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Saturday, March 1, 2008

GTC Industries - Outcome of Board Meeting

GTC Industries Ltd has informed that the Board of Directors of the Company at its meeting held on February 29, 2008, inter alia, has considered and granted its in-principle approval to demerge the Tobacco business and the Real Estate business into two separate entities. Both these entities will be listed on the Stock Exchanges where the shares of the Company are presently listed.

The Managing Director of the Company has been authorized to examine various options for working out a suitable scheme of Demerger and place before the Board for its approval.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jun 12
11:30 Index of Services (3M/3M) 1 0.6% 0.7% 0.7%
11:30 Manufacturing Production (YoY) 1 0.4% 0.4% -0.8%
11:30 Industrial Production (YoY) 1 -0.3% -0.2% -0.7%
11:30 Industrial Production (MoM) 2 -0.6% -0.5% -0.7%
11:30 Manufacturing Production (MoM) 2 -0.9% -0.8% -0.8%
n/a NIESR GDP Estimate (3M) 1 0.6%
18:00 Producer Price Index ex Food & Energy (MoM) 2 0.3% -0.4%
18:00 Producer Price Index (MoM) 2 0.2% -0.5%
18:00 Producer Price Index ex Food & Energy (YoY) 3 3.1% 3.1%
18:00 Producer Price Index (YoY) 2 2.6% 2.4%
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