Pharmaceutical company GSK reported a 72% decline in net profit for the December quarter due to exceptional expenses. Excluding this, net profit increased by 19%. Revenue remained largely flat despite facing price caps on essential medicines. The company's EBITDA margin also contracted. Brokerage firm Motilal Oswal raised its earnings estimate for GSK, but continues to have a "neutral" call.

Tata Steel is actively promoting inclusivity by inviting applications from transgender candidates for various positions across multiple locations. This move reflects the company's commitment to breaking barriers and mainstreaming transgender individuals in society. They are seeking applicants with a range of educational qualifications and have set a deadline of February 15 for submissions.

Indian benchmark indices remained stable with mixed global cues on February 13. Experts expect the Nifty to trade within a tight range of 21,500-21,725, with support at 21,450 and resistance at 21,725 and 21,850. The BSE Midcap index dropped by 0.4% and the BSE Smallcap index by 1.5%. Metal and power sectors witnessed decline, while banking sector saw a slight increase.

Continuing its rise, the Japanese benchmark Nikkei reached a 34-year peak by hitting 37,930 on Tuesday. This is the highest since Feb 1990. While the yen continues to teeter towards the 150 per dollar level, Nikkei has been slowly inching towards the 1989 record of 38,957. With this, it is on course to clock a 13% gain for the year, adding to its 2023 surge of 28%.

After five years of legal disputes, 850 homebuyers in Greater Noida West will finally receive possession of their flats at RG Luxury Homes, with another 600 units expected to be offered soon. The completion of the project was made possible through the cooperation of the original developer and financial institutions, despite facing challenges due to the ongoing pandemic.

In a major demolition drive, the enforcement wing of town and country planning department (DTCP) cleared 60 acres of more than 100 structures, a road network and boundary walls .The move comes three days after DTCP started surveying colonies across the city to check if any rules have or are being violated. The drives were conducted in 12 illegal colonies.

Vedanta Aluminium has launched an e-commerce platform, 'Vedanta Metal Bazaar', for buyers to purchase primary aluminium products. The platform offers real-time price discovery, product availability, and end-to-end visibility of orders. It also has features like long-term contracts, shipment tracking, and financial reconciliation. This move is expected to benefit small and medium-sized companies.

On Tuesday, Indian equity indices fell slightly after opening in the green due to cautiousness ahead of US inflation data. The BSE Sensex was down 75 points at 70,997 and Nifty50 was down 21 points at 21,595. India's retail inflation dropped to a three-month low and industrial output rose at a faster pace in December. Meanwhile, MSCI raised India's weightage in its Emerging Markets index.

Oil markets saw a return of geopolitical risk premium as Israel rejected a ceasefire and bombed Rafah. However, weak demand and bearish calls from the US EIA limited the upside. Brent crude breached $80 per barrel, driven by Middle East tensions, US fuel stocks, and Russian oil exports. Standard Chartered warned of a potential supply deficit of 1.6 million bpd.

JSW Energy's stock initially rose but then stabilized after receiving a wind power project from Solar Energy Corporation of India. The company's subsidiary, JSW Neo Energy, has been awarded a 500 MW project with potential for an additional 700 MW. This brings the company's total locked-in generation capacity to 10.3 GW. They aim to reach 20 GW generation capacity and 40 GWh energy storage capacity

Kesoram Industries is refinancing its ₹1,500-crore debt borrowed at 20%, from Goldman Sachs, Cerberus and Edelweiss, with Tata Capital at a lower interest rate of 12-13%. This move is to reduce interest costs before their merger with UltraTech Cement in November 2023. Talks for the new loan are expected to close by the end of this month. The loan will also help pay off remaining debt.

The monitoring panel overseeing the insolvency process of Jaypee Infratech has moved the NCLT for directions in light of legal challenges to Suraksha group's resolution plan. The plan, approved by NCLT in March 2023, would bring relief to over 20,000 homebuyers and other stakeholders. Due to pending appeals, financial results have been delayed and an Implementation and Monitoring Committee.

Bharat Forge, a leading forging firm based in Pune, expects growth to slow down in both domestic and export markets in next quarter. Joint Managing Director Amit Kalyani attributed this to pressure on exports and a cyclical peaking in Europe and the United States. However, the company remains confident about continued growth, particularly in new sectors such as industrial aerospace and defence.

In the quarter ending December 2023, standalone sales for PBM Polytex decreased by 14.4% from the same quarter in 2022. However, there was an increase in quarterly net loss and negative EBITDA compared to the previous year. The company's shares closed at 94.59 on February 12, 2024, with a 4.24% return over the last 6 months and -6.35% over the last 12 months.

Reported Standalone quarterly numbers for Mallcom (India) are: Net Sales at Rs 92.01 crore in December 2023 down 3.4% from Rs. 95.24 crore in December 2022. Quarterly Net Profit at Rs. 6.14 crore in December 2023 down 31.17% from Rs. 8.91 crore in December 2022. EBITDA stands at Rs. 11.64 crore in December 2023 down 21.4% from Rs. 14.81 crore in December 2022.