Inflation rises to 4.27%

New Delhi, July 13: Costlier food items, such as vegetables, pushed up the rate of inflation to 4.27 per cent for the week ended June 30, but analysts said the Reserve Bank is unlikely to raise borrowing costs as the price index was within limits. Although the wholesale prices-based inflation was lower than the year-ago level of 5.21 per cent, it rose for the second week in a row.

IL&FS stake

New Delhi, July 13: IL&FS was today given a go-ahead by the Foreign Investment Promotion Board to offer a 5 per cent stake to Japan-based Orix Corporation in its proposed company, IL&FS Securities.

R-Com plan

New Delhi, July 13: Reliance Communications will approach TDSAT next week seeking refund of Rs 400 crore from BSNL and MTNL in a case pertaining to routing of international calls as local ones.

Dabhol gas

New Delhi, July 13: GAIL (India) has delivered gas to the Dabhol Power plant in Maharashtra. This will help the unit switch from expensive naphtha to cheaper green fuel.

Essar Oil

New Delhi, July 13: Essar Oil will next week shut its new oil refinery at Vadinar, Gujarat, for three weeks to integrate the last two secondary units that will help the plant reach its full capacity of 10.5 million tonnes in August.