Inflation rate dips to 5.61%

New Delhi, May 20: The rate of inflation dipped 0.06 per cent to 5.61 per cent during the week ended May 7 due to a drop in prices of food and manufactured products. The point-to-point wholesale price index fell from the previous week's 5.67 per cent. It was 4.60 per cent in the year-ago period. The Reserve Bank had estimated an inflation rate of 5-5.5 per cent for this financial year.

Telecom FDI

New Delhi, May 20: The notification on increasing foreign direct investment in telecom to 74 per cent from 49 per cent will come by month-end with minor changes. ?We have sent the draft to the ministry of finance with suggestions from industry. DoT and finance ministry officials are in touch and the notification should be out by end of this month,? IT minister Dayanidhi Maran said.

Sasken offer

Mumbai, May 20: Sasken Communication Technologies has filed a draft red herring prospectus with the market regulator for its public issue of five lakh equity shares of Rs 10 each.

Reliance find

New Delhi, May 20: The government has declared Reliance?s fourth gas discovery in the Bay of Bengal as commercially viable.

SSI stake

Mumbai, May 20: SSI has offloaded a 10.15 per cent stake in Aptech and has appointed ASK-Raymond James & Associates to sell the remaining 15.60 per cent in the firm.