Maruti Suzuki India's stock jumps 3% after brokerages reaffirm buy views on the company post its Q3 results, with a target price of Rs 12,000 (Jefferies) and Rs 12,500 (Nuvama). The company reported a 33% increase in consolidated net profit for the quarter ended December 2023, with revenue rising by 14.5% year-on-year. However, Jefferies also highlighted a moderation in passenger vehicle growth.

The government is aiming for a fiscal deficit of 5.1% of GDP in the 2024-25 financial year, as announced by Finance Minister Nirmala Sitharaman. This is slightly lower than the estimated target of 5.3% predicted by economists in a recent survey conducted by Moneycontrol. Additional updates will be provided as they become available. Govt targets 5.1% fiscal deficit of GDP for 2024-25, lowe...

In January, Hyundai Motor India reported an 8.5% increase in sales, with domestic sales rising by 14%. While exports declined, the automaker credits the strong growth to high demand for the newly launched Creta and their entry SUV. The company remains cautiously optimistic about the auto industry's momentum in the future.

The Finance Minister will present the last budget before the 2024 Lok Sabha elections, with a focus on maintaining India's positive growth outlook amidst global economic slowdown. Expectations from the tax policy include extensions for concessional tax rates, incentives for environmental initiatives, a settlement scheme for past disputes, and measures to encourage innovation and exports.

In the old tax regime, there is nil tax up to the limit of Rs 2.50 lakh. From Rs 2.50 lakh to Rs 5 lakh income, there is five per cent income tax on income above Rs 2.50 lakh. Taxpayers under the new tax regime have to pay nil income tax up to the earnings of Rs 2.50 lakh. The tax slab for Rs 2.50-Rs 5 lakh income is five per cent tax on income above Rs 2.50 lakh.

On Feb 1, the FM did not make any major announcements for the defence sector in Interim Budget for 2024-25, causing a mixed response in defence stocks. Shares of major players like HAL, BEL, and Bharat Dynamics fell slightly while Data Patterns saw an increase after a positive Q3 announcement. The budget for FY23-24 allocated Rs 5.94 lakh crore for defence, a 13% increase from the previous year.

The US has announced a sharp increase in fees for non-immigrant visas, including the popular H-1B and EB-5 visas. The new fees will go into effect on April 1 and are estimated to cost the public over $1 billion over the next 10 years. The Department of Homeland Security claims the changes will benefit both the government and visa applicants by reducing administrative burdens.

The Indian government's budget proposal to provide assistance for setting up rooftop solar systems in 1 crore households caused renewable energy stocks to rise, with Borosil Renewables being the top gainer at 5%. This program is part of the government's goal to install rooftop solar power in 10 million households under the Pradhan Mantri Suryodaya Yojana.

Finance Minister Nirmala Sitharaman on February 1 said the government plans to raise the target for Lakhpati Didi schemes from 2 crore to 3 crore. "Some 83 lakh self-help groups are transforming the rural landscape. They are an inspiration to others. Buoyed by their success, it has been decided to enhance the target for the Lakhpati Didi scheme from 2 crore to 3 crore, " Sitharaman said.

On February 1, government securities saw an 8 basis point decrease in yield after Finance Minister Nirmala Sitharaman announced lower borrowing for next financial year. This is due to a decrease in gross and net borrowing, which is lower than the current year. Inclusion of Indian bonds in global indices may attract $15-20 billion of flows next year and cause yields to fall further.

Small-cap stocks have consistently outperformed key benchmarks since the previous budget, with a 60% rise in the BSE Small Cap index compared to a 19% gain in the BSE Sensex. The MSCI India Small Cap Index (USD) also outperformed emerging and developed markets. This was driven by government spending announcements in sectors like power, railways, and infrastructure, leading to a broad-based rally.

Global investment firm KKR & Co, opening a new tab said on Wednesday it had raised $6.4 billion for its fund focused on infrastructure and energy-related investments across the fast-growing Asia Pacific region. New York-based KKR said the fund was the largest pan-regional infrastructure fund to have been raised for Asia Pacific.

Economists believe that the expectations for populist measures in the interim budget are limited due to the current political climate. There may be some minor changes, such as increasing the amount for the PM-KISAN scheme and a focus on the Pradhan Mantri Awas Yojana. However, major announcements such as tax cuts are not expected.

Ajanta Pharma reported a 56% increase in consolidated net profit of Rs 210 crore for the Oct-Dec quarter. Revenue also rose by 14% to Rs 1,105 crore and EBITDA increased by 85%. The company's Board approved a second interim dividend of Rs 26 per share. India branded generics contributed Rs 308 crore while US generics brought in Rs 252 crore of its total revenue.

AMC sells two out of eight plots for Rs 109.65 crore on the third day of auctions. Five plots were sold in total, earning Rs 298.65 crore. The highest bid of Rs 3.20 lakh per sq m was received for a coveted plot in Bodakdev, surpassing a previous record. This comes after a failed attempt in February 2023 to sell seven plots. AMC changes strategy to successfully sell plots in Vatva, Makarba,