Financial Daily from THE HINDU group of publications
Friday, Apr 09, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 09, 2004 |
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Corporate
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Announcements Indo Rama cuts PSF price K.R. Srivats
New Delhi , April 8 POLYESTER manufacturer, Indo Rama Synthetics (I) Ltd (IRSL), has, from April 1, reduced the basic price of its 1.2 denier polyester staple fibre (PSF) to Rs 63.75 per kg. The price level of PSF stood at Rs 64.50 per kg as on March 1 this year. From April 1, the basic price of 1.4 denier PSF has been pegged at Rs 63.00 per kg. This is lower than the price of Rs 63.75 per kg that was effective from March 1. Informed sources held that the softening of landed cost of imported goods might have prompted the company to lower the domestic prices. Sources however maintained that the domestic demand for polyester products continued to be robust. IRSL has also lowered the basic prices of 130/34 partially oriented yarn (POY) to Rs 67.25 per kg from April 1 as against a price level of Rs 73.25 per kg as on March 1. While the basic price of 70/34 fully drawn yarn (FDY) has now been pegged at Rs 75.60 per kg from April 1, the basic price of polyester chips has been reduced to Rs 52 per kg.
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