MARKETS ON THURSDAY: Sensex up 578 pts; RBI holds rates; inflation outlook cut

All that happened in the markets today

2:34 PM

RBI Policy Decision

 

October-December CPI seen at 4.4%

2:33 PM

RBI Policy Decision

July-September CPI seen at 4.7%

2:33 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,521.90	+502.83	+1.52
S&P BSE SENSEX 50	10,765.09	+167.39	+1.58
S&P BSE SENSEX Next 50	33,843.11	+494.79	+1.48
S&P BSE 100	10,699.83	+164.69	+1.56
S&P BSE Bharat 22 Index	3,501.59	+51.65	+1.50

2:32 PM

RBI Policy Decision

April-June CPI seen at 5.1% vs 4.4% in February

2:30 PM

RBI Policy Decision

RBI keeps repo rate unchanged at 6%

2:15 PM

RBI may keep repo rate unchanged at 6% in today's policy review: BS Poll

There is a clear consensus that the six-member monetary policy committee of the Reserve Bank of India (RBI) would keep the repo rate unchanged at 6 per cent on Thursday.

 

But surprisingly, there is a narrow chance that the central bank may cut rates in the future, according to a Business Standard poll of 15 economists and treasurers. READ MORE

2:00 PM

Market Check

 

S&P BSE Sensex	33,495.39		1.44%
Nifty 50	10,281.60		1.51%
S&P BSE 200	4,523.72		1.54%
Nifty 500	9,111.90		1.52%
S&P BSE Mid-Cap	16,431.14		1.52%
S&P BSE Small-Cap	17,732.82		1.62%

1:45 PM

Centre may completely exit Air India, sell its residual stake to LIC

 

The Centre may completely exit Air India by selling its residual stake to Life Insurance Corporation of India (LIC) and other financial institutions, according to government sources. This move would help address investors’ concerns related to possible interference in the airline’s operation.

 

As part of the privatisation process, the government has decided to disinvest 76 per cent equity stake in Air India Limited, along with Air India’s 100 per cent holding in its subsidiary, Air India Express Limited, as well as 50 per cent in ground handling joint venture AISATS. READ MORE

1:30 PM

Salman's blackbuck case conviction: Being Human licensee firm's stock falls

Mandhana Retail Ventures was trading 3.4% lower at Rs 112, falling 14% from its early-morning high after media reports said the Jodhpur court found actor Salman Khan guilty in the 1998 Black buck poaching case. The stock hit a high of Rs 132 in intra-day before the Court verdict. A combined 151,843 shares exchanged hands on the counter on the BSE and NSE till 11:42 am. Mandhana Retail Ventures manufactures and sells Salman Khan's Being Human brand of apparel. READ MORE HERE

 

1:16 PM

Here's how rate sensitive stocks have performed since the last RBI policy

Rate sensitive stocks are in focus ahead of the outcome of RBI Monetary Policy Committee’s (MPC) decision later today. Since the last policy annoucement on February 7, Nifty Realty and Nifty Bank indices have slipped 7.7% and 6% respectively, as compared to 3.3% fall in the Nifty50 index in the same period, ACE Equity data showed. Nifty Auto, however, was flat during the same time. The first RBI Policy of FY19 is expected to be a non-event. The six-member MPC is widely expected to keep the repo rate unchanged at 6 per cent on Thursday. READ MORE

1:00 PM

Tata Motors rallies 14% in four days on strong JLR, domestic sales

Shares of Tata Motors have moved nearly 5% higher to Rs 372 per share, extending their 9% surge on BSE in the past three days, after Jaguar Land Rover (JLR) India reported a strong 83% rise in FY18 sales. Tata Motors-owned JLR on Tuesday said it plans to bring 10 new products in India in 2018-19 (FY19), riding high on 83% jump in sales in the last fiscal. READ MORE

12:44 PM

Adani Enterprises trades ex-date to spin off its renewable energy biz

Adani Enterprises surged 12% to Rs 148 on the BSE on back of heavy volumes. The stock of Adani Group Company turned ex-date to spin off its renewable sector business with effect from today. In October last year Adani Enterprises had announced to demerge its renewable energy business into associate company Adani Green Energy as part of simplifying overall business structure. READ MORE

12:29 PM

Kotak Securities on Bodal Chemicals

Given the execution delay of certain facilities, we have revised our earnings estimated downwards to Rs8.5 (earlier Rs8.8), Rs9.1 (earlier Rs10.8) and Rs10.8 (earlier Rs12.6) for FY18E, FY19E and FY20E, respectively. Despite the sharp fall in the stock price in the recent past, at current valuation of 14.8x/12.5x FY19E/FY20E revised earnings, the stock is fairly valued. Hence, we recommend REDUCE (earlier Accumulate) rating, with a revised target price of Rs 140 (earlier Rs164).

12:15 PM

RBI may keep repo rate unchanged at 6% in today's policy review: BS Poll

There is a clear consensus that the six-member monetary policy committee of the Reserve Bank of India (RBI) would keep the repo rate unchanged at 6 per cent on Thursday. But surprisingly, there is a narrow chance that the central bank may cut rates in the future, according to a Business Standard poll of 15 economists and treasurers. READ MORE

12:00 PM

Markets at Noon

 

S&P BSE Sensex	33,462.39		1.34%
Nifty 50	10,264.35		1.34%
S&P BSE 200	4,518.65		1.43%
Nifty 500	9,095.05		1.33%
S&P BSE Mid-Cap	16,410.86		1.40%
S&P BSE Small-Cap	17,722.90		1.57%