This morning's top news includes the ongoing 20% drop in Paytm stock, reactions to the recent Indian budget from investment experts Shankar Sharma, Madhu Kela, Sandeep Tandon, and Prashant Jain, a 1% increase in Nifty and Sensex indices, the anticipation of IndiGo declaring record profits in their upcoming earnings report, Tata Motors' expected strong performance in Q3.

The share prices of HUDCO and NBCC India rose by up to 16% following Finance Minister Nirmala Sitharaman's promise in the Budget 2024 speech to develop 2 crore houses under the PM Awas Yojana (PMAY) Grameen in the next five years. The government has allocated Rs 80,671 crore for PMAY, a 49% increase from last year. HUDCO has seen a 360% rise in its stock price

Selected small renewable energy stocks in India have seen massive increases in their share prices, driven by retail speculation and the country's goal to boost clean energy. However, warnings signs indicate that these valuations are not sustainable, as production capacity increases and earnings struggle to keep up with gains. Similar patterns have been seen in other countries, such as the US.

Even as consumer discretionary major Titan Company missed analysts' estimates for the December ended quarter, a clutch of top brokerages retained their rating on the stock. Goldman Sachs and Nuvama reiterated their buy views, with the former expecting the Tata company to sustain its market share gains. Kotak Institutional Equities recommended an 'Add'.

With the vision of ‘Vikshit Bharat by 2047’, the Hon’ble Financial Minister Ms. Nirmala Sitharaman presented the Interim Budget for 2024-2025. Guided by the principle of ‘Reform, Perform and Transform’, the Government is committed to take up next generation reforms to realise the dream of developed India @ 2047. The 'Panch Pran' has indeed laid robust foundations.

Green energy stocks rallied after the budget day as BSE Sensex jumped more than 800 points and Nifty gained more than 240 points. Shares of KPI Green, KPEL Energy, Waree Renewables, Orient Green power, Websol Energy Systems  and Gensol Engineering are seen locked in the upper circuit while Suzlon shares are up by more than 3 percent. IREDA shares gain by more than 2.5 percent.

The income tax department has garnered about Rs 4,600 crore in taxes from 56 lakh updated I-T returns filed by taxpayers in the past two years, Central Board of Direct Taxes (CBDT) chief Nitin Gupta said. In a post budget interview to PTI TV, Gupta also said the I-T department has set up a demand management centre at Mysuru, Karnataka, which is focusing on disputed pending large tax demands.

Abbott India's Q3 earnings report showed a 26% increase in net profit and a nearly 9% increase in revenue despite government pricing limits on key drugs. The company's shares saw a 9% jump and high trading volume due to the strong performance. EBITDA margin also improved from last year. Popular products include antacid Digene and Thyronorm tablets for hypothyroidism treatment.

Adani Ports reported a 64% increase in net profit in Q3, beating analyst expectations and pushing the stock to a fresh 52-week high. Strong power sales and capacity utilization drove this growth. Analysts have a positive outlook on the company, citing robust cargo volumes, expansion plans, and potential for market share gains. The acquisition of Krishnapatnam Port has also raised its cargo volume.

Asian shares were boosted by strong earnings from tech giants Meta and Amazon, while investors are awaiting U.S. jobs data that could impact expectations for rate cuts. European markets are also expected to see gains. Concerns about regional U.S. banks continue, with the possibility of a March rate cut now at 40%. This has led to an increase in demand for safe-haven assets.

This week's action suggests that the Indian benchmark indices remain stuck in a range. They have ended negative in two out of four trading sessions. On Thursday, which was also the day when Finance Minister Nirmala Sitharaman gave her last Union Budget of the Modi 2.0 government, Nifty ended with a slight downtick of 28.25 points or 0.13% at 21,697.45.

Who is a partner in a firm Individuals who are partners in a firm and have capital invested in the firm as per the terms of partnership are required to file ITR-3. Additionally, anyone holding a ten percent or more interest in a company at any time during the relevant financial year should also choose Form ITR-3 to file their income tax returns.

As the fiscal year comes to an end, many people focus on optimizing their tax strategies. Health insurance not only provides protection for one's well-being but also offers tax savings through deductions on premiums under Section 80D of the Income Tax Act. However, yearly renewals can be a hassle with potential increases in premiums and paperwork.

The government's ambitious fiscal deficit target of 5.1% for FY25 has been praised by brokerages, with Nomura calling it "fiscal prudence pro max." The market reacted positively to the fiscal consolidation path, with the Sensex and Nifty trading higher. However, brokerages warn that the interim budget may impact rural plays and two-wheeler stocks, as populist measures were absent.

Finance Minister Nirmala Sitharaman has struck a balance between fiscal consolidation and boosting economic growth in the interim Budget. Investors have welcomed the budget and various stock ideas have emerged, including Tourism Finance Corporation, Pradhan Mantri Awas Yojana, rail stocks, solar stocks, microfinance stocks, agriculture and food processing, auto stocks, and power, oil and gas.