{"id":2616,"date":"2026-10-12T08:33:53","date_gmt":"2026-10-12T08:33:53","guid":{"rendered":"https:\/\/newsraise.com\/in\/2026\/10\/12\/india-market-watch-oct-12-steel-policy-rbi-rate-hike\/"},"modified":"2026-10-12T08:33:53","modified_gmt":"2026-10-12T08:33:53","slug":"india-market-watch-oct-12-steel-policy-rbi-rate-hike","status":"publish","type":"post","link":"https:\/\/newsraise.com\/in\/2026\/10\/12\/india-market-watch-oct-12-steel-policy-rbi-rate-hike\/","title":{"rendered":"India markets set to open higher on steel policy draft and RBI rate hike"},"content":{"rendered":"\n<!-- Quick Adsense WordPress Plugin: http:\/\/quickadsense.com\/ -->\n<div class=\"9fece8afa224fd09e54b043d0febfb58\" data-index=\"1\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- NR ATF -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-8898941184964366\"\r\n     data-ad-slot=\"4839033563\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n<p>Domestic equities are poised to begin trading on Monday, October 12, with the GIFT NIFTY futures pointing to an opening of the NIFTY50 index about 11 points above the previous close. Market participants are weighing two headline developments \u2013 the release of a draft National Steel Policy Vision\u202f2047 and the Reserve Bank of India&#8217;s (RBI) first benchmark lending\u2011rate increase in almost four years.<\/p>\n<h2>Draft steel policy and its implications for steelmakers<\/h2>\n<p>The government has placed a draft of the National Steel Policy Vision\u202f2047 in the public domain for stakeholder feedback. The roadmap sets ambitious targets: raising crude steel production capacity to 604\u202fmillion tonnes, lifting per\u2011capita steel consumption to 302\u202fkg and expanding steel exports to 45\u202fmillion tonnes by 2047. In addition, the policy seeks to fortify domestic raw\u2011material security, curb import dependence and boost the share of high\u2011value steel in overall output.<\/p>\n<p>Analysts note that the proposed framework could underpin long\u2011term growth for major steel producers such as Tata Steel, JSW Steel, SAIL, Jindal Steel and NMDC, as well as iron\u2011ore miners. However, the actual impact will hinge on how swiftly the measures are implemented and on prevailing demand conditions across construction, infrastructure and automotive sectors.<\/p>\n<h2>RBI\u2019s 25\u2011basis\u2011point repo rate hike<\/h2>\n<p>After a gap of nearly four years, the RBI raised its policy repo rate by 25\u202fbasis points to 5.5\u202fpercent, a move aimed at containing inflation pressures that have been exacerbated by the West Asia crisis. The rate hike makes borrowing from the central bank more expensive, but industry insiders say the effect will be partially offset because lenders\u2019 overall cost of funds also depends on the Marginal Cost of Funds\u2011based Lending Rate (MCLR), commercial paper, refinancing from the National Housing Bank and non\u2011convertible debentures. \u201cSome benefit will go to the lender because all of the borrowing of the lender is not on the repo rate,\u201d a senior official told PTI.<\/p>\n<p>The central bank\u2019s decision is expected to influence the cost of capital for corporates, including real\u2011estate developers, manufacturers and financial institutions, and may temper the enthusiasm for new project financing in the short term.<\/p>\n<h2>Corporate earnings and strategic moves<\/h2>\n<p>Several listed companies released quarterly results that provide insight into sector\u2011specific dynamics. Avenue Supermarts, the parent of the DMart chain, reported a net profit of \u20b9684.85\u202fcrore in the July\u2011September quarter a year earlier. In the current quarter, revenue from operations rose 17.8\u202fpercent to \u20b919,644\u202fcrore, while total expenses increased 18.3\u202fpercent to \u20b918,632.70\u202fcrore. The company\u2019s profit\u2011after\u2011tax (PAT) margin slipped to 3.8\u202fpercent from 4.1\u202fpercent a year ago, and total income, which includes other income, reached \u20b919,657.54\u202fcrore, up 17.73\u202fpercent.<\/p>\n<p>Infosys, in a regulatory filing, said it does not expect a recent suspension announcement to materially affect its operations. The firm reiterated its commitment to its workforce, clients and communities in the United States and affirmed compliance with all applicable laws and regulations.<\/p>\n<p>Brigade Enterprises Ltd, a Bengaluru\u2011based real\u2011estate firm with more than 300 projects completed over four decades, said housing demand remains robust, especially for apartments priced between \u20b91\u202fcrore and \u20b93\u202fcrore. Managing Director Pavitra Shankar highlighted strong sales of large township projects and reaffirmed an annual guidance of \u20b99,000\u202fcrore for the fiscal year 2026\u201127, conditional on timely project approvals.