Ashok Leyland, a Chennai-based automotive manufacturer, reported a standalone net profit of Rs 580 crore in the quarter ended December 2023, which is 60 percent higher than the previous year. Its revenue also saw a slight increase, and its EBITDA was at 12 percent. The company's export volume has also grown by 6.5 percent.

Varun Beverages reported strong financial results in Q3FY24 with 77% increase in net profit and 21% growth in total revenue. The company's debt levels are manageable with its acquisition of The Beverage Company South Africa costing only a few months' cash profit once peak season begins. It is also looking to expand its production capacity, particularly in energy drinks and carbonated soft drinks.

Filing your income tax return for the financial year 2023-24 (assessment year 2024-25) is set to become more tedious due to the income tax department seeking additional details in the new ITR forms released on February 2. This is to keep false claims in check, especially for areas such as political party donations and capital gains exemptions.

TBI Corn Limited has filed the DRHP with Sebi for raising funds through a public offer, and will issue upto 50,00,000 fresh equity shares. The shares will be issued at a price band of around Rs 90-93 per share, per the sources. At the upper price band, the company will raise Rs 45 crore. Ace investor Ashish Kacholia's name features in the list of investors in TBICL, as per the DRHP document.

Nvidia's stock reached a record high as Goldman Sachs increased their price target due to the expected profits from the AI industry. The company's market capitalization could increase by $70 billion, bringing it to a valuation of $1.63 trillion. Despite a 39% increase in share price this year, analysts see potential for further growth with Nvidia remaining a leader in the AI field.

SBI has issued Electoral Bonds worth Rs 16,518 crore through 30 tranches since 2018 to ensure clean political funding. No GST or taxes are charged on these bonds. The government has paid a commission of Rs 8.57 crore to SBI and Rs 1.90 crore to SPMCIL for issuance and redemption. Another initiative by the government is the online portal for refund claims from Sahara Group.

India's budget reflects a commitment to fiscal consolidation and future economic growth. The government aims to uplift economic development through social welfare, infrastructure investment, and support for Garib (poor), Youth, Anna (farmers), and Nari (women). There is a focus on reducing leakages and promoting financial inclusion.

Servotech Power Systems experienced significant selling in the stock market, with Brilliant Investment Consultants and Zenith Multi Trading DMCC selling a combined stake of 1.54 percent for a total value of Rs 34.9 crore. On the other hand, Inflame Appliances saw a small transaction as India Emerging Giants Fund purchased a stake worth Rs 2.83 crore from Vikasa India EIF I Fund.

LIC may declare interim dividend for FY 2023-24 on February 8, along with releasing its Q3 results. The state-run insurer's shares have soared by over 7 percent, surpassing Rs 1,00-mark and crossing the IPO price of Rs 949. LIC is also working on digital transformation to retain market share in a profitable manner.

Suven Pharma reported a 56.6% drop in net profit for the December quarter compared to the same period last year. Revenue also decreased by 37.9%. The decline was attributed to lower EBITDA and global supply chain destocking. However, their pharma CDMO business showed growth of 24% in the first 9 months of FY24. The CEO remains confident in achieving medium-term growth through ongoing discussions.

Arvind Vashistha, head of equity capital markets at Citi India, has resigned after nearly 10 years and is expected to join JP Morgan. The search for a replacement has begun. This move is part of a trend of high-level movements in the Indian investment banking industry amidst a spike in capital market deals. JM Financial and Axis Capital have also witnessed executive changes recently.

Snap will be reducing its workforce by 10%, or 528 employees, which is in line with other companies in the tech and media industry. The company's stock rose by 2% in pre-market trading. Snap expects to incur charges of $55 million to $75 million for severance and related costs, with most of the expenses happening in the first quarter of 2024.

Caterpillar beat estimates with a double-digit jump in operating profit on Monday to send its shares to a record high buoyed by mining equipment sales and higher prices across its machinery divisions. Shares for the Texas-based company were up 5%. Spending on heavy machinery held steady among commercial clients. Dealer inventories fell for the first time in four quarters, by $900 million.

Four companies have received approval from India's securities regulator, Sebi, to raise funds through initial public offerings. These include Juniper Hotels, Arkade Developers, CJ Darcl Logistics, and Indo Farm Equipment. However, two other companies, Kronox Lab Sciences and Shree Tirupati Balajee Agro Trading Company, had their draft IPO documents returned without reason.

In a 475-billion-rouble deal, Russian technology company Yandex NV is being sold to a group of Russian investors, making it the largest corporate exit from the country since 2014. The sale includes Yandex's most profitable businesses and aims to prevent nationalization by the Kremlin. The deal reflects a 50% discount due to government regulations.