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<ul><li>The <keyword id="23341776" type="General" weightage="20" keywordseo="Redmi-Note-14-Pro" source="Orion">Redmi Note 14 Pro</keyword> and Redmi Note 14 Pro+ smartphones have been launched in India.</li><li>The smartphones are priced starting at ₹24,999 and will go on sale from December 13.</li><li>Here’s everything you need to know about the latest mid-range smartphones from <keyword id="874458" type="General" weightage="20" keywordseo="xiaomi" source="Orion">Xiaomi</keyword>.</li></ul> Chinese smartphone maker Xiaomi on Monday announced the launch of its latest mid-range smartphones in the Redmi Note series, dubbed the <keyword id="23338767" type="General" weightage="20" keywordseo="Redmi-Note-14-Pro" source="keywords">Redmi Note 14 Pro</keyword> and the Redmi Note 14 Pro+. The new Redmi Note smartphones come with several improvements over their predecessor, including an improved design and the latest hardware. The company also launched the more affordable Redmi Note 14 5G at the event. <h2>Redmi Note 14 Pro and Redmi Note 14 Pro+ price and availability</h2>The Redmi Note 14 Pro is priced at ₹24,999 for the 8GB RAM + 128GB internal storage variant and ₹26,999 for the 8GB RAM + 256GB internal storage variant. The Redmi Note 14 Pro+ is priced at ₹30,999 for the 8GB RAM + 128GB internal storage variant, ₹32,999 for the 8GB RAM + 256GB internal storage variant and ₹35,999 for the 12GB RAM + 512GB internal storage variant. Both the devices are available in Spectre Blue, Titan Black and Phantom Purple colour options and will go on sale from December 13. The devices will be available from Flipkart, Xiaomi Online Store and the company’s authorised retail stores across the country. <h2>Redmi Note 14 Pro and Redmi Note 14 Pro+ specifications</h2>Both smartphones run Android 14 out of the box with the company’s HyperOS on top. The devices will get three years of Android updates and four years of software updates. The smartphones feature a 6.67-inch 1.5K OLED display with a 120Hz refresh rate, up to 2560Hz instant touch sampling rate, up to 3000 nits peak brightness and Corning Glass Victus 2 protection. The smartphones offer Dolby Vision and HDR10+ support. <div type="image" title="Rn14p" msid="116134427" hostid="261" sizebytes="25010" caption="&amp;lt;p&amp;gt;Redmi Note 14 Pro&amp;lt;/p&amp;gt;"></div> While the Redmi Note 14 Pro is powered by the MediaTek Dimensity 7300 Ultra chipset, the Redmi Note 14 Pro+ is powered by the Qualcomm Snapdragon 7s Gen 3 chipset. Coming to the camera department, the Redmi Note 14 Pro features a triple camera setup at the back consisting of a 50MP primary camera with Sony LYT-600 sensor, an 8MP ultra-wide-angle camera and a 2MP macro camera. On the other hand, the Redmi Note 14 Pro+ features a triple camera setup at the back consisting of a 50MP primary camera with Light Fusion 800 sensor, an 8MP ultra-wide-angle camera and a 50MP telephoto camera. On the front, both smartphones feature a 20MP selfie camera. The Redmi Note 14 Pro is powered by a 5,500mAh battery with 45W fast charging support. The Redmi Note 14 Pro+ is powered by a 6,200mAh battery with 90W fast charging support. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/tecno-phantom-v-fold-2-and-phantom-v-flip-2-launched-in-india-starting-at-34999/articleshow/116044696.cms">Tecno Phantom V Fold 2 and Phantom V Flip 2 launched in India starting at ₹34,999</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-in-november-2024-tvs-and-bajaj-fight-for-the-second-spot/articleshow/115964041.cms">Electric two-wheeler sales grow in November 2024 – TVS and Bajaj fight for the second spot</a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x200-and-x200-pro-camera-centric-to-launch-in-india-on-december-12/articleshow/115930004.cms">Vivo X200 and X200 Pro camera-centric smartphones to launch in India on December 12</a>

