Chennai Gold Prices Hit Record High Amid Trade War

Chennai Gold Prices Soar to New High Amid Global Trade Tensions

Gold prices in Chennai reached an all-time high on February 5, 2025, fueled by escalating trade tensions between the U.S., Mexico, and China. As the U.S. dollar retreated from record highs, precious metals experienced a significant rally. Analysts suggest that a worsening trade dispute could push gold prices even higher in the coming days.

Today's Gold Rates in Chennai

As of today, February 5, 2025, here's a snapshot of the gold rates in Chennai:

• 22-Carat Gold: Increased by Rs. 950 per 10 grams, reaching Rs. 79,050 per 10 grams.
• 24-Carat Gold: Increased by Rs. 1,040 per 10 grams, reaching Rs. 86,240 per 10 grams at retail.
• 18-Carat Gold: Increased by Rs. 780 per 10 grams, reaching Rs. 64,680 per 10 grams.

Bulk Gold Prices

For those looking to invest in larger quantities, the rates are as follows:

• 100 grams of 22-carat gold: Retailing at Rs. 7,90,500 after surging by Rs. 10,500.
• 100 grams of 24-carat gold: Priced at Rs. 8,62,400, an increase of Rs. 9,500.

Silver Prices in Chennai Today

Silver prices also experienced a notable increase:

• Silver prices in Chennai spiked by Rs. 1,000 per kilogram, costing Rs. 107,000.
• 100 grams of silver: Currently priced at Rs. 10,700, after rising by Rs. 100.

Gold Price Volatility Over the Last Five Days

The gold market in Chennai has seen significant fluctuations in recent days.

Dates	24-carat/10g	22 carat/10g
4th February	Rs. 85,200	Rs. 78,100
3rd February	Rs. 84,050	Rs. 77,050
2nd February	Rs. 84,490	Rs. 77,450
1st February	Rs. 84,490	Rs. 77,450
31st January	Rs. 84,330	Rs. 77,300

Global Spot Gold and Silver Rates

According to Reuters, spot gold surged 1.1% to USD 2,844.56 per ounce, briefly touching a new all-time high of USD 2,845.14. U.S. gold futures closed 0.7% higher at USD 2,875.80. Spot silver also rose strongly, climbing 2.5% to USD 32.33 per ounce.

The surge in gold prices reflects investors seeking safe-haven assets amid trade tensions and geopolitical uncertainty. China's retaliatory tariffs against the U.S. have further fueled demand for bullion.

MCX Gold and Silver Futures Outlook

Gold on the Multi Commodity Exchange (MCX) has also hit a record high, crossing the Rs. 84,000 mark. Gold futures maturing on April 4, 2025, jumped by 0.49% to trade at Rs. 84,204. Silver futures, with an expiry date of March 5, 2025, rose by 0.13% at Rs. 95,833.

Expert Analysis

The India Bullion and Jewelers Association, as featured in the Nirmal Bang securities report, noted that gold rose to a new all-time high due to trade war fears and a weaker dollar. The resilience of both the U.S. and Chinese economies, as well as any ripple effects on monetary policy, will be key factors as the trade war unfolds. They suggest that the strength of the dollar will be important, as a stronger greenback makes bullion more expensive for many buyers.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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JTL Industries Secures Rs 24 Crore GI Pipe Order For Jal Jeevan Mission

Boost to Rural Water Infrastructure Under Jal Jeevan Mission

JTL Industries has secured a major Rs 24 crore order for supplying 3,000 metric tonnes of galvanised iron (GI) pipes under the Jal Jeevan Mission (JJM). The order, placed by the Public Health Engineering (PHE) Department, Jammu, aims to enhance rural water infrastructure and is expected to be delivered within 30 days.

JTL Industries' Stock Reacts Positively

Following the announcement, JTL Industries' stock price witnessed a sharp uptick. The stock opened at Rs 98.51 on the BSE, higher than its previous closing price of Rs 98.05. It later surged to an intraday high of Rs 102.65, reflecting a nearly 5% gain.

Company’s Growth Strategy and Management Statement

The management of JTL Industries expressed optimism about this development. They stated:

"We are pleased to announce this significant order under the Jal Jeevan Mission. With our proven track record in government projects, JTL is well-positioned to support this initiative. As investments in water infrastructure rise, we see significant opportunities to create long-term stakeholder value and enhance our visibility in the sector."

Jal Jeevan Mission: A Game-Changer for Rural India

Launched on August 15, 2019, by Prime Minister Narendra Modi, the Jal Jeevan Mission has transformed rural water availability. The initiative has expanded tap water coverage from 3.23 crore (17%) households at launch to 15.44 crore (79.74%) as of February 1, 2025.

The government has now extended the mission until 2028, with a projected outlay of Rs 4 lakh crore. For FY 2025-26 alone, the Jal Shakti Ministry has allocated Rs 67,000 crore for water infrastructure projects.

