Tamboli Industries reported a 43.11% decrease in net sales at Rs. 0.31 crore in December 2023 compared to the same period in 2022. However, their quarterly net profit increased by 36.28% to Rs. 0.09 crore and EBITDA also saw a growth of 37.5%. The company's EPS rose from Rs. 0.06 in December 2022 to Rs. 0.09 in December 2023.

Hikal reported standalone quarterly numbers for December 2023, with net sales at Rs. 447.57 crore, down 17.15% from the previous quarter in December 2022. Net profit also decreased to Rs. 16.27 crore, a 38.39% drop from December 2022. EBITDA was at Rs. 64.95 crore, a decrease of 15.75%. Hikal's EPS also decreased to Rs. 1.

LIC shares expected to rise after reporting strong quarterly earnings with 49% increase in net profit and 4.67% growth in net premium income. Plans for future growth and potential improvements were discussed by LIC Chairman. An interim dividend of Rs 4 per share was announced, with a total outgo of Rs 2,529 crore. LIC's market capitalisation has surpassed Rs 7 lakh crore.

Indian asset managers are shifting their offshore fund business from financial hubs like Dubai and Singapore to Gujarat's GIFT City. The government is promoting GIFT City as a gateway for global capital, offering tax breaks and incentives. Several top Indian asset managers have already moved or plan to move to GIFT City due to its stable regulations and proximity to Indian markets.

India's ONGC plans to restart operations in Libya and increase production in Venezuela. Both countries have been politically unstable, causing the company to pull out staff in 2011. Talks are ongoing with stakeholders for drilling in Libya and ramping up production in Venezuela. ONGC will also start drilling in Andaman Islands and Cauvery Delta in South India soon, but requires tax rebates.

IREDA stock falls 5% after a strong rally, recording its third successive loss and extending losses to as much as 14%. The stock has been on a course correction since hitting an all-time high of Rs 214.80 earlier this week. Despite the recent correction, it has delivered superior returns of nearly 200% since its listing in November 2023.

The equity markets saw a marginal recovery from the morning lows, with the Sensex and Nifty inching up 0.10% and 0.05%, respectively. India VIX, the fear gauge, was at 16 levels, indicating potential volatility ahead. Major sectors were in the red, with significant positions taken at 21,700, 21,750, and 21,800 strikes. Technical analysts see key support at 21,670.

The town planning department carried out a survey in Gurugram to identify illegal colonies that have emerged in the past two years. Two such colonies were demolished and show-cause notices have been issued to offenders for developing these colonies without proper approval. A detailed survey in Farrukhnagar is also underway.

Grasim Industries Ltd, part of Aditya Birla Group, reported a 41.5% decline in net profit for Q3 of FY23, but its revenue from operations went up by 11.61%. The growth was driven by key subsidiaries UltraTech Cement and Aditya Birla Capital. Consolidated PAT was up by 48% YoY on a comparable basis. Total expenses were at Rs 28,749.44 crore.

Inflation is a widespread issue, particularly in India, due to excessive government spending. This, along with geopolitical uncertainties, may lead to devaluation of currencies like the USD. As a result, investing in cryptocurrencies like Bitcoin may be beneficial as they are not affected by government policies and can provide good returns. However, crypto assets have their own challenges.

Biocon Biologics Ltd (BBL) has entered a five-year partnership with Sandoz AG to sell cancer biosimilars in Australia starting from 2024. This deal gives Sandoz exclusive rights to distribute Trastuzumab and Bevacizumab, two medications used in cancer treatment, with a combined market value of AUD$80 million. BBL's Chief Commercial Officer sees this as a crucial step for patients.

SoftBank Group Corp., a Tokyo-based tech investor, sold majority of its stake in Indian fintech firm Paytm due to growing uncertainty in the country's regulatory environment and over Paytm Payments Bank Ltd.'s license. They have been offloading shares since November 2020, reducing their stake from 18.5% to 5%. SoftBank has not disclosed what they will do with their remaining stake.

Jefferies has downgraded its rating for Tata Consumer Products to "Hold" from "Buy" after British American Tobacco announced its plans to reduce its stake in the company. The target price has also been lowered, citing potential uncertainties in tobacco taxation and projected soft volume growth. Nevertheless, the brokerage house expects moderate earnings growth and predicts significant margin.

Oil prices rose this week as tensions in West Asia continued to escalate. Israel's rejection of a ceasefire offer from Hamas and US strikes against Iran-backed militia in Iraq and Syria added to the uncertainty. Gold prices also increased, while copper prices were pushed up by higher spot demand. Both oil and gold are expected to trade within their recent ranges due to a balanced market.

Jefferies has downgraded its rating for Tata Consumer Products to "Hold" from "Buy" after BAT announced its plans to reduce its stake in the company. The target price has also been lowered, citing potential uncertainties in tobacco taxation and projected soft volume growth. However, the brokerage house expects moderate earnings growth and predicts significant margin and FMCG revenue increases.