Redmi Note 14 Pro and Redmi Note 14 Pro+ launched in India starting at ₹24,999

New Delhi: Steel companies in the country are likely to face margin pressure in the third quarter of FY25 as muted steel prices compress spreads, according to a report by Axis Securities. The report stated that the weak demand in China and higher exports from the country have been identified as key factors behind the decline in steel prices. The report highlighted that <keyword id="24048830" type="General" weightage="20" keywordseo="Chinese-steel-exports" source="keywords">Chinese steel exports</keyword> reached 92 million tonnes per annum (MTPA) between January and October 2024, marking a 22 per cent year-on-year increase. This has led to an oversupply in the global market, weighing down prices domestically. It said "Weak Chinese domestic demand along with higher Chinese exports has led to a decline in steel prices in India. Chinese steel exports from Jan'24 to Oct'24 stood at 92 MTPA, up 22 per cent YoY" In India, the average price of hot-rolled coil (HRC) steel in the trader's market in Mumbai fell by 8 per cent year-on-year and 6 per cent quarter-on-quarter to Rs 51,802 per tonne in the second quarter of FY25. Spot prices have further declined to Rs 49,000 per tonne, 5 per cent lower than the Q2FY25 average. The report also noted some signs of recovery in China's residential property sector, with increased transactions in major cities following policy measures aimed at boosting demand. However, challenges remain, as the three-month moving average of year-to-date floor space declined by 19 per cent year-on-year in September 2024, remaining in negative territory. It said "China's residential property sector is showing some signs of improvement with the transactions in major cities rising after recent policy measures introduced to boost demand". On the global front, the report noted that the probability of a 25-basis point rate cut by the US Federal Reserve in its December 2024 meeting has fallen to 58.9 per cent, down from 76.8 per cent in October 2024, owing to strong economic data from the US. Additionally, China has removed a 13 per cent export rebate on aluminum and copper, effective December 1, 2024, in response to anticipated tariff measures by the new US administration. These developments highlight the ongoing challenges and potential shifts in the global and domestic steel and metals markets.

Falling steel prices amid Chinese export surge, to reduce profits of companies in Q3 FY25: Report

<ul><li>The <keyword id="24407056" type="General" weightage="20" keywordseo="Moto-G35-5G" source="keywords">Moto G35 5G</keyword> smartphone has been launched in India.</li><li>The device is priced at ₹9,999 and is available in a single variant.</li><li>Here’s everything you need to know about the latest smartphone from <keyword id="11148" type="General" weightage="20" keywordseo="motorola" source="Orion">Motorola</keyword>.</li></ul> Motorola on Tuesday announced the launch of the Moto G35 5G, the company’s latest offering in its Moto G series. The Moto G35 5G is claimed to be the “fastest 5G phone” in the segment. The Moto G35 5G is the latest offering in the highly competitive sub-₹10,000 segment. Here’s everything you need to know about the latest budget smartphone from Motorola. <h2><keyword id="24407057" type="General" weightage="100" keywordseo="Moto-G35-price" source="keywords">Moto G35 price</keyword> and availability</h2>The Moto G35 has been priced at ₹9,999 for the single 4GB RAM + 128GB storage variant. The device comes in three colour options: Guava Red, Leaf Green, and Midnight Black. The device will be available from Flipkart, Motorola Online Store and the company’s authorised retail stores across the country starting from December 16. <h2>Motorola G35 specifications</h2>The Moto G35 runs on Android 14 out of the box with the company’s Hello UI. The smartphone will get one Android update and two years of security updates. It features a 6.67-inch Full HD+ LCD display with 120Hz refresh rate and Corning Gorilla Glass 3 protection. The smartphone is powered by the UNISOC T760 chipset. It is available in a single variant, offering 4GB RAM and 128GB of internal storage. Coming to the camera department, the Moto G35 is equipped with a dual camera setup at the back consisting of a 50MP primary camera and an 8MP ultra-wide-angle camera. On the front, the device sports a 16MP selfie camera. The Moto G35 is powered by a 5,000mAh battery and comes with 18W charging support. The device comes with a side-mounted fingerprint sensor and is IP52-rated for water and dust resistance. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-14-pro-and-redmi-note-14-pro-launched-in-india-starting-at-24999/articleshow/116134415.cms">Redmi Note 14 Pro and Redmi Note 14 Pro+ launched in India starting at ₹24,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/tecno-phantom-v-fold-2-and-phantom-v-flip-2-launched-in-india-starting-at-34999/articleshow/116044696.cms">Tecno Phantom V Fold 2 and Phantom V Flip 2 launched in India starting at ₹34,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x200-and-x200-pro-camera-centric-to-launch-in-india-on-december-12/articleshow/115930004.cms">Vivo X200 and X200 Pro camera-centric smartphones to launch in India on December 12</a>

