Feb 06, 2020 02:45 PM IST | Source: Moneycontrol.com
All the sectoral indices are trading in the green. BSE Midcap and Smallcap indices gained 0.5 percent.
February 06, 2020 03:01 PM IST
GE T&D bags order from Power Grid: GE T&D India has been awarded a contract by the Power Grid Corporation of India for constructing 765-kiloVolt (kV) Gas-Insulated Substation (GIS) bays at Phagi in the Jaipur district of Rajasthan.
February 06, 2020 02:39 PM IST
Adani Green and TOTAL enter into binding arrangement: Adani Green Energy and Total Gas & Power Business Services SAS have entered into a binding arrangement for investment of approximately USD 510 million for acquisition of 50% stake and other instruments in a Joint Venture Company (JVCo) which will house 2,148 MWac operating solar projects presently 100% owned by Adani Green.
February 06, 2020 02:23 PM IST
Advanced Enzyme Technologies Q3 result: Consolidated net profit rose 37.5% at Rs 33.6 crore versus Rs 24.4 crore and revenue was up 10% at Rs 112 crore versus Rs 102 crore, YoY.
February 06, 2020 02:19 PM IST
Acuite Ratings reaffirmed rating of Nxtdigital: Acuite Ratings and Research has reaffirmed the long-term rating of ‘ACUITE A+’ on Rs 100 crore buyer’s credit and Rs 220 crore term loan of the company. The outlook is ‘Stable’.
February 06, 2020 02:04 PM IST
Market Update: Benchmark indices erased most of its gains but trading higher with Nifty holding above 12,100 level.
The Sensex is up 96.70 points or 0.24% at 41239.36, and the Nifty up 26 points or 0.22% at 12115.20. About 1280 shares have advanced, 940 shares declined, and 126 shares are unchanged.
February 06, 2020 01:52 PM IST
Among the sectors, Nifty PSU Bank spiked over 3 percent led by Bank of Baroda, Canara Bank, State Bank of India and Punjab National Bank which jumped 3-4 percent.
February 06, 2020 01:47 PM IST
Shishir Baijal, Chairman & Managing Director, Knight Frank India: We are delighted with the MPC stance that has taken note of the concerns of the real estate sector making significant announcements today. With the lower provisioning requirement for retail loans extended to housing segment, we hope that the new measure will translate into lower cost of loans for home buyers as well. The encouragement also comes to the development side of the business where the long – standing industry demand for asset classification has been addressed. This will augment liquidity situation for developers too. With these two significant initiatives by the RBI, the real estate sector will hope to make a faster come back.
February 06, 2020 01:46 PM IST
Suvodeep Rakshit, Senior Economist, Kotak Institutional Equities: Even as the RBI kept repo rate unchanged at 5.15 percent, the implementation of the revised liquidity framework as well as the start of Long Term Repo Operations (LTROs) of Rs1,00,000 crore for 1-year and 3-year tenors would lead to softening of market rates. RBI revised up its inflation projections with inflation reverting back to the 4 percent mark only in Q3FY21. This possibly precludes any policy rate reduction in the near term. However, greater clarity on comfortable liquidity conditions persisting over the medium to long term will aid in transmission as well as lower cost at the shorter end of the curve.
With favorable impact on market interest rates and borrowing costs, the RBI’s announcement of lower CRR maintenance through reduction in NDTL calculation to the extent of incremental retail lending for automobiles, residential housing, and MSMEs could be positive for credit flow in the medium term. Overall, the RBI has delivered positively towards growth and credit without deviating from the inflation targeting framework. Evolution of borrowing costs as well as credit flows need to be carefully watched.