Grasim

But this apart, the company appears to be headed in the right direction.

Now, with the addition of another 60,000 tonnes capacity, Grasim is set to become globally competitive as a producer of viscose staple fibre. Furthermore, Grasim will now save on tax outflow on account of reduction in the corporate tax surcharge.

The 7.50 lakh tpa sponge iron facility is also operating at full capacity, which should boost volumes. Increased prices in the landed cost of scrap and lower production of sponge iron have both combined to buoy up domestic prices of sponge, which augur well for Grasim.

Company sources say even a lower