Outlook: IIP growth in Jan'17 revived to 2.7% mainly on the back of 2.3% growth in manufacturing sector. However, only 9 industries out of 22 showed positive growth indicating prevailing sluggish growth in the industrial sector. Improvement in manufacturing PMI to 50.7 in Feb'17 v/s 50.4 in Jan'17, growth in auto sales number for Feb'17 compared to previous month and strong traction in mining sectors indicates that IIP growth to improve in near term. CPI inflation rose to 7-month high level due to the firming up of food prices mainly fruits and unwinding of favorable base effect. Given the moderation in crude oil prices and strengthen of rupee v/s USD, fuel prices are not likely...