Highlights Rail capex up 1.9 percent Three rail corridors for energy, minerals, and cement More trains to be upgraded to Vande Bharat standard Defence allocation broadly unchanged The government has broadly maintained its capital allocation, including that for defence and railways, despite adhering to the fiscal glide path. Post Covid, railways have been in the limelight, attracting attention.

In January, Ashok Leyland's total vehicle sales dropped by 7%, with a decline of 8% in MHCV sales and 7% in LCV sales. The company sold 15,939 units compared to 17,200 units in the same month last year. This decrease is attributed to a decrease in demand for both medium and heavy commercial vehicles as well as light commercial vehicles.

The Interim Budget for 2024 did not have any major announcements, disappointing the equity market. However, there were some sector-specific measures that brought gains for certain stocks. Housing finance companies saw a rise due to the government's push for affordable housing and renewable energy companies also gained with the announcement of assistance for rooftop solar systems.

Mutual funds are a popular investment option for individuals looking to grow their wealth while managing risks. Systematic Investment Plan (SIP), Systematic Withdrawal Plan (SWP), and Systematic Transfer Plan (STP) are common strategies investors use to navigate the dynamic world of mutual funds. Each strategy has its own benefits and considerations.

Experts have hailed the government move to offer long-term interest-free loans to states to promote iconic tourist centres, saying that this will help boost development and, in turn, spur credit growth. Finance Minister Nirmala Sitharaman made the announcement as part of the Union Budget speech for FY25 on February 1.

File PhotoCHENNAI: The Enforcement Directorate has conducted searches at the offices of leading Chennai-based cement manufacturer-- India Cements Ltd.-- as part of a foreign exchange violation investigation, official sources said on Thursday. The searches were launched on Wednesday at two office premises of the company in Chennai and one in Delhi.

The 2024-25 Interim Budget outlines a roadmap for inclusive development and economic resilience. Key sectors like housing, infrastructure, and transportation receive significant attention, promoting economic growth and addressing societal needs. Initiatives like Pradhan Mantri Awas Yojana, PM Gati Shakti, and affordable housing continue, while capital expenditure increases by 11.1%.

In today’s market session, both the Sensex and Nifty closed in the red, with the Sensex Index down by 0.15% and the Nifty-50 Index by 0.13%. Due to the budget announcement today, throughout the session, there was significant volatility in the market, while the index remained muted during the day and some more changes are expected.

Tata Motors is expected to report strong growth in net profit and revenue for the third quarter, driven by Jaguar Land Rover volumes, price hikes, and improved product mix. Analysts anticipate a 54% increase in net profit and 22% growth in revenue compared to the same period last year. The company's focus on premium pricing and margin improvement through new launches is expected to boost profit.

The Union Budget 2024 has seen a significant increase in fund allocation for the tourism sector with an overall budget of Rs 2,449.62 crore announced by the finance minister on February 1. This marks a 44.7 percent increase from the revised figure of Rs 1,692.10 crore in the current fiscal year. While efforts towards promoting domestic tourism have increased.

The RBI announced that 97.50% of Rs 2,000 currency notes in circulation had been returned to the banking system by Jan 31, 2024. This led to a decline in the total value of such notes to Rs 8,897 crore. The central bank introduced the Rs 2,000 banknotes after the withdrawal of other denominations, but printing was stopped in 2018-19 as other notes became readily available.

Pharma, PSU banks, and tourism are the sectors that veteran investor Madhusudan Kela is bullish on. He believes that PSBs are attractively valued compared to other public sector companies and have potential for further growth. He also sees opportunities in public-sector oil companies and believes that the tourism sector has untapped potential.

By Unmesh Kulkarni, Managing Director Senior Advisor at Julius Baer India Conforming to the expectations, Finance Minister Nirmala Sitharaman's Budget announcements were muted given that we are in an election year. Sitharaman's budget speech provided a stock-taking perspective on the initiatives taken so far (and their impact) in the areas of direct benefit transfer, inclusion of youth.

Union Budget 2024 focuses on promoting innovation in the financial sector and digital transactions for government schemes. It also includes a tech-savvy growth fund, increased spending on infrastructure development, and extended benefits for start-ups. However, concerns about fiscal deficit and tighter credit conditions remain. The budget has both positive and negatives for the fintech.

Interim budgets are usually intended to keep administration going for a short while, but the latest one seems to show sign s of a government confident of returning to power. There are two standout features, which no one seemed to bargain for: One, the fiscal consolidation exemplified by the sharp reduction in fiscal deficit to 5.1 percent; Two, a continuum in policy with capex allocation rising.