Suzlon & Jindal Renewables ink 400 MW captive wind power deal to lead decarbonisation of steel production.
Suzlon & Jindal Renewables ink 400 MW captive wind power deal to lead decarbonisation of steel production.
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Wardwizard Innovations & Mobility sells 1,195 units of electric two-wheelers in September 2024; stock falls 5%
Wardwizard Innovations & Mobility sells 1,195 units of electric two-wheelers in September 2024; stock falls 5%
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Infosys announces expansion of strategic collaboration with Microsoft for generative artificial intelligence (AI).
Infosys announces expansion of strategic collaboration with Microsoft for generative artificial intelligence (AI).
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Expectations on stance change were low, and this was a positive surprise for the market. The RBI MPC probably drew comfort from low inflation readings in past few months and soft core inflation. Though inflation may go higher in next few readings, overall RBI MPC noted overall inflation readings may trend down later. The overall policy was positive for markets with yields down and curve steepening and short term bonds rallied more on change in stance and expected rate cut likely in next policy meet. With induction of Indian FAR G-Secs in FTSE Emerging Market Bond Index, markets are likely to remain buoyant in near term.
Expectations on stance change were low, and this was a positive surprise for the market. The RBI MPC probably drew comfort from low inflation readings in past few months and soft core inflation. Though inflation may go higher in next few readings, overall RBI MPC noted overall inflation readings may trend down later. The overall policy was positive for markets with yields down and curve steepening and short term bonds rallied more on change in stance and expected rate cut likely in next policy meet. With induction of Indian FAR G-Secs in FTSE Emerging Market Bond Index, markets are likely to remain buoyant in near term.
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The actions in the middle east may also create imbalances that will drive rate changes by the RBI. However, growth projections remain strong at over 7% for FY 2025, and with surplus liquidity, there seems to be very few areas of stress. The policy has also improved RTGS/NEFT transfers by allowing banks to show the name of an account holder before a transfer is done, just like in UPI. This will reduce the stress in larger volume transfers.
The actions in the middle east may also create imbalances that will drive rate changes by the RBI. However, growth projections remain strong at over 7% for FY 2025, and with surplus liquidity, there seems to be very few areas of stress. The policy has also improved RTGS/NEFT transfers by allowing banks to show the name of an account holder before a transfer is done, just like in UPI. This will reduce the stress in larger volume transfers.
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The MPC decision to keep rates unchanged aligned with our outlook and expectations. There is no immediate risk to growth, which is positive for the equity markets. While geopolitical tensions could affect inflation through commodity price fluctuations, overall liquidity remains stable, the shift from an accommodative stance to neutral opens up the chances of rate cut in the next MPC meeting in December. This outlook is favourable for equity markets, the next policy meeting will be crucial, with a strong possibility of rate cuts that may bring big changes.
The MPC decision to keep rates unchanged aligned with our outlook and expectations. There is no immediate risk to growth, which is positive for the equity markets. While geopolitical tensions could affect inflation through commodity price fluctuations, overall liquidity remains stable, the shift from an accommodative stance to neutral opens up the chances of rate cut in the next MPC meeting in December. This outlook is favourable for equity markets, the next policy meeting will be crucial, with a strong possibility of rate cuts that may bring big changes.
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MIC Electronics shares rise 3% on receiving work order worth Rs 1.20 cr from Malda Division of the Eastern Railway Zone
MIC Electronics shares rise 3% on receiving work order worth Rs 1.20 cr from Malda Division of the Eastern Railway Zone
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The evolving domestic growth inflation outlook clearly was apt for a change in the monetary policy stance to neutral. While remaining cognizant of emerging risks on the inflation outlook, the neutral stance provides more flexibility to address evolving macro dynamics. From a near term perspective, the policy focus would likely remain attuned to address the skewness in system liquidity and any potential financial stability risks
The evolving domestic growth inflation outlook clearly was apt for a change in the monetary policy stance to neutral. While remaining cognizant of emerging risks on the inflation outlook, the neutral stance provides more flexibility to address evolving macro dynamics. From a near term perspective, the policy focus would likely remain attuned to address the skewness in system liquidity and any potential financial stability risks
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TVS Motor Company partners with Ecofy to transform the landscape of EV 3- wheeler financing in India
TVS Motor Company partners with Ecofy to transform the landscape of EV 3- wheeler financing in India
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We would think that next move is unlikely to be a rate cut, at this juncture, RBI will only keep its options open towards accommodation. The hawkish points emanate from the points around a) Inflation is on a declining path although there is some distance to cover with upside risks from geo-politics and weather while the agricultural outlook is buoyant and positive for food prices. b) RBI keeps its guard on noting that “we have to be very careful of opening the gate and need to keep the horse to a tight leash” and mentioning that RBI cannot be complacent with the rapidly evolving global conditions. The change in stance rather gives greater flexibility and optionality to act in sync with the evolving outlook.
We would think that next move is unlikely to be a rate cut, at this juncture, RBI will only keep its options open towards accommodation. The hawkish points emanate from the points around a) Inflation is on a declining path although there is some distance to cover with upside risks from geo-politics and weather while the agricultural outlook is buoyant and positive for food prices. b) RBI keeps its guard on noting that “we have to be very careful of opening the gate and need to keep the horse to a tight leash” and mentioning that RBI cannot be complacent with the rapidly evolving global conditions. The change in stance rather gives greater flexibility and optionality to act in sync with the evolving outlook.
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Kalpataru Projects International enters into agreement for sale of Vindhyachal Expressway; stock rises
Kalpataru Projects International enters into agreement for sale of Vindhyachal Expressway; stock rises
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As anticipated, the RBI's Monetary Policy Committee (MPC) has kept interest rates unchanged in its policy announcement today. While there were hopes for a rate cut in line with the U.S. Fed, the RBI has taken a prudent approach by focusing on key indicators like domestic inflation and financial stability, particularly in light of the declining individual savings as a percentage of GDP, which poses a financial stability risk. Recent global geopolitical developments have led to a surge in oil prices, which could drive inflation further. This likely influenced the MPC's decision to hold rates steady.
As anticipated, the RBI's Monetary Policy Committee (MPC) has kept interest rates unchanged in its policy announcement today. While there were hopes for a rate cut in line with the U.S. Fed, the RBI has taken a prudent approach by focusing on key indicators like domestic inflation and financial stability, particularly in light of the declining individual savings as a percentage of GDP, which poses a financial stability risk. Recent global geopolitical developments have led to a surge in oil prices, which could drive inflation further. This likely influenced the MPC's decision to hold rates steady.
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