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Baroda Rayon spins out restructuring plan
The Rs 353 crore Baroda Rayon has chalked out a comprehensive restructuring plan in association with its management consultant, Arthur Andersen. The restructuring plan includes doubling the production capacity at its nylon tyre cord plant, diversifying into new ventures and commencement of production at its polyster filament yarn unit.
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A-I goes an extra mile in bid to counter BA move
Another round of fare-wars has begun. After the recent British Airways (BA) decision to offer a discounted two-way fare of Rs 26,000 to the United Kingdom (UK) and 40% off on other destinations for out-bound travel from India, Air-India (AI) has followed suit. The national carrier on January 20 announced heavy fare cuts and other attractions to lure passengers during the slack-season period up to March 31.
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Voltas leases LPG business unit to Andhra Cylinders
Voltas, the Tata group company, has leased out its liquified petroleum gas (LPG) cylinder business to Andhra Cylinders. The move is in adherence to the company policy of ammassing the higest returns possible from its assets.
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IFCI sanctions up 56%, disbursals down a shade
The Industrial Finance Corporation of India (IFCI) has recorded a marginal fall of 0.84% in its disbursals, which stood at Rs 3,766 crore during the first quarter of the current fiscal. However the IFCI has managed to register a significant rise in its sanctions, which stood at Rs 7,586 crore, a massive rise of 56%
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