Union Finance Minister Nirmala Sitharaman will present the Union Budget 2023-24 in Parliament today, the last full Budget of the Modi government in its second term.

This year's Budget holds much significance as the country is scheduled to have the next Lok Sabha election in April-May 2024.

Shares of Apar Industries hit a new high of Rs 1,999, as they rallied 18 per cent on the BSE in Wednesday’s intra-day trade, extending its previous day surge after the company reported 210 per cent year-on-year (YoY) jump in consolidated profit after tax to Rs 170 crore in December quarter (Q3FY23), led by strong operational performance.

In past two trading days, the stock has zoomed 42 per cent. It surpassed its previous high of Rs 1,864, touched on January 5, 2023.

Gautam Adani, the richest Indian businessman, slipped out of the top 10 rankings of the world's richest, according to the Bloomberg Billionaires Index. Currently, his net worth stands at $84.4 billion. Bernard Arnault is the richest person on the earth with a net worth of $189 billion.

Arnault is followed by Elon Musk with a net worth of $160 billion and Jeff Bezos with $124 billion. Mukesh Ambani ranks 12th, one spot behind Adani in the list with the net worth of $82.2 billion.

India's solar module manufacturing capacity is expected to reach approximately 95 GW by the end of 2025, according to Mercom Capital.

The solar module manufacturing capacity as of September last year was 39 gigawatt (GW), the research firm said in its latest report.

Joining the mass layoff season, online marketplace OLX Group is slashing 15 per cent of its workforce, or more than 1,500 employees, globally including in India as part of restructuring amid the global meltdown and recession fears.

According to a report in VCCircle, citing sources, it was not clear how many Indian workers will be impacted in OLX layoffs.

Bharti Airtel is looking to raise entry-level tariff in all circles from Rs 99 to Rs 155, a report by Mint said. It has already done so in 18 out of its total 22 circles. It had started raising the tariff on November 21 in Odisha and Haryana.

It was followed by tariff hikes in Karnataka, Bihar, Himachal Pradesh, Andhra Pradesh, the North-East, Rajasthan and Uttar Pradesh (West) on January 24. Later, on December 25, it was hiked in Delhi, Mumbai, Tamil Nadu, Chennai, Uttar Pradesh (East), West Bengal, Punjab, Jammu and Kashmir and Assam.

GAIL (India) Ltd is scouting for long-term gas import deals and hopes to sign one contract shortly to make up for disrupted supplies from a former unit of Russian energy giant Gazprom, its head of finance said on Monday. India's largest gas distributor reported a 93% decline in its December quarter net profit as it transmitted less gas locally due to a reduction in liquefied natural gas (LNG) supply from a deal with Gazprom Marketing and Singapore (GMTS). GAIL is in talks with Abu Dhabi National Oil Co (ADNOC) and many other parties to source gas.

Japanese auto major Suzuki Motor Corporation on Monday said its subsidiary Maruti Suzuki India has crossed 2.5 crore domestic sales milestone earlier this month.

Maruti Suzuki India achieved the sales mark on January 9, 2023.

Suzuki signed a joint venture agreement with Maruti Udyog, the predecessor of Maruti Suzuki in 1982 and rolled out its first car -- Maruti 800 -- in December 1983.

India's Laurus Labs Ltd reported a 32.1% rise in third-quarter profit on Monday, boosted by strong demand in its businesses that make chemicals and other ingredients used in medicines.

The company's consolidated profit rose to 2.03 billion rupees (nearly $25 million) in the three months ended Dec. 31, from 1.54 billion rupees a year earlier.

Dutch consumer electronics and medical equipment maker Philips said Monday it is cutting 6,000 jobs worldwide over the next two years as it revealed a net loss of 1.6 billion euros (USD 1.7 billion) in 2022, down from a net profit of 3.3 billion euros last year.

The job losses come on top of a reduction of 4,000 staff the company announced in October.

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