Business

08

Oct

By The Press Editor

Business

Will 25 bps repo rate hike by RBI disrupt housing demand? Here’s what realty players say

The Reserve Bank of India’s decision to raise the repo rate by 25 basis points to 5.50 per cent is expected to have limited impact on residential demand, with developers saying the housing market is holding up despite a marginal rise in borrowing costs. The rate increase comes during the festive season, when homebuying activity typically gains momentum. The hike, the first since February 2023, comes against a backdrop of inflation concerns, crude-price volatility and renewed uncertainty in global markets. At the same time, the domestic economy remains on a strong footing, with real GDP growth at 7.8 per cent…

Read More

08

Oct

By The Press Editor

Business

Sensex tumbles 1.045 points, Nifty drops 1.64%, 11.38 lakh crore market cap erased

Benchmark indices Sensex and Nifty tanked on Thursday amid sustained selling pressure across the board. The 30-share BSE Sensex tumbled 1,045.46 points, or 1.44 per cent, to 71,593.24. During the day, the benchmark hit a high of 72,693.97 and a low of 71,327.75, gyrating 1,366.22 points. Similarly, the 50-share NSE Nifty fell 371.25 points or 1.64 per cent to close at 22,231.80. Similarly, the broader market ended the session in the red. The BSE MidCap Select Index dropped 445.47 points, or 2.53 per cent, while the BSE SmallCap Select Index shed 235.93 points, or 2.58 per cent.  The sell-off wiped…

Read More

08

Oct

By The Press Editor

Business

India on track to double economy to $8 trillion in a decade as structural reforms bear fruit: Report

India's economy could double to more than USD 8 trillion over the next decade, Global investment firm KKR said, believing structural reforms can pay off. "The economy has now crossed USD 4 trillion, and we think it is on track to double again over the next ten years," KKR said in its October 2026 "Thoughts From the Road Europe and Asia" report. According to KKR, India's growth story is far from over and there is still meaningful upside to be unlocked from reforms already on the books, not just from new ones yet to come. If India achieves this target,…

Read More

08

Oct

By The Press Editor

Business

50-30-20 rule was never built for Indian salaries; expert explains what should replace it

The 50-30-20 rule is a popular global framework for dividing monthly income as 50 per cent for needs, 30 per cent for wants, and the remaining 20 per cent for savings. However, financial experts say the formula, built around higher-income economies with stronger social security nets, often struggles to hold up against Indian household realities. Experts believe that instead of chasing a fixed savings percentage, Indian salaried individuals can benefit more from prioritising essential expenses, insurance, and an emergency fund before deciding how to allocate the rest of their income.  According to Akshay Gulati, Founder of Super Investing AI, the…

Read More

08

Oct

By The Press Editor

Business

IT stock opens in green on securing major digital project, has offered 293% return in 5 years

Shares of Hyderabad-based IT company Blue Cloud Softech Solutions opened in the green even as benchmark indices declined, as the growing prospect of tighter domestic and global monetary conditions persisting longer, surging crude oil prices, and foreign fund outflows dented sentiment. The counter opened at Rs 20.72, up around Rs 0.40 or 1.96 per cent from the previous close of Rs 20.32 on the BSE. The counter gained further to touch an intraday high of Rs 21.14, up Rs 0.82 or 4.05 per cent. Last seen, the stock was trading at Rs 21, up Rs 0.68 or 3.34 per cent,…

Read More

08

Oct

By The Press Editor

Business

Gold, silver opened higher but remain volatile on MCX, check key levels to watch and city-wise rates

Rates of precious metals in futures opened higher on Thursday, October 8, 2026, but remain volatile. The gold October 5 contract on the Multi Commodity Exchange (MCX) opened with a gain of Rs 586 at Rs 1,49,689 per 10 grams, up from the previous close of Rs 1,49,103. It gained further to touch the high of Rs 1,49.900. However, it later saw profit booking and fell to touch the intraday low of Rs 1,48,965, down Rs 138 or 0.09 per cent. Last seen, it traded at Rs 1,49,160, up Rs 57 or 0.04 per cent.  On the MCX, the yellow…

Read More

08

Oct

By The Press Editor

Business

From PNB to Bank of Baroda, these PSU banks make loans expensive after RBI repo rate hike

Middle-class borrowers and salaried households may face significant financial strain as several public sector banks across the country have raised loan interest rates following a 0.25 per cent repo rate hike by the Reserve Bank of India (RBI). Punjab National Bank (PNB), Indian Bank, and Bank of Baroda are among the major PSU banks that have raised their lending rates. These banks have increased their loan interest rates by up to 0.25 per cent, making loans expensive for borrowers. Repo rate increased to 5.50 per cent The RBI raised the repo rate by 0.25 per cent to 5.50 per cent…

Read More

08

Oct

By The Press Editor

Business

Paytm share price falls 10% despite Goldman Sachs raising its target, check details

Paytm shares fell over 10 per cent on Thursday despite Goldman Sachs raising its target price. The stock opened gap down at Rs 1,670, down 3.69 per cent from the previous close of Rs 1,734 on the BSE. Amid selling pressure, the counter tumbled further to hit a 10 per cent lower circuit of Rs 1,560.60. The counter gained some momentum from the lower levels and was last seen trading at Rs 1,647.20, down Rs 106.80 or 6.16 per cent, and the company's market cap stood at Rs 1,04,383.18 crore. The stock fell after three consecutive days of gains and underperformed…

Read More

08

Oct

By The Press Editor

Business

8 October, 2026 Stock Market Updates: Sensex, Nifty flat after RBI’s repo rate hike, Paytm falls 7%

Indian equity benchmark indices, the Sensex and Nifty, started the session mixed as investors remained cautious after the Reserve Bank of India (RBI) raised its repo rate to 5.50 per cent. The 30-share BSE Sensex gained 29.30 points, or 0.04 per cent, to start the session at 72,668, while the Nifty shed 4 points to open at 22,599.05. In the last trading session, the Sensex closed at 72,638.70 and the Nifty 50 at 22,603.05. Similarly, the broader indices traded mixed in the opening session. While the BSE Midcap Select Index shed 42.34 points, the BSE Smallcap Select Index gained 3.48…

Read More

08

Oct

By The Press Editor

Business

Ola Electric rights issue date, price and record date announced, check full details here

Ola Electric Mobility will be on investors' radar after the company informed exchanges that its board has set the issue price for its proposed rights issue at Rs 27 per equity share. This is around 26 per cent below the current market price of Rs 36.30. According to the company, it will pay the amount in two calls. The board finalised the decision on the rights issue after receiving in-principle approvals from the National Stock Exchange of India (NSE) and BSE Limited. "The Board of Ola Electric has approved a rights issue of up to Rs 1,000 crore at Rs…

Read More