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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.
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.
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%.
Nestle India has hit a 52-week low of Rs. 2147 on December 20, 2024, reflecting a 4.42% decline over the past five days and a 13.81% drop over the year. The stock is underperforming its sector by 0.71% and is trading below all major moving averages, indicating a bearish trend.
GIFT Nifty is nearing 23,900, with key focus on share prices of Bharti Airtel, Nestle, Mazagon Dock, and IndiGo. Gravita India Ltd. has successfully completed its qualified institutional placement, allocating 47.8 lakh shares at an issue price of Rs 2,096.2, reflecting a 5% discount to the floor price of Rs 2,206.49.
Cryptocurrency theft surged to $2.2 billion in 2024, with North Korean hackers responsible for 61% of the losses, totaling $1.34 billion across 47 incidents. While decentralized finance platforms were primary targets in early 2024, the focus shifted to centralized services later in the year, highlighted by significant breaches at DMM Bitcoin and WazirX. The ongoing threat from these cybercriminals emphasizes the urgent need for enhanced security measures in the crypto industry.
Nestlé India has assured stakeholders that Switzerland's suspension of the Most Favoured Nation (MFN) status will not impact its operations, as the company already deducts a 10% withholding tax on cross-border payments. The issue is a government-to-government matter, stemming from a Supreme Court ruling related to the MFN clause in the Double Taxation Avoidance Agreement. Nestlé India continues to invest significantly in the Indian market, reporting a revenue of Rs 24,393.9 crore for the financial year 2023-24.
Nestle India Ltd. stated that the suspension of Switzerland's 'most favoured nation' status for India will have "no impact" on its operations. This decision, stemming from a Supreme Court ruling, is a broader policy issue and not specific to the company, which already applies a 10% withholding tax on cross-border payments. Nestle India remains a significant market for the Swiss FMCG giant, having operated in the country for 112 years.
Norwegian regulations now mandate data centers to disclose ownership and services, aiming to empower local authorities in decision-making. Meanwhile, global enforcement against digital asset fraud intensified, with the CFTC and SEC reporting record recoveries from scams, including the FTX collapse and Terraform Labs fraud. In the U.K., a proposed bill seeks to classify digital assets as property, addressing legal ambiguities, while China revises AML laws to include virtual assets, maintaining a ban on digital asset transactions.
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