Moto G35 5G with 120Hz display, 5,000mAh battery launched at ₹9,999

<ul><li>Tecno has launched the Phantom V Fold 2 and the Phantom V Flip 2 in India.</li><li>The Phantom V Fold 2 and the Phantom V Flip 2 are <keyword id="20406599" type="General" weightage="20" keywordseo="foldable-smartphones" source="keywords">foldable smartphones</keyword>.</li><li>Here’s everything you need to know about the latest foldable smartphones from Tecno.</li></ul> Tecno on Friday launched the Phantom V Fold 2 and Phantom V Flip 2 foldable smartphones in India. The devices are the successors of the company’s Phantom V series. The Phantom V Fold 2 and Phantom V Flip 2 smartphones are foldable devices from the brand and are priced aggressively. Here’s everything you need to know about the latest foldable smartphones from Tecno. <h2><keyword id="24345421" type="General" weightage="100" keywordseo="Tecno-Phantom-V-Fold-2" source="keywords">Tecno Phantom V Fold 2</keyword> specifications</h2>The Phantom V Fold 2 runs on Android 14 with the company’s HiOS on top. The device features a 6.42-inch Full HD+ LTPO AMOLED display on the outside and a 7.85-inch 2K+ LTPO AMOLED display on the inside. <div type="image" title="Untitled design" msid="116044646" hostid="261" sizebytes="15102" caption="&amp;lt;p&amp;gt;Tecno Phantom V Fold 2&amp;lt;/p&amp;gt;"></div> The device is powered by the MediaTek Dimensity 9000+ chipset, coupled with 12GB RAM and 512GB of internal storage. Coming to the camera department, the Tecno Phantom V Fold 2 features a triple camera setup at the back consisting of a 50MP primary camera, a 50MP ultra-wide-angle camera, and a 50MP portrait camera. For selfies, the device sports a 32MP selfie camera on the outer display and a 32MP selfie camera on the inner display. The device is powered by a 5,750mAh battery with 70W fast charging and 15W wireless charging support. The device is priced at ₹79,999. <h2><keyword id="24345422" type="General" weightage="20" keywordseo="Tecno-Phantom-V-Flip-2" source="keywords">Tecno Phantom V Flip 2</keyword> specifications</h2>The Phantom V Flip 2 also runs on Android 14 with the company’s HiOS on top. It features a 6.9-inch Full HD+ LTPO AMOLED display with a 120Hz refresh rate on the inside and a 3.64-inch AMOLED cover display. <div type="image" title="Untitled design (1)" msid="116044667" hostid="261" sizebytes="14224" caption="&amp;lt;p&amp;gt;Tecno Phantom V Flip 2&amp;lt;/p&amp;gt;"></div> The device is powered by the MediaTek Dimensity 8020 chipset, coupled with 8GB RAM and 256GB of internal storage. The device features a dual camera setup at the back consisting of a 50MP primary camera and a 50MP ultra-wide-angle camera. It features a 32MP selfie camera. The device is powered by a 4,720mAh battery with 70W fast charging support. The device is priced at ₹34,999. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-14-pro-to-launch-in-india-on-december-9-everything-we-know-so-far/articleshow/116007609.cms">Redmi Note 14 Pro+ to launch in India on December 9 – everything we know so far</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-in-november-2024-tvs-and-bajaj-fight-for-the-second-spot/articleshow/115964041.cms">Electric two-wheeler sales grow in November 2024 – TVS and Bajaj fight for the second spot</a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x200-and-x200-pro-camera-centric-to-launch-in-india-on-december-12/articleshow/115930004.cms">Vivo X200 and X200 Pro camera-centric smartphones to launch in India on December 12</a>

Tecno Phantom V Fold 2 and Phantom V Flip 2 launched in India starting at ₹34,999

About 2.1 per cent or Rs 7,581 crore of the withdrawn Rs 2,000 <keyword id="20481528" type="General" weightage="20" keywordseo="banknotes" source="keywords">banknotes</keyword> have not yet been returned to the <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>, about nine months after the deadline to deposit or exchange them at bank branches was over. This essentially means 97.87 per cent of the total value of the high-value Rs 2,000 banknotes are back in the banking system by the end of June 2024, the Reserve Bank of India said in a statement on Monday. The total value of Rs 2000 banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023, the date on which RBI decided to withdraw the banknote. The last day for the public to avail of exchange or to deposit high-value Rs 2000 banknotes at the banks was October 7, 2023. However, the window for depositing and/or exchanging the Rs 2,000 banknotes continues to be available at the 19 issue offices of the RBI. Those 19 RBI issue offices are in Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram. People from within the country can send Rs 2,000 banknotes through India Post from any post office to any of RBI Issue Offices for credit to their bank accounts in India. The Rs 2000 banknotes continue to be legal tender. The Rs 2000 banknote was introduced in November 2016, primarily to meet the currency requirements of the economy expeditiously after the <keyword id="19901049" type="General" weightage="20" keywordseo="withdrawal" source="keywords">withdrawal</keyword> of the legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time. The objective of introducing Rs 2000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, the printing of Rs 2000 banknotes was stopped in 2018-19. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank">Vraj Iron and Steel IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

