After a subdued 1HFY25, the hospitality sector rebounded strongly, fueled by a vibrant wedding season and thriving MICE activities. Key players are expected to post 10-12% YoY RevPAR growth this quarter, driven by an 8-10% rise in Average Room Rates (ARR). Luxury and upper-upscale hotels witnessed RevPAR growth of 15-17% in the month, aided by high occupancy and rising ARRs.

Aurobindo Pharma's subsidiary CuraTeQ Biologics has received marketing authorization from the UK's Medicines and Healthcare products Regulatory Agency for Bevqolva, its biosimilar version of bevacizumab, used to treat various cancers. Aurobindo Pharma's net profit jumped 85% year-on-year to ₹757.2 crore in Q2 2023.

The shares of Vedanta and Mazagon Dock Shipbuilders, among others, are expected to gain attention next week as their record dates approach for corporate actions such as dividends, bonus share issuances, and stock splits. The record date is a crucial benchmark set by companies to identify the shareholders entitled to receive benefits such as dividends, stock splits, or bonus shares.

Rajasthan-based Shree Cement will invest Rs 1,100 crore in Bihar to set up a cement plant and solar power project in Purnea district, its chairman H M Bangur said on Friday. The Bangur family-promoted company is among the top five cement producers in the country. "We have signed an MoU with the Bihar govt to invest Rs 800 crore.

The Competition Commission of India (CCI) has approved UltraTech Cement's proposal to acquire a majority stake in India Cements, allowing UltraTech to expand its footprint in the southern cement market. The deal involves UltraTech acquiring 32.72% of India Cements' equity share capital and making an open offer to acquire up to 26% more.

Gold prices extended gains on Friday, supported by a softer dollar and Treasury yields after U.S. economic data indicated a slowdown in inflation, although the Federal Reserve's hawkish interest rate outlook kept bullion on track for a weekly loss. Spot gold was up 1.2% at $2,624.15 per ounce, as of 01:41 p.m. ET (1841 GMT) and U.S. gold futures settled 1.4% up at $2,645.10.

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Maharashtra's Ready Reckoner rates are likely to become more realistic as the state completes GIS mapping of land parcels, providing accurate data for assessing RR rates, which have remained unchanged since 2022. Maharashtra Remote Sensing Application Centre has completed GIS mapping of rural areas and 50% of urban regions.

Siemens' comments on lacking private capex traction in India led to a sharp decline in capital goods stocks, with Siemens shares plunging 10% and ABB India shares falling 6%. Despite this, analysts remain optimistic about the Indian capex cycle, expecting private-sector capex to intensify and drive earnings growth starting Q4 FY25.

Nearly 83% of FPI flows in the first fortnight of Dec were concentrated in three sectors - financial services, IT, and real estate. Overseas investors poured ₹7,424 crore into financial services, ₹6,754 crore into IT, and ₹4,689 crore into real estate stocks in this period. These investors sold ₹5,337 crore worth of oil & gas stocks, ₹1,823 crore in auto stocks, and ₹1,655 crore in FMCG shares.

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The MCG enforcement team has imposed a Rs 5 lakh fine on a builder in Sector 113 for violating the construction ban under GRAP-4, and also issued a Rs 5,000 fine to a motorcycle service centre in Wazirabad for littering. The corporation teams are taking action against those who have not stopped construction activities despite the ban.

U.S. stocks rallied to close out the trading week on Friday after two lackluster sessions as a cooler-than-expected inflation report and comments from Federal Reserve officials eased worries about the path of interest rates. The latest inflation report in the form of the Personal Consumption Expenditure (PCE) index showed a 2.4% rise in November on an annual basis.

The Indian markets erased all the last four weeks gains and posted biggest weekly fall in more than 2 years. The benchmark indices ended in red for all the trading sessions of the week amid global sell-off post US Fed cautious stance on the pace of future rate cuts, which led to huge FIIs selling. This week, BSE Sensex shed 4,091.53 points or 4.98 percent to close at 78,041.59.

Gold Rate and Silver Price Today on December 21, 2024: Gold prices experienced a modest decrease on Saturday. The cost of 24 carat gold in India is Rs.7696.3 per gram, reflecting an decrease of ₹ 330.0. The cost of 22 carat gold in India is 7056.3 per gram, a fall of ₹300.0.The price fluctuation of 24 carat gold over the past week is recorded at 0.08%.