Paytm's stock fell 20% after RBI directed it to stop accepting new deposits and conducting credit transactions from February 29. Brokers are cautious, with targets slashed by half. Analysts fear major impact on Paytm's lending business due to operational issues. Company has paused lending operations for two weeks and expects worst-case impact of Rs 300-500 crore on annual EBITDA.

Investors hoping for rate cuts from the Federal Reserve were disappointed when Chairman Jerome Powell suggested that inflation concerns may prevent policymakers from lowering rates in March. The wait-and-see approach, along with worries about the banking sector and mixed earnings, could slow the market's recent rally. Despite some investors expecting a cut in March, the chances decreased.

DBS Group, Singapore's largest lender, is merging its equity capital markets, brokerage, and digital exchange with its treasury markets business. This move comes following the retirement of their group head of capital markets after 36 years with the company. The CEO believes this consolidation will provide synergy and better meet customers' needs.

Meta and Amazon both gained a combined $280 billion in stock value after strong quarterly results, while Apple lost $70 billion. Meta saw a 14% surge in stock and declared its first dividend, with a 25% revenue jump driven by advertising and device sales. Amazon also beat expectations and increased its market capitalization to $1.78 trillion.

The BMC has objected to the state government's proposal that 40% of all Transfer of Development Rights (TDR) must come from the Dharavi redevelopment project. They have stated that this will make it difficult to implement the Development Plan and may lead to reservations lapsing. They have also opposed the non-indexation of DRP TDR, stating that the project is a vital public project.

The Interim Budget 2024-25 has set a fiscal deficit target of 5.1% for FY25, but the high revenue deficit of 2% highlights the need to address widening inequalities and unemployment in India. The budget emphasizes on redistributive justice and macroeconomic stabilization, with a focus on fiscal consolidation and increased public infrastructure investment.

Haryana has implemented a Transit Oriented Development (TOD) policy to encourage properties near mass transit systems in Gurgaon and Faridabad. However, the policy has had little impact due to high land costs and slow progress in development projects. Developers are now hopeful with the Centre's focus on the policy. TOD zones are expected to boost economic activity and overall development.

Rajesh Bhatia, CIO of ITI Mutual Fund, rates the Interim Budget 9/10 and believes it focuses on fiscal consolidation and continued capex-led growth in infrastructure, renewable energy, housing, agriculture, and defence. He expects the budget deficit target of 5.1% for FY25 to be achievable and sees potential for PSUs and infrastructure stocks to perform well.

Geojit's report on Agri Picks Farmers in Andhra Pradesh have sown rabi crops over 1.39 mln ha as of Jan 31, down 14.5% from 1.63 mln ha a year ago, according to state government data. So far, nearly 61% of the targeted rabi crop area of 2.3 mln ha in the state has been covered, the data showed. The acreage of Bengal gram was down 15% on year at 280,000 ha, the data showed.

📊 Amid positive global cues, benchmark indices started on a positive note today. 📢 At 9:16 AM, the Sensex gained 382.54 points or 0.53% at 72,027.84. Nifty is higher by 122.85 points or 0.57% at 21,820.30. 📈 Adani Ports (⬆️3.01%), Nifty IT (⬆️1.22%) and Nifty Auto(⬆️0.09%) appeared as the top performers on the Nifty50 at the open. Tata Motors, Hero Moto in focus today!

Seven stocks out of the Nifty 50 basket have the potential to double their earnings next year, a Moneycontrol study has found. The shining seven include Shree Cement, CEAT, ACC, JK Cement, BEML, Motilal Oswal Financial and Birla Corp. The list is dominated by four cement stock, while the other three are from defence, brokerage and tyre businesses.

The interim budget may not directly impact the goal of Nifty reaching 50,000 by 2030. However, it sets a positive fiscal position with lower government borrowing and expected GDP growth, which could contribute to keeping interest rates low and encouraging private sector investment. The budget also supports both bottom-up (capital expenditure) and top-down (wealth effect) factors.

The interim budget 2024 showed a focus on fiscal prudence and prudent spending without any populist measures, especially with an upcoming election. The government aims to reduce the fiscal deficit target for FY25 to 5.1% and further to 4.5% for FY26. The budget has a positive impact on sectors like auto, cement, telecom, and financials, while equity markets are expected to remain neutral.

BLS E-Services successfully raised Rs 310.91 crore through its IPO, which was subscribed 162.47 times on the last day of bidding. Retail investors bid 237 times, HNIs picked 300.14 times and QIBs bought 123.3 times the allotted quota. The company plans to use the funds for strengthening technology infrastructure, organic growth initiatives, and inorganic growth through acquisitions.

The market is expected to remain rangebound in the coming sessions with immediate resistance at 21,850 for Nifty and support at 21,500. A clear breakthrough above 21,850 could lead to a rally towards previous highs, while failure to surpass this hurdle may lead to consolidation or a corrective phase. The Interim Budget and FOMC meet outcome did not significantly impact the market.