Indian kirana store owners are turning to other payment apps following restrictions imposed by RBI on Paytm Payments Bank. Within a week of the announcement, 42% of stores have switched to alternative apps, with PhonePe being the most preferred choice. A survey also reveals a decline in trust for Paytm and a growing trend towards cashless transactions at local stores in states like UP and Bihar.

Patanjali Foods' shares dropped 6% in Friday's trade after reporting a 19% drop in net profit for the quarter ended December. Despite growth in the FMCG business, overall revenue fell by 0.2%. EBITDA also declined by 7%. The stock has gained 70% in the past year and analysts have given a strong buy recommendation with a target price of Rs 1,773.

Reported Standalone quarterly numbers for Shilpa Medicare are: Net Sales at Rs 63.98 crore in December 2023 up 23.89% from Rs. 51.64 crore in December 2022. Quarterly Net Profit at Rs. 2.70 crore in December 2023 up 156.34% from Rs. 4.79 crore in December 2022. EBITDA stands at Rs. 19.02 crore in December 2023 up 159.13% from Rs. 7.34 crore in December 2022.

Orchid Pharma reported significant growth in its standalone quarterly numbers with an increase in net sales, net profit, and EBITDA. EPS has also shown a substantial increase. During the last 6 months, Orchid Pharma's shares have gained 44.23%, and over the last 12 months, they have gained 125.85%. The company also disclosed details of expenditure, other income, and PAT for the period.

In the December quarter of 2023, Life Insurance Corporation of India reported a 8.32% increase in net sales at Rs. 213,344.77 crore and a 49.1% increase in net profit at Rs. 9,444.42 crore compared to the same period in 2022. The company's EBITDA stood at Rs. 10,863.35 crore, up 2.25% from the previous year.

The government is introducing a GPS-based toll collection system on national highways, alongside the existing FASTag system. A consultant has been appointed for implementation and NHAI is encouraging users to complete their KYC process. The aim is to make the system 100% compliant and avoid inconvenience by deactivating/blacklisting multiple FASTags issued for a single vehicle.

Veljan Denison reported strong standalone quarterly numbers in December 2023, with a 17.58% increase in net sales, a 64.61% increase in net profit, and a 43.26% increase in EBITDA. The EPS also increased from Rs.14.34 to Rs.23.61. The stock price has performed well, giving returns of 37.62% over the last 6 months.

India's coffee exports are expected to drop by 15-20% this year due to soaring prices and shipping problems. There is a global shortage of robusta coffee, causing Indian prices to rise by 50-60%. The decrease in exports is also attributed to slow arrivals in the market and growers holding onto their stock in anticipation of even higher prices.

Gold and silver prices continue to decline due to lack of demand, possible Fed rate cut pushback, and a stronger dollar index. Global trends show MCX April gold futures trading at Rs 62,447 per 10 grams, while March Silver contracts are up to Rs 70,977 per kg. Experts predict gold to trade between Rs 62,200 and Rs 62,600, with resistance at Rs 62,800-63,100.

Jefferies has upgraded its rating on pharmaceutical company Lupin from Underperform to Hold, with a revised target price of Rs 1,460 per share. This is due to projected revenue growth and high-margin segments in the upcoming years. However, there are still cautionary factors such as the early stages of business improvement, concentration risk associated with gSpiriva.

Maruti Suzuki India on Friday said its Multi-purpose Vehicle (MPV) Ertiga has crossed the 10 lakh sales milestone. "The Ertiga has redefined the concept of an MPV as a stylish and technologically advanced offering," Maruti Suzuki India Senior Executive Officer, Marketing & Sales, Shashank Srivastava said in a statement.

Oil prices were little changed on Friday, staying on track for weekly gains, with tensions persisting in the Middle East after Israel rejected a ceasefire offer from Hamas. Brent crude futures slipped 1 cent to $81.62 a barrel by 0334 GMT, while U.S. West Texas Intermediate crude futures rose 3 cents to $76.25 a barrel. Both benchmarks rose about 3% in the previous session.

The Reserve Bank of India will streamline the process of onboarding the Aadhaar-enabled payment system (AePS) service providers and introduce additional fraud risk management measures. Right now, there is no two-factor authentication for Aadhaar-enabled payments, which is risky and the cause for many frauds. The customer can pay the merchant by entering their Aadhaar number and biometrics.

Despite the correction, the Nifty has maintained a higher top and higher bottom formation, making an Inside Week candle pattern in the latest week, indicating range-bound movement of the index. However, on the daily charts, the index faces resistance at higher levels and has formed a lower top and lower bottom pattern, signalling short-term profit-booking at higher levels.

Indian Rupee has been the most stable among emerging markets and is likely to remain so as the RBI assured the Current Account Deficit is `eminently manageable' next fiscal too, RBI governor Shaktikanta Das said after the monetary policy committee meet on Thursday. India’s current account deficit (CAD) eased sharply to 1.0 per cent of GDP in the September quarter from 3.8 per cent.