Posts in category Business Standard
Jewellery retail trade expected to grow at 10-12% in FY24, says ICRA (22-12-2023)
The domestic jewellery retail industry, in value terms, is expected to grow at 10-12 per cent during the current financial year on the back of elevated gold prices, credit rating firm ICRA said in a report.
In the last financial year, the industry had grown by more than 15 per cent.
ICRA said that demand volumes remained stable in the current festive season despite higher prices.
The research firm said organised jewellery retailers are expected to outperform the industry over the medium term, driven by planned retail expansion and tailwinds from the accelerated formalisation of the trade.
After remaining volatile between December 2022 to April 2023, gold prices were relatively stable in the range of Rs 5,600 to Rs 5,700 per gram in the first half of the current fiscal.
This was almost 14 per cent higher as compared to the price levels in the preceding first half.
The rating firm said the elevated price levels supported the revenue expansion of most jewellery retailers in the face
Gretex Share Broking files draft papers with Sebi to raise funds via IPO (22-12-2023)
Gretex Share Broking has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The IPO is a combination of fresh issue of 1.67 crore equity shares and an offer-for-sale (OFS) of 30.96 lakh shares by selling shareholders, according to the draft red herring prospectus (DRHP) filed with Sebi on Friday.
Proceeds from the fresh issue would be used towards working capital requirements and for general corporate purposes.
Mumbai-based Gretex Share Broking is engaged in the business of market making and stock broking, underwriting capital markets issuances and depository participants of NSDL.
Pantomath Capital Advisors is the sole book running lead manager to the issue. Equity shares of the company will be listed on the BSE and NSE.
Polycab slips 5% amid reports of I-T raids at 50 office locations pan-India (22-12-2023)
The residences and offices of the top management linked to the firm were also being raided, the report added
Upping long bond exposure beneficial for Indian investors, says Union AMC (22-12-2023)
The Fed hinted at a pivot in its December policy, and signalled three potential rate cuts totalling 75 bps in 2024
Allcargo Logistics surges 10%, Gati slips 7% on biz restructuring plan (22-12-2023)
As per the approved swap ratio, shareholders of Allcargo Gati will get 63 shares in the resulting Allcargo Logistics entity (post ISC demerger) for every 10 shares held in Allcargo Gati
Tata Motors gains 3% on nod for DVR share conversion; soars 88% in 2023 (22-12-2023)
The stock exchanges have granted the company 'no objection' to the cancellation of Tata Motors DVR shares
Stocks to Watch: Adani Green, LIC, Tata Motors, Zomato, Railtel, Allcargo (22-12-2023)
Stocks to watch on December 22, 2023: The BSE and NSE have approved the cancellation of 'A' ordinary shares (DVR) of Tata Motors
Gold price unchanged at Rs 63,000, silver rises Rs 700 to Rs 79,200 (22-12-2023)
The price of 22-carat gold was also unchanged at Rs 57,750
Nifty Metal weak on charts, Nifty Pharma rangebound: How to trade them? (22-12-2023)
Only a decisive close above 7,616 in Nifty Metal would indicate a potential reversal, opening the door for further upward movement with the next target at 7,740, says Ravi Nathani
Stock Market LIVE: Sensex jumps 350 pts, Nifty at 21,350; Coal India up 3% (22-12-2023)
Stock market Update on Friday December 22: LIC rallied 6 per cent after the govt approved a 10 year extension for the company to meet the 25 per cent minimum public shareholding norms