BLS E-Services' IPO listing on February 6 saw a premium of 128.9% over the IPO price of Rs 135, as expected by analysts. The IPO was subscribed 162.47 times, with high net worth individuals being the top investors. The company plans to use the funds for technology infrastructure, organic growth and acquisitions. Its major customer is State Bank of India and it operates in BC, e-governance.

Rupee stays flat at 83.03 against USD, supported by positive domestic equity markets and continued foreign fund inflow. Investors cautious ahead of Reserve Bank's MPC meeting on Thursday. US dollar trading slightly lower, boosted by strong US economic data. Crude oil prices decline in overseas market. Indian services sector growth hits six-month high in January.

The Karnataka High Court has directed the state government to recover homebuyers' money from the delayed Ozone Urbana project in Bengaluru within four months. The delayed execution of the Karnataka RERA order by the state government has left homebuyers in limbo, with over Rs 245 crore yet to be recovered. Legal experts suggest alternative solutions such as identifying auctionable assets.

BLS E-Services opened at a premium of 126% at Rs 305. The stock was trading at a premium of Rs 155 in the grey market.  The grey market is an unofficial market where shares are traded before the listing on the bourses.   The company set its IPO’s price band at Rs 129-135 per equity share. BLS E-Services’ initial public offer was opened for retail investors on 30th January.

Shares of Jio Financial Services fell by 7% due to rumors of a potential acquisition of Paytm's wallet business. However, both Jio and One 97 Communications have denied any negotiations in this regard. This acquisition would have given Jio a boost in the competitive payment solutions market dominated by players like Phonepe and Google Pay. Jio already owns Jio Payments Bank.

The price of gold continued to fall on Tuesday due to a strong US dollar and positive economic data. On MCX, April gold futures were trading at 62,258 per 10 grams, down 0.09%, while silver contracts were down 0.06%. On the global market, gold futures were trading slightly lower at $2,042.40 per troy ounce, while silver futures were up slightly. Gold prices have declined by 1.4% YTD.

BSE's stock prices dropped by 7% despite strong Q3 FY2024 earnings. Net profit doubled to Rs 108 crore and revenue grew by 79%. However, sequential bottomline declined by 10.2%. BSE plans to expand its presence in the value chain for future growth. Brokerage firm Motilal Oswal maintains a neutral rating with a one-year target price of Rs 2,725. The stock has performed well over the past 12 months.

FM Sitharaman announced an interim budget targeting a 5.1% deficit of the GDP in FY 2024-25, with emphasis on fiscal consolidation. The budget includes significant capital spending, allocation for renewable energy and railways. Moneycontrol analyzedtop "buy" and "sell" stocks in the Nifty 100 index, with ICICI Bank and HDFC Bank among the top buys, and Wipro and LTI Mindtree.

Central Bank of India, a public sector bank, has seen a significant increase in its stock price over the past 6 months, more than doubling investor wealth. Experts suggest short-term traders can buy the stock as momentum remains strong and could take the stock towards 80 in the next 3 months. The stock benefited from a breakout on monthly charts and hitting a fresh 52-week high.

Though still facing challenges, the Paytm stock appears to have hit a bottom after days of continuous decline. Bernstein has given it an outperform rating with a target price of Rs 600, citing its undervaluation and potential for growth. Regulatory action may impact sentiment but the company is expected to adapt and overcome any restrictions. RBI's consideration of cancelling banking license.

Bernstein maintains an outperform rating on Paytm with a target price of Rs600, while Jefferies has a buy view on Varun Beverages with a target of Rs1480. Macquarie recommends an outperform on Bharti Airtel with a target of Rs990, and a neutral rating on Kasai Nerolac, showcasing a healthy upside in their conservative base case scenario despite regulatory actions.

Indian equity markets opened higher on Tuesday despite mixed global cues. Tech heavyweights like Infosys, TCS and HCL Tech drove the gains. The Sensex was 25 points higher at 71,980 and Nifty50 was trading above 21,800 at around 9:41 am. Experts suggest that there are no positive triggers to sustain new highs immediately, but the US economy is doing well, which may support global markets.

Four companies have received approval from the Securities and Exchange Board of India to launch initial public offerings. These include Hyatt brand operator Juniper Hotels, real estate firm Arkade Developers, logistics company CJ Darcl Logistics, and Indo Farm Equipment, a manufacturer of tractors and farm equipment. The IPO plans for two other firms, Kronox Lab Sciences and Shree Tirupati Balajee

Bajaj Electricals Ltd reported a 38.87% decline in net profit for the December quarter, with revenue from operations also down by 6.2%. The company's total income decreased by 1.28%, mainly due to lower revenues from its Consumer Products business. However, their Lighting Solutions business showed a strong performance, with an increase in EBIT and stable margins.

Keus Smart Home, a Hyderabad-based startup in the smart home automation space, has raised Rs 100 crore in its first external funding round. The round was led by OAKS Asset Management with participation from the company's founders and other early backers. Keus plans to use the funds to expand their presence in major cities, develop new product offerings, and establish themselves as a market lead.