Broader market index Sensex is trading at around 5 percent valuation premium based on intrinsic value. However, mid-cap stocks are commanding a reasonable valuation premium over their historical averages while there is a froth in the small and micro-cap segment, reports Client Associates (CA) Annual Equity Assessment 2024.

Reported Consolidated quarterly numbers for LCC Infotech are: Net Sales at Rs 1.15 crore in December 2023 up 19125% from Rs. 0.01 crore in December 2022. Quarterly Net Profit at Rs. 0.05 crore in December 2023 up 108.86% from Rs. 0.55 crore in December 2022. EBITDA stands at Rs. 0.07 crore in December 2023 up 113.21% from Rs. 0.53 crore in December 2022.

The PSU run is not a short- or a medium-term move, rather it has more legs to it, said Sandeep Tandon, founder and chief investment officer of psu strock in an interview with CNBC TV18. PSU stocks will see sharp corrections and pullbacks like the recent ones, said Tandon. He said that some of the junk stocks in the PSU basket has rallied significantly and hence it will have a healthy correction.

The Nifty closed 71 points higher on Feb 15, helped by banking gains and global cues. A Doji candlestick formed, indicating uncertainty about future trends. A close above 21,950 could lead to an all-time high of 22,126. Experts see support at 21,800 and 21,500. Bank Nifty also rose for a third day, forming a bullish pattern. Resistance at 46,600-46,800.

A new web-based House Allotment System (HAS) will be introduced in Bhubaneswar to ensure transparency in the allotment of houses to urban poor. Private developers are required to reserve 10% of housing units for EWS under this system, and a standard operation procedure (SOP) has been issued outlining the registration process, fee payments, and roles of developers and authorities.

Tata Group is considering a potential spinoff of its battery business, according to people familiar with the matter, as the Indian conglomerate expands its foray into the country’s renewable energy and electric vehicle sectors. Tata is in the early stage of discussions about eventually breaking out Agratas Energy Storage Solutions Pvt as an independent unit, the people said.

MUMBAI - India government bond prices slumped in trade on Thursday, after the Reserve Bank of India left policy rates unchanged and also retained its stance, but did not offer any timeline on the first rate cut.But traders were left in dismay after RBI Governor Shaktikanta Das retained the stance and said that the central bank remains focussed on its objective to bring down inflation.

IRB Infrastructure, backed by Singapore's GIC, is exploring the overseas bond market to raise $300 million, mainly to refinance the earlier bonds. The company is in talks with Barclays, Deutsche Bank and JP Morgan to give the fundraising mandate. Proceeds will be used to refinance the earlier bond raised in 2021. Back then, IRB had raised $300 million 5.5% senior secured notes.

Promoter group entity Finsider International Co on Thursday sold a 1.8% stake in Vedanta Ltd through the open market for Rs 1,737 crore. The promoter entity sold 6,55,18,600 shares of the mining major at Rs 265.14 a share, bulk deals data showed. On Thursday, shares of Vedanta ended 4% down on the BSE at Rs 268. The sale happened at a discount of more than 5% to the previous close.

Following the overwhelming response to its recently launched funds, Zerodha Fund House has managed to attract 1 lakh investors in just three months. “A heartfelt thanks to all the investors for the trust you have placed in us. Your support towards our goal of making investment products accessible to every Indian fuel our determination,” the fund house said on Linkedin.Z

The Reserve Bank of India (RBI) on February 15 said it will conduct seven-day variable rate repo auction of Rs 75,000 crore. The auction will be held between 10:30 AM and 11:00 AM. The reversal of these funds will take place on February 23. “On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on February 16.

The recent action by the Reserve Bank of India (RBI) against Paytm Payments Bank for non-compliance with norms has made headlines. However, this is not the first time the regulator has taken such strict action on major financial institutions. In the recent past, the RBI has cracked down on major banks, non-banking finance companies, card services providers, and audit firms for non-compliance.

Struggling Swedish real estate group SBB said on Wednesday the nomination committee of its board of directors has proposed Lennart Sten as new chairman of the board. Sten, a real estate sector veteran with former positions including CEO of Fabege, this month took on a role as senior adviser to SBB's board. SBB said in a statement current chairman Lennart Schuss.

Govt has directed GDA to coordinate with NCR Transport Corporation to ensure that the proposed routes for rapid rail from the upcoming airport in Jewar to Ghaziabad don’t fall in the alignment of the Sector 62-Sahibabad metro extension.The direction was made at a meeting chaired by additional chief secretary for housing and urban planning.

Gold prices languished near a two-month trough on Thursday as traders lowered expectations of sooner and deeper rate cuts by the Federal Reserve this year, while markets await a slew of U.S. economic data for further clarity. Spot gold was up 0.3% at $1,997.10 per ounce, as of 1158 GMT, but hovered near its lowest since Dec. 13 hit on Wednesday. U.S. gold futures rose 0.3% to $2,009.20.