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<ul><li>Tanishq, Malabar Gold &amp; Diamonds, Kalyan Jewellers and Titan are selling gold online. </li><li>The Indian government<a href="https://www.timesnownews.com/business-economy/personal-finance/article/want-to-buy-gold-on-akshaya-tritiya-amid-lockdown-heres-how-you-can-buy-the-yellow-metal-online/582229"> recently launched the first tranche of Sovereign Gold Bond</a> Scheme for the current fiscal year. </li><li>Fintech companies like PhonePe and Paytm are also selling both 24 carat physical and digital <keyword id="9113829" type="UNKNOWN" weightage="20" keywordseo="gold-during-lockdown">gold during lockdown</keyword>. </li><li>If you are looking to purchase diamonds, Irasva, a jewellery store is offering a flat 20% off across its jewellery collection. </li></ul>With all the non-essential stores closed in India, many people are looking at digital options to buy gold on the auspicious day of Akshaya Tritiya. Usually, about 20-25 tonnes of gold is sold on this occasion — which is around 4% of India’s annual gold consumption. But, this year people can’t go to physical stores to buy gold due to the Coronavirus lockdown. And, jewellers are providing options to purchase gold in various forms be it coins or jewellery - and receive the delivery after lockdown lifts. This is in addition to digital options. Online gold shopping with Tanishq, Kalyan Jewellers and Malabar Gold &amp; Diamonds Jewellery brand Tanishq w<a href="https://www.tanishq.co.in/">ill be selling gold online through its e-commerce platform.</a> . In addition to the online option, Titan also announced a sale between April 18 and 27. Kalyan Jewellers too allows customers to buy gold which will be shipped after the lockdown."What makes this unique is that upon order confirmation, customers will receive this certificate via email or Whatsapp on the day of Akshaya Tritiya," Kalyan Jewellers managing director T S Kalyanaraman told PTI. Malabar Gold &amp; Diamonds is also offering an option to purchase gold online. If you are looking to purchase diamonds instead, Irasva, a jewellery store is offering a flat 20% off across its jewellery collection. Buying gold through PhonePe and Paytm Fintech companies like PhonePe and Paytm are also selling both 24 carat physical and digital gold during the lockdown. Both of them have partnered with Metals and Minerals Trading Corporation of India (MMTP) and SA Produits Artistiques Métaux Précieux (PAMP). The physical gold purchased during lockdown will be kept in locker facilities and delivered after lockdown ends. Purchase <keyword id="743230" type="PERSON" weightage="20" keywordseo="e-gold">e-gold</keyword> in the form of sovereign gold bonds The Indian government<a href="https://www.timesnownews.com/business-economy/personal-finance/article/want-to-buy-gold-on-akshaya-tritiya-amid-lockdown-heres-how-you-can-buy-the-yellow-metal-online/582229"> recently launched the first tranche of Sovereign Gold Bond</a> Scheme for the current fiscal year. Under the scheme, people can buy e-gold at ₹4,639 per gram. The last date to subscribe for the scheme is April 24. Gold bonds and ETFs which are also referred to as e-gold, is basically purchasing gold on paper. Its prices vary according to the value of gold in the international markets. See Also - <a href="https://www.businessinsider.in/india/article/everything-you-must-know-about-akshaya-tritiya-date-puja-timing-puja-vidhi-benefits/articleshow/75353768.cms">Akshaya Tritiya puja timing and puja vidhi</a> <a href="https://www.businessinsider.in/india/article/why-people-buy-gold-on-akshaya-tritiya/articleshow/75353565.cms">Why people buy gold on Akshaya Tritiya</a>

Here’s how and where you can buy gold online for Akshaya Tritiya during the lockdown

