ICL to recast non-core businesses
The south-based cement major India Cements (ICL), is conducting a management programme to identify non-core businesses and decide on the course of action for these. Reports suggest that the company is working towards identifying non-core assets and restructuring operations. The company has a footprint in securities broking, financial services, chemicals and a few other non-core businesses. It may be recalled that N Srinivasan, Vice- Chairman & MD of ICL had stepped down from the top post in the country's cricket board owing to a betting scandal involving his son-in-law. By October 2013, the firm may make announcements of businesses which it wants to stay invested in or exit from . Investors of the company feel that the firm is not so focused on the cement business as on other businesses.