Budget 2023 had allocated Rs 30,000 crore for capital support to state-run Oil Marketing Companies (OMCs) like BPCL, IOCL and HPCL. On July 7, the board of IOC also approved a capital raise via a rights issue not exceeding Rs 22,000 crores.
The Reserve Bank of India will hold its bi-monthly policy meet today. Experts expect 25 basis point (bps) cut. But, probability of a 50 bps cut cannot be ruled out, says Vivek Rajpal, Rate strategist at Nomura India.
Given the current context where we are grappled with high inflation for the past three years and continue to grapple atleast on the retail side, I think yes there is no other choice but to be hawkish and try and bring down inflation expectations.
In an interview to CNBC-TV18, Dhawal Dalal, DSP BlackRock and A Prasanna, chief economist of I-Sec, speak about the bond market and give their outlook going forward.
The TRAI has recommended it will restrict the number of minutes of advertising time that all channels can carry to 12 minutes an hour. Vikash Mantri of I-Sec tells CNBC-TV18 that broadcasters might find it difficult to compensate via higher rates versus lower volumes.
Mahindra Satyam and Tech Mahindra will merge soon. In an interview to CNBC-TV18, Kuldeep Koul, IT analyst at I-Sec says, the swap ratio is broadly inline with expectations. The swap ratio is marginally in favour of Tech Mahindra.
Vikash Mantri, Media Analyst at I-Sec in an interview to CNBC-TV18 said that the revised guidelines for owning news and non news channel are still not very clear so it would be difficult to quantify its impact on media stocks.
The Reserve Bank of India has hike policy rates for 12 consecutive times. Banks too transmitted such hikes to their customers. Such repeated rate hikes, however, have raised concern on banks’ asset quality as borrowers tend to default on repayments.
Bharat Heavy Electricals (BHEL) touched an intraday high of Rs 1,991.80 and an intraday low of Rs 1,964. At 10:06 hrs the share was quoting at Rs 1,967.80, down Rs 10.25, or 0.52%.