Sharp rupee fall, interest differential on export finance rates may have led to arbitrage in gold.
Gold ($1,895 an ounce) superseded platinum ($1,872 an ounce) for the first time on September 5, 2011, due to rising investment demand of the yellow metal as a hedge against the global economic uncertainty.
Welspun Maxsteel, wholly owned subsidiary of the $3-billion Welspun Group, has kept its proposed steel factory plan in Maharashtra on hold due to the shortage of raw material and energy. The delay in environment clearances has also forced the company to keep the project in abeyance for now.
After China removed India from the list of its oilmeal importing countries from January 1, Vietnam has laid down impossible phytosanitary regulations for Indian exporters, thereby threatening one of the largest agri-commodities export markets in India. Vietnam may suspend the import of agri-commodities from India.
Earlier expectations of gold imports touching 1,000 tonnes in 2011 have been belied, with a steep fall in imports in recent months.
Gold price is likely to remain sideways this week due to uncertainty in global economy. The metal, of late, has started losing its status as safe haven investment avenue at the time of global economic crisis.
The board has decided to expand into all financial services for the rural population. SKS would, however, continue to be a strong player in the microfinance business. Financial inclusion would continue to be in the centre of our activities.
Sebi panel to revisit norms for IPOs, mutual funds.
Customers asked to pay the yellow metal rate on the day of delivery instead of booking date.
Foreign institutional investors (FIIs) have returned with a bang. Over the last seven trading sessions, they have pumped in close to $2 billion into Indian equities. Most market players expect this to continue as they see macro headwinds easing.
Domestic institutional shareholders, who together hold around 39 per cent stake in the National Stock Exchange, are unhappy with the exchange's strategy of not charging transaction fees in the currency derivative segment.
Trend may slow down the growth in investment demand of the yellow metal in the short term.
"To support our massive retail activities, we plan to have our own textile brands - three women's wear brands, one men's wear and one kid's wear - in the next six months," says Deepak Tulsian, vice president, retail, of Gitanjali Gems.
While stock exchanges worldwide are consolidating, not much action is happening in India due to the cap on equity holding in stock exchanges.
The Madras High Court order for closure of over 700 dyeing and knitting units in Tirupur may trigger huge loan defaults. Repayment of loans worth about Rs 20,000 crore would be hit if operations came to a halt, said Tirupur Exporters Association President A Sakthivel.
In December 2010, Mumbai-based Narsee Monjee Institute of Management Studies received an A*** grading by credit rating agency Crisil.
The government is considering a common appellate authority for insurance and all instruments traded on the stock or commodity exchanges. This comes after the formation of the Financial Stability Development Council, a statutory body to coordinate the functioning of financial market regulators.
Gold coins are selling at a Rs 100 per 10 gram premium since Guru Pushya Nakshatra, one of the most auspicious occasions for buying precious metals in western Indian states.
Due to less supply and rising demand from American and Asian markets on the back of economic recovery, the prices of rough diamonds ('roughs') have risen 50 per cent since July.
Jewellery retailers witnessed a 20 per cent increase in the sale of ornaments during the last fortnight. The rise was due to more consumer footfalls following a 1.6 per cent correction in prices.
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