PRE-MARKET INDIAN STOCKS NEWS: Indian benchmarks were pressured in a rare-budget session on Sunday following the announcement to raise the Securities Transaction Tax on futures and options trading

Hero MotoCorp (HMCL IS) - Co. January total sales rose 26$ Y/Y to 557k units. (Moneycontrol)

India Budget

India increased infrastructure spending in its annual budget with the capital spending target for the upcoming fiscal year lifted by around 9% to INR 12.2tln, while it proposed to boost manufacturing in strategic sectors including rare earths and semiconductors, as well as proposed a tax holiday up to 2047 for foreign cloud companies making data centre investments in India. Furthermore, it strongly emphasised fiscal restraint and targeted reducing the debt-to-GDP ratio to 50% (+/-1%) from 56% by 2030/2031 and estimates the fiscal deficit will decline to 4.3% from 4.4% of GDP, while it is to raise the Securities Transaction Tax on futures and options trading. (Newswires)