ICICI Bank surges 6% amid stellar Q3 earning; PAT, interest income records double-digit growth

ICICI Bank's Net interest income (NII) increased by 16% year-on-year to Rs9,912cr in the quarter under review from Rs8,545cr in Q3FY20.

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DLF Q3 net profit rises 9% yoy to Rs452cr as residential biz demand improves; stock gains 1.5%

The companys revenue stood at Rs1,668cr, New Sales bookings for the quarter rose to Rs1,022cr, reflecting a 40% growth yoy.

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ADF Foods reports 34% yoy growth in income to Rs99.5cr during Q3

Reported Net Profit after Tax of Rs13.9cr for Q3FY21, as compared to Rs11cr in the corresponding quarter of last year.

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IndusInd Bank soars over 7% on sequential growth in Q3 PAT to Rs830cr

NII for Q3FY21 at Rs3,406cr was higher by 11% yoy earned during the quarter ended December 31, 2019 at Rs3,074cr. NIM for Q3FY21 was at 4.12%.

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Budget 2021: Markets rally in opening bell; Sensex tops 380 pts; Bank outperforms; IndusInd, ICICI Bank leads

Ahead of the Budget 2021, benchmarks Sensex and Nifty 50 gaining nearly 1% each led by broad-based buying.

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L&T Finance Holdings Rs2,998.61cr Rights Issue opens today; stock trades flat

The company will issue up to 46,13,25,021 equity shares for cash, at a price of Rs65 per Equity Share (including a premium of Rs55 per equity share) on a rights basis. The Issue will close on February 15.

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Budget 2021: From 'bahi-khata' to 'Swadeshi' tablet, Sitharaman goes digital this year

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Today, a report that's more important than the Budget

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Budget 2021 presentation today: Where to watch

The "Union Budget Mobile App" will provide hassle-free access of Budget documents to MPs and general public. The App will facilitate complete access to 14 Union Budget documents, including the Annual Financial Statement (commonly known as Budget), Demand for Grants (DG), and Finance Bill as prescribed by the Constitution.

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Union Budget 2021 Highlights: Can Sitharaman mark the turning point in India's recovery?

The FM’s third Budget tackles the considerable wishlist of industries and consumers that were impaired by the Covid-19 pandemic, while acknowledging the spending challenges of the administration.

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In a first, Tata to build military aircraft in India as it acquires IP rights

The high-altitude, twin-engine aircraft, capable of playing multiple roles from signal intelligence to cross-border surveillance, is currently in the final stages of testing in Germany. It is likely to arrive in India in the next three months for further integration.

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Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

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SGX Nifty indicates positive opening for Indian markets

For today, expect higher volatility with an upward bias as markets much lighter after an 1100 point correction from the top.

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Top stocks in focus: ICICI Bank, Tata Motors, Tata Power, Cipla, Tech Mahindra, MOIL

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

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Brookfield India Real Estate Trust to open IPO on February 03, 2021 and close on February 05, 2021

The Price Band for the Issue is from Rs. 274 to Rs. 275 per unit.

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FM Sitharaman to present Union Budget 2021 today

All eyes are fixed on Finance Minister Nirmala Sitharaman as she is set to present Union Budget 2021-22 in Parliament on Monday, at a time when India is recovering from the Covid-19 crisis.

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Commodity Mantra Morning Update: Commodities remain volatile

Here is our technical view on Commodities.

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Budget 2021: Govt may spend big to push growth

It has been billed as a Budget like never before, triggering expectations that the government will open the purse strings to nurse the Covid-hit economy back onto a robust growth trajectory with a massive fiscal push.

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Budget 2021: Govt may spend big to push growth

It has been billed as a Budget like never before, triggering expectations that the government will open the purse strings to nurse the Covid-hit economy back onto a robust growth trajectory with a massive fiscal push.

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India's budget aiming to revive economy despite limited fiscal headroom

The government is likely to hike import duties on a number of high-end goods in a bid to raise more than 210 billion rupees in revenue, government sources earlier told Reuters.