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged up in morning trade on Monday despite mixed cues in global markets. </li><li>The gains were led by banking and realty stocks, while pharma, IT and media stocks declined. </li><li><keyword id="6484187" type="General" weightage="20" keywordseo="ril" source="Orion">RIL</keyword>, <keyword id="6653" type="General" weightage="80" keywordseo="icici-bank" source="Orion">ICICI Bank</keyword>, <keyword id="44883" type="General" weightage="80" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> and <keyword id="10862" type="General" weightage="80" keywordseo="wipro" source="Orion">Wipro</keyword> are amongst stocks in news today. </li></ul>India’s benchmark indices Sensex and Nifty50 edged up in morning trade on Monday despite mixed cues in global markets. The gains were led by banking and realty stocks, while pharma, IT and media stocks declined. SGX <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>, an early indicator of how the markets may perform, was up 0.35% or 62 points early in the morning today. Both the benchmark indices were up 0.04% in morning trade, with Sensex at 59,656 points and Nifty50 at 17,626 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.88% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.10% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.77% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddy's Laboratories </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.77% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.38% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.03% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.59% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.94% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.25% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.92% </td></tr></tbody></table> Source: NSE, as on April 24, 2023 Earlier last week, Sensex and Nifty50 closed on a mixed note – while Sensex gained 0.3% last week, NIfty50 closed on a flat note. Gold and crude oil prices continued to cool down. While gold fell below the INR 60,000 per 10 gram level after the Akshay Tritiya buying was over, Brent crude oil fell to $81 per barrel on Monday morning. <cmsannotation type="cmsannotation" annotationid="Global markets mixed" comment="subhead" text="Global markets mixed">Global markets mixed</cmsannotation> Markets globally were mixed on Monday morning. Markets in the US closed in the green on Friday, with Dow Jones gaining 0.07% and the S&amp;P 500 gaining 0.09%. The tech-heavy Nasdaq closed 0.11% higher. On the other hand, markets in Asia opened largely in the red on Monday morning, with Hang Seng declining 0.8%, followed by KOSPI which declined 0.75%. Shanghai Composite was down 0.5%, while Taiwan Weighted was flat. The Nikkei 225 index, on the other hand, gained 0.29%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Reliance Industries: The Mukesh Ambani led company’s net profit increased 9.9% on year to ₹66,702 crore for FY23 while its revenue stood at ₹8.93 lakh crore, which grew 23.7% on year. Its Q4 net profit was highest ever at 19,299 crore beating analysts expectations. <keyword id="42456" type="General" weightage="20" keywordseo="icici" source="Orion">ICICI</keyword> Bank: The lender’s net profit for March quarter has jumped 30% on year to ₹9,121 crore beating analysts expectations. The bank’s net interest income surged 40.2% on year to ₹17,667 crore. Wipro: The company is considering a buyback of equity shares of the company this week. Maruti Suzuki: The automaker has recalled 7,213 units of its Baleno RS hatchback over a possible defect in the vacuum pump that assists its brake function. Hindustan Zinc: The company reported 11.78% fall in consolidated net profit at ₹2,583 crore for March quarter on higher expenses. Its expenses stood at ₹5,358 crore higher than ₹4,717 crore from a year ago Yes Bank: The lender has reported a huge 45% on year dip in its net profit at ₹202 crore in Q4 FY23. However, on a quarterly basis its profit rose 293% from ₹51 crore in the December quarter. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-q4-net-profit-of-19299-crore-beats-analyst-expectations-driven-by-retail/articleshow/99673940.cms">RIL’s Q4 net profit of ₹19,299 crore beats analyst expectations, driven by retail</a> <a href="https://www.businessinsider.in/business/news/indias-it-sector-likely-to-face-macro-headwinds-until-end-2023-say-analysts/articleshow/99714439.cms">India’s IT sector likely to face macro headwinds until end 2023, say analysts</a>

