At 22% of overall spending, capital expenditures would be at record high and aid achieving over 6% GDP growth next year

The European Central Bank raised interest rates again Thursday and signalled it would "stay the course" with an identical hike next month, even as the outlook in the eurozone brightens. The ECB lifted its key rates half a percentage point, as widely expected, seeking to curb soaring prices of energy and food fuelled by Russia's invasion of Ukraine.

Since Jan 25, Adani Enterprises’ share value has more than halved, and Adani Ports has shed more than 39%. Today, Adani Enterprises shares ended 27% lower in the cash market at Rs 1,565.25, and those of Adani Ports settled 7% down at Rs 462.45

The Nasdaq Composite gained 248.83 points, or 2.11%, to 12,065.15 at the opening bell

Adani said the decision to withdraw the FPO will not have any impact on the group's existing operations and future plans. "We will continue to focus on timely execution and delivery of projects."

In another ruling passed on November 2, 2018, the regulator had restrained Ramalinga Raju, Rama Raju, B Suryanarayana Raju and SRSR Holdings from the securities markets for 14 years. Also, they were asked to disgorge Rs 813 crore of unlawful gains with interest.

Companies say green shoots of rural revival visible

The company is scheduled to announce its earnings for the December quarter on Friday. The sustenance of the current momentum in the stock will hinge upon the earnings scorecard and guidance on price hikes after the tax hike.Markets/Stocks/News

Finance Minister Nirmala Sitharaman in her Budget speech on Wednesday recognised "offshore derivative instruments (ODIs) as valid contracts" in order to enhance business activities in the Gujarat International Finance Tec-City (GIFT City).

Companies say green shoots of rural revival visible in December

Prices on the daily chart are continuously showing an effort to close above their 200-EMA placed at 17,550 levels. From the past five days, Nifty is hovering within the range of 17,900–17,400 levels. Any breakout or breakdown above or below the mentioned levels will trigger the next directional move in the benchmark index

Seven of the UK central bank’s nine-member Monetary Policy Committee endorsed the hike to 4%, while two voted for no change. The majority said strong pay growth and an ongoing shortage of workers were feeding price pressures in the economy.

SBI to come out with its Q3FY23 numbers. Net Interest Income expected to be Rs 38,000 cr, uptick of 24% YoY; PAT to be Rs 13,500 cr, a solid performance; NPAs expected to be flat. ET NOW's Hersh Sayta explains the numbers.

The state-owned lender's net profit is likely to zoom by a massive 60-70%, compared with the last-year period, while net interest income (NII) too, is expected to grow in healthy double digits.

Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) are set up as Business Trusts and hold and operate revenue-generating real estate or infrastructure assets, respectively. REITs and InvITs raise funds by issuing units to the public at large.

SBI to come out with its Q3FY23 numbers. Net Interest Income expected to be Rs 38,000 cr, uptick of 24% YoY; PAT to be Rs 13,500 cr, a solid performance; NPAs expected to be flat. ET NOW's Hersh Sayta explains the numbers.

Homegrown FMCG major Dabur India Ltd on Thursday reported a decline of 5.51 per cent in its consolidated net profit to Rs 476.55 crore for the third quarter ended December 2022. The company had posted a net profit of Rs 504.35 crore in the October-December quarter a year ago, Dabur India said in a regulatory filing. ET NOW's Vinnii Motiwala breaks down the numbers for us. Listen in

The company's EBITDA (earnings before interest, tax, depreciation and amortisation) stood at Rs 290 crore, while margins declined 457 basis points to 22%. The performance during the quarter was mainly impacted due to high inflation.

Sensex ends 224 pts higher in seesaw trade; Nifty holds 16,600; Adani Enterprises plunges 27%, ITC rallies 5%; Welspun India, Jindal Saw, Strides Pharma Science are some of the top gainers in closing trade.

From the Sensex pack, ITC, and IndusInd Bank were the top gainers, rising about 3.5-5%. HUL, Infosys, Wipro, HCL Tech, TCS, ICICI Bank, and Kotak Bank also closed with gains. However, HDFC, NTPC, Bajaj Finance, Power Grid, and Tata Steel ended with cuts.

The gross purchase of the local funds remained more than Rs one lakh crore in January for the second month in row. The net inflow was Rs 17,958 crore in the month. This partially offset rising redemption pressure from foreign funds as they sold equities worth Rs 28,852 crore, the highest in seven months.

Indian shares were trading at a premium last year and that premium is now at risk as investors realise maybe the underlying fundamentals are not as strong as many thought. Adani may have started a confidence crisis in Indian shares and that could have broader market implications

Shares of life insurance companies fell sharply in trade on Wednesday following the announcements and extended the losses on Thursday. Shares of SBI Life Insurance, Life Insurance Corporation of India (LIC), Max Financial Services, and HDFC Life Insurance Co declined 0.5-6%.

In its revised large-cap model portfolio, the brokerage firm included ABB (150 bps) and increased the weight on Bharti Airtel (80 bps). "ABB used to be in our mid-cap portfolio until six months back and the stock has largely stagnated around the same level over this period, leading to meaningful derating in multiples," the brokerage said.

