Who wins and who loses after Budget 2024?
Fri, Feb 2, 2024 4:49 PM

Who wins and who loses after Budget 2024?

The interim budget's focus on fiscal discipline, infrastructure development, green energy, and research and development presents opportunities for sectors such as banking, clean energy, electronics, travel and tourism, agriculture, and research & development. Winners include banks, clean energy companies, electronics manufacturers, and tourism-related stocks.

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NIIT Q3 net profit marginally up at Rs 14.3 crore, revenue declines
Fri, Feb 2, 2024 4:38 PM

NIIT Q3 net profit marginally up at Rs 14.3 crore, revenue declines

IT training company NIIT reported a slight increase in net profit for the December 2023 quarter, with a rise of 0.56% from the year-ago period. Revenue from operations declined by 8.59%. The company is focused on expanding in the BFSI sector and increasing penetration in GCCs while also seeing a sequential recovery in business despite the hiring freeze in the technology sector.

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Mahindra Holidays jumps on Budget push, Q3 results and management change.
Fri, Feb 2, 2024 4:35 PM

Mahindra Holidays jumps on Budget push, Q3 results and management change.

Mahindra Holidays and Resorts saw its share prices rise over 3% on February 2 after a mention of the tourism sector in the budget speech. This sector is expected to see growth, benefiting companies like Mahindra Holidays. The company also reported strong earnings for the quarter ended December 2023, with a year-on-year increase in total income and net profit.

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Chennai: NGT slaps Rs 1 lakh penalty on CMDA for negligence
Fri, Feb 2, 2024 4:33 PM

Chennai: NGT slaps Rs 1 lakh penalty on CMDA for negligence

The National Green Tribunal fined CMDA and MRF for violating environmental laws by constructing a factory without proper clearance. The tribunal deemed both parties responsible for the damages caused and directed them to pay penalties. The SCZMA will now recommend proposals to SEIAA instead of granting CRZ clearances themselves in order to avoid further violations.

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Nifty to hit 23,400 by June, buy on dips in pre-election rally!
Fri, Feb 2, 2024 4:33 PM

Nifty to hit 23,400 by June, buy on dips in pre-election rally!

ICICI Direct predicts a pre-election rally and recommends investors to embrace market dips as a buying opportunity. They expect Nifty to hit 23,400 by June 2024 and suggest minimum returns of 14% in the election year. The brokerage also sees outperformance in PSU banks and recommends SBI, BoB, PNB, LIC Housing Finance, Union Bank, and PNB Housing Finance. In the IT sector, TCS, Infosys, HCL Tech.

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FM unveils comprehensive strategy for economic expansion in Union Budget
Fri, Feb 2, 2024 4:24 PM

FM unveils comprehensive strategy for economic expansion in Union Budget

Finance Minister Nirmala Sitharaman's interim budget stands out for its clarity of vision, emphasis on robust economic growth and commitment to community welfare. The government has reiterated its dedication to fortifying the backbone of our nation, the farmers, through the budget. It charts a course for equitable and sustainable agricultural expansion by extending direct financial assistance.

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Budget 2024 done and dusted. What now?
Fri, Feb 2, 2024 4:24 PM

Budget 2024 done and dusted. What now?

The Finance Minister walked away with kudos for not taking the populist route despite this being an election year and, perhaps more impressively, for prioritising fiscal consolidation with realistic assumption. A nominal GDP growth of 10.5% for FY25, with a 5.1% fiscal deficit, a net borrowings of Rs 11.73 crore with a modest 11% increase in capex spend sounds prudent and achievable.

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APM Industries Standalone December 2023 Net Sales at Rs 74.94 crore!
Fri, Feb 2, 2024 4:24 PM

APM Industries Standalone December 2023 Net Sales at Rs 74.94 crore!

