New Delhi: Economic woes continued to haunt India as the BSE sensex slumped 300 points on Friday after Infosys' growth forecast for 2014 disappointed markets and sluggish industrial output data added to the gloom. The country's second biggest software exporter forecast 6% to 10% growth for the 2014 fiscal year and the overall guidance led to an over 20% slide in the company's share price, the biggest decline since 2003. Later in the day, data released by the Central Statistics Office (CSO) showed industrial output grew 0.6% in February, slower than the 4.3% in the year-ago period. The February data was also slower than the previous month's expansion of 2.4%. But there was some glimmer of good news as separate data showed retail inflation slowed marginally in March to 10.4% from the previous month's 10.9% |
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