The Reserve Bank of India (RBI) has hiked the cash reserve ratio (CRR) by 50 basis points to 8%, joining the government in battling the skyrocketing inflation. The ratio indicates the amount of money banks have to keep with RBI as a percentage of their liabilities (deposits).
The rate hike will be introduced in two stages. In the first stage, RBI will raise CRR by 25 basis points to 7.75% on 26 April 2008. Another 25 basis point hike will come into effect from 10 May 2008.
The unscheduled rate hike comes ahead of RBI's annual credit policy for 2008-09 to be unveiled on 29 April 2008.
As a result of the increase in CRR, about Rs 18,500 crore of' banks resources would be taken out of the system.
The inflation, measured by the wholesale price index (WPI), has shot up to 7.41% in the last week of March 2008 and remained above 7% in the first week of April 2008.
Saturday, April 19, 2008
Friday, April 18, 2008
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Thursday, April 17, 2008
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सेन्सेक्स (16481.20) 237.01 अंक चढ्कर, निफ्टी (4958.40) 71.10 अंक चढ्कर, बंद....
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Our Pri Market call on SAIL is going strong up by 5%, hold for targets,
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Our delivery call of LITL is going strong at Rs465. Traders hold the stock for a revise target of Rs485
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European markets update: FTSE Index up by 0.4%, CAC Index up by 0.6% and DAX Index up by 0.4%
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Buy and Hold Moser Baer for short term delivery for good returns.
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Buy & Hold NDTV for delivery for good returns for short term.
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Buy Bajaj Hind for delivery for good returns.
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Buy TTML at Rs30.70 with SL of Rs27.50 and tgt of Rs36-37 in 2-Days
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Inflation for the week ended April 5 was at 7.14%, against expectation of 7.21%
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Pre Market Ideas !!
Buy SAIL
Buy Chambal Fertilizers
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Nifty: 4887 Sup: 4820 Res: 4970
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Pre Market Intraday Calls !!
Buy Chambal Fert
Buy Nicholas Piramal
Buy GMR Infra
Sell JP Asso
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Wednesday, April 16, 2008
European markets are trading higher with FTSE Index up by 0.5%, DAX Index up by 0.8% and CAC Index up by 0.7%
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Our Buy & hold call of Glenmark is going strong at Rs559, close to target
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