The interim budget 2024 showed a focus on fiscal prudence and prudent spending without any populist measures, especially with an upcoming election. The government aims to reduce the fiscal deficit target for FY25 to 5.1% and further to 4.5% for FY26. The budget has a positive impact on sectors like auto, cement, telecom, and financials, while equity markets are expected to remain neutral.

BLS E-Services successfully raised Rs 310.91 crore through its IPO, which was subscribed 162.47 times on the last day of bidding. Retail investors bid 237 times, HNIs picked 300.14 times and QIBs bought 123.3 times the allotted quota. The company plans to use the funds for strengthening technology infrastructure, organic growth initiatives, and inorganic growth through acquisitions.

The market is expected to remain rangebound in the coming sessions with immediate resistance at 21,850 for Nifty and support at 21,500. A clear breakthrough above 21,850 could lead to a rally towards previous highs, while failure to surpass this hurdle may lead to consolidation or a corrective phase. The Interim Budget and FOMC meet outcome did not significantly impact the market.

Real estate industry players in Kolkata believe that a new scheme aimed at providing affordable housing for the middle class will help stimulate sales, which have been affected by rising home loan interest rates and prices. This scheme would also lead to development in areas like Joka, Sonarpur, and Rajarhat. The introduction of targeted schemes and existing measures will incentivize developers.

The Karnataka State Government is developing a separate act to regulate rules and guidelines for apartments, as the existing laws are inadequate. The proposed draft aims to address issues related to maintenance, plan approval, environmental concerns, and dispute resolution. Once finalized, it will undergo public scrutiny and is expected to take a few months before implementation.

The town and country planning department (DTCP) has clarified that under the Affordable Group Housing Policy, developers are responsible for providing free maintenance services and upkeep of common areas, lifts, and sewage treatment plants. The developer can charge allottees for power, water, and garbage collection, and any repairs done after taking possession of the flat.

Gold prices are expected to close the week with their largest gain in seven weeks due to a weakening dollar and Treasury yields. U.S. jobs data will determine when the Federal Reserve may lower interest rates. Other factors driving gold's rise include concerns over the regional banking sector, low bond yields, and a potential rate cut in May as indicated by interest rate probability app IRPR.

The government plans to borrow less in the next fiscal year, resulting in a smart rally in bond markets. Yields on 10-year benchmark bond fell by 8 basis points as investors expect interest rate cuts and improved liquidity from RBI. The inclusion of Indian bonds in global indices is expected to attract foreign investment and further decrease yields.

The government's decision to lower its gross borrowings for FY25 will benefit corporate houses seeking to raise capital at competitive rates through corporate bonds. This move by the Centre, as announced in the interim Budget, has already resulted in a decrease in bond yields and is expected to make funds more accessible for the private sector. This could lead to potential growth and investment.

📌Hero MotoCorp maker recorded total sales at 4,33,598 units in January 2024, 📌Eicher Motors: sold 76,187 motorcycles in January this year. 📌RITES has registered a 12.5 percent on-year decline in consolidated profit at Rs 128.8 crore. 📌Ashok Leyland recorded sales of 15,939 units in January 2024. 📌Bata India recorded net profit at Rs 57.3 crore for the October-December period of FY24.

Finance Minister Nirmala Sitharaman delivered a pro-growth Budget on February 1, 2024, with the mantra of Sabka Sath, Sabka Vikas.The number that caught the attention of not only analysts but various numerologists as well was the capital expenditure number which was Rs 11.11 lakh crore for FY24-25.The angel number 1111 carries profound significance and guidance. It is believed to hold a message.

In many ways, Finance Minister Nirmala Sitharaman’s interim Budget sets the tone for the Viksit Bharat roadmap – with a mix of strong fiscal consolidation, robust infrastructure and an innovation-focused future. The agenda for financial inclusion remains paramount, encompassing various aspects such as food security, housing, and overall economic stability.

During the interim budget, Finance Minister Nirmala Sitharaman outlined five principles for India's growth: using social justice as a governance model, focusing on outcomes rather than outlays, prioritizing the needs of the poor, women, youth and farmers, leveraging digital infrastructure, and addressing demographic challenges. She emphasized the importance of transparency and delivery.

Five stocks -- Indus Towers Ltd, PB Fintech Ltd, EID Parry India Ltd, Tata Consumer Products Ltd and Godrej Properties Ltd -- saw a huge spurt in volumes on Bombay Stock Exchange on the Budget day. Indus Towers stock saw huge volumes with around 22.84 crore volumes and turnover of around Rs 4,841 crore. The stock saw a huge block deal, where around 19.77 crore shares or 7.3 percent stake.

The Central government has proposed to keep investments in 11 state-owned steel companies at Rs 10,325 crore in the Union Budget 2024-2025, at par with the investments proposed last year, according to budget documents. This compares to a revised estimate of Rs 10,358 crore in 2023-2024. Finance Minister Nirmala Sitharaman did not announce any outlay for the steel sector in her budget speech.