The Repo Rate Hike: Inflation Gave the Cover, the Rupee Gave the Reason

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SumanSpeaks Independent Capital Markets & Geopolitical Intelligence RBI Policy Decoded The Repo Rate Hike: Inflation Gave the Cover, the Rupee Gave the Reason The RBI raised the repo rate by 25 basis points to 5.50 percent on 7 October 2026. With the rupee at ₹96.78 to the dollar, the Fed at 3.75–4.00 percent and bank credit growing near 18 percent, the fuller story is bigger than August CPI of 4.8 percent. The Reserve Bank of India raised the repo rate by 25 basis points to 5.50 percent on 7 October 2026. It is the first hike since February 2023, and the stance has moved from neutral to calibrated tightening. The rate decision was unanimous. The Governor cited inflation. The Monetary Policy Committee said the inflation outlook is no longer as comfortable as it was last year, and near-term rate cuts were taken off the table. That is the official story, and it is not wrong. But it is incomplete. Look at what surrounds the decision: a rupee near its record...
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Essar Oil Ltd: Breaks Out
CMP: Rs.52.20
Essar Oil is a fully integrated oil and gas company of international scale with strong presence across the hydrocarbon value chain from exploration and production to refining and oil retail.

Essar Oil said it will allot 3.88 crore equity shares at Rs.138 per share on conversion of 1,150 foreign currency convertible bonds (FCCBs) of $100,000 each aggregating to $115 million which were issued on 15 June 2010 to Essar Energy Holdings. The company will also allot 4.50 crore equity shares at Rs.153 per share on conversion of 1,470 FCCBs of $100,000 each aggregating to $147 million which were issued on 9 July 2010 to Essar Energy Holdings.
The promoter group company Essar Energy Holdings held 19.83% stake in Essar Oil (as per the shareholding pattern as on 30 September 2013).

Lalit Kumar Gupta, chief executive officer, Essar Oil Ltd, in a very recent interview with a Business Channel, says the company’s promoters are converting the Foreign Currency Convertible Bond (FCCB) in order to boost the company’s networth. Additionally, Gupta said that the company has high interest costs of Rs.3000 crore per annum, but it is likely to be reduced substantially by USD 150-200 million (Rs.15-20 crore).

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