding period in 2010-11. Coal 3.         Coal production (weight: 4.38%) registered a growth of (-) 17.8% in September 2011 compared to its growth at (-) 1.8% in September 2010. Coal production grew by (-) 4.8% during April-September 2011-12 compared to its growth at 0.2% during the same period of 2010-11.  Crude Oil 4.         Crude Oil production (weight: 5.22%) registered a growth of 0.1 % in September 2011 compared to its growth at 12.5% in September 2010. Crude Oil production registered a growth of 5.1% during April-September 2011-12 compared to its growth at 10.2% during the same period of 2010-11. Natural Gas 5.         Natural Gas production (weight: 1.71%) registered a growth of (-) 6.4% in September 2011 compared to its growth at 12.6% in September 2010. Natural Gas production registered a growth of (-) 8.5% during April-September 2011-12 compared to its growth at 25.2% during the same period of 2010-11. Petroleum Refinery Products 6.         Petroleum refinery production (weight: 5.94%) had a growth of 4.4% in September 2011 compared to its growth at (-) 10.2% in September 2010.  Petroleum refinery production registered a growth of 4.7% during April-September 2011-12 compared to its 2.6% growth during the same period of 2010-11. Fertilizers 7.         Fertilizer production (weight: 1.25%) registered a growth of (-) 2.1)% in September 2011 against its growth at 0.3% inSeptember 2010.Fertilizer production grew by 0.6% during April-September 2011-12 compared to its growth at  (-) 2.3% during the same period of 2010-11.  Steel (Alloy + Non-Alloy) 8.         Steel production (weight: 6.68%) had a growth rate of 6.6% in September 2011 against its 11.7% growth in September2010. Steel production grew by 9.5% during April-September 2011-12 compared to its growth at 7.4% during the same period of 2010-11. Cement 9.         Cement production (weight: 2.41%) registered a growth of 0.9% in September 2011 against its 5.2% growth inSeptember 2010. Cement Production grew by 2.5% during April-September 2011-12 compared to its growth at 4.7% during the same period of 2010-11. Electricity 10.       Electricity generation (weight: 10.32%) had a 8.9% growth in September 2011 compared to its 2.1% growth inSeptember 2010. Electricity generation grew by 9.3% during April-September 2011-12 as against its 4.1% growth during the same period of 2010-11.

Reliance Industries result : Media Release

Indian Core Industries Index rises by 7.8%

Ministry of Commerce & Industry30-August, 2011 17:48 IST

Index of Eight Core Industries (Base: 2004-05=100) July 2011

The Index of Eight core industries having a combined weight of 37.90 per cent in the Index of Industrial Production (IIP) with base 2004-05 stood at 143.22 in July 2011 and registered a growth of 7.8% compared to 5.7% registered in July 2010.  During April-July 2011-12, eight core industries registered a growth of 5.8% as against 6.5% during the corresponding period of the previous year 2010-11. Coal Coal production (weight of 4.38% in the IIP) registered a growth of 2.4% in July 2011 compared to growth of 4.5% in July 2010. Coal production grew by 0.7% during April-July 2011-12 compared to an increase of 0.6% during the same period of 2010-11.  Crude Oil Crude Oil production (weight of 5.22% in the IIP) registered a growth of 1.4 % in July 2011 compared to a growth of 15.8% in July2010. The Crude Oil production registered a growth of 7.3% during April-July 2011-12 compared to 8.4% during the same period of 2010-11. Natural Gas Natural Gas production (weight of 1.71% in the IIP) registered a growth of (-) 8.2% in July 2011 compared to growth of 20.0% in July2010. The Natural Gas production registered a growth of (-) 9.7% during April-July 2011-12 compared to 32.3% during the same period of 2010-11. Petroleum Refinery Products Petroleum refinery production (weight of 5.94% in the IIP) registered a growth of 3.9% in July 2011 compared to growth of 13.7% inJuly 2010. The Petroleum refinery production registered a growth of 4.9% during April-July 2011-12 compared to 7.3% during the same period of 2010-11. Fertilizers Fertilizer production (weight of 1.25% in the IIP) registered a growth of (-) 1.6% in July 2011 compared to (-) 0.3% in July2010.Fertilizer production grew by 0.4% during April-July 2011-12 compared to an increase of (-) 2.0% during the same period of 2010-11.  Steel (Alloy + Non-Alloy) Steel production (weight of 6.68% in the IIP) registered a growth of 15.5% in July 2011 compared to (-) 2.9% in July 2010. Steel production grew by 10.1% during April-July 2011-12 compared to an increase of 5.5% during the same period of 2010-11. Cement Cement production (weight of 2.41% in the IIP) registered a growth of 10.6% in July 2011 compared to (-) 0.2% in July 2010. Cement Production grew by 1.8% during April-July 2011-12 compared to an increase of 5.3% during the same period of 2010-11. Electricity Electricity generation (weight of 10.32% in the IIP) registered a growth of 13.0% in July 2011 compared to a growth of 4.2% in July2010. Electricity generation grew by 9.4% during April-July 2011-12 compared to 5.3% during the same period of 2010-11.

