✅ Amid positive global cues, benchmark indices closed on a positive note today. 📢 At 3:30 PM, the Sensex improved by 454.67 points or 0.63% at 72,186.09, and the Nifty was up 157.70 points or 0.72% at 21,929.40. 📊Among sectoral, Nifty IT (⬆️2.92%) turned out to be the best performer while Nifty PSU Bank (⬇️0.39%) saw considerable selling.

Finance Minister Nirmala Sitharaman presented the interim budget for fiscal year 2024-25, focusing on continuity of capital investments, transitioning to green economy, predictable tax regime, and improving taxpayer services. The budget also outlines plans to become a developed economy by 2047 and highlights the importance of green energy and defense sectors.

The Indian FMCG industry's volume grew by 6.4 per cent year-on-year in the October-December quarter with an uptick in consumption that was seen both in urban and rural areas, according to a report by analytics firm NielsenIQ. The report also highlighted a narrowing consumption gap between urban and rural markets for the first time in 2023.

The government on Tuesday informed Parliament that it has no proposal to increase the financial benefit to farmers under PM-KISAN scheme to Rs 8,000-12,000 per year. There is no proposal under consideration to increase the amount even for women farmers under the scheme, Agriculture Minister Arjun Munda said in a written reply to Lok Sabha.

Inflation and the U.S. presidential election will be the biggest drivers of global markets this year, while liquidity challenges are a growing focus, according to traders surveyed by JPMorgan. Some 27 percent of traders see inflation as having the biggest impact, followed by 20 percent for the November election, the survey published on Tuesday showed.

Amid raging speculation over the return of the BJP-led government for the third straight term and expectation of a pick-up in private capex, domestic institutions are waiting on the sidelines to raise their stakes in banks and financials. Banking stocks are seen as reasonably valued bets at a time when the market simmers on high valuations, said analysts.

InGovern Research has advised shareholders of Sanghi Industries to vote in favour of the resolutions related to the company getting into material related-party transactions with ACC, Ambuja Cements and Adani Enterprises.Gujarat-based Sanghi Industries, in which Ambuja Cements acquired a majority stake last year, has called for an extraordinary general meeting on Feb 8, Thursday.

Investing in a tax-saving Fixed Deposit (FD) with a bank stands out as a highly favored choice among investors seeking to leverage the benefits of Section 80C within the ambit of the Income Tax Act. Many individuals opt for this investment avenue for tax-saving purposes due to its perceived lower risk when compared to equities. It's crucial to note, though, that the tax-saving advantages.

TVS Supply Chain Solutions Ltd has reported a consolidated profit after tax for the October-December 2023 quarter at Rs 10 crore, the company said. The Global supply chain solutions provider had posted a consolidated PAT at Rs 17.2 crore, during the corresponding quarter of last year. Revenue from operations during the quarter under review on consolidated basis stood at Rs 2,221.8 crore.

The Indian market has been consolidating in a narrow range of 21,500 to 22,000 for over one and a half months. This consolidation in the markets is healthy as the market has run too much too fast.However, two stocks have formed a good setup on the technical charts and can give returns in the short term. The view taken for the stocks is four to six weeks.

Power Grid Corp is expected to record a modest y/y growth in Q3 revenue on slow capacity build-up, while its net profit may fall because of a rise in transmission costs. The company is set to announce its Q3FY24 results on Feb 7. The PSU power transmission company is expected to see its fiscal third quarter revenue grow 2% y/y to Rs 11,811 crore, according to an average of 3 brokerage estimates.

Larsen & Toubro (L&T) on Tuesday said it has bagged a large project to construct a bridge across the Brahmaputra in Assam. As per L&T classification, contracts worth Rs 2,500-5,000 crore fall in the category of large orders. ”The transportation infrastructure business of L&T Construction has won a project contract, to construct the Palashbari to Sualkuchi cable-stayed bridge.

ChrysCapital Management Co. is looking to raise as much as $300 million for a new fund that will allow the buyout firm to hang on to its minority stake in India’s main stock exchange. The Indian private equity company is working with a team at UBS Group AG for a so-called continuation fund that will give it more time and capital to hold its investment in National Stock Exchange of India Ltd.

Paytm Payments Bank has no intention of challenging the Reserve Bank of India (RBI) in court and is instead working with the banking regulator to ensure compliance and address concerns flagged by it, the company told Moneycontrol. On January 31, the RBI directed Paytm Payments Bank to stop onboarding new customers.

HSIIDC will auction 450 square metre industrial plots in Barwala Industrial Area Phase-I on Feb 23 with a reserve price of Rs 7,00,950. Interested buyers can register on the HSIIDC portal till Feb 15 to participate in the e-auction. This move aims to increase commercial activities in the area and boost economic growth.