Prime Minister Narendra Modi on Tuesday said India will witness a USD 67 billion investment in the natural gas supply chain in 5-6 years as part of "unprecedented" investments flowing into the energy sector to meet the needs of the world's fastest growing major economy. Modi said India's world-beating economic growth rate is fuelling a surge in energy needs.

FSN E-Commerce Ventures, the parent company of Nykaa, a popular beauty and personal care brand, reported a net profit of Rs 17.5 crore in the December quarter, up 105 percent from last year, thanks to strong demand during the festive and wedding seasons. This marks a doubling of net profit, with a 23 percent increase in revenue. These results are in line with the company's previous forecast.

Experts say the Paytm Payments Bank fiasco will make other payments banks adhere to regulations strictly. Former SBI officials believe the industry won't be much affected, but others disagree and think customers may move to rival banks. The ED may probe PPBL for money laundering, while JFS denies rumors of acquiring Paytm's wallet business.

The IPO lane is getting busy with three entities — Rashi Peripherals, Jana Small Finance Bank and Capital Small Finance Bank– set to float their maiden public issues on Wednesday to collectively mobilise around Rs 1,700 crore. Additionally, Entero Healthcare Solutions will launch its Rs 1,600-crore initial share-sale on February 9.

Welspun Corp, an Indian steel pipes maker, saw a significant increase in profit due to high demand for its products and booming steel consumption in India. The company expects continued growth as government spendings remain strong. However, expenses also surged, impacting their overall profits. Despite positive results, shares only increased slightly.

Petronet LNG Limited on February 6 said that it has successfully concluded and executed long term contract for purchase of 7.5 MMTPA LNG with QatarEnergy. This is pursuant to extension of an existing LNG supply contract of around 7.5 MMTPA LNG sale & purchase agreement on FOB basis, signed on 31st July 1999 for supplies till 2028.

✅ Amid positive global cues, benchmark indices closed on a positive note today. 📢 At 3:30 PM, the Sensex improved by 454.67 points or 0.63% at 72,186.09, and the Nifty was up 157.70 points or 0.72% at 21,929.40. 📊Among sectoral, Nifty IT (⬆️2.92%) turned out to be the best performer while Nifty PSU Bank (⬇️0.39%) saw considerable selling.

Finance Minister Nirmala Sitharaman presented the interim budget for fiscal year 2024-25, focusing on continuity of capital investments, transitioning to green economy, predictable tax regime, and improving taxpayer services. The budget also outlines plans to become a developed economy by 2047 and highlights the importance of green energy and defense sectors.

The Indian FMCG industry's volume grew by 6.4 per cent year-on-year in the October-December quarter with an uptick in consumption that was seen both in urban and rural areas, according to a report by analytics firm NielsenIQ. The report also highlighted a narrowing consumption gap between urban and rural markets for the first time in 2023.

The government on Tuesday informed Parliament that it has no proposal to increase the financial benefit to farmers under PM-KISAN scheme to Rs 8,000-12,000 per year. There is no proposal under consideration to increase the amount even for women farmers under the scheme, Agriculture Minister Arjun Munda said in a written reply to Lok Sabha.

Inflation and the U.S. presidential election will be the biggest drivers of global markets this year, while liquidity challenges are a growing focus, according to traders surveyed by JPMorgan. Some 27 percent of traders see inflation as having the biggest impact, followed by 20 percent for the November election, the survey published on Tuesday showed.

Amid raging speculation over the return of the BJP-led government for the third straight term and expectation of a pick-up in private capex, domestic institutions are waiting on the sidelines to raise their stakes in banks and financials. Banking stocks are seen as reasonably valued bets at a time when the market simmers on high valuations, said analysts.

InGovern Research has advised shareholders of Sanghi Industries to vote in favour of the resolutions related to the company getting into material related-party transactions with ACC, Ambuja Cements and Adani Enterprises.Gujarat-based Sanghi Industries, in which Ambuja Cements acquired a majority stake last year, has called for an extraordinary general meeting on Feb 8, Thursday.

Investing in a tax-saving Fixed Deposit (FD) with a bank stands out as a highly favored choice among investors seeking to leverage the benefits of Section 80C within the ambit of the Income Tax Act. Many individuals opt for this investment avenue for tax-saving purposes due to its perceived lower risk when compared to equities. It's crucial to note, though, that the tax-saving advantages.

TVS Supply Chain Solutions Ltd has reported a consolidated profit after tax for the October-December 2023 quarter at Rs 10 crore, the company said. The Global supply chain solutions provider had posted a consolidated PAT at Rs 17.2 crore, during the corresponding quarter of last year. Revenue from operations during the quarter under review on consolidated basis stood at Rs 2,221.8 crore.