Expect rate hike in RBI meeting on September 16: CLSA

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Here is expert equity call for the day on how the markets are expected to trade:

N Krishnan, CLSA: All eyes are on the RBI's policy scheduled on September 16 and we expect a rate hike at that meeting. RBI's upcoming review is a new schedule of mid-quarter reviews that has been adopted and one welcome outcome of this move towards more frequent policy reviews will be that unscheduled moves by the RBI will decline significantly, as it'll have a chance to take scheduled action approximately every six weeks instead of every quarter previously. IIP data & inflation are going to be important in fine-tuning any potential action by the RBI.