Sensex, Nifty50 edge up in morning trade led by banking and realty stocks

<ul><li>Indian benchmark indices <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged lower in morning trade on Friday amid negative cues in global markets. </li><li>Realty, metal and auto stocks declined while FMCG and media stocks edged up. </li><li>Both the benchmark indices were down 0.1%, with Sensex at 59,579 points and Nifty50 at 17,596 points.</li></ul>Indian benchmark indices Sensex and Nifty50 edged lower in morning trade on Friday amid negative cues in global markets. Realty, metal and auto stocks declined while FMCG and media stocks edged up. Both the benchmark indices were down 0.1%, with Sensex at 59,579 points and Nifty50 at 17,596 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.69% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.92% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.96% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.76% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi's Laboratories </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.91% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.51% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.86% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.33% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.86% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.19% </td></tr></tbody></table> Source: NSE, as on April 21, 2023 Earlier on Thursday, markets snapped a three-day losing streak to close in the green, with Sensex gaining 0.11% and Nifty50 gaining 0.3%. <keyword id="141968" type="General" weightage="80" keywordseo="hcl-tech" source="Orion">HCL Tech</keyword> delivered its Q4 results on Thursday, with results in line with analyst expectations. While its attrition cooled down in line with that of its peers TCS and Infosys, it also guided for 6-8% revenue growth, nearly half of its FY23 growth of 13.7%. <cmsannotation type="cmsannotation" annotationid="Global markets in the red" comment="subhead" text="Global markets in the red">Global markets in the red</cmsannotation> Markets in the US closed in the red on Thursday, with Dow Jones declining 0.33% while S&amp;P 500 fell 0.6%. The tech-heavy Nasdaq was down 0.8%. Asian markets were largely in the red, too, on Friday morning. KOSPI declined the most at 0.72%, while Hang Seng was a close second with a fall of 0.67%. Shanghai Composite was down 0.54%, while Taiwan Weighted was down 0.24%. Nikkei 225 was flat. Gold prices edged up a little to INR 60,508 per 10 grams ahead of the auspicious occasion of Akshay Tritiya which sees an increase in purchase of the yellow metal. Crude oil prices continued to cool down, with Brent crude now hovering around the $81 per barrel level. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> HCL Technologies: The IT company’s revenue grew 13.7% in FY23 in constant currency terms and also met its FY23 revenue forecasts as it had guided it to be anywhere between 13.5-14%. Its operating margin fell sharply in Q4 to 18.1% in Q4 from 19.6% in Q3. ICICI Life Insurance: The insurer has reported a 27% growth in net profit at ₹235 crore as compared to ₹185 crore in the previous year period aided by a strong growth in value of new business. <keyword id="28423" type="General" weightage="100" keywordseo="vedanta" source="Orion">Vedanta</keyword>: Billionaire Anil Agarwal owned company has pledged 2.44% stake in group company <keyword id="115997" type="General" weightage="80" keywordseo="hindustan-zinc" source="Orion">Hindustan Zinc</keyword> to raise ₹1,500 crore as it is struggling to meet its debt obligations. With this, Vedanta’s pledged shares in Hindustan Zinc rose to 91.35% or about 59.3% of the company’s overall shares. Rail Vikas Nigam: The consortium of the company and Siemens received two separate orders from Gujarat Metro Rail for phase 1 of Surat Metro and phase 2 of Ahmedabad metro. Earnings today: Reliance Industries, Hindustan Zinc, Aditya Birla Money, Tejas Networks, Bheema Cements, Metalyst Forgings among companies to report March quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-projects-its-revenue-to-grow-between-6-8-in-fy24/articleshow/99644337.cms">HCL Tech projects its revenue to grow between 6-8% in FY24</a> <a href="https://www.businessinsider.in/finance/news/here-are-the-many-ways-you-can-invest-in-gold-this-akshaya-tritiya/articleshow/99635639.cms">Here are the many ways you can invest in gold this Akshaya Tritiya</a> <a href="https://www.businessinsider.in/business/corporates/news/sbi-icici-bank-ongc-tata-motors-bpcl-will-drive-niftys-earnings-in-q4-2022-23/slidelist/99632153.cms">5 companies that will drive Nifty’s earnings in Q4</a>

Sensex, Nifty50 edge lower amid negative global cues: Realty, metal and auto stocks decline

Called by its other name Akha Teej, <keyword id="126295" type="ORGANIZATION" weightage="20" keywordseo="Akshaya-Tritiya">Akshaya Tritiya</keyword> literally means the prosperity that does not diminish. A very important day in the month of Chaitra, people pray for health, wealth and prosperity. The popular belief recommends buying gold or precious metals on this day which is said to contribute to the household’s prosperity. This year, Akshaya Tritiya will be celebrated on Friday. Akshaya Tritiya is the right time to wish your near and dear ones with messages to inspire them and point out to the good times ahead. <keyword id="7603500" type="UNKNOWN" weightage="20" keywordseo="Akshaya-Tritiya-Wishes">Akshaya Tritiya wishes</keyword> and messages May Lord bless you on this auspicious day of Akshaya Tritiya, and May it be a new beginning of greater prosperity, success and happiness. On this auspicious Akshay Tritiya day, May all good luck come your way, Each day be blessed with prosperity and cheer, Enjoy festivities Akshay Tritiya is here May this day of Akshaya Tritiya bring you good luck and success which never diminishes. Happy Akshaya Tritiya. So many days, so many occasions, And yet Akshay Tritiya always feels great, May life be bundled with good luck and fortune, May you always be in a happy state Buy gold this Akshaya Tritiya and wealth and prosperity will walk to your home. May the gold bought or worn by you bring along all the wealth, happiness and never-diminishing good fortune. Happy Akshaya Tritiya. The God of wisdom and strength told me He is coming to bless you. So stay happy this Akshay Tritiya, and add a Midas touch to all that you do, Happy Akshay Tritiya. May Lord Vishnu bless you with wealth and prosperity on the occasion of Akshaya Tritiya. May this Akshaya Tritiya, light up for you. Everyone is waiting for the auspicious day to come. Before you leave to purchase Gold, here's me wishing you a happy Akshaya Tritiya in advance! On this day of Akshaya Tritiya, wishing you and your family a lifetime of luck and prosperity. May you thrive and may Goddess Laxmi shower her blessings on you forever. May Lord Ram Bless you On This Special Day, And May It Will Be A New Beginning Of Greater Prosperity, Awesome Success And Full Happiness. May Lord bless you on this auspicious day of Akshaya Trithiya, and May it be a new beginning of greater prosperity, success and happiness. Greetings on Akshaya Tritiya. May Lord Vishnu bless you with wealth and prosperity on the occasion of Akshaya Tritiya. With all the blessings of God, May your life always filled with lots of prosperity, There’s no sorrows left, eternal happiness for you, Wishing You Happy Akshaya Tritiya May this Akshaya Tritiya, light up for you – The hopes of times and dreams for a year full of smiles! Wishing you not just a day but a lifetime of eternal fortune and prosperity. Happy Akshaya Tritiya! The word Akshaya, a Sanskrit word, literally means one that never diminishes, and the day is believed to bring good luck and success. Happy Akshaya Tritiya to you and your family my friend. May this Akshaya Tritiya, light up for you – The hopes of happy times and dreams for a year full of smiles! Sanskrit Word Akshaya means one that never diminishes. May this day of Akshaya Tritiya bring you good luck and success which never diminishes. Happy Akshaya Tritiya. May this day of Akshaya Tritiya bring you good luck and success which never diminishes. Happy Akshaya Tritiya! Akshaya Tritiya is a very sacred and auspicious day. There is a belief that valuables bought on this special day will bring prosperity, luck and success. So purchase gold of your wish. Happy Akshaya Tritiya. May Lord bless you on this auspicious day of Akshaya Trithiya, and may it be a new beginning of greater prosperity, success and happiness. Happy Akshaya Tritiya! May this auspicious day of Akshaya Tritiya bring you good luck and success. Buy gold, go shopping. Akshay Tritiya is on its way. May you be blessed with health and wealth. These are my wishes today and everyday. Happy Akshay Tritiya. Happy Akshaya Tritiya to you and your family. May this auspicious day bring you a new beginning of greater prosperity. Health, wealth and prosperity are here to hold. May you celebrate this Akshay Tritiya With tons of Gold. Happy Akshay Tritiya. May god shower his blessings on you always. Have a wonderful Akshaya Tritiya. Wishing you all the joy, prosperity, happiness and wealth. Happy Akshaya Tritiya.

