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Market Live Updates: Indices off day’s high; Nifty around 17,700, Sensex up 350 points – Moneycontrol

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VST Tillers January Auto Sales |  Total sales were up 18.1% at 4,306 units versus 3,646 units, YoY.

TTK Prestige Large Trade | 11.27 lakh shares (0.81% equity) worth Rs 86.01 crore change hands at average of Rs 762.9 per share.

TTK Prestige was quoting at Rs 762.70, down Rs 18.35, or 2.35 percent.

Sensex Losers (Intra-day)

Sanjiv Bajaj, President, CII

Big picture – It is a budget that balances growth with fiscal prudence. A number of CII recommendations find their place in the budget from the public capex increase to Rs 10 lakh crore, whether it is rationalizing of personal income taxes of the lower level. We are seeing significant focus in agri productivity and efficiency, actions on the green energy industry and are opportunities there as well. Overall, I would say Budget is very good and at the same time sticking to the fiscal deficit target of 6.4% this year. This is a welcome balance that we are seeing

BSE Power index shed 1 percent dragged by Adani Transmission, Adani Green, Adani Power

Max Financial Large Trade | 12.27 lakh shares (0.35% equity) worth Rs 97.53 crore change hands at average of Rs 795 per share.

Max Financial Services was quoting at Rs 777.80, down Rs 57.75, or 6.91 percent.

Dilip Buildcon has received the letter of acceptance (LOA) for two (2) HAM projects worth Rs 1,373.6 crore from the National Highways Authority of India.

Fall from Day’s High
Company CMP High Low Fall from Day’s High
UltraTechCement 7,202.10 7,239.00

Wipro401.50 403.90

Chirag Mehta, CIO, Quantum AMC

As expected, the budget is heavy on Capex (at Rs 10 lakh crore, increase of 37% from FY23 revised estimates) which is needed to ensure the cyclical recovery continues. Infra (railways Rs 2.4 lakh crore, 50 new airports and clean energy Rs 35,000 crore) along with the Agri push will help the rural economy improve by boosting employment and incomes. 

Allocation to affordable housing of Rs 79,000 crore, increase of 66%, will also help the housing market retain momentum. Incentives for local production in form of lower duties will also be helpful. 

Overall, this budget push on capex will ensure that the private capex greenshoots really sustain, help inclusive growth and make the economy become more resilient in light of the global slowdown. 

Both Equity and Bond markets have reacted positively to the budget, as the thrust to maintain the cyclical recovery and largely maintain fiscal prudence has helped lift sentiments. 

Mahindra & Mahindra total auto sales for January 2023 at 64,335 vehiclesMahindra & Mahindra announced that its overall auto sales for the month of January 2023 stood at 64,335 vehicles.In the Utility Vehicles segment, Mahindra sold 32,915 vehicles in January 2023, despite disruptions in supply chain of Crash Sensors and Air Bag ECUs due to availability of semiconductors. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 33,040 vehicles in January 2023.Exports for the month were at 3,009 vehicles. In the Commercial Vehicles segment, Mahindra sold 21,724 vehicles in January 2023.

Insurance stocks under pressure

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