In a significant boost for sovereign wealth funds and pension funds like Temasek, Canadian Pension Plan Investment Board (CPPIB), Ontario Teachers Pension Plan and others, the government has extended tax benefits on infra investments by these entities by an additional year to March 31, 2025. These benefits were set to expire on March 31, 2024. The announcement was made by FM.

Adani Enterprises, part of Adani Group, reported a consolidated net profit of Rs 1,888 crore in Q3 of FY23, a significant increase of 130% from the same quarter last year. Revenue from operations also increased by 6%. Their emerging core infra businesses showed strong performance and contributed 45% to their overall EBIDTA.

Finance Minister Nirmala Sitharaman's budget announcement did not include any major measures, causing the stock market to slip. However, a few stocks such as Indian Hotels, Canara Bank, and Exide Industries saw gains after the budget. These stocks have strong technical indicators and support levels, making them good investment options. It is always advisable to consult certified experts before...

Finance Minister Nirmala Sitharaman mentioned young chess prodigy R Praggnanandhaa in her Budget 2024 speech to showcase the success of Indian youth in sports. She highlighted India's record-breaking medal tally at the Asian Games and Para Games in 2023 and the growth of chess in the country, with over 80 grandmasters compared to just 20 in 2010.

The government aims to earn Rs 1.20 lakh crore in 2024-25 from communication services, which include license fees and spectrum charges from telecom operators. The telecom department collects recurrent fees of 8% of the adjusted gross revenue from licensed companies, with additional one-time fees for new operators. This year's target was revised due to prepayments from past spectrum auctions.

Union Finance Minister Nirmala Sitharaman presented the Interim Budget for 2024, highlighting BJP's achievements and goals ahead of the Lok Sabha elections. She introduced new interpretations of FDI, GDP, and GYAN, emphasizing on 'First Develop India', 'Governance Development Performance', and 'Gareeb, Youth, Annadata, and Mahilayen.'

India's Interim Budget 2024 announced a VGF of one GW for offshore wind energy as part of the country's commitment to achieve 'net-zero' emissions by 2070. This move is significant as India has no current offshore wind projects and will require interventions to reach its net-zero target. The new Offshore Wind Energy Lease Rules, 2023 were also notified to promote this renewable energy source.

The interim budget has increased funds for MNREGA and road & highway construction, which will boost rural income and consumption. The allocation is the same as actual spending in FY24, showing a commitment to fiscal deficit reduction. This, along with increased minimum support prices and lower inflation, should lead to higher income in rural areas.

Josts Engineers Company reported positive quarterly numbers in December 2023, with net sales increasing by 12%, net profit increasing by 54.88%, and EBITDA increasing by 68.19%. However, EPS decreased from Rs. 12.00 to Rs. 7.00. The company's shares closed at 682.55 on January 31, 2024, showing a 57.36% return over the last 6 months and 237.

PM Modi hailed Finance Minister Nirmala Sitharaman's interim budget as inclusive and innovative, with a focus on empowering the poor and middle class and generating new employment opportunities. The budget aims to fortify the foundation for a developed India by 2047, with a strong focus on the four pillars of youth, poor, women, and farmers. It also includes measures such as income tax relief.

India Cements reported its quarterly numbers for December 2023, showing a 10.66% decrease in net sales and a significant decline in profits by 99.5%. However, EBITDA saw an increase of 261.6%. The stock closed at 261.40 on January 31, 2024 with returns of 19.12% and 38.93% over the last 6 and 12 months respectively. Expenses also saw a decrease.

Indian government's budget announcement has had a positive impact on the bond market, with yields falling to a 6-month low. The government's adherence to fiscal consolidation and lower borrowing will not crowd out private credit and could lead to further rate cuts. Banks are expected to benefit from these moves, with non-interest income boosting their profitability and improving return on assets.

The Indian government has reduced the budget for promoting RuPay debit cards and low-value BHIM-UPI transactions by 42 percent compared to last year. The incentive scheme, which was initially for one year, has now been extended and aims to increase digital payments, especially through UPI. The move to eliminate MDR on UPI and RuPay transactions has sparked a debate among stakeholders.

Delhi HC reprimands MCD officials for not taking action against illegal construction in Chandani Mahal. Bench questions how construction was allowed despite an earlier order and 'work stop' notice. NGO claims construction is still ongoing. MCD assures demolition will be carried out, but court asks authorities to explain why they didn't notice the construction.

The Indian government has increased the budget for their production-linked incentive scheme for electronics manufacturing to Rs 6,200 crore for 2024-2025, a 1.5x increase from previous estimates. Previously, 27 companies were approved, including Dell and HP, with a commitment to produce Rs 4.65 lakh crore worth of personal computers, laptops, tablets, servers, and other equipment.