Inflation drops to 4.05%

New Delhi, Aug. 17: Lower prices of essential food items, particularly vegetables and fruits, pulled down the inflation rate to a one-and-half-month low of 4.05 per cent for the week ended August 4 against 4.45 per cent in the previous week. On a year-on-year basis, wholesale prices-based inflation declined by over 1 per cent against 5.08 per cent during the corresponding period of the previous fiscal.

Core growth

New Delhi, Aug. 17: Decline in the production of crude oil coupled with a slowdown in output of other products, pulled back the growth of six key infrastructure industries to 5.3 per cent in June compared with 7.7 per cent a year ago.

ITC buy

Calcutta, Aug. 17: Russell Credit, a wholly owned subsidiary of ITC, has acquired the entire shareholding of Australian firm Technico Pty Ltd for an undisclosed sum, the company has informed the Bombay Stock Exchange.

Dabhol closed

New Delhi, Aug. 17: The Dabhol power plant has been shut down after gas supplies to the project were stopped because of a court order on the pricing of the fuel, sources in Ratnagiri Gas and Power, the owner of the plant, said.

Steel plant

New Delhi, Aug. 17: Steel Authority of India Ltd, the National Mineral Development Corporation and Rashtriya Ispat Nigam today signed an MoU for a four- million-tonne integrated steel plant in Chhattisgarh.