Sensex sinks 294 pts as RBI keeps repo rate unchanged, Nifty nears 18,600

CLOSING BELL, JUNE 8, 2023: Sun Pharma, Kotak Bank, Tech M, M&M, Axis Bank, HUL, Tata Motors, TCS, Nestle India, and Bajaj twins dropped between 1 per cent and 3 per cent

3:41 PM

Nifty 50 Losers:: Grasim sheds 3%; Kotak Bank, Sun Pharma, Tata Consumer, Tech Mah dip over 2%

3:39 PM

Nifty 50 Gainers:: NTPC, JSW STeel rally around 3%; ONGC, PowerGrid up 1.5%

3:37 PM

Sensex 30 Heatmap:: 6 Gainers v/s 24 Losers

3:35 PM

CLOSING BELL:: NSE Nifty 50 declines 92 points to 18,635

3:33 PM

CLOSING BELL:: S&P BSE Sensex sheds 294 pts, ends at 62,849 after RBI leaves key rates untouched

3:24 PM

India in talks with US on steel, aluminum tariff exemption: Report

India is in talks with the United States to seek an exemption on steel and aluminum tariffs that were imposed by former U.S. President Donald Trump, while offering withdrawal of some retaliatory tariffs, three Indian sources told Reuters. READ MORE

3:15 PM

ALERT:: LTIMindtree and SNP Partner to Launch 'Fast Forward'; stock down 2%

LTIMindtree in collaboration with SNP Schneider-Neureither & Partner SE, a world-leading provider of software solutions for digital transformation processes, automated data migrations and data management in the SAP environment, today announced the launch of 'Fast Forward' for BLUEFIELD implementation, powered by SNP's proprietary approach.

3:06 PM

Indian GCC market size to grow 144% to $110 billion by 2030: EY report

Led by software exports, the Indian Global Capability Centre (GCC) market size is expected to expand over 144 per cent to $110 billion by 2030 from the current $45 billion, consultancy firm EY said in a report on Thursday. Moreover, the GCC industry is expected to hire around 2.6 million people in India by the end of this decade. READ MORE

2:57 PM

SpiceJet partners with FTAI to restore fleet, to lease up to 20 engines; stock soars 9%

SpiceJet had also said there were no plans to file for insolvency, quelling fears of a spillover after rival Go Airlines (India) filed for voluntary bankruptcy. READ MORE

2:46 PM

Expert on RBI Policy: Key takeaway is decision to roll out regulatory framework for digital lending

>> The decision to keep the repo rate unchanged is in the expected line, as the consumer price index-based (CPI) inflation has come down. Unchanged policy rate is expected to fuel capital expenditure. 

 

>> Having said that, the key takeaway from the MPC meet is the decision to roll out of the regulatory framework for default loss guarantee arrangement (DLGA) in digital lending.

 

>> As per the first loss default guarantee (FLDG) model, the first hit on a default is taken by the fintech firm that originated the loan. It's a positive development which will strengthen credit penetration and boost the digital lending ecosystem.

 

Views expressed by Aditya Damani, Founder & CEO, Credit Fair
 

2:37 PM

ALERT:: Zydus gets final USFDA nod for Esomeprazole Magnesium; stock marginally down

2:27 PM

MPC won't cut repo rate anytime soon, not before US Fed, says experts

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) will not revise downwards the repo rate anytime soon and that too not ahead of the US Federal Reserve, said economists. READ MORE

2:17 PM

Paytm rallies 8% to hit over 9-month high on BofA Securities 'Buy' call

The brokerage firm BofA Securities upgraded the stock to 'Buy' on the back of strong revenue momentum and operational leverage, which can surprise on consensus estimates. READ MORE

2:09 PM

ALERT:: Tanla Platforms acquires ValueFirst Digital Media; stock up 1%

Tanla Platforms approved the acquisition of 100% of the paid-up share capital of ValueFirst Digital Media Private Limited (VF Digital India) from the existing

shareholders of VF Digital India for cash consideration of$42 million.

1:58 PM

RBI monetary policy: Repo rate unchanged, what do experts say about it?

Most of the industry experts have taken the announcement positively. READ MORE