Stock Market LIVE Updates: Indian equity benchmarks Sensex and Nifty50 started Thursday’s session on a positive note, as the RBI’s Monetary Policy Committee decided to keep the key interest rates on hold.
So wherever we are having large amounts of export revenues, we are seeing challenges out there especially on the raw material side…
While this decision had a one-time impact on the revenues and profitability, we are confident that the new model will deliver a significant long-term value for the Company and enables a higher focus on customercentricity,” he said.
He also said that besides this one-off impact, the company’s Q3 performance was muted mainly due to subdued regulated market demand and higher costs.
Variable reverse repo rates have become the main option for managing liquidity, RBI Governor Shaktikanta Das said after the RBI’s MPC decided to continue with the existing key rates and policy stance.
If the index has to turn bearish, it would do so from around these levels.
Prashanth Tapse, Vice President at Mehta Equities, is of the view the Street suspects the RBI to maintain the status quo on the repo rate in the backdrop of inflationary concerns.