On the auspicious day of Akshaya Tritiya, here are a few wishes you can send to each other

<ul><li>Jewellery sales this July were 36% higher than they were last July, according to the Retailer Association of India.</li><li>Jewellery brands like <keyword id="413856" type="General" weightage="20" keywordseo="kalyan-jewellers" source="Orion">Kalyan Jewellers</keyword>, Melorra and more are banking on the <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword> and strong sales ahead.</li><li>Platinum jewellery brands, diamonds and even other precious stones’ retailers are hoping that consumers will open up their purse strings this festive and wedding season.</li></ul>The ongoing festive season, which comes after two years of COVID, has made gold, diamonds and platinum jewellers optimistic. After witnessing a spike in July, jewellery brands are looking forward to bumper festive sales this year. Manufacturers are opening new stores and upping their marketing activities to reach out to more consumers. “We are expecting the demand to go up this festive season as we are coming out of the shadows of COVID-19. We are putting up stores in eastern India (West Bengal, Orissa, Bihar and Assam), which would benefit from both Pujo and Diwali,” Kushal Singh, head of marketing of Melorra, told Business Insider India. Melorra plans to launch 60 stores by the end of this fiscal and 350 by FY26. As per the Retailers Association of India, jewellery sales this July were 36% higher than they were last July. <div type="image" title="gold rate in Aug" msid="93654867" hostid="261" caption="&amp;lt;p&amp;gt;Google finance&amp;lt;/p&amp;gt;"></div> This is in spite of erratic movements in <keyword id="46002" type="General" weightage="20" keywordseo="gold-prices" source="Orion">gold prices</keyword>. In mid-July, 10 grams of gold had dropped to ₹51,860. While falling prices is generally good news for buyers, since it’s also treated as an investment, they could turn nervous if their prices are erratic. Also, they have been inching up since late July and it caught pace in August. Singh however says that prices do influence purchases, but only temporarily. “Historically, gold imports to India have grown despite gold prices going up,” said Singh. He said that most of the demand will come from tier I and II cities during the festive season. Kalyan Jewellers hopes a rerun of the last quarter’s performance and also expects it to be better going ahead. It reported a net profit of ₹108 crore in the April-June quarter and its consolidated revenues stood at ₹3,333 crore. “July has been very good, the momentum is better than Q1. In the South, there's wedding and festive season, so we expect that Q2 should be good and we have high hopes because July has been behaving extremely well in India and the Middle East,” said Ramesh Kalyanaraman, executive director, Kalyan Jewellers. In the last one year, most jewellery stocks provided positive returns to their investors. <div type="image" title="Gold story" msid="93654885" hostid="261" caption="&amp;lt;p&amp;gt;BI India&amp;lt;/p&amp;gt;"></div> After the pause Kalyanraman said that consumers tend to take a pause during major macro-economic changes but that hasn’t affected brand’s long-term sales. “It [fluctuation] does not impact our sales because the customer comes with a budget and they buy for the money they have. So, if the gold price is more the volume will be lesser, if the gold price is low, then the volume will be higher, because customers come with a budget and they adjust accordingly,” said Kalyanraman. To deck up for the festive season, Kalyan Jewellers is now working on increasing its retail footprint in non-Southern India by another 8%, before Diwali this year. Platinum industry expects a buoyant consumer sentiment <div type="image" title="Caratlane" msid="93654919" hostid="261" caption="&amp;lt;p&amp;gt;Caratlane&amp;lt;/p&amp;gt;"></div> The platinum market too is gaining back its lustre after a lull. In Q4 FY22, it grew 30% year on year on the back of the wedding and festive season. It’s expected to return to pre-pandemic levels. Platinum Guild International-India’s managing director Vaishali Banerjee told Business Insider India that it has been encouraging to see platinum jewellery moving in a positive direction. “This year's H1 has seen tremendous recovery and phenomenal growth, with weddings and the festive season returning after two years. With the unlock phases post-Covid , platinum has been able to maintain a consistent and strong position in the Indian jewellery industry,” she said. Banerjee’s outlook for the second half of 2022 is equally positive. “We are hopeful that this growth trajectory will continue in H2. During the last quarter, the already buoyant consumer sentiment and positivity are expected to further increase due to the convergence between the festive and wedding seasons. This extremely important jewellery purchase period will be built through various consumer and trade marketing campaigns by PGI and its strategic partners," said Banerjee. Ovals, emeralds, long radiants, long cushions Despite a supply