The primary market is all set to remain in action next week amid favorable momentum observed in the secondary market, where the Nifty 50 achieved a record high last week. Around six new initial public offerings (IPO), including three in mainboard and three small and medium enterprise (SME), are set to hit Dalal Street in the upcoming week.

The Street cheered Nvidia’s Q4 results and Q1 guidance, taking the AI chipmaker’s market capitalisation to $2 trillion, but the company’s CFO Colette Kress noted in an earnings call that its data centre revenue significantly fell in one particular geography -- China. Nvidia’s fiscal fourth quarter revenue more than tripled on-year to $22.1 billion, with the data centre business revenue quadrupled.

As many as 431 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by cost overrun of more than Rs 4.80 lakh crore in January 2024, an official report stated. According to the Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,821 projects, 431 reported cost overruns.

Gold And Silver Prices Today: Gold prices experienced a slight decrease on Sunday. The price of 24 carat gold is Rs.6318.6 per gm, a decrease of Rs.806.0. The price of 22 carat gold is Rs.5787.8 per gm, down by Rs.739.0.The price change in 24 carat gold over the last week has been -1.24%, while over the last month it has been -0.37%.The cost of silver is Rs.74500.0 per kg.

The growth in currency in circulation decelerated to 3.7 percent for the week ended February 9 from 8.2 percent a year ago, reflecting the impact of the decision of the Reserve Bank of India (RBI) to withdraw Rs 2,000 banknotes. Currency-in-circulation (CiC) refers to notes and coins in circulation, while currency with the public comprises notes and coins in circulation minus cash with banks.

The growth of the domestic passenger vehicle industry is likely to moderate to less than 5 percent in the next fiscal, according to Tata Motors Passenger Vehicles Managing Director Shailesh Chandra. The company, however, expects electric vehicle sales to keep growing despite the slow pace of charging infrastructure development in the country.

The stock market is expected to remain closed for trading on three occasions in March this year. Meanwhile, there was no holiday in February and one holiday in January. Both National Stock Exchange and Bombay Stock Exchange remains closed for trading on public holidays. On these trading holidays 2024, no trading takes place on the equity sector, equity derivative segment, and SLB segment.

Nifty closed at 22,213 on 23rd Feb after a volatile week. Indecisiveness among participants indicated by the candle with shadows. RSI above reference lines signals positive bias. Buy recommendations: Indus Towers, JSW Energy, Godrej Properties, Indiabulls Housing Finance. Technical analysis: Symmetrical triangular pattern, Fibonacci Retracement level, 20, 50, 100, and 200 days SMA, Bollinger Band.

Eco Hotels and Resorts is targeting more than 2,000 hotel rooms under its operations by March 2025. Earlier this month, the company inked an initial pact with Vitizen Hotels Ltd (VHL) to acquire a 100 percent stake of VITS in the VHL. With this acquisition, Eco Hotels and Resorts will operate 20 hotels with around 1,200 rooms.

India's monthly steel exports hit an 18-month high to 1.1 million tonnes in January 2024 on increased demand from the European Union and supportive global prices, SteelMint said. Besides, competitive domestic prices of steel contributed to a rise in exports, the research firm said in its latest report. The outbound shipment of steel in January 2023 was 0.67 million tonne, as per SteelMint data.

The bull run we witnessed from 2003-08 was the longest. We saw the benchmark index Nifty 50 rising from 1000 odd points to a peak of over 6,000. This was followed by the Lehman Brothers’ collapse that triggered the Global Financial crisis (GFC). We also saw a massive fall in the markets worldwide. The market observed a similar bull run from the post-COVID period to date.

India's market capitalisation can grow from $4.8 trillion now to $50 trillion in the next 20 years, National Stock Exchange (NSE) CEO Ashish Chauhan has predicted. If India must reach a market cap of $50 trillion in next 20 years, it will come on the back of tech-driven startups that will lead wealth creation, National Stock Exchange (NSE) CEO Ashish Chauhan said.

HDFC Bank said that it has received approval from markets regulator RBI to offload 90% of HDFC Credila’s total issued and paid-up share capital. On June 20 last year, HDFC Ltd disclosed to the exchanges that it had entered into definitive agreements for the potential sale of a 90 percent share in HDFC Credila to a consortium of private equity firms for approximately ₹9,060 crore.

💰There are a host of corporate actions scheduled for this week. Natco Pharma, Suprajit Engineering, NMDC, and Jupiter Wagons will trade ex-dividend, while The South Indian Bank's rights issue's ex-date is fixed this week. 💰Shares of Rajshree Polypack (2:1) on Monday, DRC Systems India (2:1) on Tuesday, and Fiem Industries (1:1) on Wednesday will go ex-bonus.

India Vietnamese electric vehicle maker VinFast has asked India to reduce import duties on its cars for about two years so customers can get familiar with its products while a local manufacturing plant comes on stream, an executive said on February 25. VinFast has started building a factory in the southern state of Tamil Nadu and hopes to start production by the middle of next year.