The domestic indices pared some losses but remained in negative territory with limited losses in afternoon trade. The Nifty traded above the 22,400 level after hitting day's low of 22,329.55 in early afternoon trade. Financial services, bank and auto shares advanced while IT, media and realty stocks declined. At 13:25 IST, the barometer index, the S&P BSE Sensex, dropped 149.86 points or 0.20% to 73,952.46. The Nifty 50 index lost 62.30 points or 0.28% to 22,435.60. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.96% and the S&P BSE Small-Cap index declined 0.47%. The market breadth was weak. On the BSE, 1,407 shares rose and 2,451 shares fell. A total of 139 shares were unchanged. Gainers & Losers: IndusInd Bank (up 5.10%), Tata Motors (up 2.65%), Kotak Mahindra Bank (up 2.40%), HDFC Bank (up 1.92%) and Sun Pharmaceutical Industries (up 1.36%) were the major Nifty50 gainers. Infosys (down 5.52%), Wipro (down 4.79%), Tech Mahindra (down 4.11%), HCL Technologies (down 2.57%) and Nestle India (down 2.16%) were the major Nifty50 losers. Stocks in Spotlight: Bharti Airtel shed 0.70%. The company announced an agreement with SpaceX to bring Starlink's high-speed internet services to its customers in India. This is the first agreement to be signed in India, which is subject to SpaceX receiving its own authorizations to sell Starlink in India. It enables Airtel and SpaceX to further explore how Starlink can complement and expand Airtel's offerings, and how Airtel's expertise in the Indian market complements SpaceX's direct offerings to consumers and businesses. Reliance Industries rose 0.33%. The company said that Jio Platforms (JPL) has entered into an agreement with SpaceX to offer Starlink's broadband internet services to its customers in India. This agreement, which is subject to SpaceX receiving its own authorizations to sell Starlink in India, enables Jio and SpaceX to explore how Starlink can extend Jio's offerings and how Jio can complement SpaceX's direct offerings to consumers and businesses. Ola Electric Mobility (OLA) rose 1%, following the successful completion of its Network Transformation and Opex Reduction Program, a company-wide initiative launched in November 2024. FSN E-Commerce Ventures (Nykaa) declined 2.47%. The company announced that it has incorporated a new wholly owned subsidiary, Nykaa Essentials, with its registered office in Mumbai, Maharashtra. Kaynes Technology India rose 0.26%. The firm said that its managing director (MD), Ramesh Kunhikannan, received show cause notice (SCN) from Securities and Exchange Board of India (SEBI) for violating regulations. Carysil added 1.84% to Rs 514.80 after the company announced that it has entered into an agreement with KARRAN INC., USA, for the supply of Quartz kitchen sinks to fulfill requirements of new major U.S. home retail chain. SEPC surged 17.69% after the company announced the execution of a Framework Agreement with ROSHN Group, a leading real estate developer in Riyadh, Kingdom of Saudi Arabia (KSA). Godrej Agrovet shed 0.47% after the company's board approved the acquisition of the remaining 48.06% stake in Creamline Dairy Products (CDPL) for total consideration of Rs 930 crore Global Markets: US Dow Jones index futures were up 112 points, indicating a positive opening in US stocks today. European shares traded higher as traders awaited earnings from clothing giants Inditex and Puma, and carmaker Porsche. Asian stocks traded mixed on Wednesday after President Donald Trump downplayed recession concerns, helping US markets stage a late recovery following a volatile session. Trump also ruled out any exemptions from steel and aluminum tariffs, despite strong lobbying efforts by Australian Prime Minister Anthony Albanese. In the US on Tuesday, the S&P 500 slipped 0.76%, while the Dow Jones Industrial Average dropped 1.14%. The Nasdaq Composite edged 0.18% lower. Tesla Inc. rebounded 3.7% after a steep 15% drop on Monday, while Delta Air Lines Inc. extended its losses, plunging over 7% after issuing a profit warning. Trade tensions escalated further as Trump unexpectedly raised tariffs on Canadian steel and aluminum imports to 50%, up from 25%, in response to Ontario's new 25% surcharge on electricity exports to the US. However, within hours, Ontario Premier Doug Ford agreed to suspend the surcharge and scheduled talks with US Commerce Secretary Howard Lutnick in Washington. In turn, Trump withdrew the tariff hike, restoring the original 25% rate on Canadian metals. Investors now turn their attention to the upcoming US consumer price inflation report, a key indicator ahead of next week's Federal Reserve interest rate decision.Powered by Capital Market - Live

