Stock Market News: Domestic equity benchmark indices started off Friday's session with minor gains amid positive global cues. For the fifth consecutive session, the Nifty 50 touched a record high, fueled by a rise in information technology (IT) stocks and following a global equity rally. The Nifty 50 opened at 22,290 level, up 72.50 points or 0.33%, and the BSE Sensex opened higher by 236.20.

Jio Financial Services Ltd's market capitalization exceeded Rs 2 lakh crore for the first time, driven by a 35 percent surge in its share price this year. Parent Reliance Industries also hit a record high on February 23. At 10.30 am, shares of Jio Financial Services rose 8 percent to a record Rs 326. The stock gained for the fifth straight session, rising nearly 17 percent during the period.

The famous proverb – “Try Try till you succeed” – seems to be the motto of Vodafone Idea Ltd, as the cash-strapped telecom operator makes yet another attempt to raise fresh equity capital. On Thursday, the company said that its board will meet on February 27 to consider and evaluate fundraising in one or more tranches through equity instruments, including rights issues.

The manufacturing sector needs to contribute a quarter to India's economic growth amid its ambition of becoming a USD 30-trillion economy by 2030 and a developed country (Viksit Bharat), M&M group Managing Director and CEO Anish Shah said on Friday. Sharing his perspective on the role industries and enterprises will have to play in accelerating national growth and economic prosperity.

Reported Standalone quarterly numbers for F Mec International Financial Services are:Net Sales at Rs 0.86 crore in December 2023 up 132.16% from Rs. 0.37 crore in December 2022.Quarterly Net Profit at Rs. 0.38 crore in December 2023 up 224.6% from Rs. 0.12 crore in December 2022.EBITDA stands at Rs. 0.54 crore in December 2023 up 260% from Rs. 0.15 crore in December 2022.

Reported Standalone quarterly numbers for Supra Pacific Financial Services are: Net Sales at Rs 7.19 crore in December 2023 up 90.6% from Rs. 3.77 crore in December 2022.Quarterly Net Profit at Rs. 0.45 crore in December 2023 up 54.12% from Rs. 0.29 crore in December 2022.EBITDA stands at Rs. 3.89 crore in December 2023 up 72.12% from Rs. 2.26 crore in December 2022.

Reported Standalone quarterly numbers for Vardhan Capital & Finance Limi are:Net Sales at Rs 1.08 crore in December 2023 down 62.18% from Rs. 2.86 crore in December 2022.Quarterly Net Loss at Rs. 0.12 crore in December 2023 down 198.07% from Rs. 0.12 crore in December 2022.EBITDA stands at Rs. 1.06 crore in December 2023 down 62.54% from Rs. 2.83 crore in December 2022.

Reported Standalone quarterly numbers for Powergrid Infrastructure Investment Trust are: Net Sales at Rs 240.74 crore in December 2023 down 6.3% from Rs. 256.93 crore in December 2022.Quarterly Net Profit at Rs. 227.58 crore in December 2023 down 6.69% from Rs. 243.90 crore in December 2022.EBITDA stands at Rs. 240.16 crore in December 2023 down 6.26% from Rs. 256.21 crore in December 2022.

Mutual Fund NFO: ICICI Prudential Mutual Fund has opened the subscription for its Large Midcap fund. It's an open ended scheme with high risk. The objective of the scheme is to invest in companies whose securities are included in the Nifty LargeMidcap 250 Index. The subscription in the fund is open till March 7.

Dear Reader, The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of.  It is Friday and we are at the end of this week’s game of rate cut bets across the world.

The Indian mutual fund (MF) industry doubled its assets under management (AUM) in four years to hit Rs 50 lakh crore in December. The number could double by 2030,  if an Axis Capital report is anything to go by. The India Asset Management AUM on the double: Closing in on 100 trillion report, which was released on February 23, said the industry AUM is expected to double to Rs 100 lakh crore.

In the era of financial globalisation, Indian companies, particularly tech startups, are increasingly drawn to the prospect of listing on US stock exchanges. This trend, fuelled by the allure of a broader investor base, heightened visibility, and a reputation boost in adhering to high governance standards, presents both opportunities and challenges.

Deem Roll Tech IPO allotment date: Deem Roll Tech IPO share allotment will be finalised today (Friday, February 23). The investors who applied for the issue can check the Deem Roll Tech IPO allotment status on the Deem Roll Tech IPO registrar portal, which is Bigshare Services Pvt Ltd.Investors can find out if and how many shares they have been given through the basis of allotment.

Auto component maker Sona BLW Precision Forgings (Sona Comstar) on Thursday said the company has received certification under the auto Production Linked Incentive (PLI) scheme. The company had filed seven applications for different products under the PLI scheme, and it has received the certification for its first product, a hub wheel drive motor for electric two-wheelers.

Indian stock market: Shares of Servotech Power Systems Ltd witnessed strong buying in the early morning session. The energy stock opened higher on Friday and went on to touch an intraday high of ₹97.80 apiece on the NSE, logging an intraday rise of 5 percent. While climbing to its intraday high, the small-cap energy stock touched the upper circuit during Friday deals.