JSW, Essar expected to increase prices too, as coking coal prices continue to climb on reduced supplies
State-owned Steel Authority of India (SAIL) has increased the prices of long and flat products by Rs1,000 to Rs3,000 a tonne, effective 1st February, a SAIL dealer in the Western region told Moneylife today.
"We have got intimation from the company (SAIL) that prices of both long and flat products have been hiked between Rs1,000 and 3,000, effective from the first of this month," the dealer said.
Long products, such as bars and rods, are used in the construction sector, while flat products are consumed by automotive and consumer durables businesses.
Last month SAIL increased the prices of long products by about Rs2,000 a tonne and that of flat products by around Rs1,500 a tonne. Other Indian steel majors also increased prices between 4% and 5% on account of rising prices of inputs like coking coal and iron ore.
Rising prices of coking coal is continuing to put pressure on steelmakers to increase prices of their products to maintain margins. Coking coal prices have surged in the international market since supplies have been disrupted due to floods in Queensland, Australia, which is one of the largest suppliers of the commodity.
India imports about 70% of its coking coal requirements, and nearly 85% of that is from Australia. Coking coal prices in the spot market have climbed to a high of $300 per tonne, compared to $210 per tonne in December.
JSW Steel and Essar Steel are expected to follow in SAIL's footsteps.
Opto Circuits’s Cardiac Science automated external defibrillators will protect Tyco facilities worldwide
The wholly-owned subsidiary of Opto Circuits (India) Ltd, Cardiac Science Corporation, a global leader in automated external defibrillator (AED) and diagnostic cardiac monitoring devices, has been awarded a contract to deploy Powerheart AEDs in all Tyco Flow Control facilities globally. Tyco Flow Control is a $3.4B division of Tyco International. The first phase of the rollout, planned for the first quarter of 2011, will equip Tyco's Australian, Pacific, and North and South American facilities.
"We wanted a fully automatic defibrillator that did not require the user to push a button for shock delivery and an AED that customises the energy level for each patient," said Ralf Schnörringer, director of Environmental Health and Safety for Tyco Flow Control. "Cardiac Science's ability to deliver a globally standardised product and AED program management throughout the world made them our first choice for the 'Save a Life' initiative at Tyco Flow Control."
On Wednesday, Opto Circuits India ended 0.56% down at Rs240 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.38% to 18,090.62 points.
L&T Infotech signs agreement with InnerWorkings to distribute InnerWorkings Developer
L&T Infotech said that it has signed an agreement with InnerWorkings to distribute InnerWorkings' flagship product (InnerWorkings Developer) to Enterprise Developers through the L&T Infotech Developer & Platform Excellence program. No financial details were provided.
InnerWorkings will offer its catalog of.NET Framework coding challenges and performance support services to help L&T Infotech enhance skills of enterprise developers. InnerWorkings Developer is scalable for geographically dispersed development teams, yet allows individual developers to receive in-depth feedback, code samples and support.
L&T Infotech developers will have access to InnerWorkings' growing catalog of drills on key technologies such as ASP.NET, .NET Framework 3.5x, ASP.NET AJAX Extensions & AJAX Library, Visual Studio Team System, Silverlight, WPF, WCF and .NET Framework 4.0.
L&T Infotech can now offer an innovative way to learn new .NET Framework skills while working in Visual Studio. With InnerWorkings, developers will enjoy rigorous coding challenges, an opportunity to practice real coding skills, expert personal tutor support, and an extensive library of proven coding samples.