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Nestlé S.A. is evaluated among the top cookies and crackers stocks as the global market, valued at $100.2 billion in 2023, is projected to grow to $122.45 billion by 2030, driven by North America and rapid expansion in Asia Pacific. Despite economic pressures, snacking remains a resilient category, with consumers maintaining spending habits. Meanwhile, Mondelēz International's potential acquisition of Hershey could reshape the confectionery landscape, competing with Mars' upcoming merger with Kellanova.
Wall Street will have a half-day session on December 24, closing early at 1 p.m. (EST) ahead of Christmas, when the NYSE and Nasdaq will be closed. Motilal Oswal recommends an overweight strategy on banks and IT, with Zomato and ICICI Bank as top picks, while the market cap of the top 10 companies has shrunk by ₹4.95 lakh crore, heavily impacting TCS and Reliance. Zomato's stock has surged over 43% in six months, outperforming the Sensex, and is expected to remain in focus as market triggers like F&O expiry and global cues influence trends this week.
Nestle India is set to announce its Q3 results for FY 2024-25 on January 31, 2025, before 3.30 pm. The company reported a consolidated net profit of Rs 899.4 crore in Q2 FY25, a slight decline from the previous year, with revenue increasing by 1.3% to Rs 5,074.76 crore. The trading window for its shares will be closed from January 1 to February 2, 2025.
Nestle India has stated that the recent withdrawal of Switzerland's Most Favored Nation (MFN) status will have no impact on its operations. The company reassured stakeholders that its business remains stable despite the geopolitical changes.
Aptos CEO Mo Shaikh has resigned, effective December 19, to pursue new opportunities while remaining a strategic adviser. Avery Ching, co-founder and former CTO, has taken over as CEO, focusing on expanding the ecosystem and driving technical advancements, particularly in Asia. Under Shaikh's leadership, Aptos launched its layer-1 blockchain mainnet and secured over $400 million in funding.
Siemens Ltd. shares fell 10.04% to Rs 6,867.05 after management announced it would not participate in upcoming LCC tech-based HVDC tenders, opting instead for VSC-based projects. The company reported a 25% increase in profit after tax for Q3, driven by higher revenues, despite weak government capital expenditure orders. UBS highlighted rising profitability and new orders in the energy sector, with plans to list the energy division in early 2025, potentially unlocking significant value.
Siemens Ltd. shares fell 10.04% to Rs 6,867.05 after management announced they would not participate in upcoming LCC tech-based HVDC tenders, opting instead for VSC-based projects. The company reported a 25% increase in profit after tax for Q3, driven by higher revenues, despite weak government capital expenditure orders. UBS highlighted rising profitability and new orders in the energy sector, with plans to list the energy division in early 2025, potentially unlocking significant value.
XRP's recent price fluctuations have been influenced by a 15% drop following a U.S. SEC appeal against Ripple Labs, creating uncertainty among investors. Despite this, analysts remain optimistic, predicting potential price surges due to increased adoption, including Wells Fargo's integration of XRP for payments and successful oil trades between India and UAE using the XRP Ledger. The cryptocurrency's utility in cross-border transactions positions it for significant future growth, with some forecasts suggesting it could reach values as high as $1,000 in the coming years.
The Indian stock market experienced a significant downturn, with the Sensex closing at 78,041.59, down 1.49%, and the Nifty at 23,587.50, down 1.52%. All sectoral indices fell, particularly the realty index, which dropped by 4%, contributing to a market capitalization loss exceeding ₹19 lakh crore. This marked the largest decline in two years, with both Nifty and Sensex falling over 4%.
Morocco is finalizing its first set of cryptocurrency regulations, developed with the assistance of the World Bank and IMF, aiming to protect users while fostering innovation. With growing crypto adoption, the proposed laws will undergo public discussions before parliamentary approval, positioning Morocco as a potential leader in crypto regulation among developing nations.
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