RBI keeps repo rate unchanged, Dabur expects muted Q2 revenue growth & more

NIFTY50: 19,653 ▲ 107 (+0.5%)
SENSEX: 65,995 ▲ 364 (+0.5%)

• Benchmark indices closed higher, after RBI maintained status quo on rates
• In all, 39 of the NIFTY50 stocks closed in the green
• Malaysian palm oil futures fell to the lowest level in 15 weeks amid lower demand from India and China.

Among the NIFTY sectoral indices, Realty (+3.0%) and Pharma (+0.7%) were the top gainers, while Media (-0.02%) remained flat.

What's Up

What's Down

Market Sentiment

Stock Buzz

⭐ RBI keeps repo rate unchanged 

The RBI Monetary Policy Committee kept the repo rate unchanged at 6.5% for the fourth consecutive time. Following the announcement, the market reacted positively as the policy outcome was in line with expectations. Rate-sensitive sectors such as banking, automobile, and real estate closed in the green, with NIFTY Realty rising more than 3% today. 

⭐ FMCG stocks slip after Q2 update 

Dabur India expects its consolidated revenue to grow in single digits in the September quarter as it expects a slow and gradual recovery in FMCG consumption. Its shares closed 0.5% lower today. During the same period, Adani Wilmar’s overall volume grew by 11% YoY. However, its sales in value declined by 13% YoY due to lower edible oil prices globally and local prices being pressured by imports. The stock closed 0.5% lower today.

⭐ Indigo adds new charge to offset rising ATF prices 

Shares of the airline operator closed 2.2% higher today after it introduced fuel charges on domestic and international flights. This new charge will range from ₹300 to ₹1,000 to offset the impact of rising aviation turbine fuel (ATF) prices. Since August 2023, domestic ATF fuel prices have surged over 27%.

 ⭐ Zydus Lifesciences gets USFDA nod 

The drugmaker has received USFDA approval for its Sugammadex injection, a post-surgery drug. This injection will be manufactured at the company's Vadodara facility. As per IQVIA, this drug had annual sales of $986 million in the US market. The company’s shares closed flat today.

⭐ Kalyan Jewellers jumps on Q2 business update 

Shares of Kalyan Jewellers rose by 9.7% after reporting a robust Q2 business update. The company saw revenue growth of 27% YoY for the September quarter. This comes on the back of increased consumer footfall as well as growth in same-store sales. During the same period, the company added 13 new showrooms and plans to launch 26 more showrooms in the next 40 days.

IPO Corner

⭐Shares of Valiant Laboratories listed at a premium of 16% over the issue price. The drug maker stock started trading at ₹162 per share on the NSE, well above the issue price of ₹140.

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