The notice alleges suspected violations in maintenance of Structured Digital Database (SDD) pertaining to financial results for the period ended March 31, 2023 as per Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. The company said that it is currently reviewing the contents of the notice and will take all appropriate legal and procedural steps, including providing a timely response to the SEBI. Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturer in India, having capabilities across the entire spectrum of Electronics System and Design Manufacturing (ESDM) services. The company reported 47.1% increase in consolidated net profit to Rs 66.46 crore in Q3 FY25 as compared with Rs 45.19 crore in Q3 FY24. Net sales jumped 29.8% YoY to Rs 661.8 crore during the quarter.Powered by Capital Market - Live

The equity benchmark indices continued to trade with minor losses after the Budget for 2025-26 was laid down in the Parliament by the finance minister. The Nifty slipped below the 23,400 level. FMCG, realty and auto shares rallied while oil & gas, banking and metal shares declined. At 13:25 IST, the barometer index, the S&P BSE Sensex, slipped 199.94oints or 0.23% to 77,300. The Nifty 50 index lost 116.80 points or 0.50% to 23,391.60. In the broader market, the S&P BSE Mid-Cap index declined 1.10% and the S&P BSE Small-Cap index shed 0.62%. The market breadth was negative. On the BSE, 1,785 shares rose and 1,992 shares fell. A total of 165 shares were unchanged. Gainers & Losers: Trent (up 5.70%), ITC (up 5.09%), Hindustan Unilever (up 4.81%), Maruti Suzuki India (up 4.57%) and Britannia Industries (up 4.35%) were the major Nifty 50 gainers. SBI Life Insurance (down 7.26%), Bharat Electronics Limited (BEL) (down 7.23%), HDFC Life Insurance Company (down 6.06%), Bharat Petroleum Corporation (BPCL) (down 4.54%) and Shriram Finance (down 4.47%) were the major Nifty 50 losers. Union Budget 2025: Tax Relief, Infrastructure Push, and Focus on Key Sectors Finance Minister Nirmala Sitharaman delivered the Union Budget 2025, outlining a comprehensive vision for India's economic growth and inclusive development. The budget emphasizes key sectors like education, technology, manufacturing, healthcare, access to credit, and agriculture, while prioritizing fiscal responsibility. A major highlight is significant tax relief for the middle class. In a move that will likely resonate with taxpayers, Sitharaman announced that individuals with an income of up to Rs 12 lakh will now be exempt from income tax under the new tax regime. This measure aims to provide substantial financial relief to the middle class. The new tax slabs under this regime are as follows: Rs 4 to 8 lakh at 5%, Rs 8 to 12 lakh at 10%, Rs 12 to 16 lakh at 15%, Rs 16 to 20 lakh at 20%, Rs 20 to 24 lakh at 25%, and Rs 24 lakh and above at 30%. The Finance Minister reiterated the government's commitment to fiscal consolidation, aiming to maintain a downward trajectory for the fiscal deficit and reduce central government debt as a percentage of GDP. The budget projects total receipts for 2024-25 at Rs 31.47 lakh crore and total expenditure at Rs 47.16 lakh crore. The fiscal deficit target for FY25 is set at 4.8%, with a further reduction to 4.4% planned for FY26. A new Income Tax bill, focused on trust-based and streamlined compliance, will be introduced next week. To attract foreign investment, the FDI limit in the insurance sector has been increased from 74% to 100%. Several measures aim to streamline tax processes, including faceless assessments, faster tax returns, and five Vivad Se Vishwas schemes for expedited dispute resolution. Mergers and acquisitions will be facilitated through quicker approvals and expanded regulations, improving the ease of doing business. Technology will be a major focus, with the establishment of three Centers of Excellence for Artificial Intelligence (AI) with a Rs 500 crore outlay, focusing on AI in education. A National Manufacturing Mission will support clean technology production, including domestic manufacturing of electric vehicle (EV) batteries and solar panels. Five new national skilling centers will be established, and existing IITs will expand infrastructure to accommodate 6,500 more students. Atal Tinkering Labs will be introduced in government schools to foster innovation. Infrastructure development receives a boost through the PM Gatishakti initiative, which will provide the private sector with access to crucial data and maps for improved logistics and infrastructure planning. Tourism, a significant employment generator, will be promoted through collaboration with states to develop 22 top tourism destinations. Energy security is prioritized, with a plan to develop 100 gigawatts of nuclear energy by 2047. Basic Customs Duty (BCD) exemption on cobalt powder, lithium-ion battery waste, scrap, and 12 other critical minerals will ensure the availability of these materials for manufacturing. Healthcare will be strengthened by establishing daycare cancer centers in all district hospitals within three years. Medical tourism will be promoted through public-private partnerships and easier visa norms. Access to credit for micro, small enterprises, startups, and exporters will be significantly expanded. The credit guarantee cover for