PRE-MARKET INDIAN STOCKS NEWS: RBI rate decision is scheduled today
The anticipated RBI rate decision today is key for investor sentiment across Indian and broader Asian markets, especially given the backdrop of varying corporate earnings reported this quarter.
Kobe Steel (5406 JT) 9-month (JPY) net 84.3bln (prev. 116.9bln Y/Y)
ITOCHU (8001 JT) 9-month (JPY) net 705.3bln (prev. 676.5bln), Co. announces up to JPY 20bln stock buyback
PRE-MARKET INDIAN STOCKS NEWS: RBI rate decision is scheduled today
Indonesian President said they signed a security treaty with Australia
[MARKET ANALYSIS] Asia-Pac stocks trade mixed after the early sell-off gradually stabilised
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Bharti Airtel (BHARTI IS) - Co. Q3 (INR) consolidated profit fell 55% Y/Y to 66.3bln, rev. rose 15.2% Y/Y to 539.8bln. (Moneycontrol)
Federal Bank (FEDERALBNK IS) - RBI granted approval to Asia II TopCo XIII Pte to acquire an aggregate holding of up to 9.99% a stake in Federal Bank. (Moneycontrol)
Hero MotoCorp (HMCL IS) - Co. Q3 (INR) profit rose 12.1% Y/Y to 13.5bln, rev. rose 20.7% Y/Y to 123.3bln. (Moneycontrol)
Rail Vikas Nigam (RVNL IS) - Co. Q3 (INR) profit rose 3.7% Y/Y to 3.2bln, rev. rose 2.6% Y/Y to 46.8bln. (Moneycontrol)
Tata Motors Passenger Vehicles (TMPV IS) - Co. Q3 (INR) loss 2.3bln (prev. loss 3.0bln Y/Y), rev. rose 25.8%Y/Y to 152.7bln. (Moneycontrol)
A hawkish or dovish stance could significantly shift the interest rate outlook, impacting financial equities and currency flows, particularly for the INR. Traders should keep an eye on the market's positioning ahead of the announcement and consider how it aligns with the recent economic data and corporate performance.
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