cut from Russia, <keyword id="10056" type="General" weightage="20" keywordseo="diamond-jewellery" source="Orion">diamond jewellery</keyword> brands too expect good sales. “The forthcoming season is always important for the diamond industry. It is the season to sparkle! Jewellers and retailers replenish their stocks during August and September to fulfill their orders for the festive and wedding season. To meet the demands of the retailers and jewellers there is enough inventory and supply of natural diamonds of all shapes and sizes,” said Rajesh Shah, partner, Venus Jewel. Diamond manufacturing, said Shah, is demand-led, which means the production automatically changes as demand grows. This time, ovals, emeralds, long radiants, long cushions and diamonds are in demand. For Caratlane, Dhanteras, Akshay Tritiya and Valentine’s day contribute over 45% to its revenue. “We have done a lot of preparations to be ready in time for the season in terms of adding more designs, more inventory, marketing actions, all of those are also on track. We feel a lot of confidence and optimism about the season,” Avnish Anand, COO and co-founder of CaratLane told Business Insider India.

Jewellery brands deck up in hope of bumper festive sales ahead

<ul><li><keyword id="4465249" type="PERSON" weightage="20" keywordseo="digital-gold">Digital gold</keyword> is luring Indian consumers on the festival of Akshay Tritiya this year. </li><li>In March, digital payments arm of Google, Google Pay also launched gold investment options to its customers in India. </li><li>Ever since the launch, the digital gold market has seen strong growth, with an estimated over 80 million people who had digital accounts as of March 2019.</li></ul>Indians love and swear by gold as a trusted investment asset so much they even have festivals popular for buying gold. Akshay Tritiya, an annual spring festival in India, is one such fare. But this year, the festival has taken a digital twist. With the launch of ‘<a href="https://www.businessinsider.in/google-pays-new-tactic-to-take-on-rivals-paytm-phonepe-in-india-introduces-digital-gold-offerings/articleshow/68609832.cms">Digital Gold’</a> in India, Indians considering buying gold on the occasion of <keyword id="126295" type="ORGANIZATION" weightage="20" keywordseo="Akshaya-Tritiya">Akshaya Tritiya</keyword>, also have a number of digital options if they fancy. Given that, National Stock Exchange (NSE) is even conducting a <a href="https://www.financialexpress.com/money/digital-gold-vs-sovereign-gold-bond-vs-gold-etf-vs-jewellery-important-watch-outs-before-you-buy-gold-on-akshay-tritiya/1569187/">trade session</a> dedicated to gold exchange and trade on Tuesday, on account of Akshaya Tritiya to give Indians this “smart investment option.” In March, digital payments arm of Google, Google Pay also launched gold investment options to its customers in India. What is ‘Digital Gold?’ ‘Digital gold’ is basically buying and selling of gold via online platforms and mobile wallets. These sites are reportedly offering everything from gold coins, gold bars and even gold jewellery, but in the form of ‘digital gold.’ The digital method allows one to buy 99.9% 24 karat gold. One can buy gold in small quantities in rupees or grams digitally and that can be redeemed at a physical gold shop against jewellery or sold later. However, the price at which the digital gold is sold is valid for only for 6 minutes. Where to buy? Digital wallets including Google Pay, PhonePe, Mobikwik and PayTm, among others have all rolled out the ‘digital gold’ option on their platforms in partnership with MMTC-PAMP or SafeGold, under the Gold Accumulation Plan(GAP). SafeGold is a joint venture between Invent Capital, a private equity firm, and World Gold Council. Users can buy digital gold via online wallets and store in online accounts — which are linked to GAP. Why the digital mode? Digital gold is being touted as a “smart and economic investment option.” That’s because while the <a href="https://www.business-standard.com/article/pf/digital-gold-a-convenient-investment-method-or-a-ponzi-scheme-in-making-119041800720_1.html">prices of gold</a> may vary between 4%-5% on the retail price of gold from the actual price, the price variation on digital gold is said to vary between 1.5% to 2%. There’s also no storage cost for digital gold and can be kept for a maximum of five years period. After that, the user can either sell it or can be converted into gold jewellery. Ever since the launch, the digital gold market has seen strong growth, with an estimated over 80 million people who had digital accounts as of March 2019. But there are also concerns over the lack of <a href="https://www.business-standard.com/article/pf/digital-gold-a-convenient-investment-method-or-a-ponzi-scheme-in-making-119041800720_1.html">regulation</a> in the emerging sector. See also: <a href="https://www.businessinsider.in/google-pays-new-tactic-to-take-on-rivals-paytm-phonepe-in-india-introduces-digital-gold-offerings/articleshow/68609832.cms">Google Pay wants to offer Indians their favourite investment option – gold</a>

