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FIIs Concerns Reflect India Inc’s Worries: Advent Advisors

FIIs Concerns Reflect India Inc’s Worries: Advent Advisors

July 30: Corporate India was hoping for a rate cut in order to revive the investment cycle, but what lies ahead for India Inc as RBI tightens liquidity to rescue the rupee? Advent Advisors’ K.R. Bharat says the RBI unable to single-handedly revive investment cycle. Bank of Baroda’s P. Srinivas and Mecklai Financial Services’ Partha Bhattacharyya also share their views on the rate outlook.

Bankers Take On RBI Policy

Bankers Take On RBI Policy

July 30: In its monetary policy meeting today, the RBI kept repo rates and CRR unchanged and cut the GDP growth forecast to 5.5% from 5.7%. Top bankers, including Punjab National Bank’s K.R. Kamath, ICICI Bank’s Chanda Kochhar and SBI’s Pratip Chaudhuri share their views on the decision.

RBI Battling ‘Impossible Trinity Trilemma’

RBI Battling ‘Impossible Trinity Trilemma’

July 30: RBI Governor D. Subbarao says there were two considerations behind today’s policy decision: external sector developments and the balance between slowing growth and inflation risks. The growth forecast downgrade was based on underperforming industry and services sectors though the agricultural sector is gaining on the back of a good monsoon, he adds.

Volatility In Rupee Hurtful: D. Subbarao

Volatility In Rupee Hurtful: D. Subbarao

July 30: RBI Governor D. Subbarao speaks about the central bank’s expectations for the currency. “We remain committed to curbing volatility in the foreign exchange rate,” he says, adding that the RBI is not targeting any level for the rupee. However, he refused to comment on the possibility of more tightening measures.

Rationale For Liquidity Tightening Measures

Rationale For Liquidity Tightening Measures

July 30: RBI Governor D. Subbarao explains the rationale behind the central bank’s liquidity tightening measures. “The idea was making liquidity scarcer and more costly, so modulating access to LAF was the most efficient way to curb rupee volatility,” he says. He also spoke about the impact on banks and the possibility of their raising rates.

RBI Has Enough Arsenal To Control Exchange Rate: D. Subbarao

RBI Has Enough Arsenal To Control Exchange Rate: D. Subbarao

July 30: RBI Governor D. Subbarao refuses to comment on the timing and kind of measures likely should the rupee worsen further. “We need to diagnose and prescribe dosage depending on the situation at hand,” he says. Subbarao also speaks about structural measures to contain instead of just financing the current account deficit.

Risks To Growth Have Increased: RBI

Risks To Growth Have Increased: RBI

July 30: While keeping repo rates and CRR unchanged, the RBI says it will withdraw tightening as rupee steadies. The central bank is worried about the macroeconomic situation, says Ajay Mahajan, Managing Partner at R-Square Advisors. “The need to help rupee shows RBI is in an ‘impossible trinity trilemma’,” he adds.

Unlikely RBI Steps Will Be Rolled Back: Siddhartha Roy

Unlikely RBI Steps Will Be Rolled Back: Siddhartha Roy

July 30: The RBI policy announcement spurred a market reversal as bonds yields rose, equity markets erased gains and rupee weakened. Axis Bank’s Saugata Bhattacharya says markets have taken into account future moves. Meanwhile, Tata Group’s Siddhartha Roy says, “If we cannot expect anything much from the future, it’s unlikely RBI will roll back its measures.”

RBI Keeps Repo Rates On Hold

RBI Keeps Repo Rates On Hold

July 30: As indicated by the Bloomberg poll, the Reserve Bank of India has kept rates unchanged in its policy meeting today. Axis Bank’s Saugata Bhattacharya says, “If the rupee stays at the same levels for a month there is a chance the RBI will roll back tightening.”

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Global Markets

 

Stocks In News

 

INDIAN OIL CORPORATION

Board to consider bonus issue on Jan. 30.

HPCL, MRPL

HPCL may acquire MRPL in cash and share swap deal

HPCL may buyout ONGC shares which is worth roughly Rs 16,000 Cr

Financial Express Reports

KALPTARU POWER

Gets four orders worth Rs 871 Cr

Order Details

Gets Rs 282 Cr order from APTRANSCO to supply, construct substations

To also set up associated transmission line work for APTRANSCO

Gets Rs 100-cr order from Bangladesh power co, Nepal’s electricity body

Order includes 400 KV double circuit transmission line from Bangladesh

Nepal order includes setting up of 132 KV Transmission Line 

Gets Rs 123 Cr order from CORE to commission rail electrification work

Gets pipeline augmentation work in Rajasthan for Rs 366 Cr from a pvt client

 

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