Fri, Jul 5, 2024 2:46 PM
Picks of Motilal Oswal in the capital goods sector ahead Q1 results
A Flip by Shubhangi Gupta
Gold has surged 16% since the start of 2024, reaching a record high of $2,450 per ounce, driven by geopolitical tensions, lower U.S. interest rates, and strong demand from China and India. Central banks, particularly in Asia, are diversifying their foreign exchange reserves by buying gold, reducing their dependence on the U.S. dollar
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Crypto theft has reached $1.38 billion in the first half of 2024, more than double the amount stolen in 2023, according to TRM. If the trend continues, this year's figure may surpass the $1.7 billion stolen in 2023. Hackers are targeting private keys, seed phrases, smart contracts, and flash loans to steal funds. The high value of bitcoin, which reached $73,000 in spring.
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Bank of India's Q1 update for FY2024-25 shows a 15.8% year-on-year increase in global advances to ₹6,00,054 crore, with a 2.5% sequential quarter growth. Domestic advances rose 17.2% year-on-year to ₹5,07,962 crore. Global deposits grew 9% year-on-year to ₹7,59,836 crore, with a 3% quarterly increase. The bank's overall business expanded 11.94% year-on-year to ₹13,59,890 crore.
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