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.

Mumbai-based Fino Payments Bank posted a net profit of Rs 22.8 crore in the Oct-Dec quarter, with a 19 percent year-on-year increase. The bank's average deposits grew by 42% and it has applied for an SFB license with RBI. The bank's board has also approved a proposal to transition into an SFB. A committee has been formed to explore corporate restructuring. Shares closed 1.30% higher at Rs 331.20.

The Indian finance minister proposed measures to promote electric vehicles, including supporting manufacturing and charging infrastructure and launching a scheme for bio-manufacturing. This aims to strengthen the EV ecosystem and contribute to green growth. India has set a goal of 30% EV adoption by 2030 to balance economic growth with environmental responsibility.

Indian government plans to increase capital spending by 11% for 2024-25, amounting to Rs 11.11 lakh crore or 3.4% of GDP. This has resulted in a boost to economic growth and job creation due to three-fold increase in capital expenditure in the last four years. Additionally, Indian airlines have placed orders for 1,000 new aircraft.

ISMA estimates that India's sugar production will decrease by 10% to 330.5 lakh tonnes in 2023-24, mainly due to lower output in Maharashtra and Karnataka. The government has only allowed a diversion of 17 lakh tonnes for ethanol production, which could result in a net sugar production of 313.5 lakh tonnes.

The budget 2024Interim Budget 2024 does not change standard deduction limit of Rs 50,000 allowed to salaried individuals and pensioners in the previous financial year. This means that the tax break of Rs 50,000 from salary and pension income will continue for the upcoming financial year. Additionally, family pensioners will also continue to receive a standard deduction benefit of Rs 15,000.