IIP grows at 4.9% in April: Indian industrial production measured by the Index of Industrial Production (IIP), expanded at rate of 4.9% in the month of April compared to 4.6% in March and 2.8% in the same month of previous fiscal. The growth was in line with the market expectations of 4.8% supported by expansion in manufacturing and mining sector. The activity of manufacturing sector, which accounts for around 77.6% of the IIP index, grew by 5.2% in April, rebounded from its Oct low of 2.2% and averaged 7.6 percent till Feb, before falling to 4.7% in Mar. Further, 16 out of the 23 industry groups showed positive growth during the month with manufacture of computer, electronic and...