Currently, various measures have been taken by the GOI, like the introduction of FAME subsidy, state policies, the setting up of EV charging ecosystems, and the rolling out of PLI schemes. For the Union Budget 2024, the industry expects long-term measures that promote EV adoption, such as reduced GST rates, extensions of FAME-II subsidies, and increased infrastructure spending for changing infrastructure.

Finance Minister Nirmala Sitharaman is set to unveil the Interim Budget for the fiscal year 2024-2025. The budget will focus on fiscal consolidation and controlled growth in capital expenditure. The funds allocated in this interim budget will sustain the country until the new government assumes office post-elections. Major policy announcements are generally avoided in interim budgets to prevent financial burdens on the succeeding government.

A long buildup is when there is a rise in open interest and volumes along with an increase in the price of the underlying stock in the Futures and Options segment. The long buildup is the occurrence of a long (buying) trend in the share market. In Wednesday's trading session, five stocks witnessed a build of fresh long positions. Here's the list:

IDFC’s daily trend is bullish to sideways. The RSI for weekly and daily are showing sideways momentum, however, the RSI for the monthly is showing bullish momentum. Based on option chain analysis, the range is between 115 and 120. Let’s plan a trade around this.

In talks with the Association of Mutual Funds in India (AMFI) this month, the Securities and Exchange Board of India (SEBI) asked for small and mid-cap funds' internal stress tests so it could determine if they would have adequate liquidity to meet any large outflows, the sources said.

The Budget 2024 is anticipated for its potential impact on salaried employees. Expectations include reforms to boost market confidence, such as increasing foreign direct investment (FDI) and simplifying the process for Initial Public Offerings (IPOs).

A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Tuesday’s trading session, five stocks witnessed a build of fresh short positions. Here's the list:

After witnessing a sharp fall, the nifty bank has witnessed a minor bounce back. A part of that bounce back happened due to short covering in private banking space, another one is due to continued rise of the PSU space. What needs to be watched is whether any negative is able to have a strong impact on private bank space, if not then probably a comeback would soon be on cards. For contrarian and short term traders it is time to put the whole banking space on the watchlist. But again this is trade for high risk traders or investors who have the ability to take a stand against market narrative and take a tactical trade. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.

To give impetus to the International Financial Service Centre (‘IFSC’), pass-through status has already been granted to Category III AIFs incorporated in IFSC.

Finance Minister Nirmala Sitharaman will present the interim Budget, which will focus on government spending on infrastructure. The Narendra Modi government's spending on infrastructure has been growing at a 30% CAGR in the last 4 years. The government is expected to raise allocation towards rail, roads, and other infrastructure projects. Infrastructure-related companies in construction, cement, and steel could benefit from increased government spending. Railways capex is expected to further increase to 20% growth YoY while defense spending growth may be in single digits.

While Citi and Motilal Oswal have reposed faith on the counter, maintaining a 'Buy' stance, Kotak Institutional Equities downgraded the stock to 'Sell' from an earlier 'Reduce' stance.

PB Fintech's first-ever profit catapulted its stock to a fresh 52-week high. Target price upgrades served as the icing on the cake. BofA raised the target, retaining its neutral rating. Kotak Institutional Equities maintained a buy view relying on broad-based growth. Nuvama raised the price target but retained the 'reduce' rating on rich valuations. PB Fintech reported a consolidated net profit of Rs 38 crore, against a loss a year ago. Revenue increased 43% YoY to Rs 871 crore.

Indian equity indices traded higher ahead of the US Federal Reserve's policy decision and commentary. BSE Sensex and Nifty50 showed marginal gains. L&T shares fell on weak December quarter profit and rising logistics costs. Nifty Bank index dropped due to Kotak Bank. The focus is on Fed Chair Jerome Powell's press conference. US job openings unexpectedly increased, giving the Fed room to keep rates higher. Experts expect first rate cut in June 2024. Asian shares fell, while oil prices and Indian rupee declined.

The Interim Budget 2024, to be presented by Finance Minister Nirmala Sitharaman, is expected to impact investors in rail, defence, and other capex-related stocks. The budget is likely to continue its focus on infrastructure development, including ports, airports, railways, and highways. Last year's budget allocated the highest percentage of expenses towards capex in two decades, indicating a long-term planning approach by the government.

