Coinbase saw a profit for the first time in two years thanks to a rebound in digital-asset markets. Revenue jumped 51% to $953.8 million, beating analyst estimates, and net income was $273 million. The surge in crypto volatility was attributed to excitement around Bitcoin ETF approvals. With institutional business picking up, loans to clients also increased.

Corporate profits in India continue to grow in double digits, driven by stable input costs and lower interest outgo. Proprietary traders are dominating the derivatives market, leaving retail investors at a disadvantage. The recent restrictions on Paytm Payments Bank are expected to have limited impact, as most users also have accounts linked with other UPI apps.

OpenAI, backed by Microsoft, is developing a video generation software called Sora that can create minute-long videos from text prompts. It is currently available for red teaming and for use by visual artists, designers, and filmmakers. The software can generate complex scenes with multiple characters and accurate details, and can also animate still images.

Entero Healthcare Solutions Limited is set to debut on the stock market today after its IPO received a lacklustre response from investors. The shares will be listed on both BSE and NSE, but experts predict a discounted opening due to the issue being overpriced by 10-15%. The grey market has also lost interest in the company's shares, with Entero Healthcare Solutions not available for trade.

Equity indices gained on Thursday, with mid and smallcap indices up 1%. Market focus is now on fundamentals and macro data after the end of Q3 earnings season. Strong inflation data is supporting domestic equities, with Nifty potentially surpassing all-time highs and reaching new levels according to experts. India VIX fell 1.36%, while FPIs sold shares worth Rs 3,064 crore.

Mumbai: SBI General Insurance plans to raise ₹700 crore in subordinated debt, despite a solvency margin of 1.9, to fund expansion and capitalize on growth opportunities. With a market share of 6.19% among private general insurers, the company saw a 24% increase in gross written premium in April-December 2023, driven by the health portfolio.

📌InterGlobe Aviation saw a slight dip at 60.2% in January 2024. 📌Global rating agency Fitch Ratings has downgraded UPL Corporation's Long-Term Issuer Default Rating to 'BB+', from 'BBB-'. 📌Finsider International Company has sold 6,55,18,600 equity shares in Vedanta via open market transactions. 📌Polysil Irrigation Systems is set to list its equity shares on the NSE Emerge on February 16.

Between a surge in bonus share offers and the government's amendment of the Income Tax Act, investors may have noticed an increase in bonus share distributions. 35 companies have already issued bonuses this year, compared to 90 in all of last year. These shares can build investor confidence and reflect a company's strength and potential for growth.

GIFT Nifty traded higher, up 50 points or 0.23% at 22,078.00, indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Asian equity indices were trading in the green tracking positive sentiments from US Market on Thursday. Japan’s Nikkei 225 was up 1.17% at 38,605.65. Hong Kong’s Hang Seng index was up 0.41% at 15,944.63.

Analysts from top brokerages have increased their price targets for M&M after the company exceeded profit expectations in its 3rd quarter. The stock rose 6.81% and closed at a high of Rs 1,769.8 on Thursday. The average price target is Rs 1884.8, implying a 6.5% upside from current levels. Kotak Securities predicts steady demand for SUVs, while tractor demand is expected to recover in long-term.

Tata Group may spin off its battery business, Agratas Energy Storage Solutions Pvt, in order to raise funds and potentially go public. The potential listing could value Agratas at $5-10 billion. Tata Motors, one of Agratas' anchor customers, is also considering a similar spinoff for its EV business. These plans are still in the early stages and Tata may ultimately decide against them.

HDFC Bank closed the gap with SBI in home loans, reaching Rs 6.84 lakh crore in Dec quarter. SBI's home loan book stood at Rs 6.94 lakh crore, overtaking HDFC in Feb 2021. Post-merger, SBI topped the market with a book of Rs 7.3 lakh crore, while HDFC Bank had Rs 1.02 lakh crore. HDFC Bank grew the fastest at 3.6%

After its multibagger listing, BofA Securities picked up a marginal stake in Alpex Solar through the open market on Thursday. According to exchange data, BofA bought 2.2 lakh shares at the rate of Rs 337 apiece.The shares of Alpex Solar nearly tripled investors' wealth on the first day of debut. The stock listed on the NSE SME platform with a premium of 186%, after which it rallied further.

Global stocks rose on Thursday, driven by a surge in technology shares. The dollar remained strong as investors assessed the likelihood of U.S. interest rates being cut. Despite higher inflation readings, other economic indicators suggest steady growth and low risk of recession. Wall Street saw gains and Taiwan hit a record high. Japan's Nikkei closed at its highest level since 1989.

Axis Bank on February 15 played down the allegations made by politician Subramanian Swamy regarding the Axis-Max Life Insurance transactions, saying that there is no material impact of the allegations and the private sector lender has received all required regulatory approvals. Axis Bank has obtained all necessary regulatory approvals in connection with these transactions, the bank said.