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Dhiraj Relli, MD & CEO at HDFC Securities said, “In a surprise meeting today, RBI announced a repo rate hike by 40 bps (to 4.4%) and an increase in the CRR rate by 50 bps. RBI is no longer behind the curve to react to rising inflation numbers. In terms of timing, it took everyone by surprise and the hike of 40 bps is higher than the market expectation of 25 bps in the June Meet. This apart, the increase in CRR by 50 bps will withdraw Rs 87,000cr liquidity in the system. Immediately on the announcement, all interest-rate sensitive stocks fell sharply including Banks, Auto, Real estate, etc. Coming ahead of the US Fed announcement due today, the RBI has taken the lead for the time being after being blamed for being behind the curve by some economists. Nifty could remain under pressure for some time.”",
Apart from Nifty Midcap Select, all broader market indices closed in green, while India Vix soared 4.96 per cent. Nifty Midcap 100 gained 0.49 per cent, Nifty Midcap 150 climbed 0.47 per cent, Nifty Smallcap 50 gained 0.44 per cent, and Nifty Largemidcap 250 jumped 0.42 per cent.",
World number five Stefanos Tsitsipas found little resistance as he disposed of Spain’s Roberto Carballes Baena in straight sets 6-3 7-6(4) 6-2 on Wednesday to advance to the French Open third round but conceded he was cruising without a plan.",
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Prime Minister Narendra Modi has admitted that there is neither proof nor a money trail in the alleged excise scam, Delhi Chief Minister Arvind Kejriwal said Friday, hours before the Capital votes in the Lok Sabha polls.",
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ANI (@ANI) May 11, 2023",
Tasva, the official ceremonial dressing partner of Team India at the Paris Olympics, takes pride in dressing up the ones who bring home the glory,” they announced on Instagram, sharing pictures from the ceremonial dress and playing kit launch and send-off ceremony in the presence of Indian hockey stars Jarmanpreet Singh, Nilakanta Sharma, Krishan Bahadur Pathak, and Jugraj Singh."
The Indian arm of the Swiss food giant Nestle reported a net profit of 9.34 billion rupees (2.03 million) for the three months ended March 31, compared with 7.37 billion rupees a year earlier."
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According to the customs department, the accused were two women travelling from Nairobi, Kenya, to Mumbai and were detained on the basis of spot profiling of passengers."
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Otani, also a Vice President at Honda Motor Co., Japan, will succeed Atsushi Ogata, who returns to Shanghai, China as the Executive General Manager at Shanghai Branch, Honda Motor (China) Investment Co., Ltd with effect from April 1, 2023, the company said in a statement."
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>In a pre-budget representation, the All-India Bank Employees Association said, “to facilitate loan recoveries, laws should be enacted/amended to confiscate personal assets of the directors in case of default by a company.”"
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