ISGEC Heavy Engineering Limited has recently received two orders – one for a Cement Waste Heat Recovery Boiler (CWHRB), and another for conducting Remnant Life Assessment (RLA) study. It helped the company stock hit a new 52-week high of Rs402 per piece in early deals. Each stock was trading at Rs390.00 up Rs 21.35 or 5.79% from its previous closing of Rs368.65 per piece on the BSE (10.02 am).

BSNL officers group opined the Centre should keep the telco off its divestment list and focus on revival as it has “potential to turn a corner”. K Sebastin, Secretary-General of SNEA stated, “Niti Aayog should not think about BSNL’s disinvestment. The government decided to revive it, and if 4G launch is taking place early, it will have a great potential to grow, and 5G can also be launched soon.”

India Gold MCX April futures are trading lower on February 2 tracking muted trends seen in the international spot prices. Silver March Futures also dipped more than 2%. On the Multi-Commodity Exchange (MCX), April contracts were trading lower by 0.60% at Rs 48,430 for 10 grams at 0920 hours. Silver March futures were trading 2.2% lower at Rs 72,032 a kilogram.

Indigo Paints stocks kick-started trading with a mammoth premium of 75% over its issue price on February 2, given the strong IPO subscription and Budget-driven bullish market sentiment. The stock opened at Rs 2607.50 on the BSE, against the public issue price of Rs 1,490, while the opening price on the National Stock Exchange was at Rs 2607.50, a 75% premium.

RBI appointed an external IT firm to conduct an audit of HDFC Bank’s IT Infrastructure and asked them to submit a report at the earliest. It is part of the RBI’s inspections to examine if the bank had improved on its digital capabilities following the recent issues. The HDFC bank also informed that the RBI move is in the backdrop of incidents of outages in the internet banking & mobile banking.

Ashok Leyland share price climbed a 52-week high of Rs 133, adding  9% in the early trade on February 2 on the back of January sales numbers and government announcement on vehicle scrappage policy. The company in the month of January 2021 has posted an 11% jump in its total sales at 13,126 units against 11,850 units in January 2020.

Auto stocks picked Monday as the FM announced a voluntary vehicle scrappage policy. Analysts are most bullish on Ashok Leyland as it benefits both from the scrappage policy and the Rs 18,000cr allocation for procurement of urban transport buses. Other leading automakers like Tata Motors, Mahindra and Mahindra, and Cummins also experienced a gain in stock price after the announcement.

FM Nirmala Sitharaman increased spending on rural infrastructure development by 34% to ₹40,000cr and doubled micro-irrigation corpus to ₹10,000cr among key reforms for creating jobs and boost farm incomes in the hinterland. Increased spending on rural infrastructure will help spur demand for daily household products and groceries— the FMCG sector that has already recovered strongly during theQ3.

Oil prices increased by 1% on Tuesday after major producers stated they were reducing crude output in line with their commitments on restraint, supporting a market thrown out of kilter by weak demand during the coronavirus pandemic. Brent crude was up 51 cents, or 0.9 per cent, at $56.86 a barrel by 0134 GMT, while U.S. oil gained 53 cents, or 1 per cent, to $54.08 a barrel.

Alphabet Inc will post the cost and operating profit of its Google Cloud business for the first time on Tuesday. the disclosure is expected to overshadow record overall quarterly sales for the internet's biggest platform for ads. The transparency marks a milestone after years of aggressive investment and comes as the COVID-19 pandemic is pushing more work, shopping and online entertainment.

The SEBI imposed ₹2.38cr penalty on 23 entities for fraudulent trading activities of Steel Exchange India Ltd shares. The fine has been levied in the range of ₹5 lakh to ₹8 lakh. An investigation was carried out by the regulator into the shares of SEIL during July to December 2017 period. Thereafter, SEBI concluded that the entities were connected to each other & indulged in synchronised trades.

Infrastructure sector is expected to receive a massive boost through the reforms to ease foreign investments. The move will enhance the prospects of companies like Larsen & Toubro, KNR Construction, UltraTech Cement, and DLF. The budget proposes to increase infrastructure allocation to Rs 5.54 lakh crore as against Rs 4.39 lakh crore in the revised estimates for FY21.

The RBI is under pressure to keep yields in check after the govt surprised bond markets with a mammoth borrowing plan. India will borrow a gross Rs12 trillion via bonds in the FY-22, higher than the Rs10.6 trillion estimated earlier. Bonds sold off on this announcement, with the benchmark 10-year yield raised 16 basis points to 6.06% while the 5.15% 2025 bond yield rose 27 basis points.

The chakka jam has been called by farmer leaders to reinforce their demands on repeal of farm laws, against repressive measures including suspension of internet and barricading of roads, and against the budget announced today. "There will be a country-wide agitation on February 6. We will block roads between 12pm and 3pm," Balbir Singh Rajewal of Bhartiya Kisan Union (R) said, according to ANI.

Castrol India reported -7.57% dip in total revenues for the Dec-20 quarter on a consolidated basis at Rs935.20cr. The company took a hit on the pandemic related issues and external challenges during the fourth quarter. However, the company has seen a good revival in the 2nd half of the calendar year compared to the 1st half. The consolidated PAT for the Q2-20 was down -30.8% at Rs187.70cr.