This Indian festival popular for gold shopping has gone digital this year to lure millennials

Kolkata, Apr 19 () The novel coronavirus outbreakhas cast a shadow on ISKCON's Rathyatra festival in the citythat attracts more than 10 lakh devotees every year, aspokesperson of the organisation said on Sunday.With a week left for Akshay Tritiya, the auspiciousday when construction of the three chariots pulled during theRathyatra begins, the ISKCON-Kolkata centre is bracing for"scaling down or cancellation" of the nine-day festivalscheduled to begin on June 23."There are 50-50 chances for cancellation of thefestival. Even if it takes place, it will be a scaled-downevent. If the lockdown is further extended beyond May 3,organising the festival will be difficult."If we see that the disease continues to spread, wewill ourselves cancel the Rathyatra," ISKCON-Kolkata Centrevice president and spokesperson Radharaman Das told .The Kolkata Rathyatra of ISKCON is organised incoordination with the state government. Chief Minister MamataBanerjee had flagged off the festival last year.The chariots traverse through important landmarks ofthe city along an eight-km route starting from ISKCON templenear Minto Park.The procession culminates at the Brigade ParadeGrounds in central Kolkata, where the chariots are kept fornine days and devotees and visitors congregate at a fairorganised on the occasion.Last year, the ISKCON-Kolkata Rathyatra had witnesseda total gathering of around 15 lakh people across nine days,Das said."Around 2.5 to 3 lakh devotees congregate during thepulling of the chariots. But the situation is different now,"he said.Das said for organising the festival, they have to getpermission from the state government, the Centre and theDefence, which owns the Brigade Parade Grounds."Normally, we get the permissions by this time of theyear but things have got delayed because of the lockdown," hesaid.The ISKCON authorities in the city are in touch withthe servitors of the Jagannath Temple in Puri, where too, thesituation appears grim, Das said."Uncertainty grapples even the Puri festival. There isno preparation now. We will take a call after May 3," he said.Under the worst circumstances, the authorities mightthemselves carry the three deities along the route withoutpublic participation and bring them back on Bahuda Rath onJuly 1, Das said."We do not want to risk the lives of other people. Wewill follow whatever the state government and the Centreadvice us," he added. TAPACD ACD

