Japan's Nikkei share average nears all-time peak thanks to strong forecasts from U.S. chipmaker Nvidia. Beijing's efforts to boost market confidence temper regional mood, while U.S. Federal Reserve confirms slow interest rate cuts. Asian tech stocks rise but Hang Seng slips after 7-day streak. Market experts predict continued growth driven by AI and easing concerns over stretched valuations.

ICICI Bank has raised interest rates on select fixed deposit (FD) tenures, offering a maximum return of 7.75% to senior citizens. The latest hike is effective from 17 February and the highest interest rate is for deposits maturing in 15 months to two years. This follows similar moves by HDFC Bank, SBI, and Kotak Mahindra Bank, which have also raised their FD interest rates for customers.

In February, Indian business activity grew at its fastest pace in 7 months with strong demand for both manufacturing and services. Price pressures also eased. A survey showed that India will continue to grow steadily according to a Reuters poll. The PMI rose to 61.5 and new export orders increased sharply. However, employment did not increase for the first time since May 2022.

The Central Board of Direct Taxes (CBDT) has fixed the maximum ceiling limit as Rs 1 lakh for waiving eligible income tax demands. However, in an order dated February 13, 2024, CBDT said that future interest will not make part of this calculation of the overall amount of income tax demand. CBDT said in the order, Consequent to the aforesaid remission and extinguishment of entries.

Plan strategically to maximize income tax savings before the March deadline. Look into options like EPF, life insurance, tuition fees, and home loan repayments under Section 80C for deductions up to ₹1.5 lakh. For the old tax regime, consider LIC/PPF/FD/mutual funds. Under Section 80D, medical insurance and health expenses can also provide deductions. Donate to eligible charities for additional.

Reported Consolidated quarterly numbers for Mukta Arts are: Net Sales at Rs 53.82 crore in December 2023 up 28.16% from Rs. 41.99 crore in December 2022. Quarterly Net Loss at Rs. 0.19 crore in December 2023 up 93.64% from Rs. 2.94 crore in December 2022. EBITDA stands at Rs. 8.82 crore in December 2023 up 34.86% from Rs. 6.54 crore in December 2022. Mukta Arts shares closed at 87.25

The stock prices of Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) have seen a significant increase in the last few months. This is due to the strong rally in crude prices, which has led to higher margins for these companies. However, foreign brokerage firm CLSA has noted that these stocks are currently trading.

The Securities and Exchange Board of India (Sebi) will question the top management of Zee Entertainment Enterprises (ZEE) - including founder Subhash Chandra, chief executive and managing director Punit Goenka, the chief financial officer, as well as current and past board members - on the alleged fund diversion at the media firm, said two people close to the development.

Juniper Hotels IPO received a lackluster response from investors, with only 13% subscription on the second day of bidding. It plans to raise Rs 1,800 crore through fresh issuance of shares and will use the funds to repay loans and for corporate purposes. The anchor book opened on Feb 20 and raised Rs 810 crore from various investors. The company's losses have narrowed and revenue doubled.

China is taking aggressive measures to support their stock market, which has been declining for the past four years. The securities watchdog has banned major institutions from selling more shares than they buy at the open and close of each trading day, and is closely monitoring short-selling activities. The tightening grip may affect hedge funds and other institutional investors.

Indian stock market is set for a positive opening on Thursday, with GIFT Nifty indicating gains for BSE Sensex and NSE Nifty 50. However, market experts warn of stiff resistance at higher levels and caution due to US FED minutes and Chinese interventions. US stocks ended lower on Wednesday, while Asian markets are trading in green.

Weak global market sentiments lead to Indian stock market ending lower on Wednesday, with the Nifty 50 index and BSE Sensex dropping by 141 and 434 points respectively. The Bank Nifty index also closed lower. Resistance for Nifty is seen at 22,300 level and immediate support at 22,000 mark. Bank Nifty could see a daily range of 46,600 to 47,500 levels.

ITC is considering purchasing a 47% stake in Prataap Snacks from Peak XV Partners. This comes after failed negotiations with Haldiram's and other potential buyout funds are also being tapped. The deal would trigger an open offer for an additional 26% of the company. Prataap has been struggling since its stock market debut and PE funds are hesitant due to competition and thin margins.

The Indian government has relaxed FDI norms in the space sector, allowing up to 100% FDI through the automatic route in satellite manufacturing and other segments. This move is expected to boost the country's access to technology and funding from foreign investors. Private players, especially start-ups, have welcomed the decision and believe it will provide much-needed regulatory clarity.

Bank fixed deposits (FDs) are a popular and safe savings option in India. With the current high interest rates, there is a temptation to maximize returns by investing in risky corporate FDs. However, it is important to stick to simple bank FDs backed by stable banks, or consider diversifying with a small portion into deposit-taking NBFCs offering slightly higher rates.