Shares in interest-rate sensitive sectors such as auto, banking and realty will be in focus ahead of the Reserve Bank of India's (RBI) monetary policy decision today, 5 April 2018.
The RBI's two-day Monetary Policy Committee (MPC) meeting began on 4 April 2018 for the first bi-monthly monetary policy for 2018-2019. The resolution of the MPC will be announced at 14:30 IST today, 5 April 2018. As per reports, RBI is likely to keep interest rates unchanged amid a gradual recovery in growth and easing inflation.
In its last meeting on 7 February 2018, RBI decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6%. Consequently, the reverse repo rate under the LAF remains at 5.75%, and the marginal standing facility (MSF) rate and the bank rate at 6.25%.
Smartlink Network Systems said that its board of directors will meet on 7 April 2018 to consider the proposal to buyback the fully paid-up equity shares of the company. The announcement was made after market hours yesterday, 4 April 2018.
ICICI Bank will be watched. With reference to news article titled, 'SFIO awaits ministry nod to investigate ICICI-Videocon case', ICICI Bank clarified after market hours yesterday, 4 April 2018, that it has not received any communication from the Serious Fraud Investigation Office (SFIO) in the above matter.
Bharat Heavy Electricals (Bhel) said it commissioned 330 megawatts (MW) Kishanganga Hydro-Electric Project (HEP) in Jammu & Kashmir (J&K). The first and second units of the project were also recently commissioned in March 2018. Notably, all the three units of Kishanganga HEP have been commissioned within a short span of 18 days. The announcement was made after market hours yesterday, 4 April 2018.
Indoco Remedies announced that its Active Pharmaceutical Ingredient (API) plant at Patalganga has received accreditation renewal from the Japanese Regulatory Authorities. The Accreditation is valid until 21 May 2023. The announcement was made after market hours yesterday, 4 April 2018.
Natco Pharma announced that it is the first company in India to launch a generic version of Teriflunomide, for the treatment of Relapsing and Remitting forms of Multiple Sclerosis (RRMS), under its brand DENOPSY. This is the first oral medicine for RRMS being offered in India at two different strengths- 14 mg & 7 mg tablets. Teriflunomide is sold by Sanofi-Genzyme under brand name of AUBAGIO, in the USA market. DENOPSY is priced attractively and much lower than other alternate options in India. As per WHO 2013 estimates, the number of patients suffering from Multiple Sclerosis in India is 5-20 per 1 lakh population. The announcement was made after market hours yesterday, 4 April 2018.
Himachal Futuristic Communications (HFCL) announced its entry into defence manufacturing in 2016, to participate in the Government's Make in India initiative. Since then, the company has obtained several industrial licences for manufacturing defence products such as electronic fuses, electro optical devices, UAVs, radars, electronic warfare and communication equipment. The company said it is collaborating with leading global Original Equipment Manufacturers (OEMs) to indigenously manufacture the above mentioned equipment. The announcement was made after market hours yesterday, 4 April 2018.
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