Yes Bank share price today dipped c. 14%, hitting 40-month low. Retail inflation touches seven-month high of 3.05% in May. IIP rises 3.4% in April. Jet Airways share price slumps over 23% after NSE said shares to be pulled out of F&O trading from June 28. AdiGro Aviation founder still interested in Jet Airways, says can’t do it without Etihad. CFM International to announce 600 engine jet order from IndiGo.
Moving on to the top Business news today:
Retail inflation touches seven-month high of 3.05% in May. IIP rises 3.4% in April.
Retail Inflation: As per the data released by Central Statistics Office (CSO), retail inflation touched a seven-month high of 3.05% in May 2019 vs 2.99% in April. The previous high was in October 2018, when the retail inflation was recorded at 3.38%.
This sudden rise in retail inflation which is calculated on the basis of Consumer Price Index (CPI) has been linked to the hike in price of vegetable and food items.
Industrial Growth: Index of Industrial Production (IIP) grew by 3.4% in April 2019 vs 0.3% a month ago, primarily on back of better performance by mining and power generation segments.
14 out of the 23 industry groups in the manufacturing sector showed positive growth in comparison to the corresponding month of the previous year. The industry group 'Manufacture of Wearing Apparel' showed the highest positive growth of 33.6%.