COVID-19 casts shadow on ISKCON's Kolkata Rathyatra

Dehradun, Apr 27 () Uttarakhand Chief Minister Trivendra Singh Rawat on Monday said the nationwide lockdown has dealt a blow to tourism in the state, but expressed hope that things will get back on track under Prime Minister Narendra Modi's leadership. "Uttarakhand has been a centre of tourism, especially religious tourism, which has suffered due to the lockdown, but we are confident that under the leadership of the prime minister, the situation will improve again," Rawat said after participating in the prime minister's video-conference with chief ministers. He said the bold and timely decision taken by Modi to impose the lockdown in order to curb the spread of coronavirus has made the country feel safe today and every Indian "looks up to the prime minister as a guardian".On the coronavirus situation in the state, the chief minister said adopting the prime minister's mantra of "jaan bhi, jahan bhi", the state government is pursuing a policy of gradual exit from the ongoing lockdown with resumption of selected economic activity, while strictly following the Centre's guidelines in view of the prevailing health emergency."We are working on gradually improving the economy. Pharmaceutical and food-processing industries, besides many others, have resumed operations without compromising on the guidelines issued by the Centre," he said.Citing an example, Rawat said the portals of Gangotri and Yamunotri were opened on the occasion of Akshay Tritiya on Sunday while strictly following the social-distancing norms.Work on some national highway projects and those under MGNREGA have been resumed in nine districts where there are no coronavirus cases, while maintaining the medical-safety norms, he added.A cabinet sub-committee has also been set up to suggest ways for economic revival, which will submit its report soon, the chief minister said.He also suggested that the duration of work under MGNREGA should be extended from 100 to 150 days.Rawat underlined the need to explore which economic activities can be resumed while fulfilling the health parameters laid down by the Centre to revive the state's economy."We should see how self-employment opportunities can be generated by resuming activities in the agriculture and forestry sectors, without compromising on the necessity of wearing masks and maintaining social distancing," he said.These things may lead to a gradual improvement in the situation, Rawat added. ALM RC

Tourism has suffered due to lockdown: Uttarakhand CM

<ul><li>Goldman Sachs equity research said Titan would see a slower store addition across categories due to impact of social distancing, weak demand and potential cashﬂow challenges. </li><li>Goldman Sachs equity research also says that the wedding segment of Titan accounts for 35% of the annual sales. Due to the lockdown and social distancing, its wedding sales are affected. </li><li>The report also predicts that the discretionary portion of Titan’s jewellery sales which accounts for 65% of the business is likely to see a more sustained impact on demand.</li></ul>Any other year, this week and this quarter would have been one of Titan’s best. It would be a day after Akshay Tritiya and the traditional wedding season that lasts from February to May — would be at its peak. This time around, not only are their stores shut due to the lockdown for over a month, many people have postponed weddings. It affects the jewellery and watch-maker greatly as 35% of its annual sales come from weddings. And the business was going good until the Great Lockdown and Covid-19, disrupted it, the company said. <div type="image" title="35% of jewelry sales come from wedding driven demand" msid="75405200" hostid="261" caption="&amp;lt;p&amp;gt;35% of jewelry sales come from wedding driven demand&amp;lt;/p&amp;gt;"></div> But it’s not just wedding business that it stands to lose. Going ahead, fewer people will care to buy jewellery for occasions or otherwise. As a result, Titan’s share price plunged over 21% in the last three months. “We believe the disruption being caused by the COVID 19 driven lockdown is not transient in nature and could have a prolonged impact on discretionary demand growth over the medium term,” said Goldman Sachs report which downgraded the stock from neutral to sell. <div type="Article" hostid="261" msid="75399506" title="Coronavirus cases in India inches towards the 28,000 mark— 22% recovered and 3.1% dead as of April 27" mstype="2" mssubtype="0"></div> Moreover, Titan businesses will offer lower returns due to weak sales. The report expects Titan to optimise costs through lower ad-spends. In spite of that, it still expects its jewellery profit margins to decline to 10.3% in FY21 from 11.3% in FY20E due to operating leverage. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2116340" data-url="https://flo.uri.sh/visualisation/2116340/embed"></div>]]></cdata></div> Even if weddings restart in all their splendour, sales of jewellery will not pick up according to Goldman Sachs equity research. The economic slowdown and the resultant job loss and pay cuts has already hit consumer confidence and discretionary spends will be the worst hit. “We expect the current uncertain macroeconomic environment will lead to lower consumer expenditure on weddings over the next few quarters,” cited the Goldman Sachs report. Goldman Sachs equity research predicts that the discretionary portion of Titan’s jewellery sales which accounts for 65% of the business will be affected for a long time. “Indian jewellery demand has a positive correlation with real GDP growth,” the report said. The research firm forecasts Indian GDP to grow at -0.4% indicating Titan’s sales will remain muted for the next two years. Long-term destruction Titan itself has admitted this. <a href="https://www.businessinsider.in/business/news/titan-says-severe-impact-of-coronavirus-on-q4-revenue/articleshow/75060929.cms">“Consequent to the serious disruptions in operations in March, </a>revenue growth for the quarter and consequently for the year has been impacted severely,” the company said in its quarterly update Titan, which was on a growth path, will have to pull back its plans. “Titan would see a slower store addition across categories due to impact of social distancing, weak demand and potential cashﬂow challenges at franchisee partners during the pandemic,” the report said. “We now expect only 75 new stores in FY21/FY22 combined vs our expectations of 100 earlier in February 2020,” cited the report. SEE ALSO: <a href="https://www.businessinsider.in/india/news/data-of-coronavirus-patients-state-wise-in-india/articleshow/74669748.cms">Coronavirus cases in India state wise</a> <a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a>

