Bitcoin surged past the $111,000 mark for the first time on Thursday, reaching a new all-time high and kindling optimism for a sustained bull market. Early trading in London saw Bitcoin peak at $111,886.41, as reported by Coin Metrics, before stabilizing at approximately $111,083.67 by 1:01 PM London time.

However, analysts caution that there may be challenges ahead for this rally.

The price increase aligns with broader market trends, as Bitcoin spot ETFs have received over $2 billion in inflows across the last ten sessions. Furthermore, Moody’s recent downgrade of the U.S. sovereign credit rating has heightened interest in Bitcoin and Ethereum as alternatives to fiat currency.

With over 53% gains this year, Bitcoin is now outperforming traditional assets like gold and the S&P 500, even surpassing Amazon to become the fifth-largest asset globally, boasting a market cap of over $2.2 trillion. Traders are increasingly optimistic, with some predicting Bitcoin could reach $300,000 by June, potentially elevating its market cap to $6 trillion.

May 22 also marks Bitcoin Pizza Day, the anniversary of the first real-world Bitcoin transaction, which involved the purchase of two pizzas for 10,000 BTC in 2010. This year’s celebration carries added significance, coinciding with Bitcoin’s remarkable rise to $111,000 (approximately ₹94.8 lakh).

Patanjali Foods showcased strong performance in the recent quarter, achieving a record revenue from operations of ₹9,692.21 crore and an EBITDA of ₹568.88 crore, alongside an EBITDA margin from operations of 5.87%, as noted in the company’s regulatory filing.

The fast-moving consumer goods (FMCG) company reported a profit of ₹358.5 crore in the fourth quarter of the last financial year, a significant increase from ₹206.3 crore during the same period last year, representing a 74% rise.

Gross Profit rose to ₹1,656.39 crore compared to ₹1,206.92 crore year-over-year, primarily due to a favorable pricing environment.

The Gross Profit Margin for Q4 FY25 improved to 17.00%, an increase of 254 basis points, while profit after tax (PAT) jumped 73.78% on a year-over-year basis, with the margin enhancing by 121 basis points to 3.68%.

The Food & Other FMCG segment accounted for 23.14% of Revenue from Operations (excluding intersegment revenue) in Q4 FY25, contributing 24.77% annually, aligning with the company’s strategic goals.

The edible oil segment recorded quarterly sales of ₹6,764.07 crore, reflecting a growth of 20.90% compared to the previous year.

Additionally, the firm declared a final dividend of ₹2 per share with a face value of ₹2 each, and an interim dividend of ₹8 each. The total payout to eligible shareholders is estimated to be around ₹72.4 crore. Retail investors holding up to a 5.28% stake are expected to receive a total of up to ₹3.8 crore.

Adani Group has announced a consolidated EBITDA of ₹89,806 crore for the financial year 2025. This growth is attributed to advancements in core infrastructure sectors and increased operating cash flows across its portfolio.
EBITDA saw an increase of 8.2% compared to the ₹82,976 crore reported by the group’s listed companies in FY24, according to Adani’s statement.

Notably, Adani’s core infrastructure businesses accounted for 82% of total EBITDA. Within the utility segment, Adani Green Energy enhanced its operational capacity by 30% year-on-year, while Adani Power experienced a 20% boost in electricity generation.

The conglomerate reached a capital expenditure peak of ₹1.26 trillion and plans to invest $100 billion over the next six years. “These investments will underscore the group’s commitment to developing long-term infrastructure assets, including renewable energy projects, transmission networks, ports, and a new copper smelter facility,” the company stated.

Jugeshinder ‘Robbie’ Singh, CFO of Adani Group, remarked, “A significant highlight of FY25 is our continued industry-leading Return on Assets of 16.5%, one of the highest in the global infrastructure sector. This demonstrates our strong asset base and the execution capabilities of the Adani portfolio in delivering high-quality assets across various subsectors.”

He also noted, “We have implemented various governance and ESG initiatives, including a Tax Transparency report released by all portfolio companies, alongside other measures taken over recent years, resulting in industry-leading ESG scores as recognized by international rating agencies.”

Adani’s net debt-to-EBITDA ratio improved to 2.6x, down from 3.8x in FY19. The group maintains healthy liquidity, with a reported cash balance of ₹53,843 crore ($6.3 billion), equating to approximately 18.5% of gross debt.