Mutual Fund folios hit at all-time high of 22,50,03,545 in December 2024, revealed the latest data released on Thursday by the Association of Mutual Funds in India (AMFI). Retail mutual fund folios (which include equity, hybrid, and solution-oriented Schemes) were at an all-time high of 17,89,93,911 for the month of December 2024, compared to 17,54,84,468 for the month of November 2024.

Even though there has been talk for long that household savings are moving from bank deposits to other financial products, especially to the capital market, data published by the ICICI Bank Global Market report for financial year 2023-24 seems to suggest that the share of total household deposits in GDP  has increased sharply to 4.7 percent in FY24, from 4.1 percent in the year ago period.

Microsoft India and South Asia president Puneet Chandok said that the company has already trained 2,400,000 Indians since 2024. American tech giant Microsoft plans to invest $3 billion to expand its cloud computing and artificial intelligence capabilities in India, calling it “the single largest expansion we have ever done in India.” The announcement was made at the Microsoft AI Tour in Bengaluru.

Tata Elxsi Ltd. on Thursday, January 9, reported a 13.3% quarter-on-quarter decline in net profit at ₹199 crore for the period ending December 31, 2024, compared to ₹229.4 crore in the September quarter. Revenue for the quarter stood at ₹939.2 crore, which was 1.7% down as compared to ₹955.1 crore in the September quarter.

Atul Suri, CEO of Marathon Trends-PMS, is bullish on large-cap IT stocks, expecting them to lift the market due to their significant index weightage, while remaining cautious on banks. He also predicts large caps will outperform mid and small caps, and advises selective positioning in the current market.

Tata Consultancy Services (TCS) reported a net decline of 5,370 employees in its workforce during the fiscal third quarter, a reversal after two consecutive quarters of growth, with the company now employing 6,07,354 people, the company said on January 9 as it shared the numbers for the third quarter of FY25, despite promoting over 25,000 associates and investing in upskilling.

Tata Consultancy Services (TCS) has agreed to acquire two wholly owned subsidiaries of Tata Realty and Infrastructure Limited—TRIL Bengaluru Real Estate Five Limited and TRIL Bengaluru Real Estate Six Limited—for ₹1,625 crore. The acquisition, comprising optionally redeemable convertible debentures and 100% equity shares, will aid TCS's delivery centre expansion.

TCS declares third interim dividend of ₹10 and special dividend of ₹66 for FY25, with a record date of January 17 and payment on February 3, 2025, bringing the total dividend to ₹20 per share so far. TCS shares will trade ex-dividend before the record date, and the company reported revenue of ₹63,973 crore, a 0.4% decline, in its Q3 results.

Ajmera Realty & Infra India reported sales value of Rs 270 crore during the quarter ended December 31, 2024, registering seven per cent year-on-year growth. Collections increased by 10 per cent year-on-year to Rs 167 crore during the same period. Its sales area grew by 59 per cent year-on-year to 1,65,116 sq ft.

Penny stock below ₹10: Shares of SRU Steels Limited, a penny stock trading below ₹10, hit their 5 percent upper circuit at ₹8.07 on Thursday, January 9, following the company’s announcement of a board meeting to discuss fundraising proposals. The meeting is scheduled for Monday, January 13, 2025, to evaluate and approve plans aimed at bolstering the company’s financial resources.

Embassy Office Parks REIT has signed a lease agreement with cybersecurity company Rubrik at Embassy TechVillage in Bengaluru, further enhancing the park's appeal as a hub for leading companies. Embassy TechVillage offers world-class office spaces, retail hubs, and recreational facilities, and will soon feature a dual-branded Hilton Hotels.

Religare Enterprises' stock surged 4.72% to ₹295.15 after the Madhya Pradesh High Court dismissed a petition challenging its Annual General Meeting and open offer, clearing the way for the company to proceed with its plans. The New Delhi-headquartered company, with a market capitalization of ₹9,757 crore, has delivered returns of around 21% over the past six months.

Benchmark indices saw selling pressure on Thursday as the Nifty 50 nearly slid below the crucial 23,500 mark, weighed down by global market weakness and dimming hopes of a near-term rate cut by the US Federal Reserve. An outright fall below 23,263 may take a while to evolve, with major supports below seen at 23,000 and 22,260, said an analyst about Nifty levels.

TCS Q3 results: India’s largest IT firm, Tata Consultancy Services Ltd, announced their October to December quarter results on Thursday, Janaury 9. The company announced a 12 per cent rise in net profit to ₹12,380 crore. Tata Consultancy Services Ltd shares closed 1.72 per cent lower at ₹4,036.65 after Thursday’s market session, compared to ₹4,107.50 at the previous market close.

📢Sensex declines 528 points at the close; Nifty ends above 23,500 📈 Domestic benchmark indices closed on a negative note on 9 January 2025. 📢 At 3:30 PM, the Sensex tanked by 528.28 points or 0.68% at 77,600, and the Nifty was down 162.45 points or 0.69% at 23,526.50. 📊Among sectoral, Nifty FMCG (⬆️0.93%) turned out to be the best performer while Nifty Energy (⬇️2.03%) saw considerable selling