Latest news with #AnujGupta
Mint
8 hours ago
- Business
- Mint
Is Bitcoin competing against gold as safe haven bet amid Trump's tariff uncertainty? EXPLAINED
Bitcoin surged to all-time record on Thursday, moving past $118,000 and even crossing the $119,000 mark on Friday, before settling at $118,780. This sharp rise comes as global stock markets decline, driven by trade and tariff tensions sparked by US President Donald Trump's tariff notices to over 20 countries. The rally also marks the end of a two-month lull in the cryptocurrency market, with Ether rising above $3,000 for the first time since February. ' The milestone comes amid growing allocations into bitcoin from institutional & corporate treasuries. They are accumulating bitcoin aggressively. Strategy Inc & GameStop Corp, have joined the ranks, announcing board‑approved Bitcoin purchases. Now bitcoin looks like a safe haven asset like gold against the market uncertainity, like war, trade tariffs & political unstability,' said Anuj Gupta, Director, Ya Wealth Research & Advisory. Gold vs Bitcoin Sugandha Sachdeva- Founder-SS WealthStreet, believes that Bitcoin is increasingly earning the moniker 'digital gold' because, like the yellow metal, it tends to attract capital whenever traditional risk assets wobble. Risk appetite faltered, but Bitcoin after an initial dip to $74,420 rebounded sharply, surging to a record $112,000 in May and still hovering near $111,150. That's a 49 per cent advance off its April low, far outpacing gold's 12 per cent rise from its April trough of $2,956. ' With the US dollar retreating against major currencies, investors have migrated toward scarce, non-yielding stores of value. Both gold and Bitcoin benefit, but Bitcoin's thinner market depth magnifies price swings on incremental flows. Further, Bitcoin's fixed 21 million-coin supply shields it from the kind of balance-sheet expansion that debases fiat currencies an attribute that resonates as global sovereign debt scales fresh highs. However, the key difference is that central banks continue to diversify into gold, reinforcing its safe-haven pedigree. By contrast, official adoption of Bitcoin remains tentative, suggesting sovereign demand could be a future, rather than current, driver of flows,' Sachdeva said. The post-tariff rally underscores that Bitcoin, despite its higher volatility, is starting to mirror gold's role as a refuge when policy shocks rattle conventional markets. As long as debt overhangs grow and the dollar stays soft, the search for debasement-resistant assets should keep Bitcoin in demand alongside bullion, she added. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
2 days ago
- Business
- Time of India
Glenmark Pharma shares rally 14% on AbbVie boost; analysts hike targets to Rs 2,800
Glenmark Pharmaceuticals ' 14% jump on Friday may still have a further 29% upside, as the stock finds itself in a sweet spot on technical charts, according to multiple market experts. They recommend a 'buy on dips' strategy, with a price target of up to Rs 2,800. The stock surged 20% in early trade to hit a lifetime high of Rs 2,284.80, before paring some gains as the session progressed. The rally was triggered after the company announced that its step-down, wholly owned subsidiary, Ichnos Glenmark Innovation (IGI), had signed an exclusive global licensing agreement with US-based AbbVie for its experimental cancer drug, ISB 2001. Commenting on the price action, Anuj Gupta, Director at Ya Wealth Global Research, said the stock appears poised for a continued rally. 'Strong technical structure supported by substantial volumes bodes well for further upside. We expect it to rise further, especially as the Trump tariff stance on pharma is seen as positive for US-based pharmaceutical brands,' he said. Live Events Gupta added that Glenmark has a significant presence in the US pharmaceutical market. In his view, Glenmark Pharma shares may test levels of Rs 2,600 to Rs 2,800 in the short term, implying a potential upside of 29% from the current level of Rs 2,172.80. He sees strong support at Rs 1,800 and recommends a buy-on-dips strategy. Nilesh Jain, Vice President – Equity Research (Technical and Derivatives) at Centrum Broking, echoed a similar sentiment, noting that the stock's structure remains positive on charts despite Friday's sharp rally. While he does not currently see an ideal risk-to-reward setup, he believes a near-term target of Rs 2,200 is achievable. The stock has emerged from a breakaway gap, Jain added — a technical pattern marked by a breakout accompanied by a wide price gap, often signaling the start of a strong uptrend. According to him, Rs 2,100 would be a more favourable level to enter the stock. Meanwhile, brokerage Motilal Oswal sees a 28% upside from Thursday's closing price of Rs 1,904 and has reiterated its 'Buy' rating on Glenmark Pharma. 