The RBI has continued its upward interest rate revision policy of the past one year by yet again hiking the interest rates by 50 basis points. The new repo rates are 8% and the corresponding reverse repo rate (1% lesser than repo rates) is 7%. This in effect will mean that things are going to be costlier on the borrowing front.
Here's a review of what is in store for the common man with the new changes.
The announcements:
• Repo rate hiked to 8.0% • Reverse Repo rate effectively raises to 7.0% • Marginal Standing Facility gets automatically adjusted to 9.0 % • Bank rate and CRR rate maintained at 6.0% each
( Here is a more detailed look at RBI's announcements)
Glenmark Pharmaceuticals leads gainers in 'A' group (26/7/2011,16:57 Hours IST) Aurobindo Pharma, Manappuram Finance, Coal India and Apollo Hospitals Enterprise are among the other gainers
The initial public offer of L&T Finance Holdings has received overwhelming response from all categories of investors out of which retail bought the highest. As per the data available on National Stock Exchange, the issue has subscribed five times on the last day,
Majority of the bids were seen at the lower end of the price band of Rs 51-59 as some experts felt that the issue was highly priced though. Another reason could be that the pre-IPO placement of Rs 330 crore was at Rs 55 a share while anchor book of Rs 153 crore got subscribed at Rs 56 a share.
The issue has received bids for 106.7 crore equity shares (i.e. around Rs 5,442 crore worth of shares at Rs 51) against approximate issue size of 21.45 crore shares.
Reserved portion of retail investors was subscribed 9.33 times while non-institutional investors' portion got subscribed 6.18 times and qualified institutional buyers 1.92 times, reports CNBC-TV18.
Reserved portion of shareholders and employees subscribed 2 times & 0.84 times, respectively.
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ReplyDeleteRbi Hikes 50 Basis points of Repo rate
ReplyDeleteBy BankBazaar.com
ReplyDeleteThe RBI has continued its upward interest rate revision policy of the past one year by yet again hiking the interest rates by 50 basis points. The new repo rates are 8% and the corresponding reverse repo rate (1% lesser than repo rates) is 7%. This in effect will mean that things are going to be costlier on the borrowing front.
Here's a review of what is in store for the common man with the new changes.
The announcements:
• Repo rate hiked to 8.0%
• Reverse Repo rate effectively raises to 7.0%
• Marginal Standing Facility gets automatically adjusted to 9.0 %
• Bank rate and CRR rate maintained at 6.0% each
( Here is a more detailed look at RBI's announcements)
Glenmark Pharmaceuticals leads gainers in 'A' group (26/7/2011,16:57 Hours IST)
ReplyDeleteAurobindo Pharma, Manappuram Finance, Coal India and Apollo Hospitals Enterprise are among the other gainers
The initial public offer of L&T Finance Holdings has received overwhelming response from all categories of investors out of which retail bought the highest. As per the data available on National Stock Exchange, the issue has subscribed five times on the last day,
ReplyDeleteMajority of the bids were seen at the lower end of the price band of Rs 51-59 as some experts felt that the issue was highly priced though. Another reason could be that the pre-IPO placement of Rs 330 crore was at Rs 55 a share while anchor book of Rs 153 crore got subscribed at Rs 56 a share.
The issue has received bids for 106.7 crore equity shares (i.e. around Rs 5,442 crore worth of shares at Rs 51) against approximate issue size of 21.45 crore shares.
Reserved portion of retail investors was subscribed 9.33 times while non-institutional investors' portion got subscribed 6.18 times and qualified institutional buyers 1.92 times, reports CNBC-TV18.
Reserved portion of shareholders and employees subscribed 2 times & 0.84 times, respectively.