US Deficit falls, Crude stock depletes, Inventories Flat

US data continue to remain mixed and refuse to rise 


US Cuts the Deficit :


The U.S. government ran a deficit of $129 billion in July, the Treasury Department reported Wednesday, pushing the fiscal year-to-date deficit close to $1.1 trillion. In July, the government spent about $288 billion and took in $159 billion. The latest monthly deficit was $36 billion less than the $165 billion figure reported in July of last year, though it is just $8 billion less when factoring in certain one-time transactions, Treasury said.


Crude Inventories fall :


Crude-oil futures added to gains Wednesday after a government weekly inventories report showed a decrease in oil supplies. Crude for September delivery added $1.93, or 2.5%, to $81.20 a barrel on the New York Mercantile Exchange. Oil had traded around $80.36 immediately before the report. The Energy Information Administration said crude-oil inventories declined 5.2 million barrels in the week ended Aug. 5. Gasoline supplies decreased 1.6 million barrels, and stockpiles of distillates were down 700,000. Analysts polled by Platts expected oil inventories up 1.8 million barrels, gasoline stocks down 1.2 million barrels, and distillate stocks up 1.2 million barrels. The EIA report on crude-oil supplies matched Tuesday's report by the American Petroleum Institute.


Inventory rises modestly : 


Inventories at U.S. wholesalers rose 0.6% in June, compared with a revised 1.7% in May, the Commerce Department said Wednesday. Sales of wholesalers also rose 0.6% in June, while the inventory-to-sales ratio was flat at 1.16.

Indian Vehicle Sales Tumble

In a shocker that reveals how much the recent interest rate hike has bitten into car sales in India—the second fastest growing market for automobiles in the world—data for July this year shows a decline in sales for the first time in over 30 months.

Domestic passenger car sales have registered a 15.76% decline in July this year mainly due to hikes in lending rates and lower production by market leader Maruti Suzuki during the month.

Car sales in the country stood at 1,33,747 units in July, 2011, as against 1,58,767 units in the same month last year, according to figures released by the Society of Indian Automobile Manufacturers (SIAM) today.

"This is the first time since January, 2009, that car sales have fallen. Interest rates and fuel prices were going up in recent months and that led to an overall negative sentiment in the market," SIAM Director General Vishnu Mathur told reporters.

The car market last witnessed a fall in January, 2009, when sales shrunk by 3.16% year-on-year. Last month's decline is the steepest since November, 2008, when car segment sales fell by 19.34%, he added.

The production loss at Maruti's Manesar facility due to preparations for the launch of its new Swift model and realignment of its DZiRE model's output also severely impacted sales, he said.

Earlier this month, Maruti Suzuki India (MSI) said that due to these two planned activities, sales in July were negatively impacted by nearly 17,000 units.

"There is no lack of demand, but just lack of conversion of demand into purchases by customers," Mathur said.

SIAM Senior Director Sugato Sen said non-availability of certain components like castings also impacted the output of many car-makers.

During the month, MSI India posted a 31.04% dip in domestic car sales to 52,483 units.

Rival Hyundai Motor India's sales were down by 11.49% to 25,501 units. Tata Motors saw a decline of 43.13% in sales to 13,997 units during the month.

When asked about the outlook, Mathur said: "Interest rates and fuel prices are challenges for the market. Hopefully, interest rates have reached their peak... If crude continues to soften, then there may be some positive impact as it will lead to inflation coming down."

The forthcoming festive season is also likely to help car-makers push sales, but to what extent it can boost growth has to be looked at, he added.

The auto industry has started slowing down this fiscal, with the passenger car segment growing by only 7% in May. In June, it saw its slowest growth rate in 27 months of 1.62%.

SIAM had last month revised the growth projection downward to 10-12% for 2011-12, as against its earlier forecast of 16-18%.

According to SIAM, two-wheeler sales increased by 12.61% in July, 2011, to 10,56,906 units from 9,38,514 units in July, 2010.

Motorcycle sales grew by 10.51 per cent during the month to 7,85,278 units from 7,10,621 units in the corresponding month last year.

Hero MotoCorp (formerly Hero Honda) continued its impressive performance with a 13.89% increase in sales to 4,43,948 units. Rival Bajaj Auto also posted a 5.30% increase in sales to 2,02,326 units during the month.

However, Honda Motorcycle and Scooter India (HMSI) saw its bike sales falling by 6.52% to 51,920 units. Chennai-based TVS Motor Co saw its motorcycle sales going up by 9.58% to 48,091 units during the month.

The scooter segment witnessed a growth of 23.03% in sales during July this year to 2,05,695 units from 1,67,195 units in the same month last year.

HMSI's scooter sales during the month were up 19.54% to 89,869 units, while that of TVS Motor Co grew by 20.47% to 46,324 units. Hero MotoCorp's scooter sales during the month grew by 36.29% to 33,766 units.

Three-wheeler sales during July, 2011, declined by 3.13% to 43,949 units from 45,369 in the same month last year.

Sales of commercial vehicles jumped by 23.70% to 64,241 units from 51,934 units in the year-ago period.

Light commercial vehicle sales grew by 35.95% to 37,111 units from 27,297 units last year. Medium and heavy commercial vehicle sales stood at 27,130 units as against 24,637 units in July last year, up 10.12%, SIAM said.

Total sales of vehicles across categories registered a growth of 8.99% to 13,48,753 units in July, compared to 12,37,521 units in the same month last year, it added.