'We assign a 27x 12-month forward earnings multiple to arrive at a sum-of-the-parts (SOTP) valuation of Rs 2,430,' the brokerage said, adding that the AbbVie deal signals a new era for the company. About ISB 2001 ISB 2001, currently in Phase 1 clinical trials for relapsed or refractory multiple myeloma, will be jointly developed under the agreement. AbbVie will hold exclusive rights to develop, manufacture, and commercialise the drug in North America, Europe, Japan, and China. Glenmark will retain rights for emerging markets, including Asia (excluding Japan and China), Latin America, Russia/CIS, the Middle East, Africa, Australia, New Zealand, and South Korea. Under the agreement, IGI Therapeutics SA — a subsidiary of Ichnos Glenmark Innovation — will receive a $700 million upfront payment and is eligible for up to $1.225 billion in milestone payments, along with tiered, double-digit royalties on net sales. The US FDA granted ISB 2001 orphan drug designation in July 2023 and fast-track status in May 2025 for treating relapsed or refractory multiple myeloma. 'Multispecifics like trispecific antibodies represent a new frontier in immuno-oncology,' said Roopal Thakkar, EVP and CSO at AbbVie. 'This partnership reflects our commitment to advancing novel therapies for patients with multiple myeloma, where unmet needs remain.' Cyril Konto, MD, President and CEO of IGI, added: 'This agreement marks a defining milestone in IGI's journey. Our partnership with AbbVie accelerates ISB 2001's path to patients and strengthens our focus on the next generation of BEAT®-enabled assets.'
Economic Times
2 days ago
- Business
- Economic Times
Glenmark Pharma shares rally 14% on AbbVie boost; analysts hike targets to Rs 2,800
Glenmark Pharmaceuticals' 14% jump on Friday may still have a further 29% upside, as the stock finds itself in a sweet spot on technical charts, according to multiple market experts. They recommend a 'buy on dips' strategy, with a price target of up to Rs 2,800. ADVERTISEMENT The stock surged 20% in early trade to hit a lifetime high of Rs 2,284.80, before paring some gains as the session progressed. The rally was triggered after the company announced that its step-down, wholly owned subsidiary, Ichnos Glenmark Innovation (IGI), had signed an exclusive global licensing agreement with US-based AbbVie for its experimental cancer drug, ISB 2001. Commenting on the price action, Anuj Gupta, Director at Ya Wealth Global Research, said the stock appears poised for a continued rally.'Strong technical structure supported by substantial volumes bodes well for further upside. We expect it to rise further, especially as the Trump tariff stance on pharma is seen as positive for US-based pharmaceutical brands,' he added that Glenmark has a significant presence in the US pharmaceutical market. ADVERTISEMENT In his view, Glenmark Pharma shares may test levels of Rs 2,600 to Rs 2,800 in the short term, implying a potential upside of 29% from the current level of Rs 2,172.80. He sees strong support at Rs 1,800 and recommends a buy-on-dips Jain, Vice President – Equity Research (Technical and Derivatives) at Centrum Broking, echoed a similar sentiment, noting that the stock's structure remains positive on charts despite Friday's sharp rally. While he does not currently see an ideal risk-to-reward setup, he believes a near-term target of Rs 2,200 is achievable. ADVERTISEMENT The stock has emerged from a breakaway gap, Jain added — a technical pattern marked by a breakout accompanied by a wide price gap, often signaling the start of a strong uptrend. According to him, Rs 2,100 would be a more favourable level to enter the brokerage Motilal Oswal sees a 28% upside from Thursday's closing price of Rs 1,904 and has reiterated its 'Buy' rating on Glenmark Pharma. 