Nykaa is predicted to experience a threefold increase in net profit for the second quarter, reaching Rs 1900 crore in revenue. This surge is attributed to the success of their beauty and personal care (BPC) sector. The fashion vertical also showed growth, with revenue growth in the early twenties.
Posts in category Economic Times
Big movers on D-Street: What should investors do with Hindalco, ONGC and Asian Paints? (12-11-2024)
Indian benchmark indices closed relatively flat on Monday, impacted by several factors including persistent selling by foreign institutional investors (FII), underwhelming quarterly earnings reports, and weak performance in Asian markets. Analysts suggest investors avoid buying Hindalco, ONGC, and Asian Paints at current prices due to various technical indicators and market trends.
Oil prices hold their ground after falling on China stimulus (12-11-2024)
Oil prices remained relatively stable on Tuesday as market participants awaited the release of OPEC’s monthly report. This follows recent declines in oil prices attributed to China’s underwhelming stimulus package and persistent concerns about oversupply. Market analysts are particularly interested in OPEC’s demand projections, as downward revisions could exert further downward pressure on oil prices.
Bitcoin vaults to all-time peak as Trump election raises crypto excitement (12-11-2024)
Bitcoin reached a record high after Donald Trump’s election as US president. Cryptocurrency investors anticipate favorable regulations under his leadership. Trump has expressed support for digital assets and plans to position the US as a global crypto hub. Cryptocurrency stocks, including Coinbase and Riot Platforms, also experienced significant gains.
Gold hovers near 1-month low ahead of US data, Fed speakers (12-11-2024)
Gold prices hovered near a one-month low as investors awaited U.S. economic data and Federal Reserve commentary for clues on future interest rate movements. The dollar’s strength and the prospect of higher U.S. interest rates following Trump’s election victory weighed on bullion, despite a recent Fed rate cut and expectations of another in December.
Dollar soars with bitcoin as Trump trade ramps up; euro, yuan battered (12-11-2024)
The U.S. dollar surged to a four-month high as investors bet on Trump’s policies boosting the economy. Bitcoin hit a record high, fueled by Trump’s pro-crypto stance. Meanwhile, the euro and yuan weakened on fears of Trump’s trade policies.
Dow Jones Industrial Average notches record high close (12-11-2024)
The Dow Jones Industrial Average reached a new high, driven by bank stocks boosted by optimism surrounding President-elect Donald Trump’s anticipated fiscal policies. Smaller companies are also expected to benefit from Trump’s proposed tax cuts and anticipated deregulation. The market is closely observing inflation data and economic indicators for insights into monetary policy.
Tesla options draw ‘euphoric’ trading as Trump win fires up stock (12-11-2024)
Tesla shares surged by 8% due to investors’ optimistic outlook on Elon Musk’s connection with then President-elect Donald Trump. The stock reached its highest point in over two years. Trading activity in Tesla options was exceptionally high, with a significant portion concentrated in short-term contracts. Analysts suggested that a Trump administration could be advantageous for Tesla.
Asian shares edge higher after US equities gain (12-11-2024)
Japanese shares led regional gains, while stocks ticked lower in Australia and South Korea. Futures in Hong Kong pointed down amid disappointment over Chinese stimulus. US stock futures were slightly lower after a decline in technology shares on Monday offset gains in other parts of the market.