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#747 Daily Money Show | Money Purse Stock Market News
Original: # 747 Daily Money Show | Money Purse Stock Market News
Takeaway
RBI's hawkish 'inflation first' tone delayed rate cut hopes — financials sold off and Paytm, ITC and Yes Bank each took specific blows from regulatory and stakeholder-driven news.
Summary
- RBI MPC held rates unchanged and signalled no early rate cuts due to food inflation concerns; FY24 inflation projection 5.4%, FY25 4.5% (if normal monsoon), real GDP growth 7% — markets reacted negatively, Sensex -723 pts to 71,428.
- Paytm stock hit lower circuit (-10%) after RBI Deputy Governor confirmed Paytm Payments Bank restrictions stemmed from long-running non-compliance, signalling no rollback; RBI will release FAQs next week.
- ITC fell 4% after British American Tobacco (29.03% stake) reiterated intent to actively monetise/trim stake in upcoming quarters.
- Inox Wind won 1,500 MW order from CESC (largest-ever single wind order); 1,000 MW turnkey + 500 MW equipment supply over 3-4 years; positive for Inox Wind and CESC.
- Block deal in Yes Bank involving ~11% equity (~Rs 808 cr) raised speculation that SBI may be exiting its 26% stake; Yes Bank denied any negotiations but the news triggered selling.
RBI MPCPaytmITCInox WindYes Bank
Original description
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