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Fingers crossed: Dalal Street on the edge

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Five key numbers to watch out for in Niramala Sitharaman's Budget spending plan

While the success of the budget depends on how effectively India is able to contain rising infections through vaccine drives in the nation of more than 1.3 billion people, here are five key numbers to watch out for in the spending plan:

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Budget likely to increase food subsidy allocation by 4%-6%: Sources

For the 2021/22 fiscal year, India's total outlay toward the food subsidy is expected to cross Rs 2.1 lakh crore ($28.7 billion), but the budgeted allocation is likely to go up by only 4 per cent-6 per cent from Rs 1.16 lakh crore earmarked in the previous year.

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GST fraud of Rs 940 cr busted, 340 bogus firms under lens

With the arrest of six persons, including the kingpin, Delhi Police's Cyber Crime Unit (CyPAD) has busted a GST refund scam involving fake business transactions worth Rs 940 crore.

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Budget FY22: Can FM rejuvenate the Indian economy? Here are some possibilities

Will she be able to provide the spark that can turn the recovering economy into an engine of growth? ET looks at the possibilities.

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Consumers pay Rs 25k cr as power not in GST regime

Petrol and diesel are not the only sources of energy for which consumers are paying through their nose because of high taxes and different tax regimes on input and final products.

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Legislative agenda on budget day: Cryptocurrency, infrastructure, investment

Government to set up new DFI for infrastructure financing. Cryptocurrency and Regulation of Official Digital Currency Bill is also on the agenda.

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View: It’s important to get real about what Budget can — and cannot — do

For starters, remember the budget is really a statement of GoI’s receipts and expenditure for the current year, and an estimate of receipts and expenditure for the next fiscal. It is not a magic wand that can dramatically set all our economic ills right. Two, it is the budget of the Union government.

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GST mop-up at record high of Rs 1.2L cr in Jan

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GST collections for Jan 2021 touch all-time high of Rs 1.2 lakh crore

"The GST revenues during January 2021 are the highest since the introduction of GST and have almost touched the ₹ 1.2 lakh crore mark, exceeding last month’s record collection of ₹1.15 lakh crore," the ministry said.

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IRCTC to resume e-catering services at 62 stations from Monday

"IRCTC is going to resume e-catering services at 62 stations in the first phase from February 1, the second phase of resumption will take place most probably after three weeks," an IRCTC official told ANI. New Delhi, Bhopal, Ahmedabad, Howrah, Surat, Vijayawada, Patna, Ujjain, Panvel are amongst major stations where e-catering services will be resumed in the initial leg.

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Sitharaman's 'Economic Vaccine' coming on Monday; will Budget 2021-22 go beyond 'bahi-khata'?

As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.

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Budget 2021: Rural poor, farmers' progress to be govt's priority

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RBI likely to maintain status quo on interest rate, say experts

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Why Budget 2021 should make space for technology & robotics adoption

According to a recent study, the total number of jobs related to developing and deploying new technologies, like automation, AI and robotics-related applications, may grow to 20 to 50 million globally by 2030 and more than 375 million workers globally.

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Rural demand seen ebbing in 2021-22, but urban consumption to rise: Report

The report said the boost to rural demand by a bumper autumn kharif harvest is largely offset by weakening pricing power. Accordingly the report, estimates farm income growth will slow to 7.4 per cent during the kharif harvest from 10.6 per cent last year, while summer rabi income will grow by 10.4 per cent in 2021, from 8.7 per cent last year.

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Government mops up Rs 19,499 crore from CPSE disinvestment, buyback so far in FY21

FM Nirmala Sitharaman had in her budget for 2020-21 set a target of raising Rs 2.1 lakh crore from privatisation, sale of minority stakes in state-owned companies and share buyback by CPSEs. While Rs 1.20 lakh crore was to come from stake sale in CPSEs, Rs 90,000 crore was to be mopped up from share sale in financial institutions.

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Budget Bites: Quirky and unconventional aspects of the Union Budget

Budget Bites: Quirky and unconventional aspects of the Union Budget

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Fun facts about Union Budget

Fun facts about Union Budget

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Petrol prices remain steady ahead of Union Budget day

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Budget: What are tax benefits under Section 80D

Covid-19 pandemic has underscored the importance of health insurance now more than ever. In the initial phase of Covid spread, when capping on hospital charges weren't introduced by the Centre, individuals were left with hefty bills. This highlighted the need for more reforms in the healthcare sector.

