In its meeting held today, the Monetary Policy Committee (MPC) made several key decisions based on its assessment of the current and evolving macroeconomic situation. The committee opted to maintain the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50%. Additionally, the standing deposit facility (SDF) rate remains unchanged at 6.2%, while …
Gaming platform Mobile Premier League will lay off 350 employees as it takes steps to “survive” the 28% GST imposed on online gaming companies, according to an internal company mail on Tuesday. Last week, Finance Minister Nirmala Sitharaman said the decision will be reviewed after 6 months of its implementation or April 2024 by the …
Morgan Stanley, a leading brokerage firm, has raised its rating for India to “overweight.” They are optimistic about the country’s potential for a long-term economic boom. This upgrade comes as India’s relative valuations appear to be less extreme compared to the situation in October. Additionally, the firm sees promising prospects for increased capital expenditure and …
According to Kantar Worldpanel’s inaugural study on the cosmetics category in India, over the past six months, the top 10 Indian cities witnessed the sale of more than 100 million cosmetic items, such as lipstick, nail polish, and eyeliner. Consumers collectively spent over Rs 5,000 crore on these beauty products, with 40% of them opting …
Today, Birlasoft Limited in collaboration with Microsoft the company has set up a Generative AI Centre of Excellence in Noida, Pune, and Edison, NJ (USA). This strategic initiative is focused on accelerating value creation and fostering innovation in the adoption of Generative AI to deliver cutting-edge enterprise solutions across various industries. The centre will leverage …
On Tuesday, the NSE announced that the market regulator SEBI, in collaboration with NSE and BSE, has updated the surveillance actions within the Enhanced Surveillance Measures (ESM) framework. Previously, stocks categorized under ESM Stage II were allowed to trade once a week. However, the new revision allows these stocks to be traded on all trading …
The National Stock Exchange on Wednesday made an announcement regarding a modification in the expiry days for Nifty Bank options and Nifty Midcap Select Index futures and options. Nifty Bank weekly index options will undergo a change in their expiry day, transitioning from Thursday to Wednesday commencing from September 4. The initial Wednesday weekly expiry …
This week, Bajaj Auto Unveiled its Triumph Speed 400 and Scrambler 400X motorcycles in India. Triumph Motorcycles has experienced an astounding response among Indian motorcycle enthusiasts, achieving an extraordinary milestone of 10,000 bookings in a mere 10 days following the global unveiling. The much-awaited Speed 400 and Scrambler 400 models, which were first showcased in …
The Reserve Bank of India conducted stress tests to evaluate the ability of scheduled commercial banks (SCBs) to withstand macroeconomic shocks. The results indicate that the banks are adequately capitalized and possess the capacity to absorb such shocks for one year, even without requiring additional capital infusion. Based on the stress test results published in …
The Indian Rupee outperformed the other emerging market currencies, exhibiting a significant decrease in expected volatility during June. When investors look to profit off the interest rate differentials between two currencies, volatility becomes the crucial factor to take into account. Despite the fluctuation in the value of the dollar over the past month, the Indian …
