Home Blogs India Inc cheers RBI move
Featured Stories

India Inc cheers RBI move

India Inc cheers RBI move
Reading Time: 1 minutes

Rate cut could refuel economic growth

Last week, the Reserve Bank of India’s monetary policy committee (MPC) slashed policy rates, for the fifth time in a row, by 25 basis points to 5.15%. MPC also decided to continue with an accommodative stance as long as it is necessary to revive growth while ensuring that inflation remains within the target. 

India Inc is confident that the move will revive investment and encourage consumption. CII Director General Chandrajit Banerjee said that the cumulative 135 bps rate cuts this year along with a slew of measures announced by the government to provide growth stimulus to a variety of sectors is expected to lift growth from its current stupor and unleash animal spirits. 

Surendra Hiranandani, CMD of House of Hiranandani as well as Anarock Chairman, Anuj Puri said that the move will incentivise investment and boost consumption.  

A senior officer associated with CREDAI said that rate reduction coupled with the upcoming festive season and reduction in corporate tax will provide a fillip to the housing demand. JLL India CEO & Country Head Ramesh Nair said that the real estate sector is likely to witness accelerated sales owing to favourable policy reforms and the gradual transmission of rate cuts to end-consumers through lowering of mortgage rates.

Realty Tracker and The Great Indian Middle Class smallcase are expected to benefit due to rate cut.

The Realty Tracker smallcase comprises real estate companies to allow investors to efficiently track and invest in the realty sector.

The Great Indian Middle Class includes companies that are expected to benefit from the boost in consumption resulting from growth in the Indian middle class.

Markets Update

Shrugging off concerns about weak economic growth, benchmark indices closed in the green this week. Nifty closed up 1.17% at 11,305.05 and Sensex closed up 1.20% at 38,127.10.

India’s industrial production fell 1.1% year-on-year in August 2019, missing market expectations of a 1.8% rise. It was the sharpest decline in industrial output since February 2013.

You may want to read

image Fintech Firsts: India’s Newest Milestones
Reading Time: 4 minutes
New innovations brewing in the fintech sector include credit on UPI, cardless cash withdrawals, and e-rupee. All of us, as consumers and investors, should definitely keep an eye on these technologies as they can have a significant impact on the BFSI sector.
image G20 Success: Sectors & Stocks in the Spotlight
Reading Time: 3 minutes
Last week, India was buzzing with excitement thanks to the G20 summit, and this enthusiasm spilt over to the stock market. The Nifty achieved the remarkable milestone of 20,000 mark for the very first time. One of the reasons for this was the G20 summit announcements which grabbed the interest of both domestic and foreign investors. So, let’s unpack what exactly happened at the G20 summit and how can it affect the stock market. 
image The Box Office Bull Run
Reading Time: 3 minutes
This week, we’re talking about the revival of the magic of movies as 2023 is proving to be a comeback year for the industry

Your email address will not be published. Required fields are marked *

India Inc cheers RBI move
Share:
Share via Whatsapp