Since the Jan. 24 Hindenburg report which alleged improper use by the Adani Group of offshore tax havens and stock manipulation and also raised concerns about high debt, the market capitalisation of seven listed Adani Group companies has fallen by half or nearly $100 billion. Its dollar bonds have tumbled

The sale lowered Berkshire's holdings in BYD's issued H-shares to 12.9% on Jan. 27, down from 13.04%, the filing to the Hong Kong Stock Exchange showed on Thursday

The commercial vehicle (CV) segment reported double-digit growth in January, with sales at Eicher and Ashok Leyland rising more than 32% each. Eicher Motors lost the most among stocks during the day, down 2.82%, while Ashok Leyland gained the most by 2.78%.

Adani Group companies extended the selloff to the sixth day after a report by Hindenburg warned of high leverage and fraudulent practices in group companies. Global bankers Citigroup and Credit Suisse stopped accepting securities of Adani companies as collateral for margin loans

Britannia delivered yet another stellar quarter. Traction on sales front continued to be strong, but importantly, the business has now already recouped all the margins that were lost during the recent hyperinflationary phase. We expect the stock to react positively to the result but reckon that the easier part of the stock’s upmove would then be mostly done with

If we look at the data from past 15 Budgets, compiled by Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities, Nifty has bounced back with stellar gains one week after the presentation of the budget whenever the fall in previous week of the budget presentation is more than 1.5%.

“Powell’s comments, along with the robust release of ADP Employment Data, make the markets believe that the committee may remain too dovish regarding how high rates will go and how long they will stay there,” said Heena Naik, research analyst - currency at Angel One.

Hindenburg's report last week alleged an improper use of offshore tax havens and stock manipulation by the Adani group. It also raised concerns about high debt and the valuations of seven listed Adani companies.

For ITC, cigarettes constitute more than 80% of the company’s net profit and about 45% of its topline. Therefore, tinkering in taxes has an impact on the company’s financials.

Second, state governments have been lagging considerably on capex. Third, the revival in private capex remains elusive and given the risks to future demand situations and falling profitability, Indian companies may still be in a wait-and-watch mode.

Hindenburg's report last week alleged an improper use of offshore tax havens and stock manipulation by the Adani group. It also raised concerns about high debt and the valuations of seven listed Adani companies.

"The sharp increase in capital spending in a year of global uncertainty, a credible fiscal consolidation, no change in the capital gains tax regime, and lower-than-expected market borrowings augur well for stocks," Morgan Stanley's Ridham Desai said. Following the Budget, he and his team are overweight on three sectors - financials, discretionary consumption and industrials.

From an auto major which has underperformed due to multiple reasons to a healthcare provider which has outperformed its sectoral counterparts. These companies have shown an improvement in their score at a time when analysts are revisiting their estimate as local and global issues are hitting stock markets and are witnessing a reset. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists down stocks which fulfill the various criteria as specified into the algorithms & filters.

Billionaire Gautam Adani, who is in the middle of a storm following allegations made in the Hindenburg report, today said he had to withdraw Adani Enterprises NSE -28.2 %' Rs 20,000 crore FPO to protect investors from potential losses.

Following allegations made in the Hindenburg report against the Adani-led conglomerate, ACC shares had hit a record low of Rs 1,733.30 last week. Ambuja Cements, on the other hand, has already fallen 41% from its 52-week high.

Hindenburg's report last week alleged an improper use of offshore tax havens and stock manipulation by the Adani group. It also raised concerns about high debt and the valuations of seven listed Adani companies.

The Reserve Bank of India did not immediately respond to a request for comment. The sources were speaking to Reuters and declined to be named because they were not authorised to speak to the media. Shares in Adani group of companies plunged on Thursday after the tycoon Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, citing the need to insulate investors from potential losses.

Sun Pharma is the world’s fourth largest generics/specialty pharma company with 43 manufacturing sites at its disposal addressing segments like specialty products, branded generics, complex generics, pure generics and APIs.

As the stock rout deepened, Adani was forced to withdraw the FPO last night in a surprise announcement. This morning, it was reported that Citi's wealth unit has also decided to cut the loan-to-value ratio for credit against Adani securities to zero.

Recent macro numbers including Core Infra, GST collections, IIP, Inflation etc show that the economy is on the path to accelerated growth. The new savings scheme and enhanced limit of the Senior Citizen savings scheme affords more avenues for savers to invest their monies safely and productively.

Data suggests that from the past four trading sessions prices are taking support near 200 DMA, which is placed at 17,550 levels on the daily scale. For the bulls to regain control Nifty50 must reclaim 18,888 levels, suggest experts.

In the Sensex pack, SBI and ICICI Bank were the top laggards, down 2-3%. Axis Bank, Bajaj Finance, UltraTech Cement, HDFC, HDFC Bank, L&T and NTPC also opened with losses.

Opening Bell: Sensex falls 300 pts, Nifty below 17,500; Adani Enterprises zooms 10%, Max Financial slips 4%.

VIP Industries has announced a dividend of Rs 2 per share. In the past 12 months, the company has declared an equity dividend amounting to Rs 5 per share. At the current share price levels, it results in a dividend yield of 0.73%. The company is engaged in the business of luggage and travel accessories and is one of the largest luggage maker in India.

As the stock rout deepened, Adani was forced to withdraw the FPO last night in a surprise announcement. This morning, it was reported that Citi's wealth unit has also decided to cut the loan-to-value ratio for credit against Adani securities to zero.

The budget day saw the markets swinging sharply with the NIFTY closing the day in the red. The auto sector appears to be improving its momentum.