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View: Let the RBI simply print the extra money needed, avoiding the risks of a Covid tax in this Budget

Past experience (ask Vodafone or Cairn) means the credibility of Indian politicians is almost zero in tax matters. Covid could continue for years if new strains appear, and so could the proposed tax.

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View: It is time to view government health spending as an investment, not expense

It would be wise for both governments and individuals to consider health as an investment instead. Individual ‘investment’ in self-care and preventive health yields returns by lowering need for, and spending on curative care. Government investment in health has a strong multiplier effect throughout the economy in addition to enhancing the population’s well-being.

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Saving lives came first: Economic Survey establishes how India’s lockdown controlled Covid and will help in a V-shaped recovery

​The response drew on epidemiological and economic research, especially those pertaining to the Spanish Flu, which highlighted that an early, intense lockdown provided a win-win strategy to save lives, and preserve livelihoods via economic recovery in the medium to long term.

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Putting changes in perspective

Covid-related relaxations gave a boost to NPS. Contribution under NPS grew over 30% with assets under management at Rs 4.94 lakh crore as on September 30, 2020, as compared to Rs 3.71 lakh crore a year ago.

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Grindwell Norton Q3 PAT up 39.26% at Rs65.45cr on lower power costs

Grindwell Norton reported 11.61% growth in total revenues for the Dec-20 quarter on consolidated basis at Rs457.65cr

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Great Eastern Shipping Q3 PAT down 46.7% at Rs176.33cr on lower revenues

Great Eastern Shipping reported 9.52% growth in total revenues for the Dec-20 quarter on consolidated basis at Rs1186.78cr

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‘Focus must be on long-term public-health spend, infra’

Covid-19 pandemic has brought healthcare centre stage, highlighting how a health crisis can become a major economic and social challenge, the Economic Survey 2021 said suggesting the need for higher public spending and agile health infrastructure to be able to respond to pandemics.

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Atul Ltd Q3 PAT up 12.18% at Rs190.35cr on higher other income

Atul Ltd reported -8.50% fall in total revenues for the Dec-20 quarter on consolidated basis at Rs952.89cr

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Blue Star Q3 PAT up 82% at Rs35.86 cr on lower materials and project costs

Blue Star reported -9.03% growth in total revenues for the Dec-20 quarter on consolidated basis at Rs1,123.89cr

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Chola Investments Q3 PAT up 5.30% at Rs409.79cr on higher asset impairment

Chola Investments reported 10.11% growth in total revenues for the Dec-20 quarter on consolidated basis at Rs2,520.48cr

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Credit Access Grameen Q3 dips to net loss of Rs79cr on asset impairment

Credit Access Grameen reported 19.51% growth in total revenues for the Dec-20 quarter on consolidated basis at Rs541.54cr

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Dabur Ltd Q3 PAT up 23.72% at Rs493.50cr on better inventory handling

Dabur Ltd reported 15.97% growth in total revenues for the Dec-20 quarter on consolidated basis at Rs2,724.84cr

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DLF Ltd Q3 PAT up 8.7% at Rs449cr on lower operating costs

DLF Ltd reported 14.99% growth in total revenues for the Dec-20 quarter on consolidated basis at Rs1,543.03cr

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Dish TV Q3 PAT turns around to profit of Rs86.41cr on deferred tax benefits

Dish TV reported -6.01% fall in total revenues for the Dec-20 quarter on consolidated basis at Rs815.67cr

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Dr. Lal Pathlabs Q3 PAT up 74.7% at Rs95.9cr on revenue boost

Dr. Lal Pathlabs reported 37.97% growth in total revenues for the Dec-20 quarter on consolidated basis at Rs452.40cr

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Growth Gyaan: Tips on raising women’s participation in workforce, and how digitization may reduce inequalities in education

Besides, non-discriminatory practices at the workplace like pay and career progression are needed to help draw more females to join the labour force. Female labour force participation stood at 26.5% in 2018-19 compared to 80.3% for males.

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Recovery play: Economy will take two years to surpass pre-pandemic levels

​Following a strong 10-12% rebound in FY22, survey looks ahead assuming a 6.5% rise in FY23 and 7% GDP growth in FY24

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India’s economic recovery like cricket team’s performance down under: CEA

India’s V-shaped recovery was like the Indian cricket team’s performance in Australia which bounced from an all-time low score of 36 runs to clinch the four-match Test series 2-1.

