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Benchmark indices have performed well in election years going by four decades of history and despite spikes in volatility, the median returns in election years have been 17%. As per ICICI Direct, the outperformance of PSU banks will only amplify and investors should also raise their exposure to IT stocks ignoring the noise.

Short-covering signals a shift in view on security from extreme bearishness to bullishness.

Amarjyoti Barua, a strong finance leader with international experience, joins Mahindra Group as CFO. He will continue the capital allocation strategies implemented by outgoing CFO Manoj Bhat and drive exponential growth. Bhat has been made CEO of Mahindra Holidays which Mahindra Group aims to make a key player in the tourism industry and grow its resorts at least 3X. The budget presented by the government focuses on long-term economic growth. The private sector is expected to step up its capex as the government reduces its commitment.

Consolidated revenue from operations rose 20.3% YoY to Rs 2,194 crore. The numbers were better than expected, as most analysts had estimated a loss for the logistics solutions provider.

Explore the top 10 cryptocurrencies for February 2024. Get insights on promising investments for your crypto portfolio.

The Nifty Auto index closed 0.27 per cent up at 19380.5.

Indian government bond yields plummeted this week, with the benchmark yield posting its biggest drop in 15 months, as investors cheered a fiscally-prudent federal budget and as U.S. Treasury yields nosedived.

Bharti Airtel on Friday said it will allot 38.6 lakh equity shares to certain FCCB holders at a conversion price of Rs 518 per equity share. This follows receipt of notice for conversion of FCCBs (Foreign Currency Convertible Bonds) of principal value of USD 27,795,000 from the FCCBs holders.

PMS analyzed 335 PMS investment approaches and 388 regular mutual funds across 1, 3, 5, and 10-year periods and found that PMS investment approaches outperformed their benchmarks by an impressive 70% on average across all timeframes and categories, while MFs managed a respectable 48%.