The PAT for the quarter came in at Rs. 1.12 crore, yoy decline of 70.4 per cent. This was due to jump in interest expenses by 236.8 per cent yoy. Also, sharp decline in other income from Rs. 3.66 crore to Rs. 0.24 crore contributed to the decline in bottomline.

HEG standalone revenue for the quarter came in at Rs. 842.71 crore, registering 235.4 per cent yoy increase. 

IIFL Holdings on Wednesday announced to reorganize the company's corporate structure. The reorganization will result in three listed entities, one each for its Loans and Mortgages; Wealth and Asset Management; and Capital Markets businesses.

The government proposed 100 per cent deduction on revenue from Farmer Producer Companies, in the Union budget 2018. While deductions under section 80JJAA is extended to footwear industry, earlier, the criteria of a minimum period of 150 days employment was available only to the apparel industry.

In its initial reaction equity market has given a thumb down to budget as Nifty and Sensex eroded early gain post the announcement of Long-Term Tax Gain (LTCG) of 10 per cent on gain over Rs. 1,00,000 without indexation benefit. 

Following stocks are close to their 52-week low as at 12.55 p.m. on February 1.

Finance Minister, Arun Jaitley in his Budget speech announced that government is planning to allocate Rs. 7,140 crore for textiles sector in 2018-19.

The markets on February 1 opened up. BSE Sensex is trading at 35,721.55, down by 243.47 points and the Nifty is trading at 10,883.30, down by 144.40 points.

Our honorable FM has showed his focus in #budget2018 to improve the education sector with an aim to invest Rs 1 lakh crore for education sector in four years in order to emerge as the fastest growing nation over the next decade Indian youth should be kept into the focus.