The Vote-on-Account presented on Thursday by the Finance Minister, is an interim budget before the General Elections. A full-fledged budget is likely to be presented by the new Cabinet, possibly in July, following the conclusion of the election. The Finance Minister’s speech highlighted the advancements made by the Indian economy, progressing rapidly towards the goal of $5 trillion.

An analysis of the results of 33 Nifty companies shows operating profits outpacing sales, reflecting stable profitability. However, sales growth is yet to gather pace in a big way. In fact, as per Motilal a significant chunk of Nifty’s incremental earnings accretion is driven by a group of five companies and reflects uneven earnings performance in the benchmark index.

SBI Mutual Fund on Tuesday (February 6, 024) started subscription for its new thematic mutual fund- SBI Energy Opportunities Fund. The open ended equity fund will follow the energy theme. The fund house will provide regular and direct plans with growth and income distribution-cum-capital withdrawal (IDCW) options.

Bengaluru's Embassy Group has joined forces to develop a luxury residential project on 3.75 acres of land in Whitefield, with an estimated revenue of Rs 550 crore. The project is expected to be completed by FY24 and will include 400 apartments. Aditya Virwani, COO of the group, plans to launch 4 million square feet of residential space worth Rs 3,300 crore in FY23-24.

Reported Standalone quarterly numbers for Tokyo Finance are: Net Sales at Rs 0.20 crore in December 2023 up 10.66% from Rs. 0.18 crore in December 2022. Quarterly Net Profit at Rs. 0.05 crore in December 2023 up 9.15% from Rs. 0.04 crore in December 2022. EBITDA stands at Rs. 0.08 crore in December 2023 up 100% from Rs. 0.04 crore in December 2022.

Reported Standalone quarterly numbers for Moongipa Capital Finance are: Net Sales at Rs 2.76 crore in December 2023 up 357.3% from Rs. 0.60 crore in December 2022. Quarterly Net Profit at Rs. 0.59 crore in December 2023 up 609.43% from Rs. 0.08 crore in December 2022. EBITDA stands at Rs. 0.75 crore in December 2023 up 525% from Rs. 0.12 crore in December 2022.

With regulatory cloud hanging over Paytm Payments Bank, larger payments bank industry witnessed a roller-coaster ride of changes in its short history of 8 years. Starting from 2016, 11 entities received payment bank licences from the RBI. The RBI on Jan 31 imposed major business restrictions on Paytm Payments Bank including accepting fresh deposits and undertaking credit transactions after Feb 29.

Reported Standalone quarterly numbers for Aagam Capital are: Net Sales at Rs 0.01 crore in December 2023 down 39.47% from Rs. 0.01 crore in December 2022. Quarterly Net Loss at Rs. 0.03 crore in December 2023 down 14.98% from Rs. 0.02 crore in December 2022. EBITDA stands negative at Rs. 0.03 crore in December 2023 down 50% from Rs. 0.02 crore in December 2022.

Reported Standalone quarterly numbers for Indus Finance are: Net Sales at Rs 0.66 crore in December 2023 up 62.1% from Rs. 0.41 crore in December 2022. Quarterly Net Profit at Rs. 0.10 crore in December 2023 up 2808.57% from Rs. 0.00 crore in December 2022. EBITDA stands at Rs. 0.39 crore in December 2023 up 290% from Rs. 0.10 crore in December 2022.

Reported Standalone quarterly numbers for Mudra Financial Services Ltd. are: Net Sales at Rs 0.33 crore in December 2023 up 90.71% from Rs. 0.17 crore in December 2022. Quarterly Net Profit at Rs. 0.16 crore in December 2023 up 358.26% from Rs. 0.03 crore in December 2022. EBITDA stands at Rs. 0.20 crore in December 2023 up 233.33% from Rs. 0.06 crore in December 2022.

Reported Standalone quarterly numbers for Crest Ventures are: Net Sales at Rs 39.06 crore in December 2023 up 114.9% from Rs. 18.18 crore in December 2022. Quarterly Net Profit at Rs. 7.59 crore in December 2023 up 8.21% from Rs. 7.01 crore in December 2022. EBITDA stands at Rs. 17.32 crore in December 2023 up 29.35% from Rs. 13.39 crore in December 2022.

Reported Standalone quarterly numbers for Indo-City Trades and Finance are: Net Sales at Rs 6.08 crore in December 2023 down 12.13% from Rs. 6.92 crore in December 2022. Quarterly Net Profit at Rs. 0.21 crore in December 2023 up 350.22% from Rs. 0.05 crore in December 2022. EBITDA stands at Rs. 0.28 crore in December 2023 up 250% from Rs. 0.08 crore in December 2022.

Reported Standalone quarterly numbers for K K Fincorp are: Net Sales at Rs 0.05 crore in December 2023 down 88.95% from Rs. 0.43 crore in December 2022. Quarterly Net Loss at Rs. 0.00 crore in December 2023 down 101.28% from Rs. 0.36 crore in December 2022. EBITDA stands negative at Rs. 0.01 crore in December 2023 down 102.63% from Rs. 0.38 crore in December 2022.

Reported Standalone quarterly numbers for Best Agrolife are: Net Sales at Rs 347.85 crore in December 2023 up 46.43% from Rs. 237.55 crore in December 2022. Quarterly Net Loss at Rs. 11.54 crore in December 2023 down 225.5% from Rs. 9.20 crore in December 2022. EBITDA stands at Rs. 0.72 crore in December 2023 down 96.91% from Rs. 23.29 crore in December 2022.

The Central government's budget announced that it will withdraw notices for old, petty tax demands, bringing relief to over 1 crore taxpayers. However, many unresolved tax disputes, especially those outside the waiver, continue to be a burden for taxpayers. One such case is of a senior citizen who ended up paying Rs 33,338 against an original demand of Rs 12,340 due to a technical mistake.