About JTL Industries

JTL Industries is among India's fastest-growing steel tube manufacturers, with a registered office in Chandigarh. The company operates manufacturing plants in Chhattisgarh, Maharashtra, and Punjab, with a total production capacity of 6,86,000 MTPA for pipes and 3,00,000 MTPA for backward integration.

As a recognized Star Export House, JTL Industries offers a diverse product range, including:

• Hollow sections
• Solar structures
• MS Black pipes
• GI pipes
• Other industrial and infrastructure-grade products

With its strong presence in government infrastructure projects, JTL Industries is poised for further growth in India's expanding water security initiatives.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not constitute financial advice. Investing in equities carries risks, and readers should conduct their own research or consult a financial advisor before making any investment decisions.

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Info Edge Q3 Results: Net Profit Jumps 60% YoY to Rs 243 Crore, Revenue Rises 15%

Info Edge Q3 Results: Net Profit Surges 60% YoY to Rs 243 Crore, Revenue Up 15%

Strong Growth in Revenue and Profitability

Info Edge, the parent company of leading job portal Naukri, posted an impressive 60.6% year-over-year (YoY) growth in net profit for Q3FY25. The company reported a net profit of Rs 242.59 crore for the quarter ending December 2024, up from Rs 151.09 crore in the same period last year.

The company’s revenue from operations also showed strong growth, rising 15.2% YoY to Rs 722.39 crore, compared to Rs 627.12 crore in Q3FY24.

Operating Profit and Margins Show Improvement

• Info Edge reported a 20.4% increase in operating profit, reaching Rs 263.4 crore compared to Rs 218.7 crore last year.
• The company’s operating profit margin improved to 39.2% of revenue.
• Cash from operations (before taxes) stood at Rs 345.8 crore for Q3FY25.

Key Business Highlights

Managing Director and CEO Hitesh Oberoi highlighted that Info Edge achieved a 16% growth in billings for Q3, driven by consistent performance across all four verticals. The recruitment business remained the primary growth driver, contributing significantly to operating profits.

Additionally, the company's non-recruitment businesses are approaching breakeven, strengthening Info Edge’s long-term sustainability.

Earnings Per Share (EPS) and Financial Performance

Info Edge's earnings per share (EPS) for Q3FY25 was Rs 20.06, reflecting a 21.2% YoY growth. Meanwhile, the company's cash generated from operations (before taxes) saw a 26.9% YoY growth, reaching Rs 346 crore.

With strong revenue growth, improved margins, and rising profits, Info Edge continues to solidify its position in the digital recruitment and classifieds sector.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Swiggy Q3 Results: Net Loss Widens to Rs 799 Crore, Revenue Up 11%

Swiggy Reports Higher Losses Despite Revenue Growth

Swiggy Ltd. posted a consolidated net loss of Rs 799.08 crore for the October-December quarter of the financial year ending March 2025. This marks a widening loss compared to Rs 625.53 crore reported in the previous quarter (July-September).

Despite the increasing losses, Swiggy’s revenue showed positive growth, rising by 10.9% sequentially to Rs 3,993.07 crore.

Key Revenue Drivers: Food Delivery and Quick Commerce

• The company's food delivery business generated Rs 1,636.88 crore in revenue.
• Swiggy Instamart, its quick commerce division, recorded a strong 17.7% sequential growth, contributing Rs 576.5 crore to total revenue.

Operating Loss Widens

Swiggy's operating loss (EBITDA loss) stood at Rs 725.66 crore, compared to Rs 554.17 crore in the previous quarter. This reflects a continued struggle with profitability despite higher revenue.

Stock Performance and Market Reaction

Ahead of the results announcement, Swiggy’s stock closed at Rs 418.05, marking a 3.69% decline for the day. During intraday trading, the stock fell as much as 4.55% to hit Rs 414.3. Meanwhile, the benchmark NSE Nifty 50 index declined 0.18%.

Since its market debut in November 2024, Swiggy's stock has seen an overall decline of 8.32%, reflecting investor concerns over sustained losses.

As Swiggy navigates its financial challenges, the company's ability to balance revenue growth with cost efficiency will be key to improving profitability in the coming quarters.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Welspun Corp Q3 Results: Net Profit Soars to Rs 672 Crore

Strong Profit Growth Driven by Cost Reduction

Welspun Corp Ltd has announced a significant surge in its consolidated net profit for the December quarter, reporting a two-fold increase to Rs 672.19 crore. This marks a substantial rise from the Rs 293.70 crore recorded in the same period last fiscal year. The impressive growth was primarily attributed to lower operational expenses, as per the company's latest exchange filing.

Revenue Decline Despite Profitability

Despite the increase in net profit, the company's total income declined to Rs 3,656.57 crore in the October-December quarter, compared to Rs 4,758.17 crore in the corresponding period of the previous year. This reduction in revenue did not hinder profitability, as Welspun Corp effectively managed its cost structure.

Cost Optimization Boosts Performance

The company's strategic cost-cutting measures resulted in a substantial decrease in expenses, which dropped from Rs 4,438.79 crore in the previous year to Rs 3,351.36 crore in the current quarter. This efficiency played a key role in driving the company's profit margins higher.

