Cryptocurrency trading is booming in smaller Indian cities, attracting investors under 35. Meme coins like Dogecoin and SHIB are gaining popularity despite high taxes. Global crypto markets surged after pro-crypto US President Trump's election and appointment of Paul Atkins to the SEC, boosting Bitcoin's market cap to $2 trillion.
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Interest rates for various small savings schemes remain unchanged from January 1 to March 31, 2025. Rates include Sukanya Samriddhi Scheme at 8.2%, PPF at 7.1%, and NSC at 7.7%. This is the fourth consecutive quarter without changes, confirmed by the finance ministry, helping maintain stability for investors.
The US transportation department fined JetBlue Airways $2 million for chronic delays on its east coast routes due to unrealistic scheduling. JetBlue blamed air traffic control issues and called for modernization. The fines partially compensate affected passengers. Routes from New York to Raleigh-Durham, Fort Lauderdale, Orlando, and from Windsor Locks to Fort Lauderdale were notably delayed.
Global central banks continued to bolster their gold reserves in November 2024, adding 53 tonnes collectively. India, the second-largest buyer of the year, increased its reserves to 876 tonnes. Poland led purchases with 21 tonnes. Other notable buyers included Uzbekistan, China, and Turkey. Conversely, Singapore and Finland saw reductions in their gold reserves.
A recent CII survey shows optimism in the Indian economy, with 75% of companies finding the environment favorable for private investments. 97% of firms plan to increase employment in FY25 and FY26, with anticipated wage growth and personal consumption boosts. India's 'Viksit Bharat' vision by 2047 depends on creating quality jobs.
L&T chairman SN Subrahmanyan, facing backlash for supporting a 90-hour work week, received Rs 51 crore in compensation last year. His comments about working Sundays have drawn widespread criticism, including from actress Deepika Padukone.
India's military modernization continues in a slow and haphazard manner with a modest 9.5% hike in the defence budget. The capital expenditure for acquisitions and infrastructure saw only a 4.6% increase, while the revenue outlay for operational costs and salaries remains almost double the capital provision.
Concerns over the US economy heading towards a recession are rising! A recent SBI Research report shows that the long term US GDP growth shows a declining trend. The economic uncertainty looms large, particularly noteworthy as it follows a period when the US economy demonstrated remarkable strength.
Stock market recommendations: Anand Rathi Shares and Stock Brokers' Mehul Kothari suggests buying Saregama and Jio Financial Services, citing bullish patterns and breakouts. Saregama shows strength above its 200 DEMA with an inverse head and shoulder pattern. Conversely, Power Grid is a sell due to exhaustion and resistance near its 200 DEMA, coupled with negative RSI divergence, indicating potential profit booking.
Investments in India are set to grow faster than consumption in FY26, driven by government and RBI measures. GDP growth is expected between 6.5-7%, with improving rural consumption and higher government spending bolstering economic activity. Private investments remain stable due to strong corporate order books, while nominal GDP growth could rise to 10-11%.
BlueStone Jewellery and Lifestyle, a Bengaluru-based company, has filed for an initial public offering (IPO) to raise ₹1,000 crore ($118 million). The IPO includes a fresh issue of ₹750 crore for working capital and an offer-for-sale component where existing investors like Accel, Saama Capital, and Kalaari Capital will divest shares.