Blackstone-owned Aadhar Housing Finance is planning an IPO worth $600 million-650 million at a valuation of $3 billion. This would be its second attempt at a listing after a previous $1 billion plan was cancelled due to market volatility caused by the Russia-Ukraine war. Aadhar offers affordable housing loans and has seen success in the Indian market, with private equity investors.

The IMF has raised its 2024 global growth forecast to 3.1 percent due to unexpected resilience in major economies. Despite this, global growth is expected to stay below historical average due to factors like interest rates and low productivity. The US and China saw significant upgrades to their growth outlook, while challenges remain in Europe.

Glenmark Pharmaceuticals and Ichnos Sciences have joined forces to develop new cancer drugs under the alliance 'Ichnos Glenmark Innovation (IGI)'. They will combine their expertise in small molecules and novel biologics to create cutting-edge therapy solutions for hematological malignancies and solid tumors. The alliance has three molecules targeting multiple myeloma, acute myeloid leukemia.

Larsen & Toubro (L&T) reported a 15% increase in net profit for the December quarter of FY24, driven by improved execution of infrastructure projects and growth in their IT and tech services portfolio. However, the numbers fell short of market expectations, with revenue growing by 19%. Analysts had predicted a 30% rise in profit and 20% growth in revenue due to the company's strong order book.

Sebi has returned the draft IPO papers of Gretex Share Broking, which may delay their proposed IPO. The sale includes a fresh issue of 1.67 crore shares and an OFS of 30.96 lakh shares. Funds raised will be used for working capital and general purposes. Sebi gave no reason for the return on January 25. Gretex is involved in market making and stock broking, among other activities.

The rupee remained stable but volatile, with upcoming economic data and India's interim Union budget influencing its movements. The dollar index was supported by positive economic numbers, while the euro weakened after the ECB president suggested a rate cut may not be imminent. The Japanese yen also faced pressure ahead of the Bank of Japan policy statement.

The February series Nifty futures started with a premium of 150 points and have seen a roll of 81% for the Index and 77% for Bank Nifty. FIIs have decreased their long positions from 70% to 22% for Index futures. Nifty is likely to trade positively with support at 21500, while resistance can be expected at 22300. The VIX for Nifty is currently at 16. FIIs have also reduced their short positions.

Nifty closed bearish due to the Fed meeting and Interim Budget session. Analysts suggest buying on dips as short-term uptrend remains intact. OI data shows high OI on call side at 21,700-22,000 levels and put side at 21,500. Immediate support is placed at 21,420. A decline below 21,500 may lead to correction, while sustained trades above 21,750 could shift balance in favour of bulls.

The IMF has raised India's GDP growth forecast for 2024-25 by 20 basis points to 6.5%, lower than expectations of Indian authorities. The agency also revised its growth forecast for next year to 6.5%. This comes ahead of the interim Budget, where FM Sitharaman is expected to focus on improving finances and growth prospects. The global economic outlook for 2024 looks positive.

India's construction equipment industry reported a 30% increase in sales to 36,055 units in the third quarter of the current fiscal year. Domestic sales accounted for 33,135 units while 2,920 were exported. Material handling and concrete equipment saw the highest growth of 46% and 43%, respectively. ICEMA, the nodal body representing the industry, requested the government to maintain a steady.

NDTV, part of Adani Group, reported a loss in Q3 as companies spent on cricket world cup and not on advertising. Advertising is the biggest source of revenue for broadcasters. NDTV's net loss was 95.5 million rupees, with revenue falling 7%. Expenses rose due to production costs. Competitor TV18 also posted a loss, while Zee's report is expected next month.

Sebi has barred Farm Tech Silo LLP and related entities from collecting money from investors and prohibited them from the securities market. They have also been directed to stop floating any collective investment scheme and collecting money from partners. This is due to Growpital, an agricultural investment platform, offering fixed tax-free profits through investments in the agriculture sector.

The RBI has announced a new liquidity facility of Rs 5,000 crore for standalone primary dealers at a repo rate of 6.50%. This is due to the current deficit of around Rs 2.59 lakh crore in the banking system. The central bank has conducted multiple variable rate repo auctions, with banks showing strong interest but only accepting bids close to the notified amount.

The Lollapalooza Effect is a term used to describe a situation where different psychological factors come together to influence human behavior in a powerful way. It's like a perfect storm of biases and tendencies that create a strong impact on people's actions. Coined by the legendary investor, Charlie Munger.

On Tuesday, the Indian stock market closed with losses ahead of the Interim Budget and the US Fed meeting. The Sensex dropped by more than 8,00 points, but the Nifty50 held on to 21,500 levels. Buying was seen in realty stocks while selling was seen in consumer durables, capital goods, power, and FMCG stocks. Stocks like Tata Investment Corporation, Oil India, and BEML.