Auto, realty stocks register gains post-RBI rate hike
Mumbai, July 27: Reacting positively to the moderate rate hike announced by the Reserve Bank today, shares of rate- sensitive auto and realty companies rose in the range of 1-3 per cent at mid-session.
Analysts said the rake hike was moderate and largely in line with the expectation of market participants.
Two-wheeler major Hero Honda zoomed 2.34 per cent and was the top gainer on the BSE benchmark Sensex. The country's top truck maker, Tata Motors, jumped 1.63 per cent, while rival M&M rose 1.5 per cent.
"We view the step taken by the RBI as quite legitimate in view of the strong signs of generalised inflation in the economy seen over the last few months and to check demand side pressures," SMC Global Securities Chairman & Managing Director Subhash C Aggarwal said.
Maruti Suzuki, the country's largest car-maker, surged by 1.
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