Indian banks have seen a significant decrease in non-performing assets, with the net NPA ratio falling to a 10-year low of 3.9% in March 2023. Uday Kotak, billionaire banker, credits regulators, policymakers, and practitioners for this success and believes that India can become a $30 trillion economy by growing at a modest 9% over the next 23 years. He also highlighted the importance.

JSW Steel, one of the major steelmakers in India, is considering using liquified petroleum gas (LPG) as an alternative to coal to reduce carbon emissions. They have approached LPG company Confidence Petroleum for plans to infuse LPG into their Anjar steel plant. This move comes after Tata Steel's announcement of talks with GAIL Ltd to replace diesel usage with liquified natural gas.

So far Adani group has incubated and listed six highly successful companies, including Adani Ports and SEZ, Adani Power, Adani Transmission, Adani Green Energy, Adani Total Gas, and Adani Wilmar. The group’s CFO Jugeshinder Singh recently said it plans to list Adani New Industries, Adani Airport Holdings, AdaniConneX, its metal and mining units, and Adani Road Transport between 2026 and 2028.

Juniper Green Energy and Envision Energy are working together to build a 300-MW wind energy project in Gujarat, with Envision supplying the turbines and overseeing installation and maintenance. The project aims to produce 1,000 GWh of clean energy per year and will be commissioned in phases by the end of 2025. Both companies are committed to supporting India's Atmanirbhar Bharat vision.

Jefferies India raised RIL's stock price target to Rs 3,140, highlighting its undervaluation compared to Nifty index. It retained a buy rating and increased EBITDA estimates for FY24/25 by 2%/1%, citing strong oil-to-chemical operations. The recent boost in diesel spreads and potential discounts on Venezuelan oil provide further upside potential.

Deepak Fertilisers and Petrochemicals Corporation saw a 10% surge in its share price after announcing a long-term supply agreement for LNG with Norway's Equinor. This will improve the company's value chain and provide a strong foundation for all its product segments. The agreement includes annual supplies of up to 0.65 million tonnes over 15 years, and also allows for trading LNG parcels.

Indian PSU stocks have become a hot investment choice, leading to record-high ownership of PSUs in MFs. After initially being restricted to largecap PSUs, MFs are now broadening their participation in the sector, attracted by its strong performance and potential for further growth under Modi's government. This trend is reinforced by sector-specific triggers.

The Indian rupee weakened slightly against the US dollar due to volatility in the market and economic data releases. India's retail inflation and trade balance showed improvements, while concerns about a Fed rate cut were heightened by US inflation rates surpassing expectations. The dollar index rose, while other economies' PMIs will be important to watch this week.

The Q3 of FY24 saw moderate revenue growth and reasonable net profit growth for banks, with a decline in net interest margin (NIM). Loan growth remains stable, but liquidity is still low. Private banks may see a consolidation phase in stock prices until margins improve. Meanwhile, post-correction, HDFC Bank, ICICI Bank, SBI, and Axis Bank are all viewed positively by InCred Equities analysts.

Gold And Silver Prices Today: Gold prices witnessed a marginal increase on the current day. The price of 24 carat gold stood at Rs.64002.0 per 10g, showing a rise of Rs.592.0. Meanwhile, the price of 22 carat gold was recorded at Rs.5862.6 per gm, up by Rs.542.0.The percentage change in the price of 24 carat gold over the past week has been 1.15%.

Reported Standalone quarterly numbers for Esaar (India) are: Net Sales at Rs 0.73 crore in December 2023 down 84.9% from Rs. 4.85 crore in December 2022. Quarterly Net Loss at Rs. 3.18 crore in December 2023 down 520.94% from Rs. 0.75 crore in December 2022. EBITDA stands negative at Rs. 1.12 crore in December 2023 down 142.26% from Rs. 2.65 crore in December 2022.

Step Two Corporation reported strong standalone quarterly numbers for December 2023, with significant increases in net sales, net profit, and EBITDA. Their EPS has also seen a notable increase compared to the same period in 2022. The company's shares have performed well over the past 6 and 12 months, with returns of 188.74% and 129.47% respectively. Promoter shareholding remains unchanged.

After hitting a nearly one-week high on Monday, gold prices marginally declined on Tuesday amid a stronger dollar and elevated Treasury yields, as investors awaited the minutes of the last US Federal Reserve policy meeting for more clues on its interest rate cut timing.The April gold futures were trading at Rs 61,954 per 10 grams on the MCX at 11.30 am and were down by Rs 50 or 0.08% from Monday.

Reported Standalone quarterly numbers for Indergiri Finance are: Net Sales at Rs 0.22 crore in December 2023 down 47.41% from Rs. 0.41 crore in December 2022. Quarterly Net Loss at Rs. 0.46 crore in December 2023 down 263.32% from Rs. 0.28 crore in December 2022. EBITDA stands negative at Rs. 0.40 crore in December 2023 down 221.21% from Rs. 0.33 crore in December 2022.

Ahmedabad civic body seals 3,501 shops for not paying property tax and recovers Rs 6.74 crore during the drive. It also issues notices to 179 offices/businesses for underpayment of professional tax and collected Rs 17.73 lakh. SWM department fines 106 people for spitting in public places and collects Rs 10,000.