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“2014 To Be Year Of Consolidation For Murugappa Group”

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January 8: A Vellayan, Chairman at Murugappa Group, believes Indian growth will remain at 5% in FY15. Discussing the group’s capex utilization, he says 2014 is set to be a year of consolidation for Murugappa, with no major capex plans. He also speaks about planned investments, growth in financial services and insurance businesses and why he is not in the running for a bank license.