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Fiscal push or reforms: What should it be? Fine print holds clues

Importantly, and perhaps more so after the pandemic, it calls for increasing investment in health infrastructure, by boosting public spending from 1% of GDP currently to 2.5-3.0% of GDP, along with the setting up of a sectoral regulator in light of the market failures due to information asymmetry.

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Future Group’s Kishore Biyani calls Amazon 'dog in the manger'

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Staying on track amid a pandemic, says Economic Adviser Rajiv Mishra

The SOE describes the policy dilemma of lives versus livelihoods faced globally at the beginning of the pandemic forcing countries to choose between the two. Deploying the containment strategy India initially chose lives but soon enough livelihoods as well once the system to handle the pandemic was in place to hasten the unlocking of the economy.

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‘Access to bare necessities has improved in all states’

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'Bet on growth to check both poverty & inequality'

India should pay more attention to economic growth as a primary means of decreasing poverty rather than expending more resources on curtailing inequality as redistribution will be better achieved if the size of the pie increases, the economic survey has said.

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‘Smartphone ownership up, could bridge digital divide’

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GM aims to end sale of gasoline cars by 2035

GM sold 2.55 million vehicles in the United States last year, but only about 20,000 were EVs, the Chevy Bolt hatchback. It said in November it was investing $27 billion in electric and autonomous vehicles over the next five years, up from $20 billion planned before the coronavirus pandemic.

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Economic Survey to be tabled today, here's what to expect

Like every year, the survey will make an analysis of the trends in infrastructure, agricultural and industrial production, employment, prices, exports, imports, money supply and forex reserves, apart from all other factors that influence the economy and the budget.

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Economic survey likely to predict 11% economic growth for 2021/22 - source

The Indian economy, which the International Monetary Fund singled out as a global bright spot only a few years ago, is set to contract 7.7% in the current fiscal year to March 31, the deepest contraction in four decades, the economic survey is expected to say.

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Economic Survey 2021 LIVE News: At -7.7%, India could be in for the sharpest fall in 40 years

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Market pulse at 10:15 AM today

Here is the stock market performance at 10:15 AM today.

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Arvind SmartSpaces revenue stands at Rs44.5cr in Q3FY21; reports 138% growth in fresh MIS sales

The consolidated EBITDA for the quarter ended Dec 31, 2020 is Rs14.4cr as against Rs39.1cr for the same period of last year.

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Equitas Small Finance Bank Q3 PAT grows 18% to Rs111cr; advances grew 19% yoy to Rs17,373cr; stock up 1%

Bank said collection efficiency at pre-Covid levels across all major product segments. CASA ratio at 25%, Retail TD at Rs5,500cr growth of 79% yoy.

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Motilal Oswal Finance Q3 PAT doubles to Rs336cr on fair value gains

Motilal Oswal Financial reported 48.01% growth in total revenues for the Dec-20 quarter on consolidated basis at Rs947.62cr

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Markets rally ahead of Budget 2021; Sensex gains so far 550; Bank, auto outperform; IndusInd BanK lead

The Finance Minister Nirmala Sitharaman will present India's budget for 2021 on February 01.

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NXTDIGITAL achieves double digit growth in Q3FY21 revenues and EBIDTA

Overall, the quarterly performance ended on a strong note with a positive Profit after Tax (PAT).

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Blue Dart records PAT of Rs94cr in Q3FY21 led by higher sales; stock gains 3%

The courier company outperforms with sales growth of 21% in Q3FY21.

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RBL Bank soars 6% as Q3 net profit climbs 110% yoy to Rs147cr

The Banks total revenue grew 6% yoy to Rs1,488cr in Q3FY21 from Rs1,410cr in Q3FY20.

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Past failures on spending targets dampen India’s Budget hopes

The government has missed its total spending targets in the past two years, or even scaled them down, and has failed to meet goals for some of its flagship development programs, a review of budget documents show.

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High stakes as India vows to unveil a Budget like no other

Sitharaman’s plan will likely rely on generous public spending to spur activity, putting more money in the hands of the average taxpayer to boost consumption and easing rules to attract investments when she presents the budget at 11 a.m. in New Delhi.

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