The stock was down 7.55 per cent in trade on Wednesday and ended at Rs 566.45 per share
RBI's monetary policy committee held an off-cycle meeting on Thursday, to discuss the unrelenting inflation and give a response to the govt on it. Why's the RBI is writing to the govt over inflation
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RBI Governor Das said on Wednesday a letter that will be sent to the government will not be made public after the Nov 3 special meeting because the bank does not have the authority to release it
Net absorption could reach an all-time high of 43 million sq ft by 2022-end as businesses open up and consumer demand improves
The special MPC meeting is being held for the first time since the MPC was set up in 2016 because the committee failed to keep retail inflation within the 2-6% target band for 3 consecutive quarters
India's inflation numbers might be better than official data suggests once the massive impact of a government food program is factored in, according to a report released Monday
Having raised policy rates to about 6 per cent, does India's Monetary Policy Committee need to do more? And, if so, is more front-loading warranted?
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The Congress on Saturday accused the Modi government of cheating farmers and said the Minimum Support Price for rabi crops announced by it is even lesser than the rate of inflation. Congress general secretary Randeep Surjewala said even as the BJP dispensation is patting its back for MSPs, it has in fact "duped the farmers" and claimed that their hard labour has got lost in the lights of Diwali. "The Modi government has once again cheated the farmers on the MSPs. The MSP of Annadata farmers' hard work got lost again in the lights of Diwali. The Modi government patted its back by announcing the MSP of rabi crops, but duped the farmer and left them to shed tears of blood," he said in a series of tweets in Hindi. Calling out the BJP for what it called as "fraud with farmers", he said the bitter truth is that the Modi government only announces MSP but does not buy crops on the MSP and demanded that the MSP law granting legal status to MSP is urgently required. "BJP's 'Shakuni Chausar'
The BSE MidCap index fell about 4 per cent in Samvat 2078, while the BSE SmallCap index added 0.4 per cent
"As far as monetary policy is concerned, moderation in the core inflation should be the priority," Shashanka Bhide, an external member of the Reserve Bank of India's monetary policy committee, said
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But cautions that fight against price rise will be 'dogged and prolonged'
He says that the market valuation premium over emerging market (EM) peers is around 70% versus the long-term average of nearly 40%
The fall in the Indian market is far subdued, compared to many global peers that have slipped into bear-market territory
High inflation will keep the markets on edge as they were hoping that the global central banks, especially the US Fed and the RBI will go soft on rate hikes over the next few months
RBI has to manage multiple risks. Economists argue the system has got so used to lower rates and higher liquidity that a sudden tightening could lead to financial market dislocations
Since the start of the Russia-Ukraine war in February, almost all the economies have been facing high inflation mainly driven by high commodity costs, and supply chain constraints