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Monday, August 11 1997
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Duncan Goenka's takeover pulls Andhra Cements out of red![[Details]](/icons/bullet.gif){kind=icon}
Andhra Cements, after just a year-and-a-half of being taken over by the Duncan Goenka group, has firmly established itself on the road to total recovery. The company now stands second in Andhra Pradesh with around 10% market share and is next only to Raasi Cements.
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Korean firm to set up Rs 15 cr bobbin plant near Ahmedabad
Ilgin Group of Korea with a turnover of over $600 million is setting up a Rs 15 crore state-of-the-art bobbin plant near Ahmedabd in joint venture (JV) with the Siddhi Group of Industries.
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RBI says no lending below prime rates
The Reserve Bank of India (RBI) has shot down Bank of Baroda's proposal to lend below the bank's prime lending rate (PLR). The apex bank has instead directed all commercial banks that want to lend below prime lending rate to aggressively fund corporates by subscribing to their commercial paper (CP) issues.
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The Group
