Global payments and technology company Mastercard on February 12 launched Mastercard Digital Enablement Service (MDES) Token Connect, a platform that supports issuer-initiated tokenisation for banks in India. Under MDES, banks can enable card-on-file and device tokens for debit and credit cards through their mobile and internet banking channels.

Tritax Big Box has reached an agreement to potentially acquire UK Commercial Property REIT Ltd for 924 million pounds. The deal would involve Tritax issuing 0.444 shares for each UKCM share and create a combined market capitalization of 3.9 billion pounds. Tritax owns warehouses with clients including Amazon and Ocado, while UKCM invests in shopping centers, offices, and distribution centers.

Market veteran Madhu Kela believes that the recent selling of PSU stocks is not a major concern as the larger PSU story remains intact. He sees the correction as a positive development and expects buying to emerge at attractive valuations. The BSE PSU index has been on an upward trend in the past three years, with gains of 41%, 23%, and 55% in 2021, 2022, and 2023 respectively.

Vibhor Steel Tubes, a company that manufactures steel pipes and tubes, received a strong response from retail investors for its IPO. It raised Rs 21.52 crore from anchor investors and has set the price band at Rs 141-151. The bidding will close on Feb 15. The company plans to use the funds for working capital and improving its competitive position.

Private equity firms are experiencing a resurgence, with improving market conditions and a growing appreciation for their diversified offerings. With low interest rates and a strong stock market, these firms are likely to see increased deal-making and exits in the near future. However, there are also concerns about valuations and the ability to generate returns for investors.

Indian Hotels' Association expects significant job creation in the hospitality and tourism sector over the next 5-7 years, but highlights the need for government support and full industry and infrastructure status. The industry contributes to employment and GDP growth, but there is a gap between realization and policy implementation. The sector aims to create 50 million jobs but faces challenges.

Nifty closed on a weak note below its important moving averages, with declining shares outnumbering advancing ones. Traders are advised to remain cautious till benchmark closes above 22,000. Immediate support seen at 21,448 and 21,137. Midcap and Smallcap indices have started underperforming, so traders should be careful in these spaces. Two buy calls for next 3-4 weeks.

Brookfield India Real Estate Trust experienced strong growth in adjusted net operating income and net income from operating lease rentals. The company reported 1 million sq ft of gross leasing, including new leases and renewals. They also announced a distribution of Rs 208.6 crore and applied for conversion of 1 msf of SEZ spaces into non-processing areas.

Mazagon Dock Shipbuilders reported a 76% increase in net profit, reaching Rs 592 crore in Q3 of FY24. Revenue also saw a 30% rise to Rs 2,363 crore and EBITDA increased by 71%. The company's cost-cutting measures, including reduced finance and project expenses, contributed to the growth. The order book as of Dec 2023 stood at Rs 38,389 crore.

IRIS Business Services reported a profit of Rs 1.76 crore in the December quarter of 2023-24, a 19.2% increase from the year before. Revenue also increased by 35.4% to Rs 72.35 crore for April-December compared to the same period last year. The company plans to use its funding to focus on marketing and expanding its reach, with India and Africa as its key markets.

APM Terminals Pipavav recorded a 39% increase in net profit to Rs 110.27 crore for the December quarter. Revenue from operations rose to Rs 269.63 crore and EBITDA grew by 13%. Container cargo business increased by 6%, handling 2,04,000 TEUs. The operator also handled 29,000 cars and 589 container trains during the quarter.

Equity markets closed lower on Monday due to profit booking. Key stocks like Hindalco, ZEE, Eicher Motors will be in focus as they announce their Q3 results. Coal India's net profit rose by 17%. Aurionpro Solutions plans to raise Rs 200 crore through issue of shares. SAIL reported net profit of Rs 423 crore while JSW Neo Energy received a letter of award for a wind power project.

Apple remained the top player in India's tablet market in 2023 despite a decline in shipments, while Samsung held the second spot with a 23% market share. The market saw a strong demand for 5G and premium tablets, indicating a shift towards high-end devices. This trend is expected to continue in 2024, driving a projected growth of 5-10%. Lenovo also made it to the top three with a 24% share.

Overall, banks have improved their asset quality in the third quarter of the current financial year. This can be attributed to lower slippages, leading to a reduction in loans under SMA-2 category. Majority of the banks analyzed have shown improvement in their asset quality, with some reporting downward trend in slippages and maintaining low GNPA levels.

The IBBI has instructed resolution professionals to share their reports on insolvency applications with creditors and debtors. This is to ensure equal access to information and promote transparency in decision-making. Previously, some reports were not being shared, causing an imbalance of information. The resolution professional must now provide copies of the report to both parties.