The Reserve Bank of India (RBI) may take cues from its global counterparts, including the US Federal Reserve, to raise interest rate for the fourth time in a row on Friday to tame stubborn inflation.
The RBI, which has since May raised the short-term lending rate (repo) by 140 basis points (bps), may again go for a 50-bps increase to take it to a three-year high of 5.9 per cent, say experts.
The central bank had raised the repo rate by 40 bps in May and 50 bps each in June and August. The present rate is 5.4 per cent. The consumer price index (CPI) based retail inflation, which had started showing signs of moderation since May, has again firmed up to 7 per cent in August. The RBI takes into account retail inflation while framing its bi-monthly monetary policy.
The RBI Governor-headed Monetary Policy Committee (MPC) is scheduled to start its three-day deliberations on Wednesday. The decision of the rate-setting panel would be announced on Friday (September 30). The US Fed delivered third consecutive rate hike after it raised the rates by 75 bps to take the target range to 3 - 3.25 per cent. The central banks of the UK and the EU have also gone for rate hikes to tame inflation.
Hindustan Unilever (HUL) added Rs 35,467.08 crore, taking its valuation to Rs 6,29,525.99 crore. ITC's valuation jumped Rs 20,381.61 crore to Rs 4,29,198.61 crore and that of Bajaj Finance climbed Rs 13,128.73 crore to Rs 4,54,477.56 crore.
Reliance Industries retained its top spot in the list of the most valued Indian firms, followed by TCS, HDFC Bank, HUL, ICICI Bank, Infosys, SBI, Bajaj Finance, Adani Transmission and ITC
The RBI, which has since May raised the short-term lending rate (repo) by 140 basis points (bps), may again go for a 50-bps increase to take it to a three-year high of 5.9 per cent, say experts.
The central bank had raised the repo rate by 40 bps in May and 50 bps each in June and August. The present rate is 5.4 per cent. The consumer price index (CPI) based retail inflation, which had started showing signs of moderation since May, has again firmed up to 7 per cent in August. The RBI takes into account retail inflation while framing its bi-monthly monetary policy.
The RBI Governor-headed Monetary Policy Committee (MPC) is scheduled to start its three-day deliberations on Wednesday. The decision of the rate-setting panel would be announced on Friday (September 30). The US Fed delivered third consecutive rate hike after it raised the rates by 75 bps to take the target range to 3 - 3.25 per cent. The central banks of the UK and the EU have also gone for rate hikes to tame inflation.
Hindustan Unilever (HUL) added Rs 35,467.08 crore, taking its valuation to Rs 6,29,525.99 crore. ITC's valuation jumped Rs 20,381.61 crore to Rs 4,29,198.61 crore and that of Bajaj Finance climbed Rs 13,128.73 crore to Rs 4,54,477.56 crore.
Reliance Industries retained its top spot in the list of the most valued Indian firms, followed by TCS, HDFC Bank, HUL, ICICI Bank, Infosys, SBI, Bajaj Finance, Adani Transmission and ITC
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