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Rexas Finance (RXS) is emerging as a significant player in the crypto market, focusing on the tokenization of real assets like real estate and art. With RXS currently priced at $0.09, a $500 investment could yield around 6,250 tokens, positioning investors for potential gains as interest in asset tokenization grows. The project has raised approximately $12.4 million in its presale, reflecting strong investor confidence in its long-term prospects.
New York's marijuana sales are on track to reach nearly $1 billion by the end of December, following legalization two years ago. Sales hit $863.9 million recently, with 245 licensed stores now operating, up from 41 in 2023. The market's growth is attributed to enhanced enforcement against illegal shops, generating $22 million in tax revenue.
Chinese developer Jinke Properties Group Co. plans to unveil its court-supervised onshore debt restructuring in the coming weeks, marking a significant move amid the ongoing property crisis. The proposal includes cash payments of up to 50,000 yuan ($6,902.80) to bondholders, with the remaining debt to be addressed through options like a debt-to-equity swap and a trust product.
Nifty has surged past 24,200, driven by bullish sentiment following the Mahayuti victory. Attention is now focused on realty stocks and Reliance Industries Limited (RIL) as market dynamics shift. Investors are encouraged to stay updated on relevant transactions and market movements.
J Kumar Infra, L&T, and other EPC firms saw significant gains as investors anticipated policy continuity following the Mahayuti alliance's victory in Maharashtra. The BSE India Infrastructure Index rose 3.5%, with J Kumar Infraprojects surging 16% and L&T up 4.2%. The government awarded projects worth Rs 1.5 lakh crore in the first seven months of the fiscal year, with major contracts going to key players in the region, bolstering expectations for a robust capex cycle ahead.
A millionaire who gained wealth through Bitcoin has hidden over $2 million in treasures across the U.S., including gold bullion and rare collectibles. John Collins-Black has published a book titled "There’s Treasure Inside," containing puzzles and maps to guide treasure hunters in their quest. He emphasizes that curiosity and imagination are key to solving the clues and finding the hidden chests.
The broader market experienced a significant rally on November 25, with the Nifty Smallcap 100 and Nifty Midcap 100 indices surging nearly 2%, driven by strong buying in PSU stocks. This surge follows the BJP-led Mahayuti alliance's decisive victory in Maharashtra, which analysts believe will lead to increased capital expenditure and a boost in infrastructure and manufacturing sectors. The win is expected to facilitate a more consolidated approach to state and central politics, further benefiting PSU companies and stalled development projects.
Kingfisher Plc shares fell sharply after the company revised its full-year profit guidance to the lower end of the range, citing budget-related uncertainty in the UK and France that has impacted consumer sentiment. The stock dropped as much as 12% to 258.9 pence in London. Kingfisher now anticipates an adjusted pretax profit of £510 million to £540 million, down from a previous range of £510 million to £550 million.
China Vanke Co. is seeking approval from lenders to modify the terms of two offshore loans amid deteriorating financial conditions due to an ongoing property crisis. The company is requesting waivers for certain covenants on two five-year loans totaling HK$15.7 billion, which are set to mature in December 2026.
BJP's decisive victory in Maharashtra has sparked a surge in real estate stocks, with the Nifty Realty index rising over 3%. Key players like Godrej Properties, DLF, and Prestige Estates saw gains of 1-7%, driven by optimism for renewed infrastructure focus in the state after years of political instability. Analysts believe this consolidation in governance will enhance sentiment and accelerate stalled development projects.
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