The RBI conducted a 14-day variable rate repo auction of Rs 1.75 lakh crore on February 8 and will reverse the funds on February 23. This is to infuse liquidity into the banking system, which currently has a deficit of around Rs 1.53 lakh crore. There is also a scheduled reversal of an auction worth Rs 2.50 lakh crore on February 9.

On Thursday, Nifty fell by 200+ points resulting in a bearish candle on the daily chart, indicating a possible weakening of the short-term trend. However, the near-term uptrend remains intact and any further decline could present an opportunity for buying at levels of 21,550-21,500. Analysts suggest that if Nifty remains above 21,700, there could be a recovery.

The Life Insurance Corporation (LIC) of India on February 8 reported a 49 percent year-on-year (YoY) rise in net profit at Rs 9,441 crore for the October-December quarter of the financial year 2023-24, from Rs 6,334 crore recorded in the year-ago period. Net premium income grew 4.67 percent to Rs 1.17 lakh crore in the quarter under review, from Rs 1.11 lakh crore in the year-ago period.

Indian cement industry remains optimistic despite challenges, with single-digit growth expected in coming quarters. Factors such as government spending on infrastructure and housing projects, as well as potential price hikes allow for expectation of 6-10% growth. Election slowdown, flooding and construction ban caused brief dip, but demand has since picked up.

Microsoft partners with Indian startup Sarvam AI to support the development of voice-based generative AI applications focused on Indic languages and context. Sarvam AI, funded by Lightspeed Venture Partners, Peak XV Partners, and Khosla Ventures, will make its Indic voice models available on Microsoft's Azure cloud platform.

India's top two-wheeler company Hero Motocorp is expected to have a strong quarter with higher profits and revenues compared to the same period last year. The company is predicted to see a 47% increase in EBITDA, driven by increased sales and price hikes. A weaker Japanese Yen against the Indian Rupee could also positively impact margins.

RBI will review the framework for ETP following requests from market makers to access offshore ETPs offering permitted Indian Rupee products. The central bank has noticed increased integration of onshore forex market with offshore markets, technological advancements, and expanded product diversity. In light of these developments, the RBI has decided to revise the regulatory framework for ETPs.

Bajaj Electricals reported a decrease in net sales, net profit, and EBITDA for the December 2023 quarter compared to the same period in 2022. EPS also decreased, while the company's shares have seen negative returns over the past 6 and 12 months. The company's report also shows a decrease in consumption of raw materials and an increase in other expenses.

Zomato has leased 3.08 lakh sq ft at Sumadhura Logistics Park near Bengaluru for seven years, marking their largest warehousing space in India. The park has been developed by Sumadhura Group and they plan to expand it to 6 million sq ft. Retail is a key driver for warehousing demand in India, with e-commerce, FMCG, and retail sectors accounting for 27% of the total demand.

Greaves Cotton Ltd, a leading engineering company in India, has achieved significant growth in Q3FY24 with an increase of 21% in standalone revenues and 30% in consolidated revenue. The company's diversified strategy and focus on green fuels and electric mobility demonstrate its commitment to innovation. They have also expanded their operations in the USA, EU, and Nepal, and their B2C business.

Raghuvir Synthetics reported a significant increase in net sales, net profit, and EBITDA for the quarter ending December 2023 compared to the same quarter in 2022. The company's earnings per share (EPS) also showed growth. The shares of Raghuvir Synthetics closed at 139.40 on February 07, 2024, with a return of 13.20% over the past 6 months.

RVNL's net profit fell 6.2% in Q3FY24, with a decline of 6.4% in revenue from operations. However, income from other operations rose 16.6%, cushioning the fall in bottom line. Sequentially, net profit fell 9.1% while revenue decreased 4.6%. Analysts had raised concerns over falling topline. Recently, RVNL was conferred Navratna status, granting more authority and operational freedom.

The Nifty 50 and Sensex closed in the red with declines of 0.97% and 1% respectively. Nifty Bank also dropped 1.76%. Continued consolidation with a negative bias is expected, with support at 21500-21435 for Nifty and 44430-44000 for Bank Nifty. The RBI's focus on inflation and liquidity could delay interest rate cuts, causing uncertainty in the market.

To build a successful computer and electronics manufacturing industry, India must focus on exports, not just the domestic market. The US has urged India to create a more transparent and business-friendly environment to attract foreign investment. Cutting import duties is crucial as higher tariffs make Indian products less competitive in the global market.

On Feb 8, eight Nifty 50 stocks reached a new 52-week high while the benchmark indices remained within a range as the RBI kept the repo rate unchanged at 6.5%. Aggressive long build-up was seen in PowerGrid and Trent shares, while private banks like Axis Bank and ICICI Bank showed weakness. Market may expect a possible rate cut in the later part of the year due to reduced inflation expectations.