Moser Baer India raises CDR prices by 5-10%

Moser Baer India Ltd, the world's third largest maker of recordable compact discs, said on Monday it had raised product prices by between 5 and 10 per cent because of a global shortage.

"With some customers we've raised prices by this amount as there is a shortage of CDRs in the market," Rakesh Govil, company treasurer and head of corporate strategy, said.

"With other buyers, we expect to complete negotiations in the current quarter (ending March), which will get reflected in the financials of the next quarter."

Moser Baer was quoting 2.15 per cent higher at 221 rupees in afternoon deals on the Bombay Stock Exchange. The main index was down 0.70 per cent.

Recordable compact discs are data storage devices with multiple uses. They can be used to create computer back-up files of vital information, to store downloaded music from the Internet or to copy pirated software.

New Delhi-based Moser Baer competes with global CDR makers such as Taiwanese firms Ritek Inc and CMC Magnetics Corp.