PSU stocks in the Indian market have emerged as significant wealth generators, with a 300% return within a year due to increased capex and expected political stability. However, concerns over weak earnings and overbought conditions may limit further upside. Jefferies believes there is potential for a 15% increase in the PSU Index ratio.

The CBDT has announced that it has started remitting and extinguishing eligible outstanding direct tax demands up to a limit of Rs. 1 lakh for taxpayers. This is in line with the order dated February 13, 2024, and will be reflected under the "Extinguished Demands" section on the income tax portal. According to the Interim Budget of 2024, this is expected to benefit over a crore taxpayers.

Mangalore Refinery & Petrochemicals stock has gained 113% this year with strong monthly gains of nearly 60% in February and 33% in January. Despite downgrades from analysts, MRPL's Q3 earnings showed a net profit of Rs 310 crore. The company is on track for expansion and reduction of long-term borrowings, making it an attractive investment opportunity with a higher expected return on equity.

Over the weekend, Bitcoin saw little change while Ethereum gained over 5% amid hopes for an ETH ETF. AI-related tokens also saw gains as OpenAI's Sora launched a text-to-video generator. Some market observers predict Bitcoin to reach $55,000 in the short term and $70,000 in the long term, with more hype around Ethereum and potential for a spot ETF in the US.

Private equity firms in India participated in the Investors Cricket Cup in Mumbai, with The Mavericks emerging as champions. The tournament also saw a women's division, won by Rising Divas. A cement company is exploring offshore mineral exploration, while a central minister is preparing for upcoming elections after being asked to switch from a Rajya Sabha seat.

The Nifty Pharma index is near its 52-week high and has seen impressive returns of over 60% in the past year. It is currently overbought but could still have potential for upward movement, according to experts. Biotech giants like Biocon, Dr Reddy's, and Cipla offer attractive valuations and potential upside. The index is expected to outperform the broader market.

India's sugar production has decreased by 2.48% in the current marketing year, with a projected decline of 10% for the entire year. Production in key states like Maharashtra, Karnataka, Gujarat, and Tamil Nadu has been lower. However, Uttar Pradesh saw an increase in sugar output. 505 factories were operating as of February 15, with 22 closing operations in Maharashtra and Karnataka.

The Investment Trust of India reports positive consolidated quarterly results in December 2023. Net sales increased by 0.39% while net profit saw a significant increase of 2435.08%. EBITDA also rose by 147.78% and EPS increased from Rs. 0.05 to Rs. 1.15. The company's shares have seen strong growth over the past 6 and 12 months. Additional details on expenditure, taxes, and shareholding.

Prismx Global Ventures Limited reported its quarterly results for December 2023, showing a decrease in net sales to Rs. 2.73 crore, down by 61.6% from the previous year. However, their net profit increased by 148.02%, reaching Rs. 1.46 crore. EBITDA also saw an increase of 158.55%. The company's EPS has gone up from Rs. 0.70 to Rs. 0.03.

Insecticides India reported its quarterly results for December 2023, with a net sales of Rs. 357.94 crore, representing a 0.4% increase from the same period in 2022. Net profit also saw a significant increase of 31.41%, reaching Rs. 12.31 crore. EBITDA increased to Rs. 27.23 crore, a 15.23% rise from the previous year.

Archean Chemical Industries reported a 13.07% increase in net sales at Rs. 412.63 crore in December 2023 compared to the same period in 2022. Net profit also increased by 3.54%. However, EBITDA decreased by 7.61% and EPS decreased from Rs. 8.75 to Rs. 8.24. Shareholders saw a 20.38% return over the past 6 months and 3.

Varun Beverages reported strong quarterly numbers for December 2023, with net sales increasing by 20.48% and net profit rising by 76.55% compared to the same period in 2022. EBITDA also saw a significant increase of 34.93%. However, their EPS decreased from Rs. 1.15 to Rs. 1.02. Varun Beverages' shares closed at Rs 1,423.05 on February 16.

Gujarat Alkalies and Chemicals reported a decrease in net sales and net loss for the quarter ending December 2023 compared to the same quarter in 2022. EBITDA also decreased significantly. The company's shares have seen positive returns over the last 6 and 12 months. Promoters and promoter group do not hold any shares.

"IREDA and PNB signed an MoU to collaborate on financing renewable energy projects in India, aiming to support the country's goal of achieving 500 GW of non-fossil-fuel-based electricity generation by 2030. This partnership will streamline access to finance for developers and improve the financial management of project funds."

ICICI Direct, Rupee on Friday hovered in a tight range and ended little changed as dollar demand from importers worn the impact of supportive global cues. Dollar retreated amid concerns about strength of the US economy. Sell USDINR; target of : 82.90 : February 19, 2024: ICICI Direct. Indian currency market will remain closed today on account of holiday.