2.1% of ₹2,000 banknotes, with value of ₹7,581 crore, still to be returned

India's retail inflation is projected to surge to 6.15% in October, exceeding the Reserve Bank of India's (RBI) tolerance threshold of 6%, according to a new report by Union Bank of India. The spike is attributed to persistent <keyword id="21013592" type="General" weightage="20" keywordseo="food-price-pressures" source="keywords">food price pressures</keyword> and the waning of favorable base effects from the previous year. Earlier this month, RBI governor Shaktikanta Das also echoed similar sentiments and noted that the inflation print for October 2024 could stay well above 5.5%. This is why, as Das highlighted, cutting interest rates as early as December would be very early and premature The <keyword id="19999655" type="General" weightage="20" keywordseo="Consumer-Price-Index" source="keywords">Consumer Price Index</keyword> (CPI) data for October, which will be released at 4 pm on Tuesday, as opposed to the previous practice of releasing this data at 5:30 pm on the 12th of every month, follows September's inflation reading of 5.49%, up from 3.65% in August 2024. The last time inflation breached the RBI's upper limit was in August 2023. Despite the RBI's anticipation of an October inflation "hump," the Union Bank report suggests that the magnitude of the increase might raise concerns, particularly as November's figures are also tracking at elevated levels. The bank maintains its forecast of unchanged interest rates in December's monetary policy meeting, with a modest 50 basis points rate cut cycle predicted to begin in February 2025. Food inflation remains a key driver of price pressures, with vegetables and edible oils leading the recent surge. In September 2024, India's YoY food inflation rate hit 9.24%, up from 5.66% in the month prior. However, the report projects some easing of food inflation in the January-March quarter, citing typical winter price moderation and improving prospects for rabi crops. Despite this, potential risks from food supply disruptions, imported edible oil prices, and the impact of potential trade tariff hikes will exist. The RBI, which aims to maintain retail inflation at 4%, has held the repo rate steady at 6.5% for the tenth consecutive time in its last meeting as part of its inflation containment strategy. A recent SBI report also noted that expecting rate cuts in this quarter would be immature, and easing was possible only during the first half of 2025. "Given the current estimates of FY25 real GDP growth at 7.2% and CPI at 4.50%, the RBI would quite possibly keep policy rates stable over the coming quarter at least. Emerging trends in the growth outlook would possibly determine the timing and extent of any policy easing. With near-term CPI numbers likely to stay elevated, it’s premature to consider expectations of any easing in the December review. "However, high-frequency data do validate a softness in growth data on an incremental basis. Given the anticipated aligning of CPI closer to the target over H2, a shallow easing, if any can be a reasonable possibility over H1 of CY 25", it added.

Retail inflation expected to breach 6% mark in October, says UBI Report

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> consolidated in a narrow range and settled for the day on a flat note, higher by 2 paise at 83.50 (provisional) against the US dollar on Thursday, on weak domestic markets and a strong American currency. <keyword id="19950258" type="General" weightage="20" keywordseo="forex" source="keywords">Forex</keyword> traders said massive <keyword id="20520117" type="General" weightage="20" keywordseo="foreign-fund-outflows" source="keywords">foreign fund outflows</keyword> dented investors' sentiments. At the interbank foreign exchange market, the local unit traded in a narrow range. It opened at 83.49, and touched an intraday high of 83.44. The local unit finally settled for the day at 83.50 (provisional), higher by 2 paise over its previous close. On Wednesday, the rupee stayed range-bound and settled 1 paisa lower at 83.52 against the US dollar. "The Indian rupee traded flat on weak domestic markets and a strong US dollar. The overnight jump in <keyword id="20024983" type="General" weightage="20" keywordseo="crude-oil-prices" source="keywords">crude oil prices</keyword> also put pressure on the rupee. However, likely dollar inflows supported the rupee earlier in the day," said Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 105.70, higher by 0.15 per cent, as the US dollar gained on hawkish Fedspeak and geopolitical tensions in the Middle East. "We expect the rupee to trade with a slight negative bias amid strength in the US dollar and selling pressure by foreign investors. However, mixed to positive Asian and European markets may support the rupee at lower levels. "Any intervention by RBI or bond related foreign inflows may support rupee at lower levels. Traders may take cues from weekly unemployment claims data from US and speeches from Fed officials. USD-INR spot price is expected to trade in a range of Rs 83.30 to Rs 83.75," Choudhary said. Brent crude futures, the global oil benchmark, rose 0.57 per cent to USD 84.06 per barrel. On the domestic equity market, the 30-share BSE Sensex fell 1,062.22 points, or 1.45 per cent to close at 72,404.17 points. The broader NSE Nifty settled 345.00 points or 1.55 per cent lower at 21,957.50 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 6,669.10 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms" target="_blank">Apple and Samsung dominate the top-selling smartphones in Q1 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/carl-pei-led-nothings-sub-brand-cmf-may-soon-enter-the-budget-phone-segment-in-india/articleshow/109968970.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/carl-pei-led-nothings-sub-brand-cmf-may-soon-enter-the-budget-phone-segment-in-india/articleshow/109968970.cms" target="_blank">Carl Pei-led Nothing’s sub-brand CMF may soon enter the budget phone segment in India</a><a href="https://www.businessinsider.in/business/auto/news/2024-maruti-suzuki-swift-launched-in-india-starting-at-6-49-lakh/slidelist/109979040.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/2024-maruti-suzuki-swift-launched-in-india-starting-at-6-49-lakh/slidelist/109979040.cms" target="_blank">2024 Maruti Suzuki Swift launched in India starting at ₹6.49 lakh</a>

