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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.”",
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India’s market regulator will direct brokers and mutual funds to limit the use of financial influencers in advertising and marketing campaigns, according to two people with direct knowledge of the matter."
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Two years after he set the Kerala box office afire with his gangster action film Bheeshma Parvam, starring Mammootty in the lead role, cinematographer-turned-filmmaker Amal Neerad has announced his return to the director’s chair, this time with a band of younger talents. Titled Bougainvillea, the makers of the movie have finally unveiled its first look poster, featuring the main cast and offering a small glimpse into the movie’s world."
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>Harry Potter 20th Anniversary: Return to Hogwarts, the reunion special, seems to have pleased both critics and audiences, who have embraced the emotional, nostalgia-mining special that celebrates the franchise’s 20 years of existence."
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