Sensex ends Interim Budget session 107 pts down; PSBs shine, Paytm dips 20%

The Nifty ended below 21,700, down 28 points. Maruti, Power Grid, Axis Bank and SBI were the top Sensex 30 gainers, while L&T shed 2 per cent on Thursday. Rail stocks slipped on profit-taking.

4:03 PM

BSE Smallcap Heatmap:: ITDC, HUDCO zooms 20%; India Cement tanks 7%

4:02 PM

BSE Midcap Heatmap:: PUS Banks shine; Aurobindo, Voltas tumble

3:59 PM

Sectoral ALERT:: Nifty PSU Bank index soars 3%; PSB, IOB lead

3:57 PM

Broader Market Check:: MidCap, SmallCap indices dip around 0.5%; India Vix falls 10%

3:55 PM

Nifty50 Movers & Shakers:: Maruti, Power Grid shine; Grasim, L&T crack

3:53 PM

Sensex 30 Heatmap:: 9 Gainers v/s 21 Losers

3:52 PM

CLOSING BELL:: NSE Nifty50 settled with a loss of 28 pts at 21,697

3:49 PM

CLOSING BELL:: S&P BSE Sensex ends 107 pts lower at 71,645

3:29 PM

Strong emphasis on fiscal consolidation and public investment: Sujan Hajra

Given the robust tax buoyancy seen in recent years and the govt's modest expenditure plans, it is conceivable that the actual fiscal outcomes next year may surpass the budget's projections. READ MORE

3:21 PM

Earnings ALERT:: Titan Q3 net up 15%; stock slips 2%

Titan today reported a 15.4 per cent growth in Q3 consolidated net at Rs 1,053 crore for the quarter ended December 2023 as against Rs 913 crore in the year ago quarter. Total income jumped 24.1 per cent YoY to Rs 14,122 crore from Rs 11,383 crore.

3:13 PM

SBI, BoB, PSB: Track of these levels while riding the rally in PSU Banks

The Nifty PSU Bank index was the top performing sector post Interim Budget on Thursday; the index was up almost 12 per cent in the last four days. READ MORE

2:53 PM

Maruti posts highest ever monthly sales at 199,364 in January

Maruti Suzuki India sold a total of 199,364 units, which is its highest ever monthly sales volume. This is against 172,535 units sold in January last year. 

2:50 PM

Budget 2024: Sitharaman bats for developing iconic tourist destinations

Finance Minister Nirmala Sitharaman, in her Budget speech on Thursday, announced that states will be encouraged to undertake development of iconic tourist destinations.

The finance minister announced that long-term interest-free loans will be provided to states for financing the development of iconic tourist centres on a matching basis, and for branding and marketing them at a global scale. Read

2:34 PM

Aurobindo Pharma sinks 10% as formulation unit undergoes US FDA inspection

Shares of Aurobindo Pharma slipped 10 per cent to Rs 1,035.45 on the BSE in Thursday’s intra-day trade after it said US drug regulator is inspecting Unit 4 in Telangana. Read

2:16 PM

Aether Industries dips 3% as Q3 profit halves

Net Profit for Q3 dropped 50% YoY to Rs 17.4 crore. 

2:00 PM

Tech View: Dominant shorts seen in Nifty futures by FIIs

As expected, VIX has cooled off after the budget event which primarily has been a non-event for most of the market except PSU Banks and Auto stocks which have seen most of the buying action.

Nifty still trades near to its resistance area of 21,750 - 21,800 along with dominant shorts in index futures from FII’s. Bulls have to clear this area for any further action on the upside. Supports placed at 21,450 and 21,200.

Views by Rahul Sharma Head Technical and Derivatives Research, JM Financial Services.

1:41 PM

This state-owned housing finance stock has zoomed 305% in past 1 year

Shares of Housing & Urban Development Corporation (HUDCO) hit a new high of Rs 189.65, as they rallied 10 per cent on the BSE in Thursday’s intra-day trades amid heavy volumes. 
 