Rupee settles on flat note, higher by 2 paise at 83.50 against US dollar

<ul class="summary-list"><li>Goldman Sachs predicts gold prices will hit $2,900 per troy ounce by early 2025.</li><li>Falling interest rates and high demand from central banks in emerging markets drive this rise, Goldman said.</li></ul>The price of <a target="_blank" class="" href="https://markets.businessinsider.com/commodities/gold-price">gold</a> is set to extend its record-setting rally to new highs by early 2025, according to a note from <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs.</a>Aside from <a target="_blank" class="" href="https://www.businessinsider.com/us-warns-severe-consequences-for-iran-after-attack-on-israel-2024-10">rising geopolitical tensions,</a> which tend to favor safe-haven assets like gold, two other factors should help drive further upside for the commodity.Those factors are falling interest rates and what appears to be an insatiable demand for the precious metal from central banks in emerging market countries.Goldman boosted its gold price target to $2,900 per troy ounce from $2,700, representing upside of about 9% from current levels.Such gains would come after gold prices have already rallied 29% year-to-date."We reiterate our long gold recommendation due to i) the gradual boost from lower global interest rates, ii) structurally higher central bank demand, and iii) gold's hedging benefits against geopolitical, financial, and recessionary risks," Goldman Sachs' Lina Thomas said.Goldman highlighted that the central banks of emerging market countries like China are behind the structural advance of gold prices since 2022.The bank estimates that institutional demand for the precious metal in the London OTC market has been strong through July, with year-to-date purchases averaging an annualized rate of 730 tons.That represents about 15% of global annual production estimates."Moderating but still significant central bank purchases on the London OTC market drive about 2/3 of the expected rise of the gold price to $2,900/toz in early 2025," Thomas said.In addition to lower interest rates and solid demand from central banks, gold should be top of mind for investors given the numerous risks in markets right now: an upcoming Presidential election, the potential outbreak of war between Israel and Iran, and <a target="_blank" class="" href="https://www.businessinsider.com/port-strike-could-wreck-us-economy-with-price-increases-scarcity-2024-10">economic uncertainty over the East Coast port strike.</a>

2 big reasons gold prices are set to surge 9% by early next year, according to Goldman Sachs

Indian companies across multiple sectors have reported disappointing results in the second quarter of fiscal year 2025, notes a new JM Financials report. Consequently, their poor performance has triggered stock price corrections for affected companies. The brunt of this weaker than expected earnings was largely borne by consumer centric sectors like FMCG (fast moving consumer goods), retail, and auto, which slacked largely due to dampened urban demand. For instance, India's largest automaker, Maruti Suzuki, reported a 5% YoY decline in its total domestic passenger vehicle wholesales, largely on the back of pent-up inventory. Similarly, Honda reported a staggering 23% YoY dip in its total sales during October 2024. A recent report by Bernstein noted that around 48% of the companies listed on the NSE100 index missed their earnings estimate for Q2FY25, the highest since March 2020. Most companies have mentioned deteriorated domestic demand, urban slowing, macroeconomic risk, and margin pressures as the main reasons behind the dip. "The quarter's earnings have made investors nervous," noted the JM Financials report. The challenging environment stems from multiple factors: softening consumer demand, rising input costs, and companies' limited ability to increase prices. Moreover, this is not limited to just one quarter. Companies have been reporting weak, single-digit earnings growth for the last six consecutive quarters. Data from India Data Hub also suggests that corporate profits of listed companies plunged by as much as 3.4% during the quarter ended September 30, 2024. This is in stark contrast to the year-ago period, where they had shot up by over 40% The oil and gas sector had a difficult quarter, with refiners hit by weak margins and city gas distributors struggling with higher input costs. Financial institutions showed mixed results. While government-owned banks reported strong numbers, microfinance institutions and some private lenders faced massive difficulties with their unsecured loans. Most notable amongst this was the case of IndusInd Bank, which saw its net profits dip by 40% amidst burgeoning provisions, which climbed 87% to Rs 1,820 crore in Q2, as against Rs 974 crore reported in the year-ago period. <h2>Markets head southwards</h2>The selling trend by FPIs has dragged down the major Indian indices, the Nifty 50 and Sensex, both of which have dropped by around 8% since the beginning of this selling spree in October. According to National Securities Depository Ltd. (NSDL) data, FPIs offloaded equities worth a significant Rs 19,994 crore in just the first five trading sessions of November last week. The impact is clearly visible on Indian stock markets. Data suggests that while every sector in October closed the month in red, auto, oil and gas, and consumer durables were the most badly hit, each declining by as much as 10% during the month. Another indicator underlining the inherent weakness of the market was that the month saw only 242 stocks hit their 52-week high, significantly below the usual monthly average of 310.

