India's forex reserves dropped by $17.761 billion to $657.892 billion for the week ended November 15, the RBI said on Friday.In the previous reporting week ended November 8, the overall reserves dropped by $6.477 billion to $675.653 billion. The kitty, which had hit an all-time high of $704.885 billion in end-September, has been declining for multiple weeks now.
Open FlipCardano's native cryptocurrency ada (ADA) has surged 10% in the past 24 hours, trading at 90 cents early Friday on Coinbase and other exchanges. That's the highest price since May 2022, according to CoinDesk Indices data. The price has risen 22% this week, taking the month-to-date gain to 152%. That has raised the token's m-cap to $30.85 billion, making it the world's 10th-largest digital asset.
Open FlipBitcoin’s monthly all-time high comes over two weeks after Donald Trump won the 2024 US presidential election held on Nov. 5. Increasingly more analysts expect Bitcoin to breach the $100,000 mark. On Nov. 22, stablecoin flows to crypto exchanges reached a record monthly high of over $9.7 billion, flashing another optimistic signal for Bitcoin’s price trajectory leading up to 2025.
Open FlipThe U.K.'s long awaited crypto rules are coming. The U.K. plans to draft a regulatory framework for the crypto industry by early next year, Economic Secretary Tulip Siddiq said at a conference. The rules will apply to stablecoins and staking services and will end months of uncertainty for the industry. The announcement follows months of uncertainty about the government's plans for the industry.
Open FlipDogecoin is a novelty cryptocurrency that uses a Shiba Inu dog as its mascot. Dogecoin surged 324% this year, outperforming Bitcoin's 107% return, following Donald Trump's presidential election win, with Elon Musk's support. However, with little utility and no institutional investor support, Bitcoin remains a better long-term buy due to its potential as a store of value and growing adoption.
Open FlipDespite millions of selling pressure, Ether is staging a breakout to above $3,700 due to an emerging bull flag, according to market analysts. Some of the most popular industry analysts believe the Ether (ETH) market price is poised for a price breakout. Despite the selling pressure, Ether’s price rose by over 7.5% during the past week.
Open FlipRetail investors' primary market subscriptions on the RBI retail direct platform surged 78.38% year-over-year in November, reaching Rs 5,624.85 crore, driven mainly by treasury bills, which accounted for Rs 3,888.36 crore. Retail investors prefer shorter-term debt instruments due to narrow spreads between long-term and short-term securities.
Open FlipRE firm Jyoti Structures Ltd on Friday (November 22) announced a fundraising of up to ₹500 crore through a rights issue of equity shares, as approved by its board of directors. Last month, Jyoti Structures said it received a letter of acceptance for an order worth ₹450 crore from Adani Energy Solutions in Gujarat. Shares of Jyoti Structures Ltd ended at ₹29.03, down by ₹0.14, or 0.48%, on BSE.
Open FlipIndia’s July-September quarter (Q2FY25) gross domestic product (GDP) prints are expected to show moderation due to excess rainfall, weak corporate earnings and subdued rural and urban consumption. The Q2 GDP numbers will be out on Friday, November 29. ndia's Q2FY25 GDP growth is expected at 6.4%, down from 6.8%, amid weak corporate earnings and consumption.
Open FlipJapanese retail investors have pulled back from Indian funds for the first time in six years, contributing to the largest outflows from Indian markets since March 2022, according to Elara Capital. This shift, compounded by record-breaking inflows into U.S. funds, signals a cooling of foreign investor sentiment towards India.
Open FlipIndian markets staged a sharp rebound on Friday, November 22, fueled by value buying at lower levels and a rally in blue-chip stocks. Nifty Realty index gained 3.17%—its biggest single-day increase in the last six months. Nine out of the ten constituents of the index closed in the positive, with Raymond leading the way, surging nearly 16%.
Open FlipShares of Godrej Properties surged nearly 5 percent after Bank of America (BofA) upgraded the stock to a 'Buy' rating from 'Neutral' and raised its target price to Rs 3,600 from Rs 3,500, citing an attractive risk-reward profile following the recent correction. At 1 PM, Godrej Properties was trading 4.5 percent higher at Rs 2,828. The stock has gained over 40 percent year-to-date.
Open FlipReported Standalone quarterly numbers for E-Land Apparel are: Net Sales at Rs 44.39 crore in September 2024 up 19.82% from Rs. 37.05 crore in September 2023. Quarterly Net Loss at Rs. 0.33 crore in September 2024 up 96.89% from Rs. 10.65 crore in September 2023. EBITDA stands at Rs. 2.27 crore in September 2024 down 28.16% from Rs. 3.16 crore in September 2023.
Open FlipReported Standalone quarterly numbers for Superhouse are: Net Sales at Rs 137.86 crore in September 2024 down 5.37% from Rs. 145.68 crore in September 2023. Quarterly Net Profit at Rs. 2.18 crore in September 2024 up 10.7% from Rs. 1.97 crore in September 2023. EBITDA stands at Rs. 10.46 crore in September 2024 up 8.96% from Rs. 9.60 crore in September 2023.
Open FlipReported Standalone quarterly numbers for SEL Manufacturing Company are: Net Sales at Rs 4.89 crore in September 2024 down 94.92% from Rs. 96.12 crore in September 2023. Quarterly Net Loss at Rs. 43.08 crore in September 2024 up 30.04% from Rs. 61.58 crore in September 2023. EBITDA stands negative at Rs. 2.02 crore in September 2024 up 90.29% from Rs. 20.81 crore in September 2023.
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