Amazon posts AI-fueled cloud, ecommerce growth, shares jump
Fri, Feb 2, 2024 11:11 AM

Amazon posts AI-fueled cloud, ecommerce growth, shares jump

In the fourth quarter of 2023, Amazon's revenue exceeded expectations due to strong holiday sales fueled by new generative AI features in its cloud and ecommerce businesses. Despite competition in the cloud market from Microsoft, AWS CEO Andy Jassy remains confident in the long-term potential of generative AI revenue. While AWS saw significant growth, the company also faced backlash.

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Interim Budget 2024: Setting the tone for the future
Fri, Feb 2, 2024 10:57 AM

Interim Budget 2024: Setting the tone for the future

The interim budget presented by Finance Minister Nirmala Sitharaman showcased the government's confidence, continuation of past policies, and communication of its vision for a developed and prosperous India. The announcement of budget numbers was received well by the market, with fiscal deficit and borrowing targets being lower than expectations. Sectors such as financials, housing.

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Budget 2024 bridges the gaps and fosters growth for Indian economy
Fri, Feb 2, 2024 10:56 AM

Budget 2024 bridges the gaps and fosters growth for Indian economy

The Union Budget 2024 aims for balanced economic growth and inclusive development, focusing on tax simplification, boosting tourism, enhancing regional connectivity, improving infrastructure, empowering women and youth, social security, and creating a resilient financial ecosystem. The budget also hints at possible future initiatives, such as incentivizing insurance purchases.

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Will IndiGo clock the highest-ever profit by an airline in India?
Fri, Feb 2, 2024 10:46 AM

Will IndiGo clock the highest-ever profit by an airline in India?

Indigo, India's largest airline, is set to declare its third quarter earnings for FY24 on Friday, February 2. The results will cover the time period with the highest traffic in India due to the year-end holidays and cricket world cup final. Despite facing competition from Air India Express, which is rapidly expanding, Indigo is expected to report a record profit.

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Nifty, Sensex, Bank Nifty up 1% as budget uncertainty ends
Fri, Feb 2, 2024 10:45 AM

Nifty, Sensex, Bank Nifty up 1% as budget uncertainty ends

Equity markets have started the month of February on a bullish note, with the Sensex and Nifty both rising over 1%. This is due to a resolution in Budget uncertainty and positive global cues. Analysts say that corporate earnings and elections later in the year will continue to drive market momentum. The Sensex was trading at 72,483 and the Nifty at 21,942 at 9:30 am

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IOB joins Rs 1-lakh-crore MCap league as fifth PSU bank
Fri, Feb 2, 2024 10:44 AM

IOB joins Rs 1-lakh-crore MCap league as fifth PSU bank

Indian Overseas Bank sees a 22% rise in market capitalization, joining other public sector lenders like SBI and PNB. Analysts indicate that these banks may have an advantage in terms of interest margins, liquidity, and credit-deposit ratios. IOB plans to increase its advances by 13-14 % and maintain its credit-deposit ratio at 78%. The bank reported a 30.3% increase in net profit.

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Docmode Health Technologies shares list at 141% premium over IPO price
Fri, Feb 2, 2024 10:42 AM

Docmode Health Technologies shares list at 141% premium over IPO price

Shares of Docmode Health Technologies listed on Friday with a premium of 141% over the issue price. The stock debuted at Rs 190.25 on NSE SME platform as against an offer price of Rs 79.Ahead of the listing, the company's shares traded with a premium of Rs 42 in the unlisted market.The public offer of Docmode Health Technologies, which is entirely a fresh equity issue of 8.49 lakh shares.

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RIL hits fresh record high, jumps over 2.5%
Fri, Feb 2, 2024 10:41 AM

RIL hits fresh record high, jumps over 2.5%

Shares of Reliance Industries Ltd on February 2 hit a fresh record high with the stock gaining over 2.5 percent. At 10am, the stock was quoting Rs 2,930, a fresh record high, on the BSE, up over 2.5 percent in the past one month. Its current market capitalisation stands at Rs 19.7 lakh crore. The stock experienced a significant uptick in January, rising around 11 percent.

