ITC stock fell 4% due to its largest shareholder, British American Tobacco (BAT), announcing plans to pare its stake in the conglomerate. BAT holds a 29.03% stake, worth Rs 1.5 lakh crore, and is working on completing regulatory process to monetize some shares. This decision could lead to offloading shares worth Rs 20,760 crore.

Global equities reached a two-year high as strong earnings countered worries about US regional banks and Chinese markets. Federal Reserve comments suggested rate cuts may be delayed, boosting the MSCI world equity index. In the US, all major indexes rose, while European equities faltered. Corporate earnings have been mostly positive.

The iconic Kinetic Luna moped from the 1970s and 80s has returned, this time in an electric version. The e-Luna has a range of 110 km per charge and is priced at Rs 69,990 for the X1 trim and Rs 74,990 for the X2 trim. With over 50,000 bookings from B2B customers and 30,000 enquiries from B2C customers, it seems to be a hit.

Overall, the RBI Monetary Policy has maintained a status quo on rates and stance, with some expectations of a change in policy stance to comfort the market. The MPC is confident in the inflation trajectory and sees the desired impact of monetary policy on the economy. While headline CPI inflation is still high due to food inflation, it is expected to moderate in the coming quarters.

Nagpur Municipal Corporation's amnesty scheme offers 80% waiver on penalty for property tax defaulters. So far, 25,879 property owners have availed the scheme, resulting in a collection of ₹18.63 crore. The scheme applies to outstanding property tax, water charges and shop rents and is open till March 31. Deputy Commissioner Milind Meshram encourages citizens to take advantage.

Mumbai-based Suvita Real Estates, part of Shapoorji Pallonji Group, is planning to raise ₹105 crore through non-convertible debentures to repay its existing debt. The bonds offer high returns and have step-up pricing. The company will pay investors 17.25% for 12 months and 20.25% between 13 and 15 months, with the option to redeem at 12 months.

The life insurance industry in Mumbai saw a significant increase of 27% in new policies sold in January, with a total premium collection of ₹33,559 crore. State-owned LIC and private insurers both reported strong growth, with SBI Life recording a 100% increase in new business income. ICICI Prudential and Max Life Insurance also saw increases, while HDFC Life had a marginal growth of 2%.

Mrs Bectors Food Specialities Ltd has reported a net profit of Rs 35 crore for the December quarter of FY24, up 23.6% from the same quarter of the previous financial year. The company's revenue at Rs 429 crore was 17% higher from Rs 368 crore in the year-ago quarter, the company said in a regulatory filing on February 8. EBIDTA for the quarter was at Rs 61 crore growing by 20%.

The RBI has allowed hedging of gold price risk in the IFSC, which will benefit jewellery manufacturers and industry players who use gold as an end product. This move will provide more flexibility and easier access to derivative products for residents, helping them mitigate price and currency risks. It is a win-win situation for both the jewellery industry and IFSC.

Power Grid Corporation of India reported a 2.56% increase in net sales at Rs. 11,549.79 crore and a 10.5% rise in net profit at Rs. 4,028.25 crore in December 2023 compared to December 2022. EBITDA also increased by 3.16%. However, the company's EPS decreased to Rs. 4.33 from Rs. 5.23 in the same period.

Payments from crypto-related ransom attacks nearly doubled to a record $1 billion in 2023, blockchain analytics firm Chainalysis said on Wednesday. Scammers targeting institutions such as hospitals, schools and government offices for ransom pocketed $1.1 billion last year, compared with $567 million in 2022. However, losses stemming from other crypto-related crimes such as scamming.

Sebi has proposed relaxed timelines for FPIs to report material changes, categorizing them into Type I and Type II. Type I changes require reporting within 7 working days and Type II changes require notification within 30 days. The regulator also suggested measures for dealing with securities after FPI registration expires, as there are no guidelines currently in place.

Reported Consolidated quarterly numbers for Rubfila International are: Net Sales at Rs 102.94 crore in December 2023 up 2.84% from Rs. 100.10 crore in December 2022. Quarterly Net Profit at Rs. 2.82 crore in December 2023 up 87.18% from Rs. 1.51 crore in December 2022. EBITDA stands at Rs. 6.60 crore in December 2023 up 55.29% from Rs. 4.25 crore in December 2022.

Reported Consolidated quarterly numbers for NLC India are: Net Sales at Rs 3,164.40 crore in December 2023 down 13.99% from Rs. 3,679.01 crore in December 2022. Quarterly Net Profit at Rs. 250.42 crore in December 2023 up 161.57% from Rs. 406.74 crore in December 2022. EBITDA stands at Rs. 989.64 crore in December 2023 down 40.5% from Rs. 1,663.26 crore in December 2022.

Reported Consolidated quarterly numbers for Linde India are: Net Sales at Rs 706.24 crore in December 2023 up 1.33% from Rs. 697.00 crore in December 2022. Quarterly Net Profit at Rs. 120.07 crore in December 2023 up 9.15% from Rs. 110.01 crore in December 2022. EBITDA stands at Rs. 208.07 crore in December 2023 up 11.28% from Rs. 186.98 crore in December 2022.