A parliamentary panel reported that the wages paid under the rural employment scheme, MGNREGA, are inadequate and not keeping up with the rising cost of living. This has led to a shortage of workers participating in the scheme. The panel recommended an increase in wages and expressed concerns over the insufficient budget allocation for the scheme.

ISRO is launching INSAT-3DS satellite on February 17, which will improve meteorological observations and provide better forecasts and disaster warnings. It will be launched using GSLV F14 and will join existing satellites in monitoring weather and ocean surfaces. The satellite has multiple payloads for different purposes and is fully funded by the Ministry of Earth Sciences.

British American Tobacco (BAT) plans to exit its stake in Indian cigarettes maker ITC Ltd's hotel business after the latter's demerger from the parent company. ITC shareholders will hold 60% of the new hotel entity, with BAT likely to monetize its remaining 40% stake. The demerger is expected to result in improved returns for both ITC and its shareholders.

The Ahmedabad civic body will hold another land auction, with five plots up for sale, including two new plots and three from the previous auction that went unsold. The cumulative reserve price for these plots is Rs. 647.62 crore. The auction will take place on Feb 27 and 28, after registering bidders until Feb 21. In the previous auction, two plots were sold for Rs. 109.65 crore.

Government not currently discussing consolidation or privatisation of public sector banks due to their good performance and upcoming elections. Amendments need to be made in banking laws for privatisation to occur. Previous consolidations happened when banks were under corrective action, but now smaller banks are performing well. PSU banks have made record profits.

Jefferies analyzed the performance of midcap stocks in India's Q3FY24 and found a strong earnings growth of +30% YoY. Key contributors include Dixon, Kajaria Ceramics, Pidilite, and V-gaurd. However, softer demand affected B2C companies like Havells and POLYCAB. Cables & Wires segment saw double-digit volume growth while DIXON and Pidilite reported strong Q3 performances.

The RBI conducted a 14-day variable rate repo auction of Rs 1.75 lakh crore on February 8 and will reverse the funds on February 23. This is to infuse liquidity into the banking system, which currently has a deficit of around Rs 1.53 lakh crore. There is also a scheduled reversal of an auction worth Rs 2.50 lakh crore on February 9.

On Thursday, Nifty fell by 200+ points resulting in a bearish candle on the daily chart, indicating a possible weakening of the short-term trend. However, the near-term uptrend remains intact and any further decline could present an opportunity for buying at levels of 21,550-21,500. Analysts suggest that if Nifty remains above 21,700, there could be a recovery.

The Life Insurance Corporation (LIC) of India on February 8 reported a 49 percent year-on-year (YoY) rise in net profit at Rs 9,441 crore for the October-December quarter of the financial year 2023-24, from Rs 6,334 crore recorded in the year-ago period. Net premium income grew 4.67 percent to Rs 1.17 lakh crore in the quarter under review, from Rs 1.11 lakh crore in the year-ago period.

Indian cement industry remains optimistic despite challenges, with single-digit growth expected in coming quarters. Factors such as government spending on infrastructure and housing projects, as well as potential price hikes allow for expectation of 6-10% growth. Election slowdown, flooding and construction ban caused brief dip, but demand has since picked up.

Microsoft partners with Indian startup Sarvam AI to support the development of voice-based generative AI applications focused on Indic languages and context. Sarvam AI, funded by Lightspeed Venture Partners, Peak XV Partners, and Khosla Ventures, will make its Indic voice models available on Microsoft's Azure cloud platform.

India's top two-wheeler company Hero Motocorp is expected to have a strong quarter with higher profits and revenues compared to the same period last year. The company is predicted to see a 47% increase in EBITDA, driven by increased sales and price hikes. A weaker Japanese Yen against the Indian Rupee could also positively impact margins.

RBI will review the framework for ETP following requests from market makers to access offshore ETPs offering permitted Indian Rupee products. The central bank has noticed increased integration of onshore forex market with offshore markets, technological advancements, and expanded product diversity. In light of these developments, the RBI has decided to revise the regulatory framework for ETPs.

Bajaj Electricals reported a decrease in net sales, net profit, and EBITDA for the December 2023 quarter compared to the same period in 2022. EPS also decreased, while the company's shares have seen negative returns over the past 6 and 12 months. The company's report also shows a decrease in consumption of raw materials and an increase in other expenses.

Zomato has leased 3.08 lakh sq ft at Sumadhura Logistics Park near Bengaluru for seven years, marking their largest warehousing space in India. The park has been developed by Sumadhura Group and they plan to expand it to 6 million sq ft. Retail is a key driver for warehousing demand in India, with e-commerce, FMCG, and retail sectors accounting for 27% of the total demand.