Nissan Motor's shares dropped 11% in Tokyo trading due to a lower car sales outlook and concerns about its business in China. This resulted in a $1.8 billion loss in market value. The company maintained its annual outlook but revised its retail sales prediction to 3.55 million vehicles. Nissan is taking steps to mitigate challenges in China, including targeting regions.

Japanese stocks rose to a two-week high on Thursday, fueled by strong performance from tech stocks and a weaker yen. The Nikkei climbed 1.71%, with SoftBank Group and Advantest leading the gains. A weakening yen also boosted Japanese exporters such as Toyota Motor, which reached a record high. Daiwa Securities predicts the Nikkei will reach 37,000 by end-March due to strong earnings.

ONGC's net profit is expected to decrease by 14% year-on-year and 8% from the previous quarter due to lower crude prices and GST provisions. Analysts predict a decline in net sales and EBITDA, while recouped costs and lower crude realisation may further impact profits. The company's crude and gas production is also expected to decrease, with a drop in sales and realisation.

Reported Standalone quarterly numbers for Ovobel Foods are: Net Sales at Rs 50.80 crore in December 2023 down 7.07% from Rs. 54.66 crore in December 2022. Quarterly Net Profit at Rs. 0.41 crore in December 2023 down 95.68% from Rs. 9.53 crore in December 2022. EBITDA stands at Rs. 1.20 crore in December 2023 down 91.68% from Rs. 14.43 crore in December 2022.

Oil prices rose on Friday, with Brent and WTI climbing 0.1% and 0.2%, respectively. Tensions in the Middle East due to the ongoing conflict between Israel and Hamas have driven prices up by about 3%. Despite criticism of civilian casualties in Gaza, talks for a ceasefire continue. The conflict has not affected oil production.

FPIs pumped billions into Indian equities in November and December 2023, but turned into net sellers in January as they dumped stocks worth about Rs 40,300 crore across seven sectors. Financial services was hit the hardest, with FPIs selling over Rs 30,000 crore in this sector alone. They also sold stocks in FMCG, automobile, metals and mining, and media & entertainment sectors.

Patanjali Foods Limited, owned by yoga guru Ramdev, saw a 5% decrease in stock prices after reporting a 19.6% drop in net profit for the December quarter. Revenue also declined by 0.2%, with the FMCG segment showing some growth. The stock has gained 15% in the last three years and experts advise seeking certified advice before making investment decisions.

The sovereign gold bond (SGB) 2016-I, which came up for maturity on February 8, has delivered an extended internal rate of return (XIRR) of 13.6 percent or an absolute return of 163 percent to investors. According to a recent Reserve Bank of India (RBI) notification, the price for the final redemption was Rs 6,271 per unit of SGB.

Goodricke Group reported a 6.51% decrease in net sales and a significant net loss of Rs. 25.04 crore in the December 2023 quarter compared to the same period in 2022. EBITDA also saw a large decrease. Shares closed at 206.05 on Feb. 08, 2024 with returns of 13.40% over 6 months and 7.85% over 12 months.

Biocon Limited reported a net profit of Rs 660 crore in the third quarter of 2023, compared to a loss of Rs 41.8 crore in the same period last year. The company's revenue from operations increased by 34.4 percent while EBITDA surged by 43.8 percent. The stock gained over 25 percent in the last three months and an Independent Director and Head of IT have been appointed.

The Indian income tax department is investigating insurance companies for evading taxes in the years before April 1, 2023. They are claiming that these companies paid higher commissions to agents and intermediaries than allowed by IRDAI, and deducted these expenses improperly. This could result in a total of Rs 25,000 crore in demand notices being sent out by March-end, with possible penalties.

Reported Standalone quarterly numbers for Sandhar Technologies are: Net Sales at Rs 694.78 crore in December 2023 up 15.72% from Rs. 600.39 crore in December 2022. Quarterly Net Profit at Rs. 33.64 crore in December 2023 up 25.69% from Rs. 26.76 crore in December 2022. EBITDA stands at Rs. 71.80 crore in December 2023 up 16.52% from Rs. 61.62 crore in December 2022.

In December 2023, Ndr Auto Components reported standalone quarterly numbers with a net sales of Rs. 140.27 crore, up 32.66% from the same period in the previous year. Their net profit also increased by 60.03% to Rs. 6.81 crore, while EBITDA rose by 56.56%. However, their EPS decreased and their shares saw a significant return over the last 6 and 12 months.

POONA DAL & OIL INDUSTRIES reported a decrease in standalone quarterly numbers in December 2023 compared to last year. Net sales decreased by 45.73% while net profit and EBITDA also saw a decline. EPS decreased to Rs. 0.29 from Rs. 0.52. The company's expenses, including raw materials and employee costs, have also decreased. Promoters and promoter group holdings remain unchanged.

The Monetary Policy Committee has decided to keep the policy rate unchanged, citing uncertainties in the domestic and global economic outlook. Even though some expected a change in stance, the MPC will continue with its 'withdrawal of accommodation' approach. The Indian economy is projected to grow at 7.3% in FY24 and 7% in FY25.