Business highlights

Following are the top business stories at 1935 hours: DEL54 BIZ-INFLATION Retail inflation eases to 4.29 pc in April New Delhi: Retail inflation slowed to 4.29 per cent in April from 5.52 per cent in March, mainly due to easing food prices, government data showed on Wednesday.

DEL66 BIZ-LD IIP IIP enters positive territory after two months, grows 22.4 pc in March New Delhi: Industrial production growth entered positive territory after a gap of two months with a record 22.4 per cent rise in March this year, mainly due to the low-base effect and good show by manufacturing, mining and power sectors. DEL46 BIZ-LD STOCKS Sensex skids for 2nd day as inflation worries haunt global equities Mumbai: The BSE Sensex spiralled lower for the second straight session on Wednesday, weighed by heavy selling in banking and finance stocks, as global equities extended their losses on concerns that soaring commodity prices will trigger earlier-than-expected rate hikes.

DEL47 BIZ-LD-RUPEE Rupee drops by 8p to 73.42 on forex outflows, firm crude Mumbai: The rupee declined by 8 paise to close at 73.42 against the US currency on Wednesday, snapping its four-day gaining streak due to risk aversion in the global markets and surge in crude oil prices.

DEL37 BIZ-GOLD-PRICE Gold, silver decline on weak global trends New Delhi: Gold in the national capital on Wednesday weakened by Rs 229 to Rs 47,074 per 10 gram following decline in global precious metal prices, according to HDFC Securities.

DEL28 BIZ-BLACKFUNGUS-DRUG Black fungus scare: Govt engaging with drug makers to ramp up production of anti-fungal drug New Delhi:The government is engaging with the drug manufacturers to ramp up the production of an antifungal drug used for the treatment of mucormycosis, the Chemicals and Fertilizers Ministry said, as a rash of cases of rare black fungus infection have been reported among people either recovered or recovering from COVID-19.

DEL26 BIZ-BHARAT BIOTECH Disheartening to see some states complaining about co's vaccine supply intentions: Bharat Biotech New Delhi:It is quite disheartening to listen to some states complaining about Bharat Biotech's intentions regarding supply of COVID vaccine Covaxin, a top company official said on Wednesday.

DEL10 BIZ-PETROL-PRICE-HIKE Petrol, diesel prices up 25 paise; Bhopal, Indore join cities with Rs 100/litre petrol New Delhi: Petrol and diesel prices on Wednesday were hiked by 25 paise per litre each, the third increase this week, propelling petrol price to cross Rs 100 per litre mark in more cities including Bhopal and Indore.

DCM56 BIZ-GOYAL-VACCINE PATENT WAIVER Need quick consensus on vaccine patent waiver, transfer of tech to overcome COVID crisis: Goyal New Delhi: Commerce and Industry Minister Piyush Goyal on Wednesday said there is a need for a quick consensus at the WTO on the proposal for patent waiver as well as transfer of technology and availability of raw materials for vaccines to deal with the ongoing COVID crisis.

DCM27 BIZ-LD CADILA-ANIMALHEALTHCARE Cadila Healthcare arm to sell India-focused animal health business for Rs 2,921 cr New Delhi: Cadila Healthcare on Wednesday said its wholly-owned subsidiary Zydus Animal Health and Investment has entered into definitive pacts for sale of its animal healthcare established markets undertaking to Multiples Alternate Asset Management-led consortium for Rs 2,921 crore.

DCM53 CAB-LD PLI-BATTERY Govt approves Rs 18,100 cr PLI scheme for promoting ACC battery manufacturing New Delhi: The government on Wednesday approved the Production Linked Incentive (PLI) scheme for manufacturing advanced chemistry cell (ACC) battery at an estimated outlay of Rs 18,100 crore.

DCM12 BIZ-LD SIAM-SALES DATA COVID impact: Passenger vehicle sales in India dip 10 pc month-on-month in April New Delhi: Passenger vehicle wholesales in India declined by 10 per cent to 2,61,633 units last month as compared to March this year, as COVID-19-led restrictions across various states impacted demand, auto industry body SIAM said on Wednesday.

DCM26 BIZ-POWER MIN Proactive steps taken to ensure 24x7 power supply to oxygen plants: Govt New Delhi: The power ministry on Wednesday said it has taken proactive measures to ensure 24X7 power supply to oxygen plants in the country amid the deadly second wave of the pandemic DCM47 BIZ-TAX-REFUND I-T Deptt issues Rs 17,061 cr of refunds this fiscal New Delhi:The Income Tax Department on Wednesday said it has issued over Rs 17,061 crore of refunds to more than 13 lakh taxpayers so far this fiscal year.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)