Steel producers have agreed to cut prices by Rs 2,000 a tonne on long products like TMT bars used in construction while most producers have agreed to roll back prices of roofing materials like galvanised corrugated sheets by Rs 500 to Rs 1,000 a tonne. The price cut followed a meeting of steel producers with government official on Thursday, 3 April 2008. The industrys assurance comes within a week after the inflation rate touched a 14-month high of 6.68% in the year through 15 March 2008.

Aditya Birla Group's cement shipments rose 2.8% to 3.03 million tonnes in March 2008 over March 2007. Cement production rose 4.9% to 3.03 million tonnes in March 2008 over March 2007. Shipments for rose 4.5% to 30.55 million tonnes 2007/08 over 2006/07, while production was up 4.8% at 30.6 million tonnes. The group includes flagship Grasim Industries and UltraTech Cement.

Cummins Indias profit growth will be slower as compared to revenue growth in 2008/09 due to rising commodity prices, Chairman and Managing Director Anant Talaulicar, said on Thursday. Cummins, which earns 30% of its revenue from exports, does not see any impact due to slowdown in the US markets, helped by increased sourcing by its parent company.

Indian Oil Corporation (IOC) on Thursday said its crude processing rose 7.7% to 9,48,000 barrels per day in the year ended March 2008 over the year ended March 2007.

Ispat Industries managing director, Vinod Mittal, said on Thursday, 3 April 2008, the company was considering raising prices of hot-rolled coils by Rs 5,000 a tonne by next month because of rising costs.

Tata Communications has reportedly denied rumours it was holdings talks with Singapore state investor Temasek Holdings or private equity firms to sell a stake in its retail and broadband unit.

NMDC has set 21 April, 2008 as the record date for a 10-for-1 stock split.

Ahluwalia Contracts said on Thursday it had bagged new contracts worth Rs 354 crore.

Citigroup Global Market sold 7,96,694 shares, or 2.8% stake, at Rs 90 each in Premier, data on the BSE showed on Thursday.

Colgate Palmolive India has acquired 75% shareholding in CC Health Care Products which is engaged in the manufacture of toothpowder. CC Health Care Products based in Hyderabad, has been manufacturing and supplying toothpowder to Colgate for the last several years.

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