The US Federal Reserve is expected to maintain the federal funds rate unchanged at the conclusion of its monetary policy meeting. Investors are focused on the Fed's stance on quantitative tightening and its guidance on rate cuts in 2024. Recent economic data showed strength in the US economy, but the battle against inflation continues.

Citigroup maintained a buy rating on L&T with a target price of Rs 4082. "The company reported healthy order inflows and execution. The December quarter earnings were in line with estimates, but muted margins were reported in Q3," Citigroup said.

Nova Agritech listed on exchanges with a 36.6% premium, debuting at Rs 56 on BSE and Rs 55 on NSE. The IPO received over 100 times subscription as non-institutional and institutional investors bid heavily. The company's solid financial track record and impressive ROE of 32.1% attracted analysts. Proceeds from the IPO will be used for subsidiary investment, capex, working capital, and investment in Nova Agri Sciences. Nova Agri Sciences contributes significantly to Nova Agritech's revenue by manufacturing crop protection products.

JK Cement reported a robust set of numbers for the quarter ended December, and it seems to be best placed among the regional players, given its expansion plans and strong execution strategy, says Sneha Poddar of Motilal Oswal Financial.

The selloff following the tech giants' reports after the bell underscored investors' elevated expectations following an AI-fueled stock market rally in recent months that propelled their shares to record highs with the promise of incorporating the technology across the corporate landscape.

Nifty 50 opened higher but lost energy soon and closed with a loss.

L&T shares fell 5% in early trade after the company missed the December quarter profit view and flagged rising logistics costs.

Sensex falls over 200 pts, Nifty below 21,500; PB Fintech climbs 6%, L&T slides 5%; Tata Motors, NTPC, Reliance are some of the other top gainers in the morning trade.

Walmart said on Tuesday it will carry out a stock split of its outstanding shares at a ratio of 3:1, as part of its ongoing review of optimal trading and spread levels.

ET Now spoke to various experts, and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on Godrej Consumer and Trent while Nooresh Merani has a buy/sell recommendation on Dr Reddy's Labs and Concor for today's trading session. Check out the targets and stoploss.

Shares linked to rural spending and state-owned firms are likely to be a focus area in Finance Minister Nirmala Sitharaman’s budget speech on Thursday, as policymakers seek ways to boost demand in the vast rural hinterland. Modi has made infrastructure building a cornerstone of his economic policy, helping India expand faster than any other major economy.

The tech-heavy Nasdaq lost ground on Tuesday as the market awaited a spate of high profile corporate earnings and the Federal Reserve convened for its monetary policy meeting.

Microsoft beat market estimates for quarterly profit and revenue on Tuesday, as new artificial-intelligence features helped attract customers to its Azure cloud service as they built out their own AI services.

Chinese markets wobbled after an official factory survey showed China's manufacturing activity in January contracted for a fourth straight month.

Stocks that were in focus included names like Bajaj Finance, which fell 5.10%, Tata Investment, which jumped 20%, and KFin Technologies, whose shares increased 7.64% on Tuesday.

The Federal Open Market Committee is poised to keep rates in a range of 5.25% to 5.5% at its two-day policy meeting ending Wednesday, a 22-year high first reached in July. The rate decision and accompanying statement will be released at 2 p.m. in Washington. Chair Jerome Powell will hold a press conference 30 minutes later.

“We have been a steady uptrend in auto and related counters and Samvardhana Motherson is trading in tandem with the trend. Traders can buy the stock for a target of Rs 134 in the next 1-2 months,” Ajit Mishra, SVP - Technical Research, Religare Broking Ltd, said.

The flagship company of the Aditya Birla group had set the price for the rights issue at Rs 1,812 per share, with shareholders entitled to six rights equity shares for every 179 that they held in the company as on January 10.

Sinnar Thermal Power (STPL) is a subsidiary of the listed company RattanIndia Power, one of the largest distressed power producers, which has a 1,350 MW power plant at Nashik in Maharashtra.

Lenders had initiated SARFAESI proceedings to recover their dues totalling ₹571 crore from the company but they received no bids until the end of the auction deadline on Monday at a reserve price of ₹500 crore.

