In the last review in April , all six members of the MPC had voted in favour of a status quo on the repo rate. The MPC is likely to highlight the need to evaluate the impact of existing rate hikes on inflation and aggregate demand as a justification to keep rates unchanged, as per Barclays
The Supreme Court’s hearing on the Delhi government’s plea challenging the high court order on Rapido will be taken up today by a vacation bench. The HC had stayed Delhi government’s notice to bike-taxi aggregator Rapido thus allowing Rapido bikes to ply till notification of the final policy
“The domestic market experienced profit-booking due to selling pressure in the IT sector. IT stocks witnessed a decline in anticipation of further downward revision in spending. However, a rally in auto and banks helped to recover the losses on Monday. Going ahead an important influencer will be the commentary on growth and inflation forecasts by the RBI following its MPC meeting, given the general consensus that rate pause will continue,” said Vinod Nair, Head of Research at Geojit Financial Services
“Indian equities are facing a struggle at higher levels. FIIs too have been sellers for the past 3 days, thus capping the upside. With the RBI policy outcome now nearing, we expect market to remain cautious in the near term with action shifting to interest-sensitive sectors,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Sonalis Consumer Products Ltd IPO is set to open for public subscription today (June 7) and will close on June 9. The Rs 2.83 crore-worth SME IPO is a fixed price issue with shares being offered at Rs 30 per share. Sonalis Consumer Products IPO GMP has indicated that the listing could be at a discounted rate.
“Comex spot gold is likely to find buyers in the range of $1945/$1933 per ounce and while $1975/$1994 per ounce is the resistance for the day. MCX Gold August future likely to find support at Rs 59540 per 10 gram and resistance at Rs 60380 per 10 grams,” said Saumil Gandhi, Senior Analyst- Commodities, HDFC Securities
Maruti Suzuki will announce the price for the much-awaited SUV Jimny in India today (June 7). The Jimny will be available in two trims Zeta and Alpha. The expected price of Maruti Jimny could be between Rs 11 lakh to Rs 15 lakh (ex-showroom). Maruti Jimny SUV’s rivals will include cars like Mahindra Thar and Force Gurka
Rohit Sharma led-Team India will be up against Pat Cummins-led Australia in the World Test Champions (WTC) Final for the 2021-23 cycle. The 5-day Test tournament is set to begin at the Oval stadium in London today (June 7) and will go on till June 11. The match will start at 3 pm IST on all days. The WTC Final matches can be live streamed on Disney+Hotstar while the live broadcast will be on Star Sports Network
Public sector OMCs including BPCL, IOCL and HPCL revise their petrol price and diesel price daily in line with international benchmark prices and forex rates. Petrol and diesel prices today remained stable
The IMD forecast stated that a low-pressure area is expected to form, leading to light drizzles over Mumbai today (June 7). In case the low-pressure area intensifies into a cyclonic storm, it will be referred to as Cyclone Biparjoy, a name given by Bangladesh