'We assign a 27x 12-month forward earnings multiple to arrive at a sum-of-the-parts (SOTP) valuation of Rs 2,430,' the brokerage said, adding that the AbbVie deal signals a new era for the company. ADVERTISEMENT About ISB 2001 ISB 2001, currently in Phase 1 clinical trials for relapsed or refractory multiple myeloma, will be jointly developed under the agreement. AbbVie will hold exclusive rights to develop, manufacture, and commercialise the drug in North America, Europe, Japan, and China. Glenmark will retain rights for emerging markets, including Asia (excluding Japan and China), Latin America, Russia/CIS, the Middle East, Africa, Australia, New Zealand, and South the agreement, IGI Therapeutics SA — a subsidiary of Ichnos Glenmark Innovation — will receive a $700 million upfront payment and is eligible for up to $1.225 billion in milestone payments, along with tiered, double-digit royalties on net US FDA granted ISB 2001 orphan drug designation in July 2023 and fast-track status in May 2025 for treating relapsed or refractory multiple myeloma. ADVERTISEMENT 'Multispecifics like trispecific antibodies represent a new frontier in immuno-oncology,' said Roopal Thakkar, EVP and CSO at AbbVie. 'This partnership reflects our commitment to advancing novel therapies for patients with multiple myeloma, where unmet needs remain.'Cyril Konto, MD, President and CEO of IGI, added:'This agreement marks a defining milestone in IGI's journey. Our partnership with AbbVie accelerates ISB 2001's path to patients and strengthens our focus on the next generation of BEAT®-enabled assets.' (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Business Wire
01-07-2025
- Automotive
- Business Wire
Hayden AI Powers Major Expansion of Automated Bus Lane and Bus Stop Enforcement Across Southern California
SAN FRANCISCO--(BUSINESS WIRE)--Starting today, two more Southern California cities—Santa Monica and West Hollywood—will deploy Hayden AI's game-changing automated transit enforcement platform. This innovative technology will tackle the growing issue of illegally parked vehicles obstructing bus lanes and bus stops, making public transit safer, more efficient, and more reliable for millions of LA-area commuters. The cities join the Los Angeles County Metropolitan Transportation Authority (Metro) and Culver City in using Hayden AI 's industry leading solution to revolutionize how public transportation is delivered. The new enforcement begins with a 60-day warning period for Santa Monica's Big Blue Bus and Los Angeles Metro buses serving Line 212 in West Hollywood, with full enforcement starting September 1, 2025. 'Santa Monica and West Hollywood are leading the way in adopting transformative technology to make public transportation safer and more reliable,' said Charley Territo, Chief Growth Officer of Hayden AI. 'Our bus-mounted camera platform is helping cities across Southern California eliminate obstacles to smoother bus operations. We're proud to bring these benefits to Big Blue Bus and Metro riders in West Hollywood, helping to keep their routes clear and their commutes hassle-free.' For Santa Monica's Big Blue Bus, this rollout follows the success of a 2023 pilot program where Hayden AI technology was tested on two buses. The results were eye-opening: 7.7 violations per bus per day, amounting to 606 violations over just 45 days. This highlighted the urgent need for automated enforcement, especially as research has shown that keeping bus lanes clear can speed up bus travel times by 20-28% during peak hours, improving rider satisfaction and even boosting ridership by 2-9%. ' The implementation of automated enforcement advances Big Blue Bus's commitment to providing equitable access to efficient and reliable transportation and supports Santa Monica's broader strategic priority of clean streets and safe neighborhoods. Bus lane disruption disproportionately impacts individuals who rely on public transportation, particularly seniors, students, persons with disabilities, and those with limited access to private vehicles,' says Santa Monica's Director of Transportation, Anuj Gupta. 'Even a single vehicle blocking a bus lane can lead to significant delays, missed connections, and frustration for riders who depend on our service. By ensuring bus lanes remain clear, we enhance the efficiency of our multimodal transportation network and keep Santa Monica's residents and visitors moving safely, efficiently, and comfortably.' Hayden AI 's platform utilizes artificial intelligence in bus-mounted cameras to detect and record illegal parking violations that obstruct bus lanes, bus stops, bike lanes, and double parking. The technology is already in use across major U.S. cities, including New York City, Washington DC, Philadelphia, Oakland, and Sacramento, proving its effectiveness in reducing transit blockages and making public transportation smoother. With this expanded deployment in Southern California, Hayden AI continues to set the standard for transit zone enforcement, pushing cities toward more efficient, equitable, and sustainable public transportation networks.
