Sectors such as mining, power generation, infrastructure/construction goods and consumer durables also recorded poor performance.
The consumer price index rose 1.54% in the 12 months through June, down from an increase of 2.18% in the previous month.
Signalling its worries about inflation, the RBI surprised markets last week in raising the secondary reverse repo rate by 25 basis points to 6%.
The Indian economy faces a rare double whammy of shrinking prices for producers and rising prices for consumers. Raghuram Rajan recently said India is importing global deflation in commodities, reflecting in shrinking prices for producers. Consumer prices, mostly reflecting what people pay for food items, are rising because […]