India Inc. stares at an earnings dearth in Q2, FMCG, auto, and consumer durables falter

Just as India gears up to celebrate Dhanteras tomorrow, in some good news for Indians, <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">gold prices</keyword> today witnessed a dip of about Rs 10, with 24-carat gold currently valued at Rs 8,045.3/gram and 22-carat gold at Rs 7,376.3/gram. As per the <keyword id="23632186" type="General" weightage="20" keywordseo="All-India-Sarafa-Association" source="keywords" meta.keywordsubtype="org" meta.entityname="All India Sarafa Association" meta.hostid="261" meta.entityid="All India Sarafa Association">All India Sarafa Association</keyword>, gold prices fell by Rs 400 to Rs 81,100/10 grams in Delhi today. However, silver remained flat at Rs 99,500 per kg. Meanwhile, gold of 99.55 purity declined Rs 400 to Rs 80,700 per 10 grams on Monday. The value of gold as a symbol of wealth and prosperity in our culture is no secret, which is why Indians look forward to buying it on auspicious, festive occasions like Dhanteras. Moreover, with the wedding season setting in, the demand for gold is only set to increase in the months to come. At 24%, the yellow metal's annual return in 2024 has been nothing less than glittering. Compare this with the 14.88% returns gold delivered in 2023. The last time gold returns skyrocketed was at the peak of the pandemic, i.e., in 2019-2020, when gold's annual yields were at 24.45% and 28.24%, respectively. In 2024, gold's demand as a safe investment avenue has only skyrocketed. <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">Geopolitical tensions</keyword> and inflationary pressures have pushed not just individual investors but even central banks to make a beeline for the yellow metal. During the second half of this year, India's RBI and Poland's National Bank were among the largest buyers of gold. Per a report by <keyword id="20046776" type="General" weightage="20" keywordseo="Religare-Broking" source="keywords" meta.keywordsubtype="org" meta.entityname="Religare Broking" meta.hostid="261" meta.entityid="Religare Broking">Religare Broking</keyword>, global official reserves of gold burgeoned by 290 metric tons during the first quarter of 2024. The momentum continued well into the second quarter as well, with global central bank gold purchases jumping by 6% to 183 tons during this period. "We continue to believe that gold has further upside potential wherein any dips could present buying opportunities. According to our recent quarterly report, a correction of 5-7% is plausible and could serve as an accumulation zone," note experts at Motilal Oswal Financial Services. <h2>Returns-wise, how has gold performed?</h2> Data from CapitalMind PMS suggests that between 2000 and 2024, gold has outperformed Nifty and silver in about 7 years. Nifty has been a clear winner overall, outpacing gold and silver in 12 out of 25 years in review. Silver only managed to inch past gold and Nifty in just 6 years. Per data, gold returns peaked at 29.9% in 2011, largely on the back of global financial uncertainty. Years where gold has delivered 20%+ returns <table style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 468pt; font-family: Merriweather; table-layout: fixed; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Year </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Gold Returns (in %) </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Nifty Returns (in%) </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2002 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">24.1 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">5.3 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2008 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">24.5 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">-51.3 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2009 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">24.9 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">77.5 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2010 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">21.7 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">19.2 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2011 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">29.9 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">-23.8 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2019 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">22.9 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">13.5 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2020 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">27 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">16.1 </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: CapitalMind PMS Not just in India, gold has delivered returns exceeding domestic equity markets in most emerging countries like Turkey and Argentina. Per the DSP Netra October report, over the last 26 years, equity markets in Turkey have delivered 21.2% returns, as opposed to gold, which has generated 29.3% returns during the same period. Similarly, in Argentina, equity markets have delivered 38.4% returns, while gold saw 44.3% returns in the same time frame. <h2>Stay put for Silver</h2> However, if experts at Motilal Oswal Financial Services are to be believed, the performance of silver could either match or outperform gold in the medium to long term, as <keyword id="20762025" type="General" weightage="20" keywordseo="silver-prices" source="keywords">silver prices</keyword> are expected to reach Rs 1,25,000 per kilogram on the Multi Commodity Exchange (MCX) and USD 40 per ounce on the COMEX within the next 12 to 15 months. In fact, even the YTD (yield to date) for silver is higher at 31.1% as compared to gold, which stands at 22.6%. However, do not go overboard with silver allocation in your portfolio.

Ahead of Dhanteras 2024, how has gold glittered so far this year?

