Daily Archives: Wednesday August 2nd, 2017

52 Week High Breakout (02/08/2017)

WhatsApp Image 2017-07-31 at 6.11.11 PM
JINDWORLD 799.30
NAVINFLUOR 742.05
EICHERMOT 31504.80
GOCLCORP 493.00
RKFORGE 563.70
VOLTAS 533.65
AVANTIFEED 1702.25
NOCIL 147.70
JINDALSAW 105.50
ADANIPORTS 404.00
GABRIEL 166.65
MARUTI 7856.10
INDUSINDBK 1665.70
HINDALCO 225.75
IBULHSGFIN 1225.20
JSWSTEEL 223.15
ASHOKLEY 111.05
WIPRO 294.80
JAYAGROGN 534.20
STAN 64.55
MOTHERSUMI 329.50
POWERGRID 224.40
TATASTEEL 572.40

Reserve Bank cuts rates by 0.25 percent

Rbinote

MSF rate also decreased, debt waiver estimates to increase fiscal deficit
Before the festive season, the loan will be cheap

Mumbai- The Reserve Bank of India has finally cut interest rates according to expectations. On Wednesday, the Reserve Bank had voted for a 0.25 percent reduction in the repo rate in MPC and it was approved. In this way, the prospect of getting auto and housing loans in advance has already increased before the festive season.

The repo rate has come down to 6 per cent after the Reserve Bank cut 0.25 per cent on Wednesday. The reverse repo rate has also dropped 0.25 percent to 5.75 percent. However, the central bank has not made any changes to the cash reserve ratio (CRR) and it remains at 4% as before. Instead, the MSF rate, the bank rate has been reduced from 6.5% to 6.25%.

After the announcement of rate cut on Wednesday, the Reserve Bank said that its GVA estimate for the fiscal year 2018 remains at 7.3 percent. The central bank estimates that retail inflation may remain around 4 per cent. In the 18-24 months, retail inflation may increase one per cent. Once again, the central bank has expressed the estimate of the financial losses due to debt waiver.

The central bank says that normal monsoon and supplies have an impact on food inflation. At the same time, the Reserve Bank also believes that it is necessary to promote affordable housing scheme and to overcome the difficulties of infrastructure. According to the Reserve Bank, there is no problem in implementing the Goods and Services Tax (GST).

MPC member Viral Acharya said that the supply of money is getting normal, although liquidity is still high. Governor Urjit Patel said that inflation is expected to increase in the rest of this year and it has been considered neutral. Projects are still halted by the private sector slow investment in capital, while industrial performance has been weak during April-May 2017.

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