Hello, I'm using a pic, driver, adc, stepper motor to drive a stepper motor... using a power supply of 24 v and deriving 5 v for all of these using an ic... my query is that should I connect the output of one ic to all the devices or should I connect a different ic for every component? Reply soon... got presentation tomorrow..

I don't understand your questions:

stepper motor to drive a stepper motor Clueless

Deriving 5 V from the 24 V. You should really keep logic, modor and analog circuits separate.

e.g. Motor reguires its own 24 V supply
Logic supply should be separate
Analog supply should be separate

Now all the grounds should be tied to a single place and the system should be bypassed properly.

Deriving the logic supply of the motor with a switching regulator is probably OK.

You do need a very stable analog supply for the A/D converter.

My $.02