RBI's curveball may strike out high debt cos; time to buy banking stocks for long term

RBI said it was hiking repo rates by 40 bps and increasing cash reserve ratio (CRR) by 50 bps, which will suck out Rs 87,000 crore from the banking system. Due to this, the market will likely be under pressure and rate sensitive stocks, including banks, may see more selling as the impact of the rate hike.

RBI's curveball may strike out high debt cos; time to buy banking stocks for long term
RBI said it was hiking repo rates by 40 bps and increasing cash reserve ratio (CRR) by 50 bps, which will suck out Rs 87,000 crore from the banking system. Due to this, the market will likely be under pressure and rate sensitive stocks, including banks, may see more selling as the impact of the rate hike.