Kottayam, June 1
Spot rubber finished almost steady on Tuesday. Though the reports from the other markets were not favourable, the prices sustained at current levels as there were no sellers in major grades. Sheet rubber closed flat at Rs 169 a kg amidst scattered transactions. The trend was mixed.
RSS 4 weakened at its June futures to Rs 165.58 (166.26), July to Rs 162.65 (165.49), August to Rs 156.99 (158.52) and September to Rs 153.41 (155.59) a kg on National Multi Commodity Exchange. The June futures for RSS 3 closed at ¥379.9 (¥380.2), July at ¥364.7 (¥360.7), August at ¥340.2 (¥333.2), September at ¥310.8 (¥303.1), October at ¥285.6 (¥287.2) and November at ¥282.2 (285.1) a kg during the day session on Tokyo Commodity Exchange. The June futures declined to ¥372.5, July to ¥357, August to ¥333, September to ¥304, October to ¥278.7 and November to ¥275 a kg during the night session.
RSS 3 (spot) weakened to Rs 180.85 (181.05) a kg at Bangkok. The physical rubber rates in Rs/kg were: RSS-4:169 (169); RSS-5:167 (167); Ungraded:165 (166); ISNR 20: 152 (152) and Latex 60 per cent:111 (111).
Growers urged to produce quality sheet rubber
Kottayam, June 1
If the tyre sector insisted on quality rubber only for their use, then the RSS grade and lot rubber produced by the rubber growers could not get reasonable price and no body would be prepared to purchase these grades, said Mr Sajen Peter, Chairman, Rubber Board.
He said this while inaugurating the State level intensive mass contact campaign at Kottayam to create awareness among the growers about the need for improving the quality of sheet rubber.
In due course the other manufacturing sectors also would require only high quality rubber.
Therefore, the growers should be aware of the emerging changes in consumption pattern of rubber and make sincere efforts to enhance its quality, Mr Sajen Peter exhorted the growers who attended the inauguration..
About 4,000 group meetings would be organised in the rubber belts of Kerala, Karnataka and Tamil Nadu. Rubber Board intends to interact directly with one lakh growers during the period from June 1 to July 16, 2010 as part of the campaign.
Auto companies continue to remain on fast-track
Maruti sets record, selling lakh plus cars.
Our Bureau
Mumbai, June 1
The spectacular show by Indian car companies continues with Maruti Suzuki selling more than a lakh cars in May.
This is for the first time a car company clocked six-digit unit sales a month - with market leader Maruti rewriting its own record of 96,650 units in February.
Similarly, the top two-wheeler maker Hero Honda set a new record by selling 4.36 lakh units last month, a notch higher than its previous highest 4.15 lakh in August 2009.
Mr Shashank Srivastava, Maruti Suzuki's Chief General Manager (sales), said the economic growth in the country is driving car sales. "We could despatch whatever we could produce," he added. Four models of Maruti - the Alto, the Swift, the DZire and the Eeco - posted their highest ever monthly sales in May.
He said that the car industry showed 25 per cent growth till date, and this should sustain for the entire first quarter. "We will face some constraints because of the annual plant shutdown for maintenance end of this month," he said.
For Maruti, sustained export growth also contributed to the overall volume. The company sold 90,041 units in the domestic market while it sold 12,134 units abroad.
The second largest carmaker, Hyundai Motor India, sold 46,808 units in May, showing a 7 per cent year-on-year growth. However, Hyundai's export at 19,657 units saw a drop of two percent in May, though its domestic sales grew 15 per cent to 27,151 units.
"Although the market continues to grow we were constrained by our planned annual maintenance shutdown in May which restricted our numbers as we had to divert our export production to meet the demand for the domestic market," said Mr Arvind Saxena, Director, Sales & Marketing, Hyundai Motors India.
Tata Motors' sales were up by 39 per cent - as new editions of Indica and Indigo, along with 3,550 Nanos, took volumes up to 21,326 units. Utility-vehicle major Mahindra too showed good sales in May.
Two-wheelers segment
In the two-wheelers segment, all players have increased their sales. "We have had significant contribution from all segments. For example, our scooter Pleasure has recorded sales of over 24,000 units this month, growing at 65 per cent," said Mr Anil Dua, Senior Vice President, Hero Honda.
Bajaj, the second largest two-wheeler company, reduced the distance with the market leader Hero Honda with a higher growth rate in May.
"Auto story continues to be strong. This will continue up to festive season. The real challenge from festive season will be to maintain a good growth against a high base," said Mr S.Ramnath, Head of research, IDFC-SSKI. "In a few months we will have more clarity on Eurozone crisis and its impact on the auto industry," he said.
The good sales, though, did not seem to cheer the market as the BSE auto index fell 1.35 per cent on Tuesday in a market that saw a 372-point fall. However, Maruti Suzuki shares were 1.8 per cent up at Rs 1259.20 on the BSE on Tuesday.
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