Financial Daily from THE HINDU group of publications
Wednesday, Jul 14, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - Announcements
Industry & Economy - Climate & Weather


Grasim to cut output on monsoon delay

Dinesh Narayanan

Mumbai , July 13

ALARM bells have begun tinkling if not ringing as rains stay away from a large tract of central India for the second week into what should have been a drenched July.

Grasim Industries on Tuesday informed the stock exchanges that delay in the arrival of monsoon is cutting the production of staple fibre at its plant in Nagda in Madhya Pradesh by 80 tonnes.

Even though water scarcity in central India will not affect industrial production because much of it takes place in coastal Maharashtra, Gujarat and Tamil Nadu, a drought in the region could seriously impair rural demand in the latter part of the year.

Mr Mahesh Vyas, Executive Director of the Centre for Monitoring Indian Economy, said, "The situation is not yet grave but we need to be on guard."

Mr Vyas said monsoon has indeed played truant and sowing has been delayed in the central region comprising North Maharashtra, North Karnataka, Madhya Pradesh and Rajasthan. "If it does not rain this week and the next, the situation could turn grave," he said.

More Stories on : Announcements | Climate & Weather

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Skoda plans to set up R&D units


Cummins India signs pact with Purdue University
Grasim to cut output on monsoon delay
EmmayHR sets sights on staffing business
Praj Ind firming up plans to expand overseas operations
BHEL bags Rs 6-cr Italian order
GTL board to meet on July 27
As deadline for Sarbanes-Oxley compliance nears — MNC arms rush to Indian accounting firms
Amul setting up Rs 58-cr powder plant in Gujarat
Italian casual wear company to set up shop in India
German genomics major MWG sets shop in Bangalore
Cargill in pact with Parakh Foods to expand edible oil business
`Steel prices unlikely to shoot up immediately'
Himatsingka plans foray into bed linen
SAIL posts all-time high Q1 production
Harish Krishnamachar quits TVS
Corporates opt for floaters to raise funds
Indal's Kerala unit on the verge of closure



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line