Time of India
17-06-2025
- Business
- Time of India
Gold-silver rate today: Silver hits record Rs 1,07,425/kg on China demand, gold drops Rs 1,200/10g amid profit booking
Gold-Silver rate today : Silver futures surged to an all-time high of Rs 1,07,425 per kg on Tuesday, tracking strong global cues and optimism over rising industrial demand after better-than-expected retail data from China. In contrast, gold prices corrected sharply by Rs 1,200 amid profit-taking. On the Multi Commodity Exchange (MCX), July silver contracts rose Rs 860 or 0.80%, while on COMEX, silver gained $0.13 or 0.36% to trade around $36.64 per troy ounce, according to an ET report. 'China's May retail sales boosted the prospects of silver today,' said Anuj Gupta, Head – Commodity & Currency, HDFC Securities. He noted silver's performance in 2025 has yielded strong investor returns, with year-to-date gains of Rs 20,254 per kg (23%) and month-to-date gains of Rs 10,473 per kg (11%). Silver is now consolidating in the Rs 1,06,000–1,07,000 range and may rise further. 'If this momentum continues, silver could test Rs 1,11,000 per kg ($38),' said Renisha Chainani, Head of Research at Augmont. She pegged support at Rs 1,05,000 and resistance at Rs 1,11,000. Jateen Trivedi, VP – Commodity Research at LKP Securities, said geopolitical uncertainty and tariff-driven inflationary pressures would continue to support precious metals, adding that 'gold's haven appeal is also set to strengthen amid rising West Asia tensions.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Godrej Majesty | Luxurious 3 & 4 BHK Homes at ₹2.39 Cr* Godrej Majesty Learn More Undo Meanwhile, Gold prices dropped sharply in the national capital on Tuesday, falling Rs 1,200 to Rs 1,00,170 per 10g, as global cues turned weak and traders booked profits amid Israel Iran tensions. According to the All India Sarafa Association, gold of 99.9% purity fell from Monday's closing rate of Rs 1,01,370. Gold of 99.5% purity declined Rs 1,100 to Rs 99,450 per 10g, slipping below the Rs 1 lakh mark. 'Gold corrected further on Tuesday as traders reevaluated the likelihood of a full-scale regional war between Israel and Iran. Reports suggest Iran is actively pursuing a diplomatic solution,' said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities. Spot gold was trading at $3,380.65 per ounce in global markets. Analysts said prices softened as investors locked in recent gains and awaited cues from the US Federal Reserve's upcoming policy decision. 'Gold is trading negative despite the escalation in the Middle East. The precious metal saw profit-taking at higher levels,' said Rahul Kalantri, Vice-President – Commodities at Mehta Equities, quoted PTI. Kalantri noted that silver retreated from day's highs ahead of the Fed's policy announcement, but underlying uncertainty and geopolitical risks could keep prices supported. Chintan Mehta, CEO of Abans Financial Services, said investors are also tracking key US macroeconomic indicators — including May's retail sales and industrial production data — to gauge the strength of the economy. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
