State Bank ready to slash stakes below 51 per cent in subsidiaries
Exactly four years after the implementation of the McKinsey recommendations on an organisational recast, the State Bank of India is embarking on another round of restructuring to face the next millennium.

Indian Rayon to spin off sea-water magnesia division
Indian Rayon, the Aditya Birla group major, has finally decided to hive off its loss-making sea-water magnesia division. The board will meet on Tuesday next to approve the decision.

Bilt plans to hive off industrial paper unit
Ballarpur Industries, the country's largest paper manufacturer, plans to hive off its industrial paper and board business into a separate joint venture company.

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