Moneycontrol Daily: Your Essential 7

After nine months of relentless selling, foreign portfolio investors (FPIs) have finally turned net buyers this July. That said, the FPIs’ sectoral allocation – largely in FMCG and telecom – shows that they are still treading cautiously. Sriram Velayudhan, VP - Alternative Research at IIFL, helps us decode their investment action. Read here.

Today

Polls to elect Vice President of India
IIT-B students to go on hunger strike to protest against fee hike
Q1 Earnings scheduled: SBI, Amara Raja Batteries, Marico

Tomorrow

NITI Aayog's Governing Council meeting
Akasa Air to start operations
ISRO to launch SSLV
Javelin Throw Day in India to honour Neeraj Chopra
Royal Enfield Hunter 350 to launch

A 50 basis point (bp) hike in repo rate shows the singular focus on inflation of the monetary policy committee (MPC). With this, the MPC has hiked the repo rate - at which the RBI lends short term funds to banks - by a total of 140 bps in the current rate hike cycle. The key takeaway from Shaktikanta Das's speech is that high inflation could destablise the economy. Also, the emphasis on the withdrawal of accommodative policies. So, what's next? Read here to know more.

Individual borrowers are set to feel the heat of higher interest rates, with Reserve Bank of India announcing a 50-basis point hike in repo rate on August 5. All floating-rate retail loans sanctioned by banks after October 1, 2019 are linked to an external benchmark, which is the repo rate in most cases. The latest round of hike will be fully passed on to retail borrowers in the days to come. The effect of the repo rate hike would be felt across all categories of loans, both secured and unsecured. Read here.

India’s top mutual fund managers, managing assets worth over $250 billion, met founders and top management officials of some of the country’s largest unicorns such as Swiggy, Unacademy, and Meesho among others in Bengaluru, earlier this week, according to people aware of the matter. The meeting comes at a time when many unicorns, over the last two years, had openly talked about getting publicly listed in the medium term. Read here to know more.

August 2022 seems to be the sweetest month for the two-wheeler industry. Starting with the highly-anticipated Royal Enfield Hunter 350 and going up to the Ducati Panigale V4 and the Streetfighter V2, over 15 new launches are scheduled to be launched. A cavalcade of new motorcycles will thump onto India’s streets this month in pics here.

Oppo recently dropped a new smartphone in its Reno 8 series. The Oppo Reno 8Z has officially been unveiled in Thailand. The Reno 8Z is the fourth smartphone in the Reno 8 series, following the Reno 8, Reno 8 Pro, and Reno 8 Pro+. Let’s take a look at the phone’s specifications, features, pricing in detail.