The market made a smart recovery on February 14 to close higher led by gains in SBI and other PSU banks in a highly volatile session. The Sensex recovered 1, 023 points from the day's low to close 277.98 points, or 0.39 percent, higher at 71,833.17. The Nifty slumped to 21,530.20 but rebounded to end the day 97 points, or 0.44 percent, higher at 21,840.

Public sector undertakings (PSU) stock rerating persists and is ongoing, according to global brokerage house, Jefferies. If the government were to shift its position in favour of "value maximisation" for state-owned enterprises (SOEs), it may surpass average, believes the brokerage.The index continues to trade at a 40% discount to the Nifty, which has a 15% potential for return to average.

Jeff Bezos, the second-richest person in the world, has sold a significant number of his Amazon shares and recently relocated from Seattle to Miami. This move has raised concerns and speculation about his motivations. Details on the sell-off show that Bezos did not take a huge financial loss, and his decision to sell may be driven by personal reasons.

Sterlite Power on Wednesday said it has concluded the refinancing of its Lakadia-Vadodara Transmission project loan with prepayment of Rs 1,840 crore. The project was made fully operational in January 2023, a statement said. The new financing from HDFC Bank, IIFCL, and Bank of Baroda will enable prepayment of the existing project loan of about Rs 1,840 crore.

Gland Pharma on February 14 reported a 17 percent year-on-year (YoY) fall in consolidated net profit at Rs 191.9 crore for the October -December quarter of the current financial year. The company reported a profit of Rs 231.9 crore in the year-ago quarter. Revenue came in at Rs 1,545.2  crore, up 65 percent from the year-ago quarter of Rs 938.3 crore.

In January, the Spanish startup TravelPerk closed a funding round suited to today’s austere times. It raised less than it did two years prior, landing on only a slightly higher valuation of $1.4 billion. The surprising part was that TravelPerk’s lead backer was SoftBank, a Japanese investor whose Vision Fund was famous for giving startups outrageous price tags until it racked up immense losses.

State govt has earmarked Rs 145 crore from the district planning committee (DPC) to develop infrastructure in Sinnar, Manmad, Bhagur, Ojhar, Igatpuri and other towns in rural Nashik in the next financial year.A DPC official said that state govt has approved a general plan of Rs 813 crore for the district for 2024-25.

CAIT has asked for a one-year deferral or suspension of the new rule mandating timely payment to MSMEs, citing the need for greater awareness and clarity among traders. However, CAIT believes that postponing the new rule will provide MSMEs with much-needed breathing room to adapt and comply with the law, ensuring a smooth transition to timely payments.

Shipping Corporation of India share price while has gained around 85% in last one year, Great Eastern shipping company share too has gained almost 65% during the period. Essar Shipping however has seen its stock prices grow three folds.The overall outlook has improved for shipping companies regularly post Covid followed by geographical uncertainties. Nevertheless the rising interest rates.

Global brokerage firm Jefferies has initiated coverage on Indiamart Intermesh, an online B2B marketplace, with a 'buy' tag, setting a target price of ₹3,400 apiece, which implies a 26% upside from the stock's current trading price. Additionally, in a bull case scenario, the brokerage sets an even higher target price of ₹3,820 for the stock. The brokerage's bullish outlook stems from the company.

The equity benchmarks made a smart recovery to close higher on February 14. The Sensex gained 277.98 points or 0.39 percent to close at 71,833.17 and the Nifty 96.70 points or 0.44 percent at 21,840. About 2,317 shares advanced, 1,395 declined and 81 remained unchanged. Sansera Engineering | CMP Rs 1,023 | Shares of Sansera Engineering gained 3 percent after the company’s net profit jumped.

After receiving a decent oversubscription for its IPO, Jana Small Finance Bank listed at a 4% discount on the bourses. The weak listing can be attributed to muted market sentiments.Analysts believe investors who have been allotted shares to hold it for the long-term as the small finance bank is growing its business by transitioning its focus from microfinance loans to expanding its secured loan.

National Mineral Development Corporation Ltd (NMDC), India’s largest iron ore producer, reported a 62.6 percent increase in consolidated net profit for the December quarter, aided by healthy domestic demand for steel. Earnings climbed to Rs 1,469.73 crore in the three-month period ended December 31 from Rs903.89 crore in the year-ago period, the state-owned company said on February 14.

Uber Technologies (UBER.N), opens new tab said on Wednesday it will buy back up to $7 billion worth of company shares after a strong recovery in ride-share and healthy demand at its food delivery business. The company's shares rose more than 5% to $72.50 in trading before the bell. "Today's authorization of our first-ever share repurchase program is a vote of confidence in the company.

The Indian fintech, Paytm is facing more trouble as the Enforcement Directorate on Wednesday began a preliminary inquiry against Paytm Payments Bank, reported Reuters citing sources. However, there has been no official statement by Paytm or ED on the recent media reports of the preliminary investigation by the agency.Owned by One 97 Communications, Paytm Payments Bank faced strict actions.