MPC meet: Status quo on rates, cut in CRR to ease liquidity pain
The Reserve Bank of India held policy rates steady but lowered the cash reserve ratio to potentially ease borrowing costs. GDP growth projections for FY25 were reduced to 6.6% while inflation estimates were raised to 4.8%. The central bank also temporarily lifted the cap on interest rates on US dollar deposits to address the rupee’s […]
India will continue to grow at 6-8% for next 5 years: Ashwini Vaishnaw
India’s Information and Broadcasting Minister, Ashwini Vaishnaw, projected a 6-8% real growth rate for the next five years, attributing it to Prime Minister Modi’s transformative policies. He highlighted public investments, manufacturing focus, inclusive growth, and simplified laws as key drivers, positioning India as a beacon of hope amidst global uncertainties.
NHAI to rate concessionaires on the quality of construction and maintenance of national highways
The National Highways Authority of India, on Friday, said it has developed a comprehensive rating system for assessing performance of the concessionaires aimed at enhancing accountability and setting new benchmarks in quality construction and management of national highways.
Tech View: Nifty forms long bull candle with minor shadow. What should traders do on Monday?
Indian markets ended lower on Friday, breaking a five-day winning streak. Bank and IT stocks weighed on the indices. The Nifty closed marginally lower, but the overall trend remains positive. The next resistance level is at 24,850.
Board of Paytm’s Singapore arm approves stake sale in Japanese firm PayPay Corporation
Paytm’s sale aligns with its strategy to offload non-core assets and bolster its capital base as it prioritizes scaling its core payments business after a tough year. Recently, the fintech firm sold its entertainment ticketing arm, Paytm Insider, to Zomato for Rs 2,048 crore.
FIIs fixing billion-dollar blunder, bank stocks on top of buying list
Foreign institutional investors (FIIs) are returning to the Indian stock market after a period of selling. They’ve invested heavily in financials, particularly HDFC Bank, boosting its market cap. While some analysts are optimistic about this revival, others remain cautious due to high valuations and slowing growth.
Maruti Suzuki shares jump 4% on price hike announcement
Maruti Suzuki India’s shares rose by up to 4% in Friday’s trading following the company’s announcement of a price hike on its cars. The automaker stated that the price increase, effective from January 2025, is aimed at addressing rising input costs and operational expenses.
Vishal Mega Mart sets IPO price band at Rs 74-78, which opens on December 11
Vishal Mega Mart’s initial public offering (IPO), valued at Rs 8,000 crore, will open for subscription on December 11 and close on December 13. The company has set a price range of Rs 74-78 per share. The IPO is a complete Offer For Sale (OFS), meaning the company will not receive any proceeds from the […]
CRR cut will lower cost of funds, help banks’ NIMs; growth to pick up Q3 onwards: Keki Mistry
Keki Mistry, Former VC & CEO of HDFC, lauded the RBI’s 50 bps CRR cut, injecting ₹1.16 trillion into the system. This move is expected to lower banks’ funding costs, benefiting consumers without squeezing margins. Mistry predicts a GDP growth of 6.7-6.8%, exceeding RBI’s 6.6% forecast, driven by a reviving rural economy and urban pickup.
Bank stocks rally up to 2% after RBI cuts CRR to 4%
UCO Bank led PSU banks, rising 2.8% to Rs 51.10, followed by Canara Bank up 2.4% at Rs 110.75, and Bank of Baroda gaining 2% to Rs 264.95. SBI rose 1.2% to Rs 875.50 post-RBI’s policy decision. Among private banks, Axis Bank gained 2% to Rs 1,189.4, while ICICI Bank was up 1% at Rs […]