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Monday, March 8, 2010

Sold 48% of co’s topline to Schneider: Zicom

Commenting on the sale, Pramod V Rao, MD of Zicom Electronic Security Systems, said that 48% of the company’s topline was sold to Schneider, adding that the proceeds from the sale would be used to diversify into high growth areas and to retire some of Zimcom’s debts.

Rao further said that margins in the retail business was low at present owing to high marketing costs.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jul 17
21:00 4-Week Bill Auction 1 4.230% 4.235%
22:15 Fed's Daly speech 2
23:00 Fed's Cook speech 2
Friday, Jul 18
01:30 Net Long-Term TIC Flows 1 $259.4B $-8.2B Revised from $-7.8B
01:30 Total Net TIC Flows 1 $311.1B $-14.6B Revised from $-14.2B
04:00 Fed's Waller speech 2
08:30 Credit Card Spending (YoY) 1 2.2%
18:00 Housing Starts (MoM) 2 1.300M 1.256M
18:00 Building Permits (MoM) 2 1.390M 1.394M Revised from 1.393M
18:00 Building Permits Change 1 -2%
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