Welspun Corp's Global Presence

Welspun Corp is recognized as one of the largest manufacturers of large-diameter pipes worldwide. With a well-established global footprint spanning six continents and over 50 countries, the company continues to be a key player in the industrial and infrastructure sectors.

Looking ahead, investors will be keen to see how Welspun Corp balances revenue growth with continued cost management strategies in the coming quarters.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Angel One Stock Surges on 28% Options Premium Growth

Angel One Shares Surge 6% on Strong Options Premium Turnover Growth

Shares of Angel One experienced a significant rally, surging by 6%, after the company reported impressive growth in its options premium turnover for January 2025. The stock reached an intraday high of Rs 2,497.20 on the BSE.

Key Performance Highlights

The surge in Angel One's stock price is attributed to several positive indicators, including:

• Options Premium Turnover Growth: A substantial 28.3% year-over-year (YoY) increase in options premium Average Daily Turnover (ADTO), reaching Rs 85,000 crore.
• Client Base Expansion: A 47.5% YoY growth in the client base, reaching a total of 30.13 million.
• Commodity ADTO Surge: An impressive 81.9% YoY surge in commodity ADTO, reaching Rs 65,500 crore.

Detailed Analysis of Turnover Figures

While options premium and commodity turnover showed robust growth, other areas experienced a decline. Here's a closer look at the key turnover figures:

• Overall ADTO (Notional Turnover): Down 29.8% YoY, standing at Rs 30.82 lakh crore.
• F&O ADTO (Notional Turnover): Down 30.6% YoY, reaching Rs 30.10 lakh crore.
• F&O ADTO (Option Premium Turnover): Down 12% YoY, declining to Rs 13,000 crore from Rs 14,700 crore.
• Cash ADTO: Down 19.5%, decreasing to Rs 6,500 crore from Rs 8,100 crore.

Market Share Gains

Despite some declines in turnover, Angel One made significant gains in market share across various segments:

• Option Premium Turnover Market Share: Increased to 19.7%, a 192 basis point increase from 17.8%.
• F&O Market Share (Option Premium Turnover): Reached 21.8%, a 241 basis point improvement from 19.3%.
• Cash Turnover Market Share: Rose to 16.6%, a 107 basis point increase from 15.6%.
• Commodity Turnover Market Share: Showed strong growth, reaching 61.2%, up 180 basis points from 59.4%.

Angel One's strong performance in options premium and commodity turnover, coupled with significant client base growth, has fueled investor optimism, leading to the recent surge in its share price.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Swiggy, Info Edge Q3 Earnings: Revenue Growth & Loss Expansion

Q3 Earnings Season: Swiggy, Info Edge, and More Set to Announce Results

The Q3 earnings season is in full swing, with approximately 124 companies scheduled to release their financial results. Investors are keenly awaiting updates from key players such as Swiggy and Info Edge, among others.

Key Companies Announcing Results

Apart from Swiggy and Info Edge, several other notable companies are set to disclose their Q3 performance. These include:

• Zydu's Lifesciences
• Sula Vineyards
• Sagility India
• Innova Captab
• CMS Info Systems
• AGI Infra
• Asia Capital
• CCL Products
• Abbott India

Swiggy Q3 Expectations: Revenue Growth and Expanding Losses

All eyes are on Swiggy, the food delivery and quick commerce giant, as it prepares to announce its Q3 earnings. While a sequential improvement in revenue is anticipated, analysts predict a widening of losses. Here's a breakdown of the expectations:

Revenue Projections

Estimates suggest that Swiggy's revenue will experience a 12% quarter-on-quarter (QoQ) increase, reaching approximately Rs 4,035 crore. This growth is expected to be fueled by the strong performance of both its food delivery and quick commerce segments.

Loss Projections

Despite revenue growth, Swiggy's losses are projected to expand, potentially reaching around Rs 700 crore. This increase is attributed to competitive pressures and ongoing expansion efforts.

Food Delivery Business

The gross order value (GOV) for Swiggy's food delivery business is forecasted to achieve a 19% year-over-year (YoY) growth rate, with a take rate of 22%. The adjusted EBITDA margins, as a percentage of GOV, are anticipated to improve by 20 basis points QoQ to 1.8%. Monthly transacting users (MTUs) are expected to grow to 15.2 million, compared to 14.7 million in the previous quarter.

Instamart Performance

Swiggy's quick commerce platform, Instamart, is projected to report sequential GOV growth of 18%, driven by a robust increase of 13% in order volumes. This growth is expected to be supported by an increase in MTUs. Take-rates are expected to improve to 14.9% from 14.5% in the second quarter.

Challenges and Outlook

Despite positive growth in key segments, Instamart's contribution margin is expected to contract to -3.6%, primarily due to aggressive dark store expansion and a highly competitive environment. The quick commerce business is projected to report a -10% adjusted EBITDA margin in Q3.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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