micro and small enterprises will double to Rs 10 crore, unlocking substantial additional credit. Startups will see their cover rise to Rs 20 crore. Exporter MSMEs will be eligible for term loans up to Rs 20 crore, and micro-enterprises on the Udyam portal will receive customized credit cards with a Rs 5 lakh limit. Entrepreneurship will be supported by a New Fund of Funds for Startups, with an additional Rs 10,000 crore, doubling the existing allocation. A Food Processing Institute will be established in Bihar, and a new Manufacturing Mission will support Make in India. A special scheme will offer term loans to 5 lakh women-led businesses. Agriculture receives substantial support through the PM Dhan Dhanya Krishi Yojana, aimed at enhancing productivity in 100 districts. The Developing Agri Districts Programme will improve irrigation and credit access for 1.7 crore farmers. NAFED and NCCF will directly procure pulses from farmers to ensure self-reliance. A Makhana Board will be set up in Bihar, and a National Mission on High-Yielding Seeds will boost farm productivity. Sitharaman emphasized investment as the third engine of growth, highlighting transformative reforms across various sectors. The budget prioritizes GYAN (Garib, Youth, Annadata, and Nari), energy security, economic resilience, and export promotion. Agriculture, MSMEs, and exports are positioned as key drivers of India's economic expansion. The 2025-26 budget aims to build household confidence and empower the middle class. Sitharaman highlighted India's rapid economic growth and growing global confidence in its potential, emphasizing the next five years as crucial for achieving Sabka Vikas (inclusive development). Meanwhile, the Budget session of Parliament commenced on January 31 with President Droupadi Murmu's address and will be conducted in two parts. The first part will run until February 13, while the second will be held from March 10 to April 4. Economy: India's fiscal deficit for the first nine months of the current fiscal year stood at Rs 9.14 lakh crore, or 56.7% on the annual estimates, data released by the Controllerer General of Accounts (CGA) showed on Friday, according to media reports. The fiscal deficit widened from 55% in the comparable year- earlier period. Total receipts for the period stood at Rs 23.18 lakh crore, while overall government expenditure in April to December was at Rs 32.32 lakh crore. The combined index of Eight Core Industries (ICI) increased by 4 percent (provisional) in December 2024 as compared to the index in December 2023. The production of coal, electricity, steel, cement, refinery products, fertilizers, and crude oil recorded positive growth in December 2024. The final growth rate of Index of Eight Core Industries for September 2024 increased by 2.4 percent. The cumulative growth rate of ICI during April to December 2024'25 is 4.2 percent (provisional) as compared to the corresponding period of last year. Stocks in Spotlight: Kaynes Technology India shed 0.79%. the company announced that its deputy chief financial officer, R. Balasubramanian, has resigned, with effect from 30 January 2025, due to personal reasons. Quess Corp climbed 4.17% following the announcement of a share purchase by Fairbridge Capital (Mauritius), a promoter of the company. RailTel Corporation of India slipped 9.01%% after the firm said that it has received the work order from Department of Education Samagra Shiksha for supply and service amounting to Rs 15.98 crore. Oil & Natural Gas Corporation (ONGC) fell 2.61% after the company's standalone net profit fell 16.7% to Rs 8,239.92 crore in Q3 FY25 compared with Rs 9,891.71 crore in Q4 FY24. Revenue from operations declined 3.08% YoY to Rs 33,716.80 crore in Q3 FY25. Hero Motocorp slipped 1.80% after the company announced that Niranjan Gupta has stepped down as the CEO of the company effective 30 April 2025, to pursue other opportunities. Global Markets: The Trump administration announced new tariffs on imports from Mexico, Canada, and China, starting Saturday. These tariffs are partly in response to illegal fentanyl distribution. Potential tariffs include 25% on Mexican and Canadian imports, 10% on Chinese goods, and future tariffs on chips, oil, gas (possibly by February 18th), steel, aluminum, and copper. Trump insists these tariffs are unavoidable and will generate substantial revenue, even hinting at possible European tariffs. He contrasted the US's historical reliance on tariffs with its current dependence on income tax. The news caused US stock market declines. At the close in NYSE, the Dow Jones Industrial Average fell 0.75%, while the S&P 500 index declined 0.5%, and the NASDAQ Composite index declined 0.28%. Apple shares closed lower as the broader market selloff erased earlier gains. The company expects sales growth in the low- to mid-single digits for its fiscal second quarter, easing concerns about flagship handset sales, which slightly missed estimates in the holiday season. CEO Tim Cook remains optimistic, citing Apple Intelligence (AI features) as a driver of future sales. Exxon Mobil stock fell 2.5%, despite exceeding fourth-quarter profit expectations. Higher oil and gas production helped offset lower crude prices and weaker refining margins.Powered by Capital Market - Live

