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Dalal Street ended higher on Friday, and posted a highest ever 3.5% weekly gain. The equity benchmarks resumed their upward trend as the Reserve Bank of India (RBI) left the key interest rate unchanged for the fifth time in a row.
The Reserve Bank of India kept the repo rate unchanged at 6.5 percent, citing a potential resurgence in inflation and signalling that price stability remained its primary objective.
The central bank raised its GDP growth forecast for 2023-24 by a huge 50 basis points to 7 percent following the big upside surprise in the July-September data.
In broader markets, The BSE midcap index ended marginally lower and the smallcap index closed 0.4 percent down.
The Indian rupee up by 2 paise to 83.43 against the US dollar on Friday.
Stock in News Today
IRB Infra: The company shares gained 3.64 percent after the company reported a 20 percent rise in gross toll collections in November The company clocked in toll collections worth Rs 437.05 crore in November as against Rs 366 crore in the year-ago period. The stock also hit a 52-week high in the exchanges.
TVS Electronics: Shares slipped 1.15 percent after the company received a Rs 35.58 crore notice from the Chennai customs department over the import of thermal line printers.
Maruti Suzuki: Shares went down 0.63 percent even after the company received a favourable order from the Gujarat GST Department, dropping the demand of Rs 17.87 million (Rs 1.78 crore).
Jindal Saw: Shares plunged 3.76 percent on December 8, ahead of the company’s board meeting on December 14 to consider the proposal of raising funds through one or more qualified institutional placement (QIP) of equity shares.
IIFL Securities: Shares gained sharply to 4.2 percent after the Securities Appellate Tribunal (SAT) set aside SEBI’s order dated June 19, 2023, prohibiting IIFL Securities from onboarding new clients for two years in respect of its business as a stockbroker.
Titagarh Rail Systems: Stock gained 1.95 percent after the company launched a qualified institutional placement (QIP) to raise Rs 700 crore.
HDFC Bank: Shares of HDFC Bank gained 1.38 percent along with other banking names after the RBI held repo rates steady at 6.5 percent for the fifth consecutive time.