Hero MotoCorp stock rose 3% to Rs 4,715.80 on February 2 as the company reported a 21.6% increase in January 2024 sales. Domestic sales were up 18%, while exports surged 74.6%. Despite touching a 52-week high of Rs 4,718.15, the stock ended lower after government reduced budget allocation for FAME schemes. Sharekhan and Prabhudas Lilladher have maintained positive ratings.

Paytm founder, Vijay Shekhar Sharma, thanked app users for their support amidst regulatory issues and assured stakeholders of compliance. Despite RBI's restriction on banking operations, Paytm is working to find solutions & comply with the directive. They are also discussing partnerships with other banks. The fintech community has shown support, but concerns over the impact on the ecosystem.

Top brokerages have varying recommendations for several companies. Goldman Sachs maintains a sell on Dr Lal PathLabs, JPMorgan downgrades Paytm to underweight with a lower target price, Jefferies holds on to Titan Company but reduces the target price, and remains bullish on Indian Hotels with a buy rating and higher target price.

Panacea Biotec's share price remained steady after receiving a notice from the USFDA classifying an inspection at its subsidiary as "Official Action Indicated". The company received 9 observations and will address them. Despite this, PBPL will continue to distribute products for the US market without any major impacts on current business. A meeting is scheduled for Feb 13.

Reported Consolidated quarterly numbers for Advik Capital are: Net Sales at Rs 209.63 crore in December 2023 up 457.76% from Rs. 37.58 crore in December 2022. Quarterly Net Profit at Rs. 0.46 crore in December 2023 down 87.55% from Rs. 3.68 crore in December 2022. EBITDA stands at Rs. 3.10 crore in December 2023 down 47.64% from Rs. 5.92 crore in December 2022.

Reported Consolidated quarterly numbers for Inditrade Capital are: Net Sales at Rs 40.37 crore in December 2023 down 1.48% from Rs. 40.98 crore in December 2022. Quarterly Net Profit at Rs. 0.83 crore in December 2023 down 21.21% from Rs. 1.06 crore in December 2022. EBITDA stands at Rs. 9.88 crore in December 2023 down 11.94% from Rs. 11.22 crore in December 2022.

Reported Consolidated quarterly numbers for Krishna Capital and Securities are:Net Sales at Rs 0.09 crore in December 2023 up 5.99% from Rs. 0.09 crore in December 2022.Quarterly Net Profit at Rs. 0.01 crore in December 2023 down 68.48% from Rs. 0.04 crore in December 2022.EBITDA stands at Rs. 0.04 crore in December 2023 down 20% from Rs. 0.05 crore in December 2022.

VST Tillers Tractors reported consolidated quarterly numbers for December 2023, showing a decrease in Net Sales by 20.46% and Net Profit by 13.18%. EBITDA also decreased by 14.61%, leading to a decrease in EPS from Rs. 22.49 to Rs. 19.53. VST Tillers shares closed at 3,178.80 on February 01, 2024, with a return of 3.97.

Market benchmarks Nifty and Sensex broke record highs on Feb 2 amidst bullish momentum and ended uncertainty over the Budget. The Sensex gained 1,298.04 points, or 1.81 percent at 72,943.34, while the Nifty rose by 382.70 points, or 1.76 percent at 22,080.20. Global cues, broad sector gains, and strong performances by major companies such as RIL and HDFC Bank.

In December 2023, Sterling Tools reported a 11.6% increase in net sales to Rs. 231.95 crore while its quarterly net profit decreased by 2.4% to Rs. 13.58 crore. EBITDA also saw a decrease of 2.09% to Rs. 28.11 crore. The EPS for the company decreased from Rs. 3.86 to Rs. 3.77. Over the last 6 months, Sterling.

This morning's top news includes the ongoing 20% drop in Paytm stock, reactions to the recent Indian budget from investment experts Shankar Sharma, Madhu Kela, Sandeep Tandon, and Prashant Jain, a 1% increase in Nifty and Sensex indices, the anticipation of IndiGo declaring record profits in their upcoming earnings report, Tata Motors' expected strong performance in Q3.

The share prices of HUDCO and NBCC India rose by up to 16% following Finance Minister Nirmala Sitharaman's promise in the Budget 2024 speech to develop 2 crore houses under the PM Awas Yojana (PMAY) Grameen in the next five years. The government has allocated Rs 80,671 crore for PMAY, a 49% increase from last year. HUDCO has seen a 360% rise in its stock price

Selected small renewable energy stocks in India have seen massive increases in their share prices, driven by retail speculation and the country's goal to boost clean energy. However, warnings signs indicate that these valuations are not sustainable, as production capacity increases and earnings struggle to keep up with gains. Similar patterns have been seen in other countries, such as the US.

Even as consumer discretionary major Titan Company missed analysts' estimates for the December ended quarter, a clutch of top brokerages retained their rating on the stock. Goldman Sachs and Nuvama reiterated their buy views, with the former expecting the Tata company to sustain its market share gains. Kotak Institutional Equities recommended an 'Add'.

With the vision of ‘Vikshit Bharat by 2047’, the Hon’ble Financial Minister Ms. Nirmala Sitharaman presented the Interim Budget for 2024-2025. Guided by the principle of ‘Reform, Perform and Transform’, the Government is committed to take up next generation reforms to realise the dream of developed India @ 2047. The 'Panch Pran' has indeed laid robust foundations.