Sensex slips 215pts amid volatility post repo rate hike; ITC, RIL weigh

The RBI today raised the repo rate to 4.9 per cent, up from 4.4 per cent. The Central Bank also raised consumer price (CPI) or retail inflation forecast for FY23 to 6.7 per cent from 5.7 per cent.

3:35 PM

Closing Bell: Markets slip for 4th day as RBI hikes repo rate by 50 bps; Nifty holds 16,350

 

3:33 PM

Closing Bell: Sensex drops 531 pts from day's high; ends 215 pts lower

 

3:23 PM

JUST IN: Goldman Sachs raises oil forecast to $135/ barrel for H2 of 2022-H1 of 2023

3:16 PM

Inflation a reality, with which, we have to live now: SBI Chairman to CNBC TV-18

50 bps rate hike was factored in by market. Inflation is a reality, with which, we have to live now, SBI Chairman Dinesh Kumar Khara told the news channel. 

State Bank of India (SBI) Chairman Dinesh Khara

3:08 PM

RBI policy: Further repo rate hikes clearly on the cards, says ICRA's Aditi Nayar

The Governor's reminder that the repo rate is still below the pre-pandemic level served as a clear signal that more rate hikes lie ahead. Read more

2:59 PM

Realty stocks gain steam despite RBI's hawkish stance

2:54 PM

YES Bank to form alternate Board after exiting restructuring scheme

The bank's largest shareholder, SBI, has proposed Prashant Kumar's name for MD & CEO's position for a three-year term. READ HERE

2:46 PM

Expert take on RBI policy: Higher interest rate cycle likely to prevail over next few quarters

The RBI monetary policy has largely been in line with expectations, a 50-basis point hike was expected. The initial reaction had been bullish, this does not seem justified, higher interest rates are bound to hurt corporate margins and earnings. We expect this higher interest rate cycle to continue for the next few quarters and see a slowing ecosystem where money supply will be significantly tighter.

Views expressed by Nikhil Kamath, Co-founder, True Beacon and Zerodha

2:42 PM

Bata India dives after 2.8% promoter stake sale; stock down 8% in a week

On June 1, 2022, BATA (BN) B V, the promoter of Bata India, divested 3.6 million shares or 2.8 per cent stake of the footwear company for nearly Rs 613 crore through open market transactions. READ HERE

2:37 PM

Reliance Capital CoC to further extend resolution plan submission date

As of now, only three bidders are actively engaged with the lenders for Reliance Capital RCAP resolution including Piramal, Yes Bank and IndusInd. Read here

2:26 PM

Investors' lap up media stocks; TV18 surges over 7%

2:20 PM

RBI monetary policy: Ladder your FDs and benefit from higher rates later

Home loan borrowers must pre-pay to prevent their loan tenures from rising rate regime. READ MORE

2:14 PM

Expert take on RBI policy: India in a better place to handle macro-economic shocks vs 2008

The RBI rate was widely expected. The priority (rightly so) for the central bank is taming inflation. Given that oil has stayed above $100 consistently and supply shocks from Ukraine and China remain big unknowns, it has had to increase its forecast for inflation from 5.7% to 6.7% for FY23. Inflation may actually end up even higher. What the market does not like is surprises. To that end, the RBI has done a great job in communicating clearly its priorities, setting expectations, acting decisively and swiftly. The silver lining for us is India is in a far better position than 2008 to deal with macro-economic shocks as we navigate choppy waters. Further signaling seems to suggest some more rate hikes are on the way. Any slowdown in inflation or skipping a rate hike would be positive surprises for the market.

Views expressed by Kanika Agarrwal, Co-founder, Upside AI

2:13 PM

Expert take on RBI policy: Expect 10-year G-sec yield to cross 8% before 2022-end

 MPC’s focus has now turned to taming inflation as reflected by its hawkish stance and aggressive rate hike.

We believe RBI is front-loading rate hikes (90bps in 2 months!). We expect another 50bps repo rate hike by the end of FY23 leading to an overall 140bps rate hike in FY23.

Such a steep rise in borrowing costs will affect discretionary spending and dampen the nascent recovery of investments. We think that 10yr G-sec would cross 8% sooner than our earlier projection of - by end of CY22.

Views by Sumit Shekhar, Economist, Ambit Capital.

2:06 PM

SJS Enterprises rallies 31% in last nine days on strong Q4 results

Shares of SJS Enterprises hit an over six-month high of Rs 492 and rallied 9 per cent on the BSE in Thursday’s intra-day trade on healthy demand outlook. The stock has surged 31 per cent in the last nine sessions, after the company delivered a strong and robust performance, outpacing the industry during March 2022 quarter. READ MORE