Key highlights from yesterday.
Gold Hits Record High, Silver Prices Surge On February 10, gold reached an all-time high. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24-carat gold increased by ₹966 to ₹85,665. Previously, gold's highest recorded price was ₹84,699 per 10 grams. Silver also saw an uptick, rising by ₹132 to ₹95,533 per kilogram. The highest-ever price for silver was ₹99,151 per kilogram on October 23, 2024. Analysts predict gold may reach ₹90,000 this year. Eicher Motors Announces Leadership Changes Eicher Motors Limited (EML) has made significant changes to its board. Siddhartha Lal has been appointed as the new Executive Chairman following the retirement of S. Sandilya. Additionally, Vinod Aggarwal has been named Vice Chairman (Non-Executive), and B. Govindarajan has been appointed as Managing Director. Vinod Aggarwal will also continue serving as MD and CEO of VE Commercial Vehicles (VECV), a joint venture between Eicher and Volvo Group, while assuming his new role at Eicher Motors. Nykaa Reports 51% Increase in Q3 Profits

E-commerce giant Nykaa posted a 51.34% year-on-year (YoY) increase in net profit for Q3 FY2024-25, reaching ₹26.41 crore. This marks a significant jump from ₹17.45 crore in the same quarter last year. Nykaa's consolidated revenue from operations also grew by 26.78% YoY, totaling ₹2,267 crore. Over the past year, Nykaa's shares have delivered a 17% return to investors. RBI Cuts Repo Rate, FD Rates May Decline The Reserve Bank of India (RBI) has reduced the repo rate by 0.25%, which may lead to lower loan interest rates in the coming days. However, this move is also likely to result in decreased fixed deposit (FD) interest rates. Currently, major banks in India are offering up to 7.25% interest on FDs, making now a good time for investors looking to secure high returns. Rupee Falls to Record Low Against Dollar On February 10, the Indian rupee dropped to a record-low exchange rate of 87.94 per US dollar, declining by 44 paise from its previous close at 87.50. Experts attribute this drop to increased selling by foreign investors in the Indian stock market and ongoing geopolitical tensions, which have put further pressure on the currency. What to Watch Today Stay tuned for more updates!Original Article