India slips into deflation first time in three decades-R s

SiliconIndia Daily dose

Friday, June 19, 2009
Top news
The Indian economy has registered deflation for the first time in 32 years. India's inflation rate has dropped to minus 1.61 percent for the week ended June 6 according to the data released by the Federal Ministry of Commerce and Industry.
Corporate India has produced 3,00,000 jobs for people in the U.S. between 2004 and 2007, though the Indian outsourcing industry is blamed for taking away American jobs.
NASA launched a space mission from Cape Canaveral carrying two lunar satellites and a missile that will fire a deep hole in the surface of the Moon. The satellites lifted off together on top of an Atlas V rocket.
Indian online advertising is yet to tab the SMB market as only six percent of PC-owning Small and Medium Businesses(SMBs) advertise online. However, it is expected to grow at a compound annual growth rate of 27 percent, as per a report.
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The realty stocks are feeling the heat because of the decline in demand faced by the real estate market. Compared to last year, the value of realty stocks has dropped by almost 46 percent from 5,885.78 points to 3,190.13 points at today's close.
D-Link India ended the day at Rs 47.90 losing by 17.80 (27.09 percent) after opening at Rs 47.70. During the day, the stock hit a high of Rs 53.95, while the lowest was Rs 43.00 with 78,825 shares being traded through the day.
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India focused Elephant Capital, a private equity fund, is focusing to invest in those deals which will ensure a majority of stakes in a company. The firm is scouting for more deals in privately held firms.
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