Wednesday, October 07
Mumbai: The Reserve Bank of India on Monday said it will discontinue the daily variable rate repo (VRR) auctions – a window that allows banks to borrow from the central bank daily – from June 11, considering surplus liquidity in the banking system. The RBI had introduced daily VRR auctions on January 16 to support banks against the liquidity deficit seen in the system then. The system has had a daily average surplus liquidity of Rs 2.75 lakh crore so far in June, taking system liquidity above 1% of net demand and time liabilities (NDTL). Liquidity has been in surplus since late March.“Given the surplus – above 1% of NDTL – the need to do additional liquidity injection is not there,” said Sakshi Gupta, principal economist at HDFC Bank.Additionally, yields on benchmark paper rose
Union Commerce and Industry Minister Piyush Goyal on Tuesday highlighted India's remarkable economic performance, stating that the country has surged from a USD 270 billion economy to USD 4 trillion in just three decades.Addressing the Swissmem Industry Day in Switzerland, Goyal said India aspires to be a USD 30-35 trillion economy by the time the country marks 100 years of independence.He said this provides "largest ever economic opportunity in the world"."I bring a story of a country that in the last 30 years has grown from a 270 billion dollar economy to a 4 trillion dollar economy today. As we work towards celebrating India's 100 years of independence, it aspires to grow from a 4 trillion dollar economy to a 30-35 trillion dollar economy," the Minister said."That's the largest ever eco
Protean eGov Technologies shares surged 6% to their intraday high of Rs 1,009 on the BSE on Tuesday, June 10, after the company announced it has secured a strategic work order valued at approximately Rs 100 crore from the Bima Sugam India Federation (BSIF).“Pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform you that Protean eGov Technologies Limited (‘the Company’) has been awarded a prestigious and strategically significant work order valued at approximately Rs 100 crore, on June 9, 2025, by the Bima Sugam India Federation (BSIF) through the RFP process,” the company disclosed in a filing to the stock exchanges.The contract was awarded on June 9, 2025, following a compe
After Delhi baked under extreme heat on Monday, the real-feel temperature, or heat index, soared to a searing 48.9°C, prompting the India Meteorological Department (IMD) to issue an orange alert for the next two days. Residents have been urged to take precautions as the heatwave continues. The actual maximum temperature hit 43.4°C, which is 3.4 degrees above normal, while the minimum stayed at 27.6°C. Humidity levels ranged from 48% to 25%, making the heat feel even worse. According to the IMD, the intense weather is expected to last until at least June 12, with strong winds offering little comfort.Heatwave conditions across the regionThe IMD confirmed heatwave conditions over the Haryana-Chandigarh-Delhi belt. Cities like Hisar, Sirsa, Rohtak, and Delhi’s Ayanagar recorded temperatur
Shares of Grasim Industries climbed as much as 4.4% on Tuesday to Rs 2,723.50 on the BSE after Morgan Stanley upgraded the stock to ‘Overweight’ from ‘Equal-weight’ and raised its target price to Rs 3,500 from Rs 2,975.The brokerage also named the Aditya Birla Group company a "top pick in coverage", citing “multiple opportunities in play” and better-than-expected performance in its newly launched paints business.The target price of Rs 3,500 implies a potential upside of 28.5% from the stock's intraday high on Tuesday.“The paints business has fared better than expected since launch,” Morgan Stanley said, adding that it expects “the next leg of paints value unlocking in play” to drive further upside.UltraTech and new-age bets in focusWhile the paints segment has had a pro
