RBI has reduced the repo rate to 7.75 per cent from 8.0 per cent with immediate effect consequently, the reverse repo rate under the liquidity adjustment facility stand adjusted to 6.75 per cent. The marginal standing facility (MSF) rate and the bank rate stand at 8.75 per cent with immediate effect.
Bajaj Auto Ltd reported 4.78 per cent decline in its net profit to Rs. 861.24 crore for the third quarter ended December 31, 2014. The company had posted a net profit of Rs. 904.55 crore in the same quarter previous fiscal.
BHEL has bagged a contract valued at Rs. 1,202 crore. The order for the 370 MW Gas Turbine-based CCPP is to be installed on the outskirts of Bengaluru city.