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RBI Holds Repo Rate At 6% et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
Feb 7, 2018 1:02 PM 1 min read
Editorial

End of Day Wrap-up (Wednesday / February 7, 2018) #RBI #MSP #interestrates #reporate #crudeoil #SoftBank #ElonMusk #Vodafone #Aviation #SpiceJet #Transfin

Editor's comment: RBI maintains neutral stance for monetary policy holding repo rate at 6%. Five of six members of Monetary Policy Committee vote for hold, Dr Michael Debabrata Patra suggests increase of 25bps. RBI mentions staggered impact of HRA increases, oil and commodity prices, MSP revisions and custom duty spikes as per Budget 2018, fiscal slippage as possible headwinds which may push up inflation.

 

SpiceJet reports 32% rise in its net profit at INR240 cr in Q3, on back of higher passenger revenue.

 

SoftBank plans to raise $18 bn through IPO of its Japanese telecom units. The money would be used to boost the company’s finances, which have been strained by a series of huge acquisitions in recent years.

 

SpaceX successfully launched the Falcon Heavy rocket from Florida’s Kennedy Space Center on Tuesday on its initial test flight, marking another coup for founder Elon Musk. The blastoff from Florida’s Kennedy Space Center was closely followed by the global aerospace industry, and it capped multiple design changes, years of delays and a roughly $1 billion. The blastoff caps years of delay and about $1 bn of investment.