Telco sales up, Leyland's down
New Delhi: Vehicle sales of Telco jumped 17.5 per cent in February, boosted by a sharp pick up in demand for its cars. But sales of Ashok Leyland fell 21.5 per cent.

Sales of Telco, including exports, rose to 18,320 units from 15,597 a year ago, according to the Society of Indian Automobile Manufacturers (SIAM).

Ashok Leyland's sales dropped to 2,735 vehicles from 3,484.

Telco makes heavy and light trucks, buses, cars and utility vehicles.

Its Indica car sales rose 89.7 per cent to 6,968 units while utility vehicle sales were 1.94 per cent lower at 2,826 units.

Ashok Leyland's medium and heavy truck and bus sales fell 20.63 per cent to 2,728 units while it sold only seven light commercial vehicles in the month.
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Electronics, software exports grow 33% in April-Jan.
New Delhi: India's electronics and computer software exports is estimated to have touched Rs 39,362 crore during April to January, reflecting a growth of 32.5 per cent from Rs 29,690 crore notched in the same period of the previous year.

During the first ten months of the current fiscal, the computer software and services segment witnessed a growth of 36.6 per cent to Rs 30,000 crore, up from Rs 21,950 crore in April to January 2001.

According to the Electronics and Computer Software Export Promotion Council, electronics hardware exports touched Rs 4,657 crore during April to January 2002 from Rs 3,735 crore in the corresponding period of the previous year.
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RBI extends export credit rate cut to Sept
Mumbai: The Reserve Bank of India will extend a cut in interest rates on Rupee export credit by six months to 30 September.

The RBI had announced in September 2001 a reduction in the ceiling on interest rates for export credit by one percentage point. The cut was applicable to both pre-shipment and post-shipment credit and was meant to last till 31 March 2002.
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Petition against BPL-Batata merger dismissed
New Delhi: The Supreme Court has dismissed a special leave petition filed by the Mauritius-based CDC Financial Services against the merger of BPL-Birla-Tata-AT&T.

CDC Financial Services and other foreign investors of BPL Communications had sought voting rights on the companys proposed merger with Batata.

Having put in more than $214 million, foreign investors had objected to the manner in which the transaction was envisaged.

Foreign investors hold 39.6 per cent in BPL Communications. While CDC holds 7 per cent in BPL Communications, AIG has 17.5 per cent and Telecom Ventures Group holds 11 per cent. Asian Infrastructure Development Corporation holds a 4.1 per cent stake.
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Industrial growth dips to 3.2 % in Jan
New Delhi: Industrial growth slowed down to 3.2 per cent during January this year as against 4.5 per cent in the year-ago period, mainly due to lower growth in mining, manufacturing, capital goods and consumer goods.

The Central Statistical Organisation pegged the general index at 176.1 during January 2002, which is 3.2 per cent higher than that in January 2001.

The IIP grew by 2.5 per cent to 164.8 in April-January this fiscal, which is also less than 5.7 per cent in the same period last year.

Among the major groups, electricity production was up 3.8 per cent in January from 2.5 per cent a year ago.

Growth of manufacturing sector, however, slowed down to 3.2 per cent during the month as compared to 4.7 per cent in January 2001, while mining activities grew by only 3.4 per cent as against 5.1 per cent in the same month last fiscal.
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Car, bike sales up; CV, scooter, moped down
New Delhi: Car sales recorded an impressive 16.5 per cent increase in the month of February mainly on account of improved sales by Maruti, Hyundai and Tata Engineering.

Total sales stood at 54,229 cars in February 2002 against 46,532 cars in the same month last year, according to the Society of Indian Automobile Manufacturers (SIAM).

Maruti Udyog posted a 4.5 per cent rise in its sales at 30,905 units against 29,562 units in February 2001.

But, Hindustan Motors posted negative growth. Daewoo Motors did not disclose its sales figures.

Cumulative sales of cars during April-February 2001-02 dipped marginally to 5.04 lakh cars from 5.05 lakh cars.

Commercial vehicle sales dipped by 7.9 per cent at 12,372 units over 13,674 units in the year-ago month. The decline is attributed to a 12.9 per cent fall in medium and heavy category and a 3.5 per cent slump in the sales of light commercial vehicles.

Multi-utility-vehicle sales fell by 25.3 per cent at 9,518 units as against 12,750 units in February 2001.

The motorcycle market posted a spectacular 54.4 per cent growth in sales, while overall two-wheeler sales shot up by 27.6 per cent even as scooter sales dwindled by eight per cent.

Moped sales too recorded a decline of 21.2 per cent even as three-wheeler sales went up by 33.4 per cent.
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