As per World Gold Council, due to an increase in consumer demand, the overall gold demand in the country has grown by 14% to 191.7 tonnes during the September quarter compared last year. In 2021, a demand of 168 tonnes of gold was reported. Also, the demand for gold increased by 19% to Rs 85,010 crore during the third quarter of 2022 as against Rs 71,630 crore in 2021.
Open FlipStocks opened higher on Tuesday as a new month of trading commenced, and Wall Street looked ahead to a key Federal Reserve decision on rates. The Dow Jones Industrial Average jumped 212 points, or 0.65%. The S&P 500 and Nasdaq Composite added 0.8% and 1.2%, respectively. A better-than-feared earnings season also continued with a strong report from Pfizer, while Uber shares popped on a revenue beat
Open FlipBP plc announced more than double profit during Q3 of $8.15 billion from $3.32 billion, imaging higher realizations, higher production, and an outstanding gas marketing & trading result. It posted a profit of $55.01 billion, up 53% Y/Y but missing the consensus of $64.76 billion. BP shares plunged 0.30% at $33.18 during the premarket session on Tuesday.
Open FlipIT giant Tech Mahindra paid a special interim dividend of 360%, or ₹18 per share on a face value of ₹5 when it released its Q2 results. The corporation established November 10 as the dividend record date. Investors who owned Tech Mahindra stock as of the record date would therefore be qualified for the aforementioned dividend payment. The large-cap stock ended at ₹1070.90 prior to its results.
Open FlipVisa is releasing five soccer-themed NFTs to help raise money for charity. Visa Masters of Movement auction on Crypto.com features NFTs inspired by iconic goals scored by five legendary footballers. The proceeds from the auction will go to UK charity Street Child United. Crypto.com is the only official cryptocurrency trading platform sponsor of FIFA World Cup Qatar 2022.
Open FlipSmart electric vehicle manufacturer NIO Inc produced 10,059 vehicles in October 2022, depicting a rise of 174.3% year-over-year. The deliveries include 5,979 premium smart electric SUVs, 2,814 ES7s, and 4,080 premium smart electric sedans. Collective deliveries of NIO vehicles are 259,563 as of October 31, 2022. Shares are trading higher by 7.14% at $10.36 in the premarket on Tuesday.
Open FlipThe price of gold increased by ₹177 to ₹50,869 per 10g as the price of the precious metal increased on the global market. The price of gold had reached ₹50,692 for 10g in the preceding transaction. From ₹57,978 per kg, the price of silver increased by ₹1,022 to ₹59,000 per kg. Silver was trading higher at $19.75 per ounce while gold was trading higher at $1,649.8 per ounce on the global market.
Open FlipJPMorgan Chase & Co. has established a healthcare venture-capital practice, joining the market when innovation in the life sciences stays high while investment has hauled back from last year’s record pace. It is entering the sector when life-sciences venture funding and initial public offerings are slowed down.
Open FlipCircle’s merger deal with the SPAC Concord Acquisition Group has been delayed again until the end of January. Circle, the issuer of the USD Coin (USDC) stablecoin, announced the delay of its $9 billion merger this week. As per reports, the reason for the delay is because Concord’s board does not think it will have time to hold a special stockholder meeting to approve the deal.
Open FlipFind Satoshi Lab, the parent company of the move-to-earn application STEPN, is releasing MOOAR, a membership-based, multi-chain non-fungible token (NFT) marketplace. The platform has a unique membership model and enforces royalties, too. Creator-set royalties on secondary market sales will be enforced by MOOAR.
Open FlipRebel Foods, a foodtech unicorn, has raised $12.5 Mn in debt financing from InnoVen Capital and Trifecta Capital. Innoven and Trifecta received 10K Series E NCD from the unicorn for the equivalent of ₹1 lakh each. Each of the two investors contributed ₹50 Cr to the startup's cloud kitchen. Rebel Foods has set aside $150 million for brand investments and acquisitions in India and other countries.
Open FlipShiba Inu currently trades at $0.00001274. In the last 24 hours, the coin moved 4.26% to the upside and went up by 28.14% in the past 7 days. The 13th largest cryptocurrency by market cap is moving in tandem with the rest of the market. The 24-hour trading volume is at $1.1 Billion, which is a 35.49% increase in the last 24 hours.
Open FlipThe Reserve Bank of India's central bank-backed digital currency was used to settle secondary market transactions in Indian government bonds worth 2.75 billion Indian rupees ($33.29 million) as part of a pilot. The new route was used to settle trades in three securities: five-year 7.38% 2027 bonds, previous benchmark 6.54% 2032 bonds, and current benchmark 7.26% 2032 bonds.
Open FlipChangpeng "CZ" Zhao, CEO of Binance, recently outlined the rationale for the company's $500 million co-investment in Elon Musk's Twitter. He cited the monetization potential, crypto community free speech and the opportunity to eventually “help bring Twitter into Web3,” as the major reasons behind the support.
Open FlipThe Life Insurance Corporation (LIC) now owns more than 5% of Tata Motors Ltd. as a result of the insurer's investment of $11.9 crore in the business. According to LIC in its regulatory filing, the insurer's ownership of Tata Motors has climbed from 16,59,48,741 to 16,61,98,741 equity shares, bringing its stake in the company's paid-up capital from 4.997% to 5.004%.
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