Thu, Feb 1, 2024 1:06 PM
Defence stocks mixed as FM makes no big announcements in budget
A Flip by Shubhangi Gupta
If Bitcoin continues to “mature” and governments keep issuing large volumes of fiat currency, its price could soar above $200,000 without any major devaluation of the US Dollar, says Bitwise CIO Matt Hougan. Growing investment in “store-of-value” assets and continued fiat currency devaluation could propel the price of Bitcoin to six figures without the need for the US dollar to collapse.
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Cyient's Q2 results were in line with estimates, with 2% q/q growth and 14.2% EBIT margin, despite a 14.7% y/y decline in total contract value. Management remains optimistic about H2 growth, and the brokerage firm raises its FY25 earnings estimate by 6.6% and upgrades its rating to Buy with a target price of Rs.2,230.
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The shares of Avenue Supermarts-operated DMart hit their all-time high of Rs 5,484.85 in September but have been in a downward trend since then. The stock has experienced a relatively sharper fall and is now trading even below its 200-day exponential moving average (DEMA). It was trying to survive above the same but failed after being pushed down on a disappointing second quarter performance.
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