The benchmark S&P/ASX 200 rose 0.40 percent to 7,982.40 after two days of declines. The broader All Ordinaries index inched up 0.38 percent to 8,187.70.

Jewellery retail chain P N Gadgil Jewellers Ltd on Thursday fixed a price band of Rs 456-480 per share for its Rs 1,100-crore initial share sale and proceeds will be used for expansion plans and pare debt.
The Initial Public Offering (IPO) will open for public subscription on September 10 and conclude on September 12 and the bidding for anchor investors will open for a day on September 9, the company announced.
The Maharashtra-based company’s IPO is a combination of a fresh issue of equity shares worth up to Rs 850 crore and an offer for sale (OFS) of equity shares to the tune of Rs 250 crore by promoter SVG Business Trust.
At present, SVG Business Trust holds a 99.9 per cent stake in P N Gadgil Jewellers.
Brokerage houses have pegged the company’s market capitalisation at over Rs 6,500 crore post-issue.
Of the fresh issue proceeds, around Rs 393 crore will be utilised for the funding of expenditure towards setting up 12 new stores in Maharashtra, Rs 300 crore for payment of debt,

Malabar Gold & Diamonds, the world’s sixth-largest jewellery retailer, on Thursday announced plans to launch 20 new showrooms in October as part of its global expansion strategy.
The company will open three new showrooms in Uttar Pradesh, while two each in Delhi, Maharashtra, Karnataka, and Rajasthan and one new showroom each in Odisha, Telangana, West Bengal and Punjab.
New showrooms will also be opened in Muwaileh in Sharjah; Muaither in Qatar; and Nakheel Mall in Saudi Arabia, as well as North America.
“Opening 20 new showrooms in October aligns with our vision to become the world’s leading retail jeweller. Our expansion plan focuses on sustainable and responsible growth that not only drives our business forward but also benefits society,” Malabar Group Chairman M P Ahammed said, in a statement.
The new showrooms will offer a diverse range of traditional and contemporary jewellery collections, coupled with a personalized shopping experience.
Malabar Gold currently operates 355

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