Godrej Industries sells its ‘Pesticide Biz’ to Denmark-based firm

Godrej IndustriesThe Godrej group has exited the pest control service business by selling its entire shareholding in Godrej HiCare to ISS a leading Denmark-based facility services company at a consideration of around Rs 100 crore.

Godrej group flagship, Godrej Industries, had a controlling stake of about 80% in Godrej HiCare, while the balance 20% being held by individuals like A Mahendran, director, Godrej HiCare.

Mushroom farming becoming popular in Himachal

Mushroom farming becoming popular in HimachalSolan (Himachal Pradesh), Apr 22: Mushroom farming is getting popular in Himachal Pradesh as many farmers are switching over to it.

The educated youth in Solan district of the state are also adopting mushroom farming as it is adding to their financial strength.

According to farmers, they are earning a good amount of money from mushroom farming which is a low cost affair and is thus profitable.

NCDEX and MCX impose additional margins on potato futures

NCDEX and MCX impose additional margins on potato futures In its endeavor to overcome volatility in potato futures trade, National Commodity and Derivatives Exchange (NCDEX) and Multi Commodity Exchange (MCX) of India have imposed a 10 percent additional margin on sale positions and 15 percent margin on buy positions.

While the MCX margin order takes effect from April 18; an unnamed official said that the NCDEX margins "will be effective from April 21."

SBI extends loans offer for farmers till September 30

State Bank of IndiaThe country's largest lender, State Bank of India (SBI) has decided to extend the period of its concessional financing to the farmers against warehouse receipts by five months to September 30, 2009.

It should be noted that the state-run lender in February this year had started offering loans at a concessional rate of 8% to farmers against cold storage and warehouse receipts, in a bid to save them from falling prey to distress sale of their farm produce.

Earlier this week, the lender has extended its special home and car loans scheme last week at 8 per cent and 10 per cent respectively, for the first one year, till September

RCF inks pact with Future Products to setup Joint Venture Company

RCF inks Rashtriya Chemicals and Fertilizers Limited (RCF) has informed that the company has undertaken a project to manufacture Wall panels, putty and other related products by using Gypsum.

The company officials said in a communiqué that the project is in final stage of completion and the plant is likely to start production by end of April, 2009.

In addition, the company to market these products has signed an agreement with Future Products Pvt. Ltd, to set up a Private Limited., Company (JVC).

Facing space crunch to store food grain, Punjab sends SOS to Centre

Punjab is reeling from an unusual crisis. The state doesn't have enough space to store the bumper food grain crop it reaps every year.

In the last couple of years, stocks have piled up and there is no space to preserve wheat, for which procurement will commence in the first week of April.

The state proposes to procure 125 lakh tonnes of wheat this season and has sent an SOS to the Centre that unless adequate space is made available, the exercise could be jeopardised.