Here's a brief round-up of the business news in India for the week end June 13, 2015.
The Index for Industrial Production for the month of May surprised at a higher than expected 4.1 per cent. Economists on an average had expected IIP at around 1 per cent.
CPI inflation at 5.01%
Consumer price inflation came in marginally higher than expected at 5.01 per cent for the month of May. This was a widely anticipated figure given the RBI's concern over rising inflation.
Sun TV drops on licensing worries
Shares in SUN TV dropped sharply this week after there were worries that the company's licences for various channels may not be approved by the ministry.
US opens probe against TCS and Infosys for possible violations of H1-B visas
The US government has opened an investigation against two of the biggest Indian outsourcing companies, TCS and Infosys for possible violations of H1-B visa rules.
Sensex drops 1.3% for the week and Nifty 1.6%
The Sensex and the Nifty ended the week lower with weakness seen in several frontline stocks. The Nifty ended the week below the 8000 points mark.
Reliance to invest Rs 2 Lakh Crores
Reliance Chairman Mukesh Ambani said that the company will strengthen its core business, planning to pump in Rs 2 lakh crore in the next 18 months. As far as retail business is concerned, he said the company will expand retail presence to more than 900 cities by next year. He was speaking at the company's 41st annual general body meeting.