New Delhi, Jun 12 - The industrial production growth has slipped to 2 per cent in April on account of dismal performance of manufacturing, mining and power sectors coupled with lower output of capital goods. The factory output measured in terms of index of industrial production (IIP) had seen a contraction of 1.3 per cent in April last year, according to official data released here today.

Mumbai, Jun 12 - The BSE benchmark Sensex today declined by over 90 points in early trade on sustained selling by funds amid a weakening trend on other Asian bourses. The 30-share barometer fell by 90.87 points, or 0.47 per cent, to 19,052.13 with stocks of consumer durables, metal, FMCG, auto and baking sectors leading the fall.

Srinagar, Jun 11 - Tax department has collected a record revenue of Rs 1,162.10 crore in the last fiscal, the Jammu & Kashmir government said today. "The revenue realised by Commercial Taxes Department during the last financial year has surpassed the target of Rs 1,110 crore by Rs 52.10 crore which is a significant achievement towards tax collection," an official spokesman said after the annual performance review meeting of the department here.

Mumbai, Jun 11 - The rupee came off from its lifetime intra-day low of 58.98, still logging its all-time closing low of 58.39, down by 24 paise, against the Greenback on weakness in local equities amid dollar outflows and USD demand from importers and some banks, extending losses for the fifth straight day. However, hopes of the central bank's intervention at lower levels and sluggish dollar overseas later helped the rupee recovery, a forex dealer said.

Mumbai, Jun 11 - The BSE benchmark Sensex today fell by a staggering 298.07 points to close at its lowest level in nearly two months, mainly led by drop in interest rate sensitive stocks as rupee slumped to new lows dashing hopes of a rate cut by RBI next week. Also, Jindal Steel logged the day's biggest loss as Naveen Jindal and the company were named as accused in the fresh FIR filed by CBI in connection with the coal allocation scam.

New Delhi, Jun 11 - Both the precious metals, gold and silver, today surged on stockists buying as weak rupee raised concerns of increase in import costs. While gold spurted by Rs 415 to Rs 28,515 per 10 grams, silver surged by Rs 905 to Rs 44,690 per kg on rising demand from industrial units and coin makers. Traders said a weak rupee would make the import of the precious metals in dollar terms costlier and increase retail prices. India imports most of its gold requirements.

New Delhi, Jun 11 - The government on Tuesday said the recent steps to curb gold import is showing results as demand for foreign exchange to buy gold has come down significantly. "In last 5 -7 days, the large foreign exchange for purchase of (gold) has come down considerably. It has come down from peak of USD 227 million to USD 7 million in (a particular) day. The average is USD 41 million.

New Delhi, Jun 11 - Amid the rupee touching a record low of 58.96 to a dollar, the Finance Ministry today said it is "not unduly disturbed" by the fall, and the domestic currency will stabilise in the next 3-4 days with large foreign fund flows. "This is a temporary phase. This is simply a correction. Our indication is some of the FIIs are now poised to bring in large funds. In next 3-4 days, we will see a mid-course correction," Department of Economic Affairs Secretary Arvind Mayaram told reporters here.

New Delhi, Jun 11 - Amid India's plans to supply 500 MW electricity to Pakistan, a delegation is on a visit to the neighbouring nation to discuss the modalities in this regard. Sources said the delegation, that includes Rita Acharya, Joint Secretary in the Power Ministry, is on a three-day visit that began on June 10.

Mumbai, Jun 10 - Surrendering most of its early gains, the BSE benchmark Sensex today closed just 12 points higher as rupee hitting record lows dashed hopes of a rate cut by RBI, while IT stocks rose on expectations of better dollar revenues. In a volatile trade, the 30-share index, commenced the day strong and touched an intra-day high of at 19,583.58 from its previous close, but settled only 11.84 points higher at 19,441.07.

New Delhi, Jun 10 - Both the precious metals, gold and silver, today rebounded in the national capital on emergence of buying at existing lower levels amid a firm trend in the Asian region. While gold recovered by Rs 100 to Rs 28,100 per ten grams and silver by Rs 185 to Rs 43,785 per kg on industrial units and coin makers buying.

New Delhi, Jun 10 - With rupee plunging to life-time low of 57.54 verus dollar, the Finance Ministry today said there is an unwarranted panic in the market and hoped it will settle down in a some time. "If you see weakening of all currency vis-a-vis dollar, rupee is also not unaffected in that sense.

Private carrier Jet Airways has hiked the salaries of its pilots, acceding to their long pending demand, even as its 24 percent stake sale deal with Etihad Airways awaits regulatory approvals. “The airline has hiked its pilots’ wages by up to 18 percent in staggered manner with retrospective effect from 2010-11,” sources close to the development said.