Reported Standalone quarterly numbers for APM Industries are: Net Sales at Rs 74.94 crore in December 2023 down 13.98% from Rs. 87.12 crore in December 2022. Quarterly Net Profit at Rs. 1.19 crore in December 2023 down 74.35% from Rs. 4.64 crore in December 2022. EBITDA stands at Rs. 4.20 crore in December 2023 down 52.11% from Rs. 8.77 crore in December 2022.

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Blackstone-backed Aadhar Housing files Rs 5,000 cr IPO papers with Sebi
Fri, Feb 2, 2024 4:23 PM

Blackstone-backed Aadhar Housing files Rs 5,000 cr IPO papers with Sebi

Aadhar Housing Finance, backed by Blackstone, filed papers with Sebi for a Rs 5,000 crore IPO. The IPO will consist of a fresh issue of equity shares and an offer-for-sale by Blackstone. The company plans to use the proceeds for lending and general corporate purposes. Aadhar offers a range of mortgage loans for residential and commercial properties, with a focus on low-income customers.

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Taking Stock: Nifty hits new high, Sensex up 440 points; oil & gas shine.
Fri, Feb 2, 2024 4:20 PM

Taking Stock: Nifty hits new high, Sensex up 440 points; oil & gas shine.

The stock market reacted positively to the Interim Budget, with Nifty reaching a new high of 22,126.80 and Sensex gaining over 1,400 points. However, some profit-booking at higher levels resulted in closing off the day's high. Positive global cues and strong performance in sectors such as oil & gas and information technology contributed to the market's weekly gains of 2%.

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Madras HC suggests high-level panels to prevent illegal buildings
Fri, Feb 2, 2024 4:03 PM

Madras HC suggests high-level panels to prevent illegal buildings

The Madras high court suggests the constitution of high-level committees to prevent unauthorised constructions in corporations and municipalities. The court notes that several petitions have been filed regarding this issue, leading them to believe that such constructions cannot take place without the knowledge of authorities. Despite previous directives from the court, no action has been taken.

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Here are stocks with maximum 'buy' calls as Budget uncertainty ends
Fri, Feb 2, 2024 4:02 PM

Here are stocks with maximum 'buy' calls as Budget uncertainty ends

The Budget presentation on February 1 by Finance Minister Nirmala Sitharaman saw no major surprises, but the government's decision to limit borrowing has pleased investors. Nine out of the top 100 Nifty index stocks have no "sell" calls according to Bloomberg data, with banks like ICICI Bank, Axis Bank, and HDFC Bank being among them. ICICI Bank shows consistent growth, while HDFC Bank struggles.

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RITES Q3 result 2024: Profit drops 13% to Rs 129 crore
Fri, Feb 2, 2024 4:01 PM

RITES Q3 result 2024: Profit drops 13% to Rs 129 crore

RITES Ltd reported a 12.5% decrease in consolidated profit for the quarter ended December 31, 2023, compared to the same period last year. The company's income also dropped slightly. The chairman and managing director attributed this to their strategic decisions and steady growth in project consultancy revenue and EBITDA. RITES Ltd is a multidisciplinary engineering and consultancy organization.

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UltraTech Cement aims for zero net debt status by end-FY25
Fri, Feb 2, 2024 3:50 PM

UltraTech Cement aims for zero net debt status by end-FY25

UltraTech Cement, part of the Aditya Birla Group, saw a 67% increase in Q3 net profit and plans to drive down its debt through increased cash flow. The company expects high demand and utilization rates in Q4 and is aiming for a zero net debt position by March 2025. They have also acquired Kesoram Industries' cement business and may consider more acquisitions opportunistically.

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Hero MotoCorp shares hit all-time high on robust January sales
Fri, Feb 2, 2024 3:46 PM

Hero MotoCorp shares hit all-time high on robust January sales

Hero MotoCorp's shares rose to an all-time high after reporting a 22% increase in two-wheeler sales compared to the previous year. The company's motorcycle sales contributed the most to this growth. The Nifty Auto index also saw gains, with leading carmakers reporting their best-ever monthly sales in India. The overall auto wholesales registered an increase, thanks to strong SUV volumes.

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