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In its second surprise rate cut within two months, RBI today slashed benchmark interest rates by 0.25 per cent, a move that may bring down EMIs for home, auto and other loans and give a boost to the economy. The RBI's decision to cut its policy or repo rate to 7.5 per cent -- after another cut from 8 per cent to 7.75 per cent on January 15 -- is also expected to lower the cost of capital for the ...
Chennai, March 4 (IANS) The Reserve Bank of India' (RBI) decision on Wednesday to cut its lending rates was a minor reduction and not enough to stimulate consumer demand for loans, a senior official of car-maker General Motors India said. "The minor rate cut is just not enough to stimulate consumer demand for loans and improve the market conditions in the near term," P. Balendran, vice president ...
From: Trustable Gold ...
Singapore: Gold took a breather on Wednesday after a two-day losing streak but was hovering near its lowest in a week as the dollar held close to 11-year highs, with investors awaiting US economic data and a European Central Bank meeting. Fundamentals * Spot gold was little changed at $1204.55 an ounce by 0035 GMT. In the previous session, the metal fell to a one-week low of $1194.90, before ...
By Suvashree Choudhury and Devidutta Tripathy MUMBAI (Reuters) - Banks hinted they could cut lending rates as early as next month, after a second interest rate cut in two months heaped pressure on lenders that have largely kept rates unchanged, citing weak credit demand and a lack of liquidity. On Wednesday, the Reserve Bank of India lowered its policy repo rate by 25 basis points to 7.50 percent. ...
MUMBAI (Reuters) - The BSE Sensex and Nifty fell on Wednesday, retreating from record highs hit earlier in the session, as the initial surge after an unexpected rate cut by the Reserve Bank of India (RBI) was offset by profit-taking and on speculation foreign investors sold blue-chips. Falls also tracked lower Asian shares as investors grew cautious before upcoming central bank meetings and U.S. ...
The RBI warned on Wednesday against a stronger rupee, even as it helps ease inflationary pressures."The rupee has remained strong relative to peer countries. While an excessively strong rupee is undesirable, it too creates disinflationary impulses," RBI Governor Raghuram Rajan said in a statement.The rupee's mention comes as part of RBI's statement cutting rates unexpectedly.However, Rajan reiterated ...
Mumbai: India's largest mortgage lender State Bank of India (SBI) will decide on reducing its interest rates on the basis of emerging circumstances, its chairman said on Wednesday.Welcoming the Reserve Bank of India (RBI) decision to cut its key lending rates by 25 basis points (0.25%), SBI chairman Arundhati Bhattacharya said: "Our bank will take an appropriate call of a cut in base rate by looking ...

Today's picks

2013-02-19 18:00:00

NIFT Current: 5,898 (futures: 5,906) Target: NA Index remains range-bound between 5,870 and 5,925 with very nominal futures premium. The range today could be 5,850 or 5,950. Stop-loss shorts at 5,925 and stop-loss long positions at 5,975. A long 5,800p (19) and long 6,000c (21) could gain 10-12 if the market swings 50 points in either direction. STATE BANK OF INDIA Current price: Rs 2,263 Target price: ...

Today's picks

2013-02-09 18:00:00

NIFTY Current: 5,939 (futures: 5,964);Target: NAThe downtrend continued. Key support was tested at 5,930. A drop below 5,920 could mean a dip till 5,875. A bounce will hit resistance at 5,975-5,990. Futures premium has increased to 25, which may mean a pullback on short-covering. The bearspread of long 5,900p (48) versus short 5,800p (23) continues to look attractive.TATA STEEL Current price: Rs 390;Target ...
MUMBAI, March 4 (Reuters) - Indian shares fell on Wednesday, retreating from record highs hit earlier in the session, as the initial surge after an unexpected rate cut by the central bank was offset by profit-taking and on speculation foreign investors sold blue-chips. Falls also tracked lower Asian shares as investors grew cautious before upcoming central bank meetings and U.S. jobs data. The ...
By Lionel Laurent LONDON (Reuters) - Global equities pulled back from recent record highs on Wednesday, with investors turning cautious after underwhelming euro zone PMI data and ahead of central bank meetings. U.S. jobs data due Friday was also on investors' minds, with the dollar index hitting an 11 1/2-year high, while the euro crashed through support levels that have held for more than a month. ...
By Suvashree Choudhury and Devidutta Tripathy MUMBAI (Reuters) - Banks hinted they could cut lending rates as early as next month, after a second interest rate cut in two months heaped pressure on lenders that have largely kept rates unchanged, citing weak credit demand and a lack of liquidity. On Wednesday, the Reserve Bank of India lowered its policy repo rate by 25 basis points to 7.50 percent. ...
MUMBAI, March 4 (Reuters) - Indian shares fell on Wednesday, retreating from record highs hit earlier in the session, as the initial surge after an unexpected rate cut by the central bank was offset by profit-taking and on speculation foreign investors sold blue-chips. Falls also tracked lower Asian shares as investors grew cautious before upcoming central bank meetings and U.S. jobs data. The ...
STOCKHOLM (Reuters) - Truck maker Volvo said on Wednesday it had sold 1.27 million shares in Indian auto firm Eicher Motors for around 2.5 billion Swedish crowns ($301.59 million) and would plow the proceeds into boosting its core business. Sweden's Volvo is under pressure to demonstrate the benefits of years of cost cuts and has in addition to major staff cuts also sold off non-core assets in recent ...
By Chang-Ran Kim TOKYO (Reuters) - Toyota Motor Corp on Wednesday promoted more foreigners to senior posts, including the first woman and first African-American to hold executive titles, diversifying a management team long dominated by Japanese men. The world's biggest automaker appointed Europe chief Didier Leroy to become one of six executive vice presidents (EVP) effective after the company's ...
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