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₹9.58 trillion in 2023, reflecting a 26 percent increase from the previous year, shows data released by Prime Database. The upswing can be attributed to a surge in credit demand propelled by robust economic growth, Pranav Haldea, managing director of Prime Database Group says. Concurrently, the banking system faced liquidity constraints, leading to entities exploring alternative avenues for capital infusion, the release stated.

Market highlights: Sensex sheds 200 pts, Nifty near 22,050 at close; IT, realty down Even though analysts have been warning about uncertainty on interest rate trajectory due to inflation being higher than central banks' targets, the market is already considering the possibility of rate cuts this year. Some analysts suggest that if rate cuts happen, they might not be significant but rather modest. The domestic market spent most of the day in negative territory on Tuesday, but it experienced a brief upswing during the session, propelling the benchmarks to achieve new record highs.

Lupin (at 8% YoY) and Dr Reddy’s (at 6% YoY). “We expect the highest growth rate for Torrent pharma (+16% YoY) due to Curatio acquisition and Cipla (+12% YoY) and lowest for Lupin (+8% YoY) and Dr Reddy’s (+6% YoY). We expect India business to witness some gross margin improvement on benign RM (raw material) costs and seasonality impacts," it added.

VC Funding Winter: After years of record-breaking growth, global venture funding crashed in 2023, hitting a six-year low of $248.4 billion. This represented a staggering 38 per cent decline year-over-year and the lowest level since 2017. Venture capital (VC) funding investment in Indian startups decreased by almost one-third in comparison to the funding received in CY22, which amounted to USD 20.6 billion and constituted 4.8 per cent of the global total, according to CB Insights' global data.

SAW on Tuesday reported an over twofold growth in its third-quarter profit, as demand in the Middle East and North Africa (MENA) region remained steady and its order book grew. The company posted a consolidated profit after tax of 5.32 billion rupees ($64.1 million) for the quarter ended Dec. 31, 2023 from 2.14 billion rupees a year ago. The company, which makes pipes for the energy, transportation and water sectors, said its order book for iron & steel pipes rose to $1.49 billion from $1.32 billion a year ago. «Higher exports, improved volumes and range-bound raw material prices have contributed towards margin improvement,» the company said in a statement. Exports accounted for over 35% of its order book, which analysts said helped offset the effect of falling domestic steel prices, as global prices remained elevated. Its UAE-based unit recorded an order book of $135 million.

Canada’s housing market is nearing a “tipping point” and its recovery will start sooner than many expect, says a new report by one of Canada’s leading real estate companies.

By Tim Reid, Nathan Layne and Gabriella Borter

Inflation in India has seen many twists and turns in the past four years, but the signs of relief are getting stronger. Both retail and wholesale inflation inched up in December 2023—to 5.69% and 0.73%, respectively—but the uptick was mainly on account of base effect. Strip that off, and retail inflation would have slid to 5.2% and wholesale prices would have recorded a 0.6% deflation, back-of-the-envelope calculations show.

Third-party (TP) motor insurance has seen a continued decline in performance, with a notable decrease in a key metric in December. Last month, gross direct premium growth for this segment was just 6% year-on-year, a drop from the 7% increase recorded in the preceding two months, according to data from the General Insurance Council and the Insurance Regulatory and Development Authority of India (Irdai).

Indian stocks are trading near their most expensive levels against battered Chinese peers, underscoring a growing divergence in investor preference between the two emerging market leaders. The MSCI India Index trades at a 157% premium over the China gauge on valuations based on forward earnings estimates, just 3 percentage points short of the record reached in October 2022, according to data compiled by Bloomberg. India — long dubbed the “next China” — has emerged as an investor favorite, aided by solid earnings and a booming consumer market. It’s ascent came on the back of a sluggish Chinese market, where problems ranging from rivalry with the US and deflationary pressures led to a third annual decline in the MSCI China gauge.

Mazagon Dock Shipbuilders surged up to 13 percent in intra-day deals on Tuesday to hit their respective new highs ahead of the 2024 Interim Union Budget. Indian Railway Finance Corporation surged 12.7 percent to its new high of ₹146.69. It has now soared over 476 percent from its 52-week low of ₹25.45, hit on March 28, 2023.

₹250.10 apiece on the BSE. The demerged entity of Reliance Industries, Jio Financial Services Ltd (JFSL) recorded a 56% quarter-on-quarter (QoQ) decline in their net profit for the third quarter of FY24 at ₹293.82 crore from ₹668.18 crore in the September quarter. The company’s revenue in Q3FY24 slumped 32% to ₹413.61 crore from ₹608.04 crore, QoQ.

After the warmest December on record, an extreme cold wave is sweeping through Canada bringing heavy snowfall and strong winds that are forecast to continue this week.

Buy or sell stocks for today: The Indian stock market indices, Sensex and Nifty, extended their record run for the fifth consecutive session on Monday led by a strong rally in IT stocks. The Sensex surged 759.49 points, or 1.05%, to end at 73,327.94, while the Nifty 50 ended 202.90 points, or 0.93%, higher at 22,097.45.

₹10 per equity share to ₹2 per share. The record date to ascertain the eligibility of shareholders for the stock split has been fixed on January 16. In a stock exchange filing, Trishakti Industries Ltd said: “In connection with the Letter submitted dated 30-12-2023, for intimation of Stock Split/Sub Division of Shares.

Jio Financial Services: The company recorded a consolidated profit of ₹293.82 crore for the December quarter, against ₹668.2 crore in the previous quarter. Revenue from operations came in at ₹413.6 crore against ₹608 crore during the previous one as the company had no dividend income in the quarter, against ₹216.85 crore in the previous one. NALCO & Hindustan Copper: Khanij Bidesh India Ltd (KABIL), a joint venture between NALCO, Hindustan Copper, and Mineral Exploration Co.

equity indices surged nearly 1% to new highs on Monday, with the Nifty closing above 22,000 for the first time, as IT stocks continued to propel the markets on better-than-expected third-quarter earnings. The Sensex ended above 73,000 for the first time, extending the recent bullish momentum, though the Volatility Index — a fear gauge — rose 5.2%, indicating some signs of discomfort among traders over the pace of the upmove.

Portfolio Wealth Advisors President and CIO Lee Munson discusses the expected release of big bank earnings, the Fed's rate cuts and shares his market outlook for the year.

₹250 crore in case of a data breach. For the average user, the rules put in place rights to access their information by any entity, withdrawal of consent, and enable mechanisms to correct or erase personal data and mechanisms of redressal in cases of breach. Legal experts pointed out that proposed rules may increase compliance burden, since companies already have to report breaches to the Indian Computer Emergency Response Team (Cert-In), the government agency that coordinates cybersecurity efforts, within six hours.

Wipro Ltd hit 52-week highs, and HCL Technologies Ltd surged to a record high. FPIs net purchased shares worth ₹1,085.72 crore while domestic institutional investors (DIIs) sold shares worth ₹820.69 crore.

Kerala High Court that it has issued an order under the Companies Act for an investigation into the alleged irregularities by the software firm of Veena T, the daughter of Chief Minister Pinarayi Vijayan. Orders have been issued under section 210 (investigation into affairs of company) of the Companies Act and the same will be produced on record by the next date of hearing, it said.