Greaves Cotton Ltd, a leading engineering company in India, has achieved significant growth in Q3FY24 with an increase of 21% in standalone revenues and 30% in consolidated revenue. The company's diversified strategy and focus on green fuels and electric mobility demonstrate its commitment to innovation. They have also expanded their operations in the USA, EU, and Nepal, and their B2C business.

Raghuvir Synthetics reported a significant increase in net sales, net profit, and EBITDA for the quarter ending December 2023 compared to the same quarter in 2022. The company's earnings per share (EPS) also showed growth. The shares of Raghuvir Synthetics closed at 139.40 on February 07, 2024, with a return of 13.20% over the past 6 months.

RVNL's net profit fell 6.2% in Q3FY24, with a decline of 6.4% in revenue from operations. However, income from other operations rose 16.6%, cushioning the fall in bottom line. Sequentially, net profit fell 9.1% while revenue decreased 4.6%. Analysts had raised concerns over falling topline. Recently, RVNL was conferred Navratna status, granting more authority and operational freedom.

The Nifty 50 and Sensex closed in the red with declines of 0.97% and 1% respectively. Nifty Bank also dropped 1.76%. Continued consolidation with a negative bias is expected, with support at 21500-21435 for Nifty and 44430-44000 for Bank Nifty. The RBI's focus on inflation and liquidity could delay interest rate cuts, causing uncertainty in the market.

To build a successful computer and electronics manufacturing industry, India must focus on exports, not just the domestic market. The US has urged India to create a more transparent and business-friendly environment to attract foreign investment. Cutting import duties is crucial as higher tariffs make Indian products less competitive in the global market.

On Feb 8, eight Nifty 50 stocks reached a new 52-week high while the benchmark indices remained within a range as the RBI kept the repo rate unchanged at 6.5%. Aggressive long build-up was seen in PowerGrid and Trent shares, while private banks like Axis Bank and ICICI Bank showed weakness. Market may expect a possible rate cut in the later part of the year due to reduced inflation expectations.

RBI proposes additional use cases for CBDC pilot projects, including programmability and offline functionality. This will allow government agencies to ensure payments for defined benefits and corporates to program specified expenditures. Additional features like validity period and geographical areas can also be programmed.

British American Tobacco (BAT) plans to partially sell its 29.03% stake in India's largest cigarette maker, ITC Ltd, as part of its efforts to create financial flexibility. This follows the company's recent divestment of assets and exit from certain markets. However, the stake sale process is complex due to a 100-year history with ITC and India's foreign direct investment rules.

Reported Consolidated quarterly numbers for EFC (I) are: Net Sales at Rs 172.08 crore in December 2023 up 553.9% from Rs. 26.32 crore in December 2022. Quarterly Net Profit at Rs. 16.53 crore in December 2023 up 671.3% from Rs. 2.14 crore in December 2022. EBITDA stands at Rs. 62.66 crore in December 2023 up 1071.21% from Rs. 5.35 crore in December 2022.

State Bank of India plans to sell its entire stake in Yes Bank, with a block deal being the preferred method. The sale is estimated to be worth Rs 5000-7000 crore and will help boost SBI's balance sheet liquidity. There will be no taxes or lock-in period for SBI on the sale of shares. The decision is expected to be discussed soon by the SBI Board.

Power Grid Corporation's share price rose nearly 7% after reporting profitable quarter and announcing second interim dividend of Rs 4.50 per share. The stock is near its 52-week high of Rs 289.40 and has gained 80% in the last year, outperforming the Nifty's 23% return. Revenue and EBITDA increased marginally, expenses were down. Trent shares also surged 23% due to strong Q3 results.

Goa's Chief Minister presented a budget for the year 2024-25 with a revenue surplus of Rs 1,720 crore and an expected GSDP growth of 13.87%. He also announced an amnesty scheme for illegally operated homestays and received financial assistance from the Centre. Despite liabilities, no additional taxes were imposed due to effective measures like curbing revenue leakages.

On Thursday, gold prices in India fell by Rs 70 to Rs 63,300 per 10 grams due to a drop in the global market. Silver prices remained unchanged at Rs 74,600 per kilogram. HDFC Securities' Senior Analyst predicts that spot gold prices will continue to follow international trends. In the global market, gold was trading at USD 2,029 per ounce while silver saw a slight increase at USD 22.29 per ounce.

Monte Carlo Fashions reported a 2.95% decrease in net sales and a 10.47% decrease in net profit for the quarter ending December 2023 compared to the same period in 2022. EBITDA also decreased by 6.25% and EPS went down from Rs. 41.63 to Rs. 37.27. Despite these declines, the company's shares on NSE closed at 682.65.

In the December 2023 quarter, KPR Mill reported a decline in net sales of 13.28% compared to the same period in 2022. However, their quarterly net profit increased by 7.15%, with EBITDA also showing a 6.26% increase. EPS has also risen from Rs. 5.11 to Rs. 5.47. The company's shares closed at 779.05 on February 07, 2024.