When Apple unveiled the Vision Pro during WWDC last year, the world waited for what looked like the next big thing in the virtual reality world. The Vision Pro was praised by journalists ahead of its launch and its hefty price tag also raised some eyebrows. Now, the Cupertino-based tech giant is gearing up to launch the second variant of its wearable device. And according to Bloomberg’s Mark Gurman, the device might be here by late 2025 or early 2026, bringing significant internal upgrades to boost performance. The new model is expected to feature Apple’s advanced M5 chip, marking a shift from the M2 in the original Vision Pro, which, despite its powerful specs, felt quickly outdated as newer chips were released. <h2>No cheaper Vision Pro? </h2> Initially, Apple had also considered a budget version of the Vision Pro headset, anticipated to retail around $2,000 with scaled-back features. However, recent insights from Apple’s supply chain analysts and insiders suggest that plans for this affordable alternative have been suspended, possibly due to concerns over whether a lower-cost model would create enough demand. Instead, Apple is prioritising premium improvements to the Vision Pro line, with the upcoming headset aimed at providing a highly immersive augmented reality experience. <h2>About Vision Pro 2 </h2> In terms of design, the Vision Pro 2 is expected to closely resemble its predecessor, maintaining the original model’s sleek, high-end look, yet bringing a more powerful experience. Externally, few changes are expected, but the internal shift to the M5 processor will be pivotal for Apple’s AR ambitions, potentially making this one of the most advanced headsets available. Apple’s strategy here is clear: to bridge the gap between regular releases and keep the Vision Pro line competitive. On the software front, Apple is expected to roll out updates like the visionOS 2.2, which introduces new Mac display options in AR. <h2>Apple entering smart glasses market? </h2> On a related note, the Vision Pro 2 doesn’t seem to be the only wearable device that Apple is working on. A couple of days back, reports of Apple working on Meta Ray Ban-like smart glasses had also surfaced. A Bloomberg report had also said that Apple was conducting internal research to develop these smart glasses. The study, led by the company’s Product Systems Quality team, sought employee feedback to understand the potential of smart glasses and their key features. According to the report, this internal survey asked participants to evaluate existing smart glasses available on the market. The feedback collected from these focus groups will reportedly be crucial for Apple as it looks to understand the demand and fine-tune features that could be incorporated into its product. While it’s still early in the process, these developments suggest that Apple is planning to enter the smart glasses market in the next few years, with a product that may directly compete with Meta’s Ray-Ban glasses. If these smart glasses are developed, they could serve as an upgrade to Apple’s existing wearable ecosystem. The glasses would expand Apple’s range, offering a more immersive and interactive experience for users. Given Apple’s reputation for creating seamless and integrated experiences, these smart glasses could become an essential part of its growing wearable portfolio.

Apple could launch Vision Pro 2 in 2025, shelves plans for a cheaper Vision Pro: Report

