Reported Standalone quarterly numbers for APM Industries are: Net Sales at Rs 74.94 crore in December 2023 down 13.98% from Rs. 87.12 crore in December 2022. Quarterly Net Profit at Rs. 1.19 crore in December 2023 down 74.35% from Rs. 4.64 crore in December 2022. EBITDA stands at Rs. 4.20 crore in December 2023 down 52.11% from Rs. 8.77 crore in December 2022.

Aadhar Housing Finance, backed by Blackstone, filed papers with Sebi for a Rs 5,000 crore IPO. The IPO will consist of a fresh issue of equity shares and an offer-for-sale by Blackstone. The company plans to use the proceeds for lending and general corporate purposes. Aadhar offers a range of mortgage loans for residential and commercial properties, with a focus on low-income customers.

The stock market reacted positively to the Interim Budget, with Nifty reaching a new high of 22,126.80 and Sensex gaining over 1,400 points. However, some profit-booking at higher levels resulted in closing off the day's high. Positive global cues and strong performance in sectors such as oil & gas and information technology contributed to the market's weekly gains of 2%.

The Madras high court suggests the constitution of high-level committees to prevent unauthorised constructions in corporations and municipalities. The court notes that several petitions have been filed regarding this issue, leading them to believe that such constructions cannot take place without the knowledge of authorities. Despite previous directives from the court, no action has been taken.

The Budget presentation on February 1 by Finance Minister Nirmala Sitharaman saw no major surprises, but the government's decision to limit borrowing has pleased investors. Nine out of the top 100 Nifty index stocks have no "sell" calls according to Bloomberg data, with banks like ICICI Bank, Axis Bank, and HDFC Bank being among them. ICICI Bank shows consistent growth, while HDFC Bank struggles.

RITES Ltd reported a 12.5% decrease in consolidated profit for the quarter ended December 31, 2023, compared to the same period last year. The company's income also dropped slightly. The chairman and managing director attributed this to their strategic decisions and steady growth in project consultancy revenue and EBITDA. RITES Ltd is a multidisciplinary engineering and consultancy organization.

UltraTech Cement, part of the Aditya Birla Group, saw a 67% increase in Q3 net profit and plans to drive down its debt through increased cash flow. The company expects high demand and utilization rates in Q4 and is aiming for a zero net debt position by March 2025. They have also acquired Kesoram Industries' cement business and may consider more acquisitions opportunistically.

Hero MotoCorp's shares rose to an all-time high after reporting a 22% increase in two-wheeler sales compared to the previous year. The company's motorcycle sales contributed the most to this growth. The Nifty Auto index also saw gains, with leading carmakers reporting their best-ever monthly sales in India. The overall auto wholesales registered an increase, thanks to strong SUV volumes.

✅ Amid positive global cues, benchmark indices closed on a positive note today. 📢 At 3:30 PM, the Sensex improved by 440.33 points or 0.61% at 72,085.63, and the Nifty was up 156.35 points or 0.72% at 21,853.80. 📊Among sectoral, BPCL (⬆️9.81%) turned out to be the best performer while Nifty Bank (⬇️ 0.47%) saw considerable selling.

Educators are cautious about Finance Minister Nirmala Sitharaman’s allocation to the education ministry, which comprises two departments: the Department of School Education and Literacy, and the Department of Higher Education. Budget 2024 has earmarked Rs 1. 20 lakh crore for education, which is Rs 9,091 crore, or 7.26 percent, less than the revised estimate of Rs 1,29,718 crore for 2023-24.

Indian equities ended marginally lower on Thursday after seesawing for most of the trading session as investors evaluated the interim budget announcements amid concerns over an overbought market. The BSE Sensex fell 0.15%, or 106.8 points, to close at 71,645.3. The Nifty lost 28.2 points, or 0.13%, to close at 21,697.4. Money managers said investors were relieved that the budget had no negative.

Reported Consolidated quarterly numbers for Avalon Technologies are: Net Sales at Rs 214.27 crore in December 2023 down 7.92% from Rs. 232.69 crore in December 2022. Quarterly Net Profit at Rs. 6.58 crore in December 2023 up 14.72% from Rs. 5.73 crore in December 2022. EBITDA stands at Rs. 18.70 crore in December 2023 down 12.74% from Rs. 21.43 crore in December 2022.

Gold prices were poised for their biggest weekly gain in nine weeks on Friday as the dollar and Treasury yields retreated, while traders awaited key U.S. jobs data due later in the day for clues on when the Federal Reserve could start rate cuts. Spot gold was steady at $2,055.59 per ounce by 0803 GMT. Bullion has climbed nearly 2% so far this week, set for its best weekly gain since early Dec.

The Interim Budget of 2024, presented by Finance Minister Nirmala Sitharaman, shows a commitment to reduce the fiscal deficit to 4.5% by 2026. This will benefit the debt market and companies that rely on it for capital. The government's aim to reduce borrowings will also create room for private sector borrowing, which is often difficult due to high interest rates.

Aadhar Housing Finance, backed by Blackstone, has refiled its IPO documents to raise up to Rs 5,000 crore. The proposed IPO will have a mix of fresh shares and stake sale by Blackstone. The funds raised will be used for future lending and general corporate purposes. The company had previously filed for an IPO in 2021 but the approval lapsed after a year, requiring them to file afresh.