Market Bizzz

Zomato experienced a 57% decline in its December quarter net profit, reporting Rs 59 crore. Despite a 64% rise in revenue, there was a notable slowdown in food delivery. Analysts are mixed on the stock, with target prices ranging from Rs 130 to Rs 375.

Mithun Sacheti of Caratlane and Arpit Khandelwal of Plutus Wealth Management have invested Rs 495 crore in Nazara Technologies, acquiring a 5.4% stake. The funds will be used for strategic acquisitions, highlighting the company’s bullish growth projections for FY26 and beyond. The existing promoters will continue managing, with Sacheti and Khandelwal as deemed co-promoters.

Oil prices fell in Asian trading after President Trump announced plans to increase U.S. oil and gas production. He also delayed new tariffs on imports from Canada and Mexico. Trump said he was considering stopping oil purchases from Venezuela and promised to refill strategic reserves, potentially increasing demand for U.S. crude oil.

In the current high-volatility market, adopting a conservative investment strategy is crucial. Investors should steer clear of high beta stocks, which tend to be more volatile and risky.

Melania Trump launches her own cryptocurrency, $MELANIA, following President-elect Donald Trump’s introduction of $TRUMP. The $MELANIA token witnesses a 70% surge within hours, trading at $12.31 and achieving a market capitalization exceeding $12 billion. Users can purchase the token via credit card or cryptocurrency SOL on the official website.

Wipro reported a 24% rise in consolidated net profit for Q3 FY25, reaching Rs 3,354 crore, with revenue marginally up by 0.5%. Analysts offer mixed ratings; the company’s strong performance in healthcare and high deal bookings stand out despite seasonal challenges.

In 2024, India’s ultra-high-net-worth investors showcased resilience, innovation, and adaptability, navigating equity, private markets, and global diversification. Key trends included robust equity market confidence, growth in private credit and equity, and the rise of single-family offices (SFOs). Technology-driven wealth management, alongside increasing interest in sustainability, ESG, and international investments, is expected to shape the investment landscape in 2025.

Bitcoin reaches $100,000 as anticipation grows for pro-crypto actions promised by incoming President Donald Trump. His commitment includes creating a U.S. crypto stockpile, implementing favorable regulations, and appointing a cryptocurrency advisor, while Bitcoin supporters prepare for celebration at a ‘Crypto Ball’.