The average analyst price target on Bajaj Finance available on Bloomberg after the third quarter results stood at ₹8,721.69, implying an upside of 27.9% over Tuesday's closing.

PB Fintech reported strong numbers for the quarter ended December, with the company posting a consolidated net profit of Rs 38 crore, against a loss year ago.

State Bank of India (SBI) is reportedly in advanced discussions to downsell half of its approximately ₹11,000-crore loan exposure to the Adani Group's Ganga Expressway project. SBI is engaging with institutions like the National Bank for Financing Infrastructure and Development (NaBFID), Punjab National Bank (PNB), and power finance companies for the downselling. The move follows the standard practice in infrastructure financing, allowing banks to diversify risk by selling portions of large loan exposures. At least four lenders have shown interest in acquiring the debt from SBI.

Analysts said traders are bracing for sharp swings around the budget announcement for FY25, the government's final one before the national elections this year. "We have seen a negative market trend on average in the past budgets since 2012, and today's decline too was just due to profit booking," said Apurva Sheth, head of research at Samco Securities.

Prabhudas Lilladher's Singh said that Tata Motors has also been leaders in the domestic electric vehicle segment, gaining significant local market share. By contrast, Maruti Suzuki has been facing headwinds due to its presence mainly in the lower-cost passenger vehicles. However, the brokerage has a 'Buy' rating on both stocks.

The stock witnessed strong momentum in the last quarter when it bottomed out above 80 levels in November 2023. Promoters have increased their holding sequentially from 64.77% to 64.78% in the December quarter. Mutual funds, too, have hiked their holding from 11.95% to 12.22% in the same period, Trendlyne data showed.

Long unwinding refers to the selling of positions or stocks owned for a longer period either to book profit or to exit it in anticipation of impending bearishness. In Tuesday's trading session, five stocks witnessed a top-long unwinding. Here's the list:

After the Labor Department's report showed U.S. job openings unexpectedly rose in December among other things, the focus will now be on the U.S. Federal Reserve's two-day policy meeting during the day. Investors are awaiting the policy decision from the Fed, which is widely expected to leave the key benchmark rate unchanged at 5.25% to 5.50%, and clues on when it could commence rate cuts.

The flagship company of the Aditya Birla group had set the price for the rights issue at Rs 1,812 per share, with shareholders entitled to six rights equity shares for every 179 that they held in the company as on January 10.

Rating agency Crisil which had organised the webinar said it expects assets under management (AUM) growth in the sector to moderate to 5% to 6% in fiscal ending March 2025 from 17% in March 2023, which was largely because unlike last fiscal there is no large transfer from a bank (Yes Bank) to an ARC (JC Flowers).

Benchmark equity indices declined on Tuesday, a day after recording sharp gains, with the BSE Sensex falling over 1% due to selling in Reliance Industries, ITC and Bajaj Finance. The 30-share BSE Sensex fell by 802 points or 1.11% to settle at 71,139.90. During the day, it plummeted 865.85 points or 1.20% to 71,075.72. The Nifty declined 215.50 points or 0.99 per cent to 21,522.10.Among the Sensex firms, Bajaj Finance fell by 5.03% after its December quarter earnings failed to cheer investors."The near-term uptrend remains intact and we expect present weakness to be a buy-on-dips opportunity. The market could be waiting for a clear direction ahead of key economic event of Union Budget 2024 on 1st Feb. Immediate support is placed at 21,420 levels," said Nagaraj Shetti, HDFC Securities.Here are 4 stock recommendations for Wednesday:

The Dow Jones Industrial Average fell 35.22 points, or 0.09%, at the open to 38,298.23.

Stocks that were in focus include names like Tata Investment Corporation which was up 20%, Oil India rose nearly 4% to hit a fresh record high and BEML closed with gains of more than 10% to hit a fresh high.

A bulk of the deals were concluded in the second half of the year and the largest exit route was through public market sales which includes exits at the time of listing as well as post IPO sales by the PE according to Arun Natrajan, founder of Venture Intelligence

Domestic brokerage firm Motilal Oswal listed potential stocks with a ‘buy’ rating and an upside potential of up to 24%. Here’s the list:

OI data showed that on the call side, the highest OI was observed at 21,700 followed by 22,000 strike prices while on the put side, the highest OI was at 21,500 strike price.