In November 2024, central banks globally increased their gold reserves by a total of 53 tonnes. The Reserve Bank of India added 8 tonnes, becoming the second-largest buyer in 2024. Poland led with 21 tonnes, while other significant buyers included Uzbekistan, Kazakhstan, China, and Jordan.
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US President Donald Trump plans to reintroduce a 25% tariff on steel and aluminum imports, raising concerns for Indian steel producers facing intense competition and oversupply. Despite the significant tariffs, India's strong domestic market is expected to mitigate adverse effects on its steel industry.
Rising global cocoa prices have led to a surge in chocolate costs this Valentine's Day, with chocolate makers like Amul and Smoor Chocolates increasing prices. Companies like Mondelez, Hershey's, and Nestle are also dealing with unprecedented cocoa cost inflation and may implement further price hikes. Consumers already facing inflation now have to spend more on chocolates.
Adani Group and Aditya Birla Group are set to enter the high-growth wires and cables sector, challenging an industry dominated by smaller, unorganized players. This move is expected to disrupt the market significantly. Both conglomerates have invested heavily, with Adani forming a joint venture and Aditya Birla announcing a major investment and plans for a new plant.
Telecom Minister Jyotiraditya Scindia affirmed continued government support for the mobile industry, emphasizing the importance of having at least four to five players. He stated satellite communication services will complement terrestrial networks to achieve complete coverage.
India and New Zealand have restarted discussions for a Free Trade Agreement after a 10-year hiatus. This new move aims to deepen economic ties and address market access issues to achieve balanced outcomes, as bilateral trade surpasses $1 billion.
Samsung reported a 129.85% year-on-year surge in Q4 operating profit, reaching 6.5 trillion won. Despite this growth, it fell short of the previous quarter due to challenges in meeting AI chip demand and increased R&D expenses. Competition from SK hynix and market conditions contributed to the dip in profits.
Sebi has proposed monthly systematic investment plans (SIPs) for a low ticket size of Rs 250. This aims to promote financial inclusion by subsidising costs for intermediaries. Investors can invest through up to three Rs 250 SIPs across different fund houses. Sebi plans to offer incentives to distributors and execution platforms for driving subscriptions to these small-ticket SIPs.
The Nasdaq crossed 20,000, a historic first. Tech stocks soared on AI hopes and rate cut expectations. The index jumped 33% this year. Apple, Nvidia, and Tesla led the rally. This followed a US inflation report. The report hinted at a Federal Reserve rate reduction. The Nasdaq closed at 20,034.89, up 1.8%. This rally benefited tech investors.
Shares of Coffee Day Enterprises surged 20% after the National Company Law Appellate Tribunal (NCLAT) set aside insolvency proceedings against the company. The stock reached its 52-week high on both BSE and NSE. The decision overturns an earlier order by the Bengaluru bench of NCLT.
India's IPO market is booming, exceeding its fundraising record this year. Experts predict the surge will continue into 2025, fueled by strong economic growth and investor enthusiasm. Vishal Mega Mart's successful debut exemplifies this trend. While IPOs dominate, mergers and acquisitions are also gaining momentum, particularly in infrastructure, healthcare, and consumer sectors, attracting significant global investment.