<\/p>\n<p>Adani Defence &#038;\u202fAerospace, the defence and aerospace arm of Adani Enterprises, was recognized at the Ministry of Defence\u2019s SIDM eighth annual session on October\u202f9. Defence Minister Rajnath Singh presented fifteen awards for achievements in indigenous technology development, product innovation, design, import substitution, manufacturing excellence and exports.<\/p>\n<p>SEPC announced a contract signed on October\u202f8,\u202f2026, for the balance\u2011of\u2011plant works at the pellet plant of SAIL\u2011IISCO in Burnpur, West Bengal. The company\u2019s consolidated order book has now crossed the \u20b910,000\u202fcrore threshold. SEPC also reported a surge in solar orders, with total solar\u2011cell and module supplies amounting to 2,308\u202fMW and a near\u2011doubling of its module\u2011manufacturing capacity to 11.1\u202fGW. Its solar\u2011cell capacity grew from 3.6\u202fGW to 10.6\u202fGW after commissioning a 7\u202fGW TOPCon facility in Naidupeta, Andhra Pradesh.<\/p>\n<p>Tata Motors, which announced in 2025 its intention to acquire Italy\u2019s Iveco (excluding the defence business) for \u20ac3.8\u202fbillion \u2013 roughly \u20b938,240\u202fcrore \u2013 continues the tender process that began in September. The offer of \u20ac14.10 per share values the transaction at \u20ac3.82\u202fbillion. The acceptance window runs from September\u202f7 to October\u202f26,\u202f2026, with an extraordinary general meeting slated for October\u202f16.<\/p>\n<p>Anand Rathi Wealth posted a net profit of \u20b999.8\u202fcrore for the July\u2011September quarter of the previous fiscal year, while revenue from operations rose 16\u202fpercent to \u20b9356.6\u202fcrore in Q2\u202fFY27. For the first half of FY27, consolidated net profit climbed 23\u202fpercent to \u20b9238\u202fcrore and revenue grew 17\u202fpercent to \u20b9693\u202fcrore. Assets under management increased 18\u202fpercent year\u2011on\u2011year to \u20b91,08,377\u202fcrore as of September\u202f30,\u202f2026, and the board declared an interim dividend of \u20b94 per equity share.<\/p>\n<p>A power\u2011generation firm disclosed that its operational capacity expanded 24\u202fpercent year\u2011on\u2011year to 20,763\u202fMW, aided by a greenfield addition of 4,083\u202fMW. In Q2\u202fFY27, the company added 621\u202fMW and commissioned 3,081\u202fMWh of Battery Energy Storage System (BESS) capacity at Khavda, bringing total installed BESS to 6,632\u202fMWh in the first half of the fiscal year.<\/p>\n<p>Waterways Leisure Tourism, which reported a loss of \u20b98.93\u202fcrore in the same quarter a year earlier, posted a 30.88\u202fpercent rise in revenue from operations to \u20b9132.9\u202fcrore, driven by healthy ticket yields and sustained demand across its sailings.<\/p>\n<p>Canara HSBC Life Insurance, promoted by Canara Bank, recorded a net profit of \u20b941\u202fcrore in the year\u2011ago quarter. Total income rose to \u20b92,511\u202fcrore from \u20b92,349\u202fcrore, while net premiums collected increased to \u20b92,553\u202fcrore from \u20b92,260\u202fcrore. First\u2011year premiums grew to \u20b9642\u202fcrore from \u20b9575\u202fcrore, and the solvency ratio moderated to 180\u202fpercent from 198\u202fpercent at the end of September\u202f2025.<\/p>\n<p>In response to the RBI\u2019s rate move, the central bank also revised fixed\u2011deposit rates. A 12\u2011month term deposit now yields 7\u202fpercent, 15\u2011month to 35\u2011month deposits earn 7.5\u202fpercent, and 36\u2011 to 60\u2011month deposits offer 7.85\u202fpercent, representing increases of 15, 40 and 35 basis points respectively. The new rates are effective from the date of the announcement.<\/p>\n<p>Collectively, these developments \u2013 a forward\u2011looking steel policy, a higher cost of borrowing, and mixed earnings results \u2013 set the tone for a market opening that could see the NIFTY50 begin the session on a positive note, while investors parse the longer\u2011term implications for India\u2019s industrial and financial landscape.<\/p>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The NIFTY50 is expected to start the day 11 points up as a draft steel policy and a higher RBI repo rate dominate market sentiment.<\/p>\n","protected":false},"author":3,"featured_media":2617,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[299],"tags":[2879,1757,2878,2877,1373],"class_list":["post-2616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-corporate-earnings","tag-india-economy","tag-rbi-rate-hike","tag-steel-policy","tag-stock-market","entry"],"_links":{"self":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts\/2616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/comments?post=2616"}],"version-history":[{"count":0,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts\/2616\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/media\/2617"}],"wp:attachment":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/media?parent=2616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/categories?post=2616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/tags?post=2616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}