Benchmark indices settle the day flat as RBI kept its policy rate on hold at 6.25% for the second meeting in a row, opting to wait for more clarity on the trend for inflation. The Central Bank also changed its policy stance to 'Neutral' from 'Accommodative' and FY17 GVA target was lowered to 6.9% from earlier target of 7.1%. Sensex fell as much as 160 points as soon as the policy was announced while Nifty breached its crucial 8,750 levels. Earlier this week, both indexes had hit a four-month high on rate-cut hopes. The RBI decision disappointed investors, sending India's benchmark 10-year bond yields up 13 bps from levels before the decision.
Titan shines 8% on robust Q3 earnings – Shares of Titan spiked over 9% on the BSE in intraday deals after the jewelry major posted an impressive performance in the December quarter, especially in the backdrop of demonetization.
Technofab Engineering surges on orders win of Rs 220 crore from Power Grid – TechnofabEngineering surged 16% to Rs 214 on the National Stock Exchange (NSE) in intra-day trade after the company announced the receipt of two new orders from Power Grid Corporation of India amounting to Rs 220 crore in the State of Tripura.
Tomorrow Stock Tips
BUY ACE ABOVE 58 TARGET 58.50, 59, 59.50 STOPLOSS 57
BUY KOPRAN ABOVE 73 TARGETS 73.70, 74.40, 75.10 STOPLOSS 71.60
BUY GAEL ABOVE 115 TARGETS 116, 117, 118 STOPLOSS 113
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