With shares of most companies listed this year slipping below their issue prices and two initial public offerings (IPOs) already withdrawn, the scenario has remained challenging for the primary market.
Stocks of gold jewellery retailers have been able to retain their sheen in 2023 despite volatile gold prices. Kalyan Jewellers, Titan, PC Jewellers, Thangamayil Jewellery, and Tribhovandas Bhimji Zaveri (TBZ) have rallied 21-72 per cent so far since April as compared to a 13 per cent gain in the benchmark Sensex index. The rally gained steam on the back of gold's 6 per cen
Totally 13 global brands were surveyed by NGO on whether they ensured human right protection while sourcing when gold and diamonds
Analysts expect more downside in this sector, with Titan still the preferred bet.
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Sluggish economy, high bullion prices and consumer shift towards cheaper gifting options such as electronic goods and mobiles have taken the sheen off gold
Shares of jewellery makers on Monday fell sharply by up to 20 per cent following dip in global prices of gold.
More, many market gurus expect the Sensex to reach 30,000 levels by December and 40,000-45,000 in three to four years.
Gold was Rs 28,100 per 10 gm on July 26, 2014.
The moves by the RBI, announced late on Wednesday, should increase supplies of gold and brighten the earnings outlook for jewellery makers after the government took tough measures to curb imports last year, analysts said.
Precious ornaments are estimated to become 3% costlier under GST
The 80:20 rule mandates importers to channel at least 20% of the import quantity for jewellery exports.
Jewellers initially feared the ban applied on them, too. However, after discontinuing their monthly schemes for almost two weeks, they've started accepting deposits again.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Here's why consumers are shifting to large brands.
But the 30-share Sensex rose by 141.52 points, or 0.41 per cent, to close at 34,297.47. The broader NSE Nifty gained 44.60- points, or 0.42 per cent, to end at 10,545.50 after touching a high of 10,618.10.
The possibility of the slowdown affecting more players is greater if the industry doesn't get access to easier finance in the next six to eight months.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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Designer Pria Kataaria Puri held back-to-back showings over the weekend, putting on display a tantalising array of bridalwear and red carpet specials alongside jewellery by TBZ Nirmal Zaveri and Gitanjali Jewels. Check it out.
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The iconinc Zaveri Bazaar in south Mumbai does business of around Rs 3 trillion a year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The problem is actually acute in the diamond jewellery industry where there is no uniform criteria of inventory valuation unlike gold, whose prices are uniform and widely quoted.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
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