Moneycontrol Selects: Top stories this evening

(Representative Image)

Here are the top stories this evening:

RBI on brink of failure as retail inflation rises back to 7% in August 

The latest number means headline retail inflation has now spent 35 consecutive months above the medium-term target of 4 percent and eight straight months outside the 2-6 percent tolerance range of the Reserve Bank of India.

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IIP growth slows to 2.4% in July as base effect continues to normalise 

India's industrial growth, as per the Index of Industrial Production (IIP), slowed further in July to 2.4 percent from 12.7 percent in June, data released by the Ministry of Statistics and Programme Implementation on September 12 showed.

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After Apple, Google now plans to shift phone assembly to India from China

Google has asked manufacturers in India to submit bids for the assembly of 500,000 to 1 million units of its Pixel smartphones, a company source was reported as saying.

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Vedanta decides to set up semiconductor plants in Gujarat

Maharashtra, Telangana, and Karnataka were also in the running to host Vedanta-Foxconn's mega project, but in the last leg of negotiations in recent weeks, Gujarat pipped Maharashtra to the post.

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Govt plans Rs 20,000 crore aid to oil firms hit by soaring costs 

India plans to pay about 200 billion rupees ($2.5 billion) to the state-run fuel retailers, such as Indian Oil Corp., to partly compensate them for losses and keep a check on cooking gas prices, according to people familiar with the matter. The oil ministry has sought a compensation of 280 billion rupees, but the finance ministry is agreeing to only about a 200 billion cash payout, the people said, asking not to be identified as the discussions are private.

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Taking Stock | Sensex, Nifty stretch winning run to third day; realty, IT stocks shine

Buying was seen across sectors. IT, defence, and public sector banks were especially in demand. Broader markets also outperformed headline indices

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India's squad for T20 World Cup announced; Rohit Sharma to lead, Jasprit Bumrah returns 

Veteran pacer Mohammed Shami, who was excluded from the Asia Cup squad, is back in the T20 scheme of things as he has been picked for the home series against Australia and South Africa, and is named among the four reserve players for the World Cup.

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