PB Fintech and its subsidiaries Policybazaar and Paisabazaar are being scrutinized by the income tax authorities for regulatory lapses and non-compliance with KYC regulations. The company may face assessment proceedings after the IT department conducted a survey and found issues with regulatory compliance. Premji Invest and Claymore Investments have recently sold stakes in PB Fintech.

The US is facing a challenge in the electric vehicle sector, both in developing its own industry and protecting national security from China's advanced technology. This raises concerns about data collection and technology transfer. To address this, the US could seek joint ventures with Chinese companies that want to enter the American market, while also harnessing their technological know-how.

Domestic markets opened positively despite negative global cues on February 6. The Sensex and Nifty 50 were up by 0.33%. The US market ended lower after the US Fed signaled a possible delay in interest rate cuts. The Bank Nifty experienced a decline of 0.2%. On the Nifty, Bharti Airtel, TCS, UltraTech Cement, Dr Reddy's Labs, and HCL Tech were gainers, while Power Grid Corp.

When the Indian monetary authority began giving out restricted banking licenses to a new category of payment facilitators about eight years ago, it should have spared a thought to their orderly resolution — just in case it had to shutter any of them. As the deepening crisis at Paytm Payments Bank Ltd. shows, the regulator didn’t do its homework.

Novartis is acquiring cancer treatment developer MorphoSys for 2.7 billion euros, adding a new rare bone-marrow cancer treatment to their portfolio. This deal will take MorphoSys private and is contingent on certain conditions. Novartis will own pelabresib, a promising drug used to fight deadly cancers. MorphoSys management recommends shareholders accept the offer and plan to file.

Bharti Airtel saw a jump in its share price after its Q3 earnings report was released. Analysts from Macquarie and Motilal Oswal maintained positive ratings on the company. While Macquarie has an outperform rating with a target price of Rs 990, Motilal Oswal recommended a buy. However, the company's profits missed estimates due to lower growth in India Enterprise and increased interest costs.

Paytm's stock falls 42% in 3 days due to regulatory trouble and investigation reports. Retail investors, mutual funds, and FIIs are now trapped after raising their stakes in the company. Analysts advise against buying until regulatory issues settle down and business stabilizes. Within just three days, Paytm's stock has plummeted by 42%, leaving retail investors, mutual funds, and FIIs trapped.

Tech giant Snap announced it will cut 10% of its global workforce, or around 528 employees, in an effort to reduce costs and improve revenue growth. The company has long struggled to compete with larger rivals like Facebook and is facing economic uncertainty. This move could be an attempt to appease investors, who have rewarded competitors for cost-cutting measures. Snap expects pre-tax charges.

Reported Standalone quarterly numbers for Bikaji Foods International are: Net Sales at Rs 613.14 crore in December 2023 up 22% from Rs. 502.59 crore in December 2022. Quarterly Net Profit at Rs. 49.09 crore in December 2023 up 65.17% from Rs. 29.72 crore in December 2022. EBITDA stands at Rs. 82.01 crore in December 2023 up 55.73% from Rs. 52.66 crore in December 2022.

Ashok Leyland's shares rose by 4% to Rs 186 after reporting a 60% increase in profit to Rs 580 crore. This was due to strong demand for its products in both the MHCV and LCV segments in the October-December quarter. The company's revenues also grew by 2.7%, reaching Rs 9,273 crore. With an EBITDA of Rs 1,114 crore, Ashok Leyland achieved double-digit percentage growth.

Reported Standalone quarterly numbers for Dalmia Bharat Sugar and Industries are: Net Sales at Rs 583.59 crore in December 2023 down 2.73% from Rs. 599.99 crore in December 2022. Quarterly Net Profit at Rs. 62.11 crore in December 2023 down 4.31% from Rs. 64.91 crore in December 2022. EBITDA stands at Rs. 132.94 crore in December 2023 down 1.72% from Rs. 135.26 crore in December 2022.

In the December 2023 quarter, Sri Chakra Cements saw a decrease in net sales by 7.09% to Rs. 55.83 crore and net profit by 12.37% to Rs. 0.99 crore compared to the same quarter in 2022. However, EBITDA increased by 80.05%. Expenses increased for raw materials, employees, and other expenses. Other income also increased.

Orient Cement reported standalone quarterly numbers for December 2023, showing an increase in net sales by 2.6% and net profit by 63.5%. Their EBITDA also saw a growth of 28.26%. Their EPS has increased to Rs. 2.20 and their shares closed at 267.10 on February 05, 2024 with a return of 50.35% over the past 6 months.

BLS E-Services, a digital service provider, had a successful IPO with the shares listing at a premium of 128.9% on BSE and 125.9% on NSE. The IPO was oversubscribed by over 160 times, with strong interest from all categories. The company plans to use the proceeds for technology infrastructure and growth initiatives. Its revenue and profit have shown significant growth in recent years.

Everest Industries reported a decrease in net sales, net profit, and EBITDA in the December 2023 quarter compared to the same period in 2022. The company's EPS also decreased from Rs. 3.52 to Rs. 0.99. The stock has seen significant returns over the past 6 and 12 months. Promoters and promoter group of the company do not have any pledged shares.