Markets were down on February 1 after the union government presented the union budget for FY24-25. Sensex was down 106.81 points or 0.15 percent at 71,645.30, and the Nifty was down 28.20 points or 0.13 percent at 21,697.50. About 1,588 shares advanced, 1,929 shares declined and 91 shares remained unchanged.
2/11
Indian Overseas Bank | CMP Rs 52.1 | Shares of Indian Overseas Bank gained 6 percent along with other PSU banks after the government announced lower than expected borrowing program in the budget. The government announced Rs 14.13 lakh crore in the fiscal year starting April 1. A Moneycontrol poll estimated around Rs 15-16 lakh crore for the fiscal year 2024-25, with net borrowing estimated between Rs 11.50-11.75 lakh crore.
3/11
Titagarh Rail Systems | CMP Rs 1,089 | Shares of Titagarh Rail and other wagon stocks fell today despite the Finance Minister's announcement in the budget to convert 40,000 train coaches to Vande Bharat standards. Even though the government announced a capex allocation of Rs 2.55 lakh crore for Railways, which is higher than the previous year’s Rs 2.4 lakh crore, the year-on-year increase was 5 percent as opposed to the market expectation of 10 percent.
4/11
PB Fintech | CMP Rs 991.5 | Shares of PB Fintech fell 1 percent after a block deal where 2.44 crore shares in the company exchanged hands in the exchange. The shares that were traded were 5.4 percent of the equity capital in the company.
Waterbase | CMP Rs 89.3 | Shares of Waterbase and other shrimp feed stocks gained in the trading session after Finance Minister announced five integrated aquaparks in the Interim Budget.
6/11
Paytm | CMP 609 | Shares of Paytm fell 20 percent and got locked in the lower circuit after RBI imposed major restrictions on the company's lending business which also includes a prohibition on accepting fresh deposits and doing credit transactions after February 29.
7/11
Sobha | CMP Rs 1,422 | Shares of Sobha and other real estate companies fell 1 percent despite the government announced increased allocation for PMAY at Rs 80,671 crore from Rs 54,103 crore in the previous budget, up 49 percent on-year.
8/11
BPCL | CMP Rs 509 | Shares of BPCL gained 1 percent after the government announced capital support of Rs 15,000 crore for FY25, as widely expected by market participants. In the last Budget, the finance minister had announced Rs 30,000 crore equity infusion into the oil marketing companies (OMCs), but the allocation was not implemented in FY24.
NTPC | CMP Rs 321.5 | Shares of NTPC gained 1.26 percent after the finance minister Nirmala Sitharaman reiterated her focus on renewable energy in the Interim Budget. Sitharaman said various measures will be taken such as providing viability gap funding for offshore wind energy and installing solar panels to help one crore households get up to 300 units of electricity free every month.
10/11
FACT | CMP Rs 836.5 | Shares of Fertilisers and Chemicals Travancore were down 3 percent after the government reduced the allocation for the fertiliser sector to Rs 1.68 lakh crore from the previous budget allocation of Rs 1.75 lakh crore.
11/11
Container Corporation of India | CMP Rs 918.8 | Shares of Container Corporation surged 3.53 percent after the government set the divestment target of Rs 50,000 crore for FY25 which was higher than brokerages’ estimate between Rs 30,000 crore and Rs 40,000 crore.
