RBI's restrictions on Paytm Payments Bank have led to downgrades from brokerages, with Jefferies lowering target price to Rs 500/share citing reputational risks. EBITDA expected to be down by 46% in FY25/26E due to cuts in payments and lending revenues. Macquarie also expects significant long-term impact on revenue and profitability.

In December 2023, Arvind reported standalone quarterly numbers showing a decrease in net sales by 4.99% from the previous year but an increase in net profit by 11.64%. EBITDA also saw a rise of 13.17%. EPS has increased to Rs. 3.47. The company's shares closed at 315.00 and have given a return of 128.10% over the last 6 months.

Top Microsoft and Alphabet executives are visiting India to promote AI adoption and court the country's millions of programmers. Microsoft CEO Satya Nadella will address developers in Bangalore and Mumbai, while Google's Jeff Dean will speak at a fireside chat. Both express the importance of India in the AI sector, with its large pool of talented programmers.

The impact of the Indian budget on the stock market is often short-lived, with markets usually returning to normal after a few trading sessions. What truly matters for investors is the impact on earnings in the medium to long term. History shows that when market valuations are high, there may be a negative one-month return after the budget, but this is not currently the case in India.

Real estate market in Mumbai is expected to see a 21% increase in property registrations in January due to strong demand for residential units. However, this is an 11% decrease from last month's numbers. The premium segment is performing well and the overall positive trend is likely to continue throughout the year with favourable economic conditions.

HeidelbergCement India Ltd reported a significant increase in net profit to Rs 31.47 crore for the December quarter, driven by reduced operating costs. Its total revenue also saw a 12.4% growth. The company attributed this to a 10% increase in volume and 2% price hike. Operating costs per tonne decreased by 2.4% due to lower coal and petcoke costs. However, total expenses rose by 6.43%.

ESMA, the European regulator, is in talks with India's central bank about a dispute over how domestic bonds are traded. ESMA had de-recognised the CCIL, the platform for trading Indian government bonds, due to lack of audit and inspection rights. This affects European banks such as Deutsche Bank, BNP Paribas, Societe Generale, and Credit Agricole, who now face higher capital requirements.

Realty firm Puravankara announced an interim dividend of Rs 6.30 per share for FY23-24, totaling Rs 149.40 crore. MD Ashish Puravankara thanked shareholders for their support during tough times and aims to add to operating surplus with upcoming launches. Cash collections increased by 35%, cash balance at Rs 822 crore. Group CEO Abhishek Kapoor announced a 125% dividend.

Paytm's parent company, One97 Communication, is transferring all Paytm Payments Bank accounts to other banks due to restrictions imposed by the central bank. PPB, which houses key products like wallets and UPI, is currently the largest beneficiary bank in the Unified Payments Interface ecosystem. This move may affect Paytm's ability to retain customers and sell payment and loan products.

The trajectory of cryptocurrency adoption and regulatory frameworks in India has evolved significantly. While the government has taken commendable steps to nurture innovation in the sector, there are four key areas that require attention in the upcoming 2024 budget. These concerns include clear tax treatment for long-term and short-term capital gains.

The Union Budget 2024 is expected to continue the progressive trend of the previous year by promoting financial growth, infrastructure development, and youth empowerment. There is a focus on attracting foreign investment in GIFT City to compete with global financial hubs like Singapore and Dubai. The government may also introduce incentives for EV manufacturing to promote sustainable practices.

According to central bank data, foreign direct investments (FDI) into India decreased by 36% in the first eight months of FY24 due to high initial public offering (IPO) exits by private equity firms. This led to a higher influx of portfolio flows rather than durable FDI. However, there has been an increase in outbound FDI and repatriation of funds, which could result in more inflows in the future.

Raamdeo Agrawal of MOFSL expects a shift from traditional banking to capital markets in the next 10 years. He believes that there will be a surge in equity participation and excess liquidity due to people investing their savings. The power sector, infrastructure, and utilities are expected to do well. However, Agrawal also cautions against a possible market bubble and suggests diversification.

RBI's Digital Payments Index for September 2023 in Mumbai has increased to 418.77 from 395.57 in March 2023, reflecting growing digitisation of payments in the country. This index was introduced in January 2021 with a base of 100 in March 2018. The rise is seen in all sectors, with UPI transactions also increasing significantly to ₹18.2 lakh crore from ₹12.8 lakh crore in December.

Latest data shows India's manufacturing sector growth gained momentum in January, with the HSBC Purchasing Managers' Index reaching a four-month high of 56.5. This is slightly lower than the earlier estimated flash PMI, but still above the expansion threshold for the 31st consecutive month. The growth was driven by domestic demand and manufacturers were able to pass on higher costs to consumers.