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.

High frequency trading firms were active in L&T, Indus Towers, and India Cements making some fast money by flipping trades in seconds on February 1. All the stocks closed lower. High-frequency trading firms (HTFs) – or algo firms on steroids –use complex algorithms and powerful computers to execute trades at lightning speeds. These firms typically try to capture the spread between the spot.

On February 1, the Nifty 50 saw volatility on the budget day, reaching resistance at 21,850 before ending with moderate gains. It negated a bearish formation and may fill a downside gap created on January 17 if it surpasses 21,850. It held key moving averages and experts expect a range-bound movement between 21,840 and 21,420. They suggest deploying an Iron Butterfly strategy with a probability.

Byju's, an Indian education technology startup valued at $22 billion in 2022, has filed for Chapter 11 bankruptcy in the US court of Delaware. Its US unit, Byju's Alpha, listed liabilities between $1 billion and $10 billion and assets between $500 million and $1 billion. The company is facing bankruptcy proceedings from lenders and has reportedly seen a decrease in valuation.

In the Interim Budget 2024, the government has proposed to increase the capex outlay for the next year by 11.1 percent to Rs 11,11,111 crore, focusing on essential infrastructure and economic growth. This could boost infrastructure development, with a significant portion directed towards roads, railways, and defence, potentially benefiting industries like steel and cement.

In January 2024, 23 companies opened up for retail investors to subscribe to their IPOs. The total amount raised was Rs 3,500 crore, with the Mainboard segment raising 5.6 times more than SME IPOs. Five companies in the Mainboard segment raised Rs 2,950 crore, with Medi Assist Healthcare and Jyoti CNC Automation leading the pack. In the SME segment, 18 companies collectively raised Rs 522.54 cr.

Four stocks, Indus Towers, India Cements, Steel Authority of India and Zee Entertainment, have been placed on the F&O ban list due to exceeding the market-wide position limit. The ban can be reversed if open interest for these stocks falls below 80 percent. National Aluminium Company and Hindustan Copper may also enter the ban list soon. Technicals show both stocks have been surging.

India's strong economic growth and potential for further development have been driven by past reforms and current efforts to promote digital infrastructure, female labor force participation, and innovation. As it aims to become a developed nation by 2047, the country must continue to manage its public finances and support entrepreneurship.

Meta Platforms, the parent company of Facebook, issued its first dividend ahead of the social network's 20th anniversary. The company reported strong revenue and profit due to high ad sales during the holiday season, leading to a 14% jump in after-hours trading. This puts Meta's value at over $140 billion and marks its successful recovery from a dip in 2022.

Chennai's skyline along railway tracks is expected to grow with the state government's decision to bring MRTS and suburban corridors under transit-oriented development, resulting in a 50% waiver in premium FSI charges for properties constructed within 500 meters on either side. This move aims to improve affordability for middle-class homebuyers and benefit developments along the existing MRTS.

Fitch Ratings has stated that India's fiscal deficit reduction does not greatly impact their credit profile, but the government's focus on reducing deficits will help stabilize the debt-to-GDP ratio over the next five years. The budget also shows a commitment to fiscal consolidation and infrastructure investments if the current government returns to power. Moody's has also praised the budget.

Delaplex had a successful market debut on February 2, with a listing price 61% higher than its IPO price. However, this was lower than the grey market premium of 75.5%, which investors use to predict the listing price. The Rs 46-crore IPO included both fresh shares and an offer for sale. In the last fiscal year, Delaplex's revenue increased by 9%, while their net profit rose from Rs 6.1 crore.

In the fourth quarter of 2023, Amazon's revenue exceeded expectations due to strong holiday sales fueled by new generative AI features in its cloud and ecommerce businesses. Despite competition in the cloud market from Microsoft, AWS CEO Andy Jassy remains confident in the long-term potential of generative AI revenue. While AWS saw significant growth, the company also faced backlash.

The interim budget presented by Finance Minister Nirmala Sitharaman showcased the government's confidence, continuation of past policies, and communication of its vision for a developed and prosperous India. The announcement of budget numbers was received well by the market, with fiscal deficit and borrowing targets being lower than expectations. Sectors such as financials, housing.

The Union Budget 2024 aims for balanced economic growth and inclusive development, focusing on tax simplification, boosting tourism, enhancing regional connectivity, improving infrastructure, empowering women and youth, social security, and creating a resilient financial ecosystem. The budget also hints at possible future initiatives, such as incentivizing insurance purchases.