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Jana Small Finance Bank to float Rs 570-crore IPO on Feb 7!
Fri, Feb 2, 2024 10:37 AM

Jana Small Finance Bank to float Rs 570-crore IPO on Feb 7!

Jana Small Finance Bank, based in Bengaluru, is launching an IPO with a price band of Rs 393-414 per share. The Rs 570 crore public issue includes fresh shares worth Rs 462 crore and a sale of 26,08,629 shares by six investors. The bank has already raised Rs 113.14 crore through equity shares and CCPS. The proceeds from the IPO will be used to strengthen the bank's Tier - 1 capital base.

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How you should deal in Canara Bank, Eicher Motors, BEML Today?
Fri, Feb 2, 2024 10:36 AM

How you should deal in Canara Bank, Eicher Motors, BEML Today?

The market bounced back from a potential downward trend and experts predict that it could reach record highs if the Nifty 50 stays above the support level of 21,500. On February 1st, the budget day, the Nifty 50 fell slightly while the India VIX decreased after the FOMC meet outcome and interim budget. Canara Bank, Eicher Motors, and BEML outperformed the benchmarks with Canara Bank.

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Ashok Leyland declines 3% after January sales hit roadblock
Fri, Feb 2, 2024 10:25 AM

Ashok Leyland declines 3% after January sales hit roadblock

Ashok Leyland's stock price dropped by 3%, trading at Rs. 168.3, after the company reported a 7% decrease in total sales to 15,939 units in January 2024 compared to 17,200 units sold in the same month last year. This decline was driven by a drop in both MHCV and LCV sales by 8% and 7% respectively. This marks the third consecutive month of declining sales for the company.

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12 reasons why a right investment plan must not focus only on income tax.
Fri, Feb 2, 2024 10:24 AM

12 reasons why a right investment plan must not focus only on income tax.

The Indian financial landscape has undergone a significant change with the new tax regime limiting tax deductions for investors. This presents an opportunity to shift from a myopic approach focused on tax benefits, towards a more comprehensive investment strategy based on factors such as risk tolerance, investment horizon, and financial goals. It is crucial to diversify investments, assess risk.

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Budget 2024 provides big boost for many sectors
Fri, Feb 2, 2024 10:15 AM

Budget 2024 provides big boost for many sectors

The interim budget introduced crucial proposals from a market perspective, including boosts to housing, an addition of 40,000 rail bogies, a rooftop solar scheme and the Lakhpati Didi scheme. These measures are expected to have a positive impact on various sectors, such as housing, construction-related segments, railways, defence and microfinance companies.

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Oman India-backed Capital Small Finance Bank to launch Rs 523-crore IPO.
Fri, Feb 2, 2024 10:15 AM

Oman India-backed Capital Small Finance Bank to launch Rs 523-crore IPO.

Punjab-based Capital Small Finance Bank is set to go public for raising up to Rs 523.07 crore, on February 7. The price band for the offer has been set at Rs 445-468 per share. The IPO will close on February 9, while bidding for the anchor book of the issue will open for a day on February 6. The IPO is a mix of fresh shares worth Rs 450 crore, and an offer-for-sale (OFS) of 15,61,329 equity share.

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Budget: Gail, EIL plan to issue bonus shares worth Rs 3,000 cr to govt
Fri, Feb 2, 2024 10:12 AM

Budget: Gail, EIL plan to issue bonus shares worth Rs 3,000 cr to govt

Government to receive bonus shares worth ₹ 2,940 crore from GAIL and EIL this fiscal year. GAIL's share worth ₹ 2,840 crore and EIL's worth ₹ 99 crore. Last bonus issue for Gail in September 2022. Shareholders don't have to pay for bonus shares. Government has majority stake in both companies. Gail's shares up 80% in a year.

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