Finolex Cables slashes prices

Finolex Cables Limited today announced that it has lowered the prices of its products owing to the reduction of VAT rates from 12.5 per cent to 4 per cent by the Andhra Pradesh government.

"We welcome the state government's move in reducing the VAT. It is our endeavour to provide the best value for our products and hence Finolex Cables has decided to pass on the benefits to our esteemed customers," Deepak Chabria, managing director of the company, which manufactures electrical and telecom cables, said in a press release.

Finolex produces a wide range of cooper cables fibre optic cables and components under the brand name "Optinet", the press release added.