The key equity benchmarks extended gains in mid-morning trade as the Budget for 2025-26 is being currently presented in the Parliament by the Union Finance Minister. The Nifty climbed above the 23,600 mark. Private bank shares extended gains for the fifth straight day. At 11:28 IST, the barometer index, the S&P BSE Sensex, advanced 284.43 points or 0.37% to 77,785. The Nifty 50 index added 94.15 points or 0.40% to 23,602.55. In the broader market, the S&P BSE Mid-Cap index advanced 0.40% and the S&P BSE Small-Cap index added 0.78%. The market breadth was strong. On the BSE, 2,507 shares rose and 1,111 shares fell. A total of 161 shares were unchanged. Union Budget 2025: Finance Minister Nirmala Sitharaman began presenting the Union Budget in Parliament, outlining a plan focused on transformative reforms across six key areas: taxation, the financial sector, power, urban development, mining, and regulatory frameworks. The budget prioritized agriculture as the primary engine of growth, with the introduction of the Developing Agri Districts Programme, modeled after the aspirational districts initiative. This program will promote crop diversification, improve irrigation, and expand credit access for 1.7 crore farmers, while also addressing post-harvest storage issues. Sitharaman announced a special focus on tur, urad, and masur dal in a plan to achieve self-reliance in pulses, with NAFED and NCCF procuring these pulses from farmers as part of the DHAN DHANYA YOJANA. To further support the agricultural sector, a Makhana Board will be set up in Bihar, and a National Mission on High-Yielding Seeds will be launched. The budget emphasizes GYAN ' Garib (poor), Youth, Annadata (farmers), and Nari (women) ' and commits to energy security and export promotion. Sitharaman identified agriculture, MSMEs, and exports as key drivers of economic growth, highlighting India's status as the fastest-growing major economy. The 2025-26 budget builds on the government's commitment to accelerated and inclusive development, aiming to boost household confidence and empower the Indian middle class. Sitharaman emphasized India's rapid economic growth compared to other major economies, citing the country's development record and structural reforms of the past decade. She noted the increased global confidence in India's capabilities and potential, and expressed the government's view of the next five years as a unique opportunity to achieve Sabka Vikas, stimulating balanced growth across all regions. Buzzing Index: The Nifty Private Bank index advanced 0.85% to 24,593.80. The index jumped 4.06% in five consecutive trading sessions. Axis Bank (up 1.51%), IndusInd Bank (up 1.38%), Bandhan Bank (up 0.71%), City Union Bank (up 0.65%) and Kotak Mahindra Bank (up 0.45%), RBL Bank (up 0.33%), ICICI Bank (up 0.26%), HDFC Bank (up 0.16%) advanced. On the other hand, IDFC First Bank (down 1.2%), Federal Bank (down 0.06%), edged lower. Stocks in Spotlight: Kaynes Technology India jumped 3.39%. The company announced that its deputy chief financial officer, R. Balasubramanian, has resigned, with effect from 30 January 2025, due to personal reasons. RailTel Corporation of India rallied 2.53% after the firm said that it has received the work order from Department of Education Samagra Shiksha for supply and service amounting to Rs 15.98 crore. Oil & Natural Gas Corporation (ONGC) fell 0.42% after the company's standalone net profit fell 16.7% to Rs 8,239.92 crore in Q3 FY25 compared with Rs 9,891.71 crore in Q4 FY24. Revenue from operations declined 3.08% YoY to Rs 33,716.80 crore in Q3 FY25. Global Markets: The Trump administration announced new tariffs on imports from Mexico, Canada, and China, starting Saturday. These tariffs are partly in response to illegal fentanyl distribution. Potential tariffs include 25% on Mexican and Canadian imports, 10% on Chinese goods, and future tariffs on chips, oil, gas (possibly by February 18th), steel, aluminum, and copper. Trump insists these tariffs are unavoidable and will generate substantial revenue, even hinting at possible European tariffs. He contrasted the US's historical reliance on tariffs with its current dependence on income tax. The news caused US stock market declines. At the close in NYSE, the Dow Jones Industrial Average fell 0.75%, while the S&P 500 index declined 0.5%, and the NASDAQ Composite index declined 0.28%. Apple shares closed lower as the broader market selloff erased earlier gains. The company expects sales growth in the low- to mid-single digits for its fiscal second quarter, easing concerns about flagship handset sales, which slightly missed estimates in the holiday season. CEO Tim Cook remains optimistic, citing Apple Intelligence (AI features) as a driver of future sales. Exxon Mobil stock fell 2.5%, despite exceeding fourth-quarter profit expectations. Higher oil and gas production helped offset lower crude prices and weaker refining margins. Powered by Capital Market - Live

Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturer in India, having capabilities across the entire spectrum of Electronics System and Design Manufacturing (ESDM) services. It has experience in providing Conceptual Design, Process Engineering, Integrated Manufacturing and Life Cycle Support for major players in the Automotive, Industrial, Aerospace, Outer-space, Strategic electronics, Medical, Railways, Internet of Things ('IoT'), Information Technology ('IT') and other segments. The company also has Service centres in Cochin and Mumbai, catering to Railway, Aerospace, Defence and Industrial Clients. The company reported 86.35% increase in consolidated net profit to Rs 60.21 crore in Q2 FY25 as against Rs 32.31 crore posted in Q2 FY24. Revenue from operations jumped 58.55% YoY to Rs 572.12 crore in the quarter ended 30 September 2024. Shares of Kaynes Technology jumped 3.39% to Rs 4,955.80 on the BSE. Powered by Capital Market - Live

The company reported a strong 47% jump in net profit to Rs 66.5 crore in the December quarter (Q3FY25) from Rs 45.2 crore in the same period last year. A substantial portion of this profit growth can be attributed to a 161% YoY surge in the company's other income to Rs 24.64 crore in Q3FY25. Revenue grew by nearly 30% to Rs 661.2 crore in Q3FY25, up from Rs 509.30 crore in the corresponding quarter of the previous year. EBITDA rose 35% YoY to Rs 94 crore in Q3FY25. EBITDA margin improved to 14.2% in Q3FY25 compared to 13.7% in the same period last year. ' The company's order book surged from Rs 3798 crore in Q3FY24 to Rs 6047.10 crore in Q3FY25. However, the management lowered its revenue guidance for FY25 to Rs 2,800 crore from the earlier target of Rs 3,000 crore. This downward revision was attributed to delays in executing certain orders in the industrial segment worth Rs 100 crore, which are now expected to be completed in the March quarter. The company's net debt stood at Rs 599.6 crore as of December 2024, higher than 244.9 crore as of December 2023. Ramesh Kunhikannan, managing director & promoter, Kaynes Technology India said: We continue to invest in high potential & high margin segments and expect these to help us sustain the growth momentum and make Kaynes, a differentiated player in this segment. We are consistently adding new capabilities, new geographies and looking to expand our customer base, with specific focus on large customers and high growth segments. Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturer in India, having capabilities across the entire spectrum of Electronics System and Design Manufacturing (ESDM) services. It has experience in providing Conceptual Design, Process Engineering, Integrated Manufacturing and Life Cycle Support for major players in the Automotive, Industrial, Aerospace, Outer-space, Strategic electronics, Medical, Railways, Internet of Things ('IoT'), Information Technology ('IT') and other segments. The company also has Service centres in Cochin and Mumbai, catering to Railway, Aerospace, Defence and Industrial Clients. Powered by Capital Market - Live

Net profit of Kaynes Technology India rose 47.07% to Rs 66.46 crore in the quarter ended December 2024 as against Rs 45.19 crore during the previous quarter ended December 2023. Sales rose 29.82% to Rs 661.18 crore in the quarter ended December 2024 as against Rs 509.29 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales661.18509.29 30 OPM %14.2213.72 - PBDT91.6964.45 42 PBT80.8558.49 38 NP66.4645.19 47 Powered by Capital Market - Live

Kaynes Tech. India announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 14 February 2025.Powered by Capital Market - Live

The Board of Kaynes Technology India at its meeting held on 22 January 2025 has approved raising of funds for an amount not exceeding Rs 1600 crore. Powered by Capital Market - Live

Kaynes Tech. India will hold a meeting of the Board of Directors of the Company on 27 January 2025.Powered by Capital Market - Live