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,

Apartments in the range of 500 sq ft and below were more in demand, down payment The Mumbai real estate market registered a strong growth in January 2024, with an increase of 21 percent in property registrations compared to the same period in 2023. Revenue from stamp duty also witnessed an eight percent rise. Residential units made up 80% of the total properties registered.

Finance Minister Nirmala Sitharaman in her Interim Budget for 2024-25 proposed to expand and strengthen the ecosystem for electric vehicles by supporting the manufacturing and charging infrastructure. She also said that a scheme on bio-manufacturing will be launched to promote green growth. "Strengthening of EV ecosystem through greater adoption of e-buses through payment security mechanism

Piramal Pharma reported a consolidated net profit of Rs 10 crore in the third quarter ending December 2023, swinging from a net loss of Rs 90 crore in the same period last year. The company's revenue from operations also increased to Rs 1,959 crore, with a 14% YoY growth. The contract development and manufacturing business is performing well, with strong order inflows for innovative offerings.

Jaiprakash Associates, a diversified company in construction and real estate, reported a net loss of Rs 476.12 crore in Q3 of FY21, compared to Rs 314.51 crore in the same period last year. Their total income also decreased to Rs 1,558.58 crore from Rs 1,933.11 crore. The company is involved in various businesses such as cement and hospitality.

India's core sectors, including coal, crude oil and electricity, saw a growth of 3.8% in December, the lowest in 14 months. This is a significant drop from the previous month's 7.8% growth, which was later revised to 7.9%. Overall, the output for the first nine months of the fiscal year remained the same at 8.1%.

The stock market reacted positively to the interim budget for 2024 as it focused on boosting consumption, particularly in rural areas. Godrej Consumer Products and Dabur India were top gainers. The budget announced plans to construct two crore houses in rural areas, boost agriculture, and extend healthcare coverage. The government also increased the investment outlay to Rs 11.11 lakh crore.

Dixon Technologies on January 31 reported a net profit of Rs 97.1 crore for the December quarter of FY24, registering a growth of 87.1 percent from Rs 52 crore last year. Total revenue of the company stood at Rs 4,818.3 crore, double from Rs 2,404 crore in the year-ago quarter, the company said in a regulatory filing.

Finance Minister Sitharaman announced that 1.4 crore youth have undergone training and upskilling under the Skill India Mission, which focuses on skill acquisition and development through short and long term programs. Implemented by over 20 central ministries, the mission aims for comprehensive growth in GDP, governance, and overall performance

Railway stocks have seen a decline after the interim budget, despite an 11% increase in total capital outlay for 2024-25. The government plans to convert 40,000 rail bogies to Vande Bharat standards and create three new rail connectivity corridors. This is expected to improve passenger operations and provide job opportunities. Experts predict a 20% growth YoY in railway capex.

Railway stocks fell on February 1 after the Finance Minister Nirmala Sitharaman announced an increase in allocation for the sector. Rail Vikas Nigam (RVNL) fell 1.24%, Indian Railway Finance Corporation (IRFC), IRCON International fell 1.5%, RailTel Corporation of India fell 2.6% and Texmaco Rail & Engineering fell 1.2%. IRFC stocks were trading flat.

Sensex and Nifty ended lower after the Finance Minister presented a relatively lackluster Interim Budget speech with smaller than expected capital expenditure allocation. Engineering major L&T was the top loser, while shares of housing finance companies saw gains following a push for housing development. The Budget also showcased focus on fiscal consolidation, which was well received by analysts.

Jindal Steel & Power (JSPL) reported a 272% increase in consolidated net profit for Q3 of FY24, compared to last year. This was due to price hikes and improved demand in the domestic market. However, net revenue declined by 5.9% due to lower volumes. On a sequential basis, revenue fell by 4%, but net profit increased by 38.7%.

PB Fintech shares rose over 2% to hit a 52-week high of Rs. 1048 after a block deal saw 2.44 crore shares being exchanged. Shares were trading at Rs. 1023.7, up 2.1%, with analyst Nilesh Shah recommending it as a good long-term investment. The parent company of Policybazaar turned profitable for the first time with a profit of Rs. 37 crore in the December quarter.

The recent interim budget presented by finance minister Nirmala Sitharaman did not bring any changes to tax rates and slabs, disappointing taxpayers. The budget was a vote-on-account and the minister had warned against expecting significant changes. Middle class and salaried individuals were hopeful for relief before the upcoming general elections.