At 12:37 PM; the stock of state-owned financial institution company was quoting 5 per cent higher at Rs 180.60 after the Finance Minister Nirmala Sitharaman said Pradhan Mantri Awas Yojana (Grameen) close to achieving target of 30 million houses, additional 20 million targeted for next 5 years. The government will launch a housing scheme for the deserving middle class to buy or build their own houses. Read

1:29 PM

Tata Motors total domestic sales rise 6% YoY in Jan

Combined domestic and international sales were at 86,125 vehicles compared to 81,069 units last year.

Total PV Sales rise 12% YoY to 54,033 units
 

Total CV Sales fall 2% to 32,092 units

1:16 PM

Views: Housing boost for middle-class can have great long-term impact

The 11.1% increase in infrastructure outlay, which is 3.4% of GDP will further enhance the railway, roads and logistics infrastructure of the country.

The three new economic railway corridors identified under the PM Gati Shakti program are massive projects with the potential to grow economic hubs and boost development of the tier-2 and tier-3 cities along their alignment.

The intention to complete 2 cr housing units in the next five years will aid the ‘Housing for All’ mission of the government.

Additionally, the proposed boost to housing for the middle-class living in sub-par accommodation is also a welcome inclusion. We look forward to the details of this as we expect this to have great long-term ramifications. 

Further, the enhanced focus on domestic tourism development will provide a fillip to the hospitality industry.

Views by Shishir Baijal, Chairman and MD, Knight Frank India

 

1:02 PM

Q3 ALERT:: Adani Ports Q3 net soars 65%; stock up 2%

Adani Ports & Special Economic Zone today posted a 65.2 per cent growth in Q3 consolidated net profit at Rs 2,208.21 crore for the quarter ended December 2023 when compared with Rs 1,336.51 crore in the corresponding quarter a year ago. Total income rose 47 per cent YoY to Rs 7,426.95 crore from Rs 5,051.17 crore in the same period.

12:53 PM

COMMENT:: Priortization of fiscal consolidation; housing boost are key positives

"The hallmark of this interim Budget is its fiscal rectitude. The fact that the Government has prioritised fiscal consolidation over populism on the eve of general elections is commendable. The fiscal deficit numbers of 5.8 per cent in the revised estimates for FY24 and 5.1 per cent for FY25 are better than the most optimistic expectations. This is very good news for the economy and consequently for the market. The boost to housing is another important proposal from the market perspective since this will benefit industries like cement, steel and all construction related segments."

 

-  Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

12:43 PM

Budget 2024: 'Governance, development, performance,' FM redefines GDP

Emphasising the government's narrative of inclusive growth, Sitharaman said the next five years will have golden moments in the Indian economy. READ MORE

12:37 PM

Godrej Consumer Products soars 12%, hits new high on Ebitda beat in Q3

Analysts believe the execution machinery being put in place by GCPL is yielding good results with improvement seen in underlying metrics alongside higher cash-generation. READ MORE

12:30 PM

Tamilnad Mercantile Bank non-exec director quits for 'compelling reasons'

P C G Asok Kumar, a non-executive director of Tamilnad Mercantile Bank (TMB) has resigned from his post for “compelling reasons”. He later said the bank's inability to match the performance of its peers is the reason for his resignation. READ MORE

12:19 PM

ED conducting searches at India Cements Ltd offices in Fema probe

The probe pertains to the affairs of its associate company India Cements Capital Ltd (ICCL) and the transfer of funds abroad worth about Rs 550 crore. READ MORE

12:12 PM

FY25 Interim Budget document: Rail spending allocation at Rs 2.55 trillion

12:01 PM

FY25 Interim Budget LIVE: FM wraps up budget speech

11:58 AM

FY25 Interim Budget LIVE: To create Rs 1 trilllion corpus for long-term financing of tech sector

Will encourage deep tech development for defence, says FM

11:54 AM

FY25 Interim Budget LIVE: Propose no changes to direct, indirect tax rates, says FM

11:54 AM

Market check:: Sensex up nearly 200 pts