<ul class="summary-list"><li>Pandemic-fueled inflation seems to be spurring voters to kick out leaders.</li><li>Incumbent governments have been punished in Britain, France, India, Japan, South Korea, and elsewhere.</li></ul>From London to Tokyo, Seoul to Cape Town, 2024 has been a year of sharp election swings. Now you can add Washington D.C. to the list.Donald Trump soundly beat Democrat VP Kamala Harris in the US election, faring better than in 2020 in virtually every part of the country and with nearly all demographic groups. The near-universal shift away from Democrats echoes voters' <a target="_blank" class="" href="https://www.businessinsider.com/voters-world-elections-against-ruling-parties-analysis-2024-7">rejection of incumbent political parties</a> across the world this year.The US vice president's late substitution for Biden as the Democratic candidate, and her decision to embrace his policies instead of distancing herself from them, meant she <a target="_blank" class="" href="https://www.businessinsider.com/harris-lost-biden-unpopularity-trump-election-2024-11">effectively ran as an incumbent</a>.In contrast, Trump's defeat in the 2020 presidential election race enabled him to run as a "change candidate" this cycle and promise to disrupt the status quo.<h2 id="4f519aa6-7d08-4663-8d7f-8e62f03fcb58">Voter backlash</h2>Analysts have <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-analysis-harris-immigration-abortion-economy-musk-2024-11">proposed many theories</a> as to why Harris lost, ranging from her gender and race, to her failure to reach out to <a target="_blank" class="" href="https://www.businessinsider.com/election-musk-cuban-trump-meme-stocks-gamestop-dogecoin-crypto-markets-2024-11">young men</a>, to her support of Israel's war with Gaza, to her campaign focusing too much on reproductive rights and preserving democracy and too little on immigration and the economy.But from a global perspective, it's little surprise she lost given how many incumbent governments on both the right and the left have received a drubbing this year. Here are just a few of them:<ul><li>Britain's Labour Party <a target="_blank" class="" href="https://www.businessinsider.com/uk-labour-party-back-in-power-rishi-sunak-concede-defeat-2024-7">ousted</a> the Conservative Party, or Tories, this summer.</li><li>France's National Rally party <a target="_blank" class="" href="https://www.businessinsider.com/france-elections-far-right-macron-le-pen-bardella-2024-6">secured</a> more seats in the country's assembly than in 2022.</li><li>Japan's Liberal Democratic Party <a target="_blank" class="" href="https://www.businessinsider.com/japan-prime-minister-shigeru-ishiba-shake-up-us-military-pact-2024-9">ceded</a> its parliamentary majority this fall.</li><li>Indian Prime Minister Narendra Modi <a target="_blank" class="" href="https://www.businessinsider.com/indian-election-results-shocking-blow-narendra-modi-2024-6">lost</a> his majority against expectations, forcing him to form a coalition government.</li><li>South Korea's Democrat Party snagged a majority in the country's legislature.</li><li>South Africa's African National Congress (ANC) party lost its majority.</li></ul>Moreover, the incumbent US party has now lost three consecutive presidential elections for the first time in more than a century, Jim Reid, a research strategist at Deutsche Bank, said in a note this week.<h2 id="0e2b6ba9-92e6-4498-aadc-0fbc022d984f">Paying the price</h2><a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/investing/what-is-inflation">Inflation</a> has been a key driver of the voter backlash. Prices of food, fuel, housing, and other essentials took off during the pandemic as governments spent heavily and lockdowns snarled global supply chains. In the US, inflation hit a 40-year high of more than 9% in early 2022 and was still above the Federal Reserve's 2% target this September."Trump's victory is the most powerful example this year of a political and economic environment that has been brutal for incumbents around the world and brought home the fact that inflation is political kryptonite," Tina Fordham, an independent strategist and advisor, said in a LinkedIn post this week.A key consequence of inflation has been central banks raising <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/what-is-interest">interest rates</a> to curb spending, hiring, and investing, cooling price growth. The Fed raised its benchmark rate from nearly zero to north of 5% in under 18 months, raising many people's monthly payments on their credit cards, car loans, and mortgages.The central bank made its first cut this September and <a target="_blank" class="" href="https://www.businessinsider.com/federal-reserve-cuts-interest-rates-quarter-point-powell-inflation-election-2024-11">trimmed</a> a second time this week, broadly in line with peers such as the Bank of England and the European Central Bank.Surging prices and steeper interest rates has <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/big-short-michael-burry-jpmorgan-consumer-inflation-rates-banking-crisis-2023-4">squeezed households</a> in the US and many other countries. Voters appear to be fed up with onerous living costs and eager to kick out the leaders they blame for their struggles.Other issues, such as illegal immigration and the wars in Ukraine and the Middle East, have also spurred votes for change.<h2 id="508f4884-4bdf-4651-b7a6-4bb22f9f0fde">Demanding change</h2>In the US, those concerns are so powerful that they've trumped the <a target="_blank" class="" href="https://www.businessinsider.com/economic-outlook-pandemic-stock-market-crash-inflation-recession-rates-ai-2024-2">economic reality</a> of resilient growth, historically low unemployment, declining inflation, falling rates, and a record stock market. In a CNN exit poll, 72% of Americans said they were dissatisfied with the country's direction.Louis Perron, a political consultant author of "Beat the Incumbent: Proven Strategies and Tactics to Win Elections," said in a note this week that elections featuring an incumbent are "foremost a referendum on the incumbent."In Harris' case, he said "it would have probably taken a miracle to overcome the circumstances with respect to inflation and the border."People "can't pay for groceries with Democracy or reproductive rights," he added. "If the mood of the electorate is so sour, people just want to stop the bleeding."Similarly, Deutsche Bank's Reid wrote that voters are disappointed by how slowly their lives are improving amid cooler economic growth.He said they don't buy that incumbents can tackle immigration, some incumbent governments have had scandals, and voters have become "much more willing to change their vote from election to election."

Voters worldwide are angry about higher prices and keep punishing those in power

<ul class="summary-list"><li>European stocks are pricing in a Trump win, Barclays said.</li><li>Exporters have underperformed the broader European market by 15% since spring.</li></ul>With the US election less than two weeks away, European stocks have already been pricing in a Donald Trump victory, according to Barclays.The firm noted that a basket of European exporters — or those companies most vulnerable to tariffs — has underperformed the benchmark European Stoxx 600 by 15% since early spring.Barclays says this is reflective of investors preemptively bracing for Trump's tariff policy, which has been a cornerstone of his presidential-election platform, under the expectation he will win.<div type="image" title="Barclays chart showing how stocks exposed to tariffs have underperformed the broader index" height="1670" width="2136" msid="114514786" hostid="261" sizebytes="87238"></div>"Tariff concerns have been a drag on EU equities' relative performance year-to-date," Barclays analysts led by Emmanuel Cau wrote on Wednesday. "In the event of a full-blown trade war, we could see up to a high single-digit drag on EPS growth with Germany, Italy, Cap Goods, Autos, Beverages, Tech, Chemicals most at risk."Barclays did note that some European firms have relocated production to the US since 2018, which could somewhat limit the impact of Trump's trade policy on the whole market. But it's still worried about the possible side effects."The second-order impact through lower growth and higher inflation (i.e. stagflation) could be more severe, in particular in the case of retaliation and a trade war," Barclays wrote.The US will also feel the impact. The firm forecasts Trump tariffs will be a 3.2% drag on S&amp;P 500 earnings-per-share next year, with the most negative impact affecting materials, discretionary, industrials, technology, and healthcare. Beyond that, retaliatory measures would generate an additional 1.5% hit to forward EPS.The note suggested a possible rebound for Europe's markets if Kamala Harris wins. Her policy would also boost clean and renewables in the region, which have also underperformed on the chances of a Trump win.

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