Discover the top stock market headlines that are trending in India today.
On October 9, Indian stock markets extended gains after the Reserve Bank of India (RBI) changed its stance to 'neutral' from 'withdrawal of accommodation’. With a hope of a rate cut in December, the current repo rate remains unchanged at 6.5 per cent for the tenth consecutive meeting, as per RBI's Monetary Policy Committee (MPC). In fact, RBI Governor Shaktikanta Das clarified how all members agreed on the change in stance, which means that RBI might have a possibility to ease interest rates in the near future.
On October 9, SpiceJet share price gained 7 percent post the details of the airline amicably settled its dispute with lessors under Babcock & Brown Aircraft Management (BBAM) for $22.5 million. “This landmark settlement with BBAM allows us to significantly reduce our liabilities and reinforces our efforts to emerge as a more robust airline,” said Ajay Singh, Chairman and Managing Director of SpiceJet. Meanwhile, at 10 am, SpiceJet stock was trading at Rs 66.9, which was 6.5 percent from the previous close.
Shares of Navratna PSU, Rail India Technical and Economic Service, (RITES) Ltd, climbed over 7 per cent on signing an international deal and got all the limelight on Wednesday, October 9. Reportedly, the mid-cap infrastructure consultancy has signed a partnership with Etihad Rail for rail infrastructure projects in the UAE. At around 10:05 am on the NSE, RITES share price was trading up 7.49 per cent at Rs 322.85.
Shares of Suzlon Energy jumped more than 9 percent during the trading session on Wednesday, October 9. The wind energy player extended its gains for the second straight session, and bounced back to 18 percent in the two sessions. Shares of Suzlon Energy Ltd were at Rs 80.59, which was up by 9.40 per cent, thereby having a total market capitalization of Rs 1.1 lakh crore. In the previous trading session, the stock had closed at Rs 73.67.
