India's export of petroleum products fell to a 15-month low in Jan due to tensions over the Red Sea, causing exporters to hold back shipments. Many tankers opted for the longer route via the Cape of Good Hope, resulting in higher shipping costs. Top buyers were UAE, Netherlands, and Malaysia. India's own domestic consumption is also expected to see only a modest 3% growth in the next fiscal year.

KEC International reported standalone quarterly numbers for December 2023, with a 13.71% increase in net sales at Rs. 4,397.76 crore. The net profit saw a significant growth of 198.73% at Rs. 44.05 crore, compared to the same period last year. EBITDA also increased by 30.9%. The company's EPS has risen to Rs. 1.71.

Reported Standalone quarterly numbers for Larsen & Toubro are: Net Sales at Rs 31,600.92 crore in December 2023 up 13.73% from Rs. 27,785.41 crore in December 2022. Quarterly Net Profit at Rs. 2,136.18 crore in December 2023 up 17.02% from Rs. 1,825.44 crore in December 2022. EBITDA stands at Rs. 3,684.65 crore in December 2023 up 16.98% from Rs. 3,149.81 crore in December 2022.

Voltas reported strong standalone quarterly numbers, with net sales at 1,587.50 crore in December 2023, up 11.59% from the same period last year. Net profit also saw a significant increase of 119.61% to Rs. 97.33 crore, while EBITDA jumped 95.73% to Rs. 143.43 crore. EPS has increased to Rs. 2.94 and the stock closed at 1,094.05.

Cheviot Company's standalone quarterly results for December 2023 showed a decrease in net sales by 16.37% from the same period in 2022, but an increase in net profit by 40.55% and EBITDA by 31.25%. The EPS also increased to Rs.29.78 from Rs.21.19. The company's shares closed at 1,471.70 on January 31, 2024.

Nirmala Sitharaman's budget speech on February 1 may address the issue of making the National Pension System (NPS) more appealing to central government employees, who had previously received a guaranteed pension under the Old Pension Scheme (OPS). A committee headed by Finance Secretary TV Somanathan is expected to release a report during the Budget session.

The consumer durable industry is hopeful for changes in the upcoming interim budget that could accelerate growth. This includes a possible reduction in GST rates and extending schemes such as Pradhan Mantri Awas Yojana. Slashing import duties on components and expanding PLI schemes may boost production and sales.

Swan Energy reported a decrease in quarterly performance with net sales at Rs. 68.00 crore, down 26.57%, and net profit at Rs. 0.36 crore, down 19.34% compared to the same period in 2022. EBITDA also declined by 23.62%. The EPS has decreased to Rs. 0.01 and the stock closed at Rs. 639.05, giving 191.27% returns over 6 months.

RBI's restrictions on Paytm Payments Bank have led to downgrades from brokerages, with Jefferies lowering target price to Rs 500/share citing reputational risks. EBITDA expected to be down by 46% in FY25/26E due to cuts in payments and lending revenues. Macquarie also expects significant long-term impact on revenue and profitability.

In December 2023, Arvind reported standalone quarterly numbers showing a decrease in net sales by 4.99% from the previous year but an increase in net profit by 11.64%. EBITDA also saw a rise of 13.17%. EPS has increased to Rs. 3.47. The company's shares closed at 315.00 and have given a return of 128.10% over the last 6 months.

Top Microsoft and Alphabet executives are visiting India to promote AI adoption and court the country's millions of programmers. Microsoft CEO Satya Nadella will address developers in Bangalore and Mumbai, while Google's Jeff Dean will speak at a fireside chat. Both express the importance of India in the AI sector, with its large pool of talented programmers.

The impact of the Indian budget on the stock market is often short-lived, with markets usually returning to normal after a few trading sessions. What truly matters for investors is the impact on earnings in the medium to long term. History shows that when market valuations are high, there may be a negative one-month return after the budget, but this is not currently the case in India.

Real estate market in Mumbai is expected to see a 21% increase in property registrations in January due to strong demand for residential units. However, this is an 11% decrease from last month's numbers. The premium segment is performing well and the overall positive trend is likely to continue throughout the year with favourable economic conditions.

HeidelbergCement India Ltd reported a significant increase in net profit to Rs 31.47 crore for the December quarter, driven by reduced operating costs. Its total revenue also saw a 12.4% growth. The company attributed this to a 10% increase in volume and 2% price hike. Operating costs per tonne decreased by 2.4% due to lower coal and petcoke costs. However, total expenses rose by 6.43%.

ESMA, the European regulator, is in talks with India's central bank about a dispute over how domestic bonds are traded. ESMA had de-recognised the CCIL, the platform for trading Indian government bonds, due to lack of audit and inspection rights. This affects European banks such as Deutsche Bank, BNP Paribas, Societe Generale, and Credit Agricole, who now face higher capital requirements.