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Monday, October 26, 2009

L&T sells stake in Voith Paper Technology

Larsen and Toubro has announced the sale of its shares in Voith Paper Technology India Limited effective october1, 2009 to its long term Joint Venture Partner, GmbH, Heidenheim, Germany.

VPTIL was a 50:50 JV between L&T and Voith Paper Gmbh,Germany, providing design, consultancy and other value added services to the Indian paper Industry that included setting up of complete paper plants.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Friday, Jun 20
11:30 Public Sector Net Borrowing 1 £17.686B £20.052B Revised from £20.155B
11:30 Retail Sales (YoY) 2 -1.3% 1.7% 5.0%
11:30 Retail Sales (MoM) 3 -2.7% -0.5% 1.3% Revised from 1.2%
11:30 Retail Sales ex-Fuel (YoY) 2 -1.3% 1.8% 5.2% Revised from 5.3%
11:30 Retail Sales ex-Fuel (MoM) 2 -2.8% -0.5% 1.4% Revised from 1.3%
18:00 Philadelphia Fed Manufacturing Survey 2 -1 -4
18:00 Industrial Product Price (MoM) 1 0.0% -0.8%
18:00 Raw Material Price Index 1 -0.8% -3.0%
18:00 New Housing Price Index (MoM) 1 -0.2% -0.4%
18:00 New Housing Price Index (YoY) 1 -0.6%
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