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Record-high gold prices in India, nearing 90,000 rupees per 10 grams, have led to a significant decline in demand, with private households selling jewelry to capitalize on these prices. The Indian Bullion and Jewellers Association anticipates a drop in demand exceeding 30% this year, as the current wedding season fails to attract typical customer traffic. Analysts warn that waning investor interest could trigger a sharper price correction.
Citigroup Inc has secured a 10-year lease for over 7.7 lakh sq ft of office space in Pune's Kharadi locality, valued at Rs 1,100 crore, marking the largest commercial office transaction of the year. The space, located in Panchshil Business Hub, spans 10 floors and includes a clause for a 15% rental escalation every 36 months. Citicorp Services India, a subsidiary of Citigroup, will utilize the space for various operational functions and has also acquired exclusive parking for 770 cars and 1,185 two-wheelers.
Coherent Market Insights, headquartered in India with offices in the U.S., UK, and Japan, provides reliable market reports across various sectors in over 57 countries. Their research on the Cell Therapy Manufacturing Market includes insights on market dynamics, competitive analysis, and growth potential, aiding clients in informed decision-making and strategic planning. The report highlights key trends, driving factors, and profiles of major players, ensuring clients stay updated on industry developments.
Hong Kong is projected to surpass Switzerland as the leading global wealth hub by 2027-2028, driven by its strategic position linking the Chinese mainland and global markets. HSBC's Mark Tucker highlighted the region's potential, bolstered by China's technological advancements and supportive policies for private enterprises, which are enhancing investor confidence and market activity. The Hang Seng Index has seen significant growth, reflecting the positive momentum in Hong Kong's economic and financial landscape.
The Andhra Pradesh government has launched the AP Innovation & Startup Policy (4.0) 2024-2029, aiming to create 20,000 startups and 10 unicorns in five years. The initiative includes establishing 10 centres of excellence in emerging technologies and creating 100,000 jobs, while also enhancing infrastructure to attract semiconductor investments. The policy seeks to strengthen the startup ecosystem by connecting entrepreneurs to global markets and fostering innovation through initiatives like the "Ratan Tata Innovation Hub."
Indian automakers are set to benefit from anticipated government wage hikes, with Goldman Sachs projecting a 14%-19% increase for 5 million employees following the 8th Pay Commission. This boost, alongside tax savings post-FY26 budget, is expected to drive demand in the auto sector. Key beneficiaries include Eicher Motors, TVS Motor, Maruti Suzuki, and Uno Minda, with respective share price movements of 13.3%, 3%, and 9.7% in 2025, while the Nifty auto index has declined by 4.5%.
The Bangko Sentral ng Pilipinas (BSP) is reducing its intervention in the peso market as inflation remains within the 2%-4% target for seven months. The peso has appreciated nearly 1% against the US dollar this month, positioning it as Asia's second-best performing currency, which may allow for a potential rate cut.
Ultratech Cement's share price rose by 3.20% following an upgrade to 'buy' by UBS, which also raised target prices for several cement stocks. The brokerage anticipates increased market share for top manufacturers and expects demand to rise due to housing and government spending. Despite a 17% decline in net profit year-on-year, the outlook for the sector remains positive amid ongoing consolidation.
UBS has upgraded UltraTech Cement's stock rating from Neutral to Buy, raising the price target to INR13,000 from INR9,000. The upgrade is attributed to the company's strong execution, advantageous market position, and expected growth in volume and capacity shares, alongside a healthy balance sheet and potential for further expansion through mergers and acquisitions. UBS forecasts significant EBITDA growth rates of 31% from FY25E to FY27E and 14% from FY27E to FY30E, reflecting confidence in UltraTech's future performance.
UBS has upgraded Ambuja Cements' stock rating from 'Sell' to 'Buy' and raised its target price from INR475 to INR620, citing improved operational capabilities and growth prospects. The firm expects Ambuja to become India's fastest-growing cement company from fiscal years 2025 to 2028, with market share projected to rise significantly by fiscal year 2030. Despite current margin lagging, UBS anticipates substantial EBITDA growth driven by increased volumes and enhanced synergies with its parent company, Adani.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
record high gold prices lead to decline in indian demand
15:26 25.03.2025
citigroup leases 7.7 lakh sq ft office space in pune for 10 years
13:04 25.03.2025
global insights into cell therapy manufacturing market trends and opportunities
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12:29 25.03.2025
hong kong poised to overtake switzerland as leading global wealth hub
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11:57 25.03.2025
andhra pradesh targets 20000 startups and 10 unicorns by 2029
11:30 25.03.2025
Indian auto stocks poised for growth amid potential government wage hikes
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08:41 25.03.2025
Philippines central bank reduces peso intervention amid easing inflation and rate cut prospects
07:46 25.03.2025
Ultratech Cement shares rise after UBS upgrade to buy rating
06:48 25.03.2025
ubs upgrades ultratech cement to buy with target raised to inr 13000
06:43 25.03.2025
ubs upgrades ambuja cements to buy raises target to inr620
06:42 25.03.2025
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