NEW DELHI: Steel Authority of India has achieved a domestic sales growth of 16 per cent during the first nine months of the current fiscal, compared with the corresponding period last year. The company sold around 5.1 million tonnes of steel products in the country during the April-December period, a SAIL statement said in the capital on Friday. The statement said the inventory level at SAIL's plants and stockyards at the end of December 1998 was 30 per cent lower compared to last year.

Gujarat to reduce its stake in GIIC

AHMEDABAD: The Gujarat government plans to reduce its stake in the Gujarat Industrial Investment Corporation soon by offering fresh equity through private placements. GIIC managing director R Bannerji said in Ahmedabad on Friday, "We are not actually going in for any disinvestment but certainly plan to reduce our stake in the corporation by initially offering fresh equities amounting to 26 per cent of the total equity base of GIIC to investingcompanies."

Ganesh Benzoplast

MUMBAI: Ganesh Benzoplast Ltd (GBL), the flagship company of the Rs 300 crore Ganesh group of companies, has launched its branded, pure, iodised and free flow salt in the North-eastern and Tamil Nadu markets.

Hindustan Lever

MUMBAI: Hindustan Lever Ltd's (HLL), Bangalore factory has received the National Productivity Award for the fourth year in a row from the National Productivity Council. The Bangalore factory has received the "Best Productivity Performance Award" for 1996-97.