The Telegraph
Since 1st March, 1999
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Business Briefs

Inflation rises to 4.35%

New Delhi, Sept. 28: A steep hike in prices of fruits and vegetables and a marginal price rise in edible oil and food products have pushed the rate of inflation for the third consecutive week to 4.35 per cent for the week ended September 13. The point-to-point wholesale price index (WPI) inflation rate rose by 0.06 per cent from the previous week's 4.29 per cent. It was 3.97 per cent in the year-ago period.

IDBI chief

Mumbai, Sept. 28: UTI Mutual Fund chairman and managing director M. Damodaran will take concurrent charge as interim chairman and managing director of Industrial Development Bank of India (IDBI) from October 1. Damodaran succeeds P. P. Vora, whose term ends on September 30.

Escorts plan

New Delhi, Sept. 28: Escorts Limited has sold off its interest in several group companies, including Escorts JCB and Goetze India, while proposing to scale up investments in farm equipment ventures in the US and Europe. The company has realised a little over Rs 250 crore from the equity divestment in four group companies.

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