On February 2, the Mahindra Group announced changes in its businesses, including a new CFO and MD/CEO for different companies. Barua will become the group CFO on May 17, 2024 while Bhat will take on the role of MD/CEO at MHRIL from the same date. Agarwal will also switch roles within the group and new talent, Bapat, will join as CFO of MLDL. Current executive Kavinder Singh will be leaving.

The RBI directed Paytm Payments Bank to stop accepting deposits and conducting credit transactions, leading to a 20% decrease in the stock price of its associate company, One97 Communication. Brokerages downgraded the rating on the stock and market capitalization fell by Rs 9,666 crore. The company is working to reduce its dependency on Paytm Payments Bank.

The Indian government plans to reduce reliance on imported edible oils by promoting domestic production and investing in post-harvest activities for better market linkages. They aim to achieve self-sufficiency through strategies like the Atmanirbhar Oilseeds Abhiyan and expanding usage of nano diammonium phosphate fertiliser. Efforts will also be made to increase value addition in the agriculture.

India and Nepal signed MoUs for three projects in education, health, and culture sectors, worth NRs 122.52 million. These projects aim to enhance cultural linkage and have been implemented through local authorities. India has undertaken over 550 high impact projects in Nepal since 2003, and completed 488, with the remaining 62 ongoing. The total cost of all projects is around NPR 1220 crore.

BJP MP Jayant Sinha discussed the four pillars of Modinomics 3.0, which aim to establish macroeconomic stability, focus on infrastructure and capital expenditure, uplift the marginalized, and create jobs by investing in youth development. The goal is to make India a global superpower by building a 'Viksit Bharat'.

On February 1, GIFT Nifty traded with marginal gains as Finance Minister Nirmala Sitharaman presented the Interim Budget with no major announcements. The market had a positive start but closed near day's low due to lack of big news. Foreign institutional investors were net sellers while domestic institutional investors were net buyers. US stocks rose ahead of earnings from big companies .

The Nifty index has bounced back from its recent low and is showing a bullish trend before the upcoming Budget announcement. Stocks like Vedanta and Vardhman Textiles are expected to continue their uptrend based on technical indicators, with recommended buy ranges and stop losses provided for potential investors.

Shares of RITES, a transport infrastructure consultancy and engineering firm, dropped 3.8% after reporting its Q3FY24 results. Operating revenue was Rs 683 crore, EBITDA was Rs 171 crore, and net profit was Rs 129 crore. The company secured orders worth more than Rs 612 crore and declared a third interim dividend of Rs 4.75 per share. Chairman Rahul Mittal aims for aggressive growth.

The Interim Budget, marking the final budget before general elections, had no major surprises for investors. Ongoing earnings season, interest rate decisions, and global factors like US bonds and geopolitical developments will drive the market. Bank of England's monetary policy and other central bank meetings, along with the Red Sea turmoil and upcoming elections in India and globally.

Ador Multiproducts reported standalone quarterly numbers for December 2023, with a net sales of Rs. 0.84 crore, down 37.7% from the same period last year. Quarterly net loss was Rs. 0.57 crore, up 21.72%. EBITDA stood negative at Rs. 0.03 crore, up 95.31%. Share price closed at Rs. 39.92 on BSE, with a 23.

Godrej Agrovet, a leading agriculture and animal nutrition services provider, reported its standalone quarterly results for December 2023. While net sales increased by 4.56%, profits decreased by 27.73%, resulting in a decrease in EPS. The company's shares have given positive returns over the last 6 and 12 months, trading at Rs. 566.45 on NSE.

The share price of Gokaldas Exports rose by 4% after the company announced its agreement to acquire the apparel business of Matrix Clothing for an enterprise value of Rs 489 crore. This acquisition will increase the company's foothold in major international markets and is reflected in their quarterly financials, with a 6% increase in revenue and 25% decrease in profit after tax.

Paytm, the popular fintech company which runs Paytm and Paytm Payments Bank, saw its stock crash by 20% for the second day in a row following RBI's ban on offering banking services due to non-compliance. This has resulted in a long queue of sellers and various brokerages have downgraded the stock. Experts suggest that Paytm may face reputational concerns and a decrease in revenues.

Hero MotoCorp stock rose 3% to Rs 4,715.80 on February 2 as the company reported a 21.6% increase in January 2024 sales. Domestic sales were up 18%, while exports surged 74.6%. Despite touching a 52-week high of Rs 4,718.15, the stock ended lower after government reduced budget allocation for FAME schemes. Sharekhan and Prabhudas Lilladher have maintained positive ratings.

Paytm founder, Vijay Shekhar Sharma, thanked app users for their support amidst regulatory issues and assured stakeholders of compliance. Despite RBI's restriction on banking operations, Paytm is working to find solutions & comply with the directive. They are also discussing partnerships with other banks. The fintech community has shown support, but concerns over the impact on the ecosystem.