Without weddings and fewer Indians in a celebratory mood, Titan’s sales to remain muted for the next 2 years

<keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> has sold over 175 kg <keyword id="18712" type="ENTERTAINMENT" weightage="100" keywordseo="Gold">gold</keyword> on its platform since the launch of the service in April when it had launched the product during the occasion of Akshaye Tritiya. The precious metal processing facility MMTC-PAMP has partnered with the e-wallet company to allow consumers to buy gold for as low as Re 1, online. Consumers can purchase 24K 999.9 purity gold online and store it in vaults of MMTC-PAMP for no extra cost. India is the largest consumer of gold after China, with many using it for savings as a hedge against <keyword id="22195" type="COMPANY" weightage="40" keywordseo="Inflation">inflation</keyword> besides that, it is considered an auspicious gift during many festivals in the country. <div type="embedgroup"> <div type="Article" hostid="261" msid="59807093" title="Here’s how Tech Mahindra is using start-ups to ensure retention of their best IT employees" rank="1.0" kind="RELATED" publishDate="Jul 28, 2017, 3:02 PM" mstype="2" mssubtype="0"></div>&gt;</div>








Catching them young <keyword id="202300" type="PERSON" weightage="20" keywordseo="Krishna-Hegde">Krishna Hegde</keyword>, senior vice-president, Paytm, told Business Insider that people in the 25-35 age group are increasingly buying gold which is seen as an asset for an older demographic. The company is hoping to sell 5 tonnes in the current fiscal, worth over Rs 1,300 crore at current prices. Hedge also said that the higher tax implementation hasn’t deterred users and the company sees the service grow tremendously every month. Customers can buy as much gold as they want on the platform but Paytm has made it mandatory for users to provide KYC documents for transactions of Rs 20,000 and above and PAN card for over Rs 50,000 worth of Gold.

 

 

 

 <div type="embedgroup"> <div type="Article" hostid="261" msid="59887416" title="Entry-level jobs could soon pay Rs. 18000 all across India and that could be a problem" rank="1.0" kind="RELATED" publishDate="Aug 02, 2017, 11:14 PM" mstype="2" mssubtype="0"></div>&gt;</div>








Making jewelry out of a digital asset "The highest traction surprisingly hasn’t just come from the cities with the state of <keyword id="6357783" type="CITY" weightage="20" keywordseo="West-Bengal">West Bengal</keyword> accounting for more than 30% of the total sales. ," Hegde said. In the future, Paytm customers will be able to find jewellers near them where they can convert the digital gold into jewellery instantly by paying the making charge. While the company gives an option to get gold delivered to households after paying coin making charges and delivery charges, over 60% of the buyers currently have chosen to keep it online. 

 

 

 

 <div type="embedgroup"> <div type="Article" hostid="261" msid="59880790" title="Here’s why Harvard University just started a course on Non-profit Management in Delhi" rank="1.0" kind="RELATED" publishDate="Aug 02, 2017, 6:00 PM" mstype="2" mssubtype="0"></div>&gt;</div>






Monthly/Weekly/Daily savings Hegde says that the customers are slowly embracing this trend by buying more gold on the platform but one customer has been buying gold worth Rs. 11 everyday since the launch. While some customers chose to invest in gold by buying 1 gm. Every month, some customers have even bought gold worth Rs. 20 lakhs. Paytm also recently started rolling out optional cashback in gold which has been embraced by customers who previously tried out the app just for its cashback and convenience. Categories like movies, recharges and bill payments have already been activated with this feature. With disposable incomes increasing, and more people coming online the gold rush isn’t looking to stop anytime soon on Paytm.

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Here’s how and where you can buy gold online for Akshaya Tritiya during the lockdown

BI India Bureau

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On the auspicious day of Akshaya Tritiya, here are a few wishes you can send to each other

BI India Bureau

Jewellery brands deck up in hope of bumper festive sales ahead

Karuna Sharma

This Indian festival popular for gold shopping has gone digital this year to lure millennials

Prerna Sindwani

COVID-19 casts shadow on ISKCON's Kolkata Rathyatra

PTI

Tourism has suffered due to lockdown: Uttarakhand CM

PTI

Without weddings and fewer Indians in a celebratory mood, Titan’s sales to remain muted for the next 2 years

Navdeep Yadav

A Paytm customer buys gold online everyday for Rs. 11 adding to the company’s gold streak

Tanya Dubey

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