The budget is fiscally responsible and growth-oriented with focus on long term development. 10/10 rating. Focused spending to boost sectors like EVs. G Pradeepkumar, CEO of Union Asset Management Company, rates the budget 10/10 as it shows fiscal discipline and focuses on long-term growth rather than short-term populism. It reaffirms their confidence in the prospects of the electric vehicle.

Orient Green Power plans to raise Rs 250 crore through a rights issue after revising the proposed size downwards. This renewable energy company has seen a surge in its stock price, driven by the government's focus on green energy in the Budget. It has also announced plans to develop solar projects in Tamil Nadu. For the quarter ended September 2023, the company reported a net profit of Rs 75 cr.

Tata Motors reported a two-fold increase in consolidated net profit at Rs 7,025 crore for Q3 FY24 due to high demand for vehicles in India and growth in Jaguar Land Rover models. Revenue also surged by 24.9% to Rs 110,577 crore. Analysts expected a 54% rise in net profit and 22% increase in revenue. Operating margin expanded to 13.94%. Domestic sales of MH&ICV and passenger vehicles increased.

The market reacted positively to the Interim Budget presented by Finance Minister Nirmala Sitharaman on February 1, with the Nifty hitting a new high. This budget was seen as a continuation of current policies and there were no major surprises. However, there may be concerns about a decrease in capex spend in the coming years, which could affect largecaps.

InterGlobe Aviation Ltd, the parent company of IndiGo, reported huge profits in the December quarter due to strong demand for air travel and a fuel surcharge introduced in October. Net profit rose 111% to Rs 2,998.12 crore while revenue surged by 30%. The airline carried 243.10 lakh passengers and had a market share of 62.1%, an increase from the previous year.

The Indian rupee slightly higher on Friday as dollar demand from state-run banks and importers eroded early gains on a fall in U.S. bond yields and positive sentiment following the presentation of India's federal budget.The rupee closed at 82.9175 against the dollar, compared to its previous close of 82.9650. For the week, the currency rose 0.2%.

The benchmark equity index Nifty 50 ended Thursday's trading session on a positive note after touching a lifetime high of 22,126.80. The NSE Nifty 50 closed 156.35 points or 0.72% higher to settle at 21,853.80 points. While S&P BSE Sensex gained 440.33 points lower or 0.61% to settle at 72,085.63 points. Flipping the trend, the sectoral-indice Nifty Bank lost 217.70 points.

The benchmark indices rose over a percent with the Nifty hitting a new high of 22,00o but failed to hold on to the gains and ended off the day 's high on February 2. The Sensex was up 440.33 points, or 0.61 percent, at 72,085.63, and the Nifty was up 156.30 points, or 0.72 percent, at 21,853.80.About 1,955 shares advanced, 1,753 declined and 86 remained unchanged.

Embassy REIT, a real estate investment trust, reported a growth in leasing and revenue during the third quarter of 2023. The total leasing of 3.5 million sq ft included new leases and pre-lease deals in Bengaluru. Global companies in BFSI, retail, and tech sectors accounted for most of the leasing. The company also had a strong performance in its hotel portfolio with increased occupancy.

The rupee gained 7 paise against the US dollar, closing at 82.91 due to a strong stock market and a weak greenback. The interim Budget for 2024-25, focusing on fiscal prudence, also had a positive impact. However, profit booking by FIIs and a potential rise in crude oil prices may limit any major gains. The US dollar weakened after the Bank of England kept interest rates unchanged.

The fiscal prudence in the interim budget presented on February 1, characterised by the commitment to adhere to the path of fiscal consolidation and achieving a fiscal deficit target of 4.5 percent of GDP by FY26, was necessary, Finance Secretary TV Somanathan said in a post-budget interview to Moneycontrol. The government has set a fiscal deficit target of 5.1 percent of GDP for FY25.

Hero MotoCorp, which has lorded over the traditional two-wheeler market for decades, is yet to crack the battery-driven scooter market, which it entered last year. However, the company is unfazed and claims it will gain a sizeable market share as it introduces products and services in the electric two-wheeler segment and the government phases out the financial support.

The Interim Budget in India stayed true to its word of prioritizing responsible spending, with a focus on key social and infrastructure milestones achieved in the past decade. The government showed confidence in economic growth, political continuity, and fiscal rectitude by aiming for a lower deficit and showcasing improvements in tax collections and spending mix.

The Sensex and the Nifty saw wild swings on February 2, falling sharply from the day's high due to profit-booking by investors. Analysts expect markets to test higher levels in the days to come, as uncertainties surrounding budget and US Fed's rate meeting dissipate. The Sensex was off 900 points from the day's high of 73,089, while the Nifty lost 227 points after hitting an all-time.

The interim budget's focus on fiscal discipline, infrastructure development, green energy, and research and development presents opportunities for sectors such as banking, clean energy, electronics, travel and tourism, agriculture, and research & development. Winners include banks, clean energy companies, electronics manufacturers, and tourism-related stocks.