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India is celebrating <keyword id="23288581" type="General" weightage="20" keywordseo="Dhanteras" source="keywords">Dhanteras</keyword> today, even as the public remains cautious about adding gold's glitter to their portfolios, given the metal's sky-high prices. <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">Gold prices</keyword> went past the Rs 81,000 mark today in Delhi. Per IBJA (<keyword id="20397944" type="General" weightage="20" keywordseo="India-Bullion-and-Jewellers-Association" source="keywords">India Bullion and Jewellers Association</keyword> Ltd.), the cost of 24K gold stood at Rs 7,885/gram today, while 22K gold was priced at Rs 7,695/gram. While jewelers anticipate some increase in customer footfall today, between afternoon and late evening, the All India Gem and Jewellery Domestic Council expects sales volumes to remain steady at around 20 tons. However, per their estimates, sales this year might be down by 5% compared to last year. The <keyword id="19921618" type="General" weightage="20" keywordseo="Confederation-of-All-India-Traders" source="keywords" meta.keywordsubtype="org" meta.entityname="Confederation of All India Traders" meta.hostid="261" meta.entityid="Confederation of All India Traders">Confederation of All India Traders</keyword> (CAIT) projects nationwide retail trade worth Rs 50,000 crore during this Dhanteras. Even quick-commerce companies are cashing in on the Dhanteras sentiment. While Blinkit has partnered with Joyalukkas and Malabar Gold and Diamonds to deliver gold and silver coins in 10 minutes, Zepto has teamed with Augmont and Malabar for the same. Per media reports, Swiggy Instamart has partnered with Muthoot Exim and Malabar, while BigBasket has tied up with Tanishq. Legend has it that it was on this day that Lord Dhanvantari, the deity of health, appeared today, making brass utensils particularly auspicious for purchase. People also seek blessings from Lord Ganesha, Goddess Lakshmi, and Lord Kuber, and it is considered auspicious to buy gold and silver jewelry, utensils, kitchenware, vehicles, garments, and electronics on this day. <h2>The appreciation of gold</h2> Gold has had a great run this year, having a YTD (yield-to-date) of 24%. Despite high prices, the demand for gold this festive and wedding season is expected to remain buoyant in India. The yellow metal's demand as a haven has jumped up significantly in recent times, owing to <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword> like the ongoing Israel-Hamas conflict. Moreover, with governments across the world trying to tame inflation and boost spending by way of rate cuts, gold is increasingly being seen as an effective hedge against inflation. Experts suggest that the demand is set to remain elevated for the times to come. "The immediate outlook for gold remains robust, supported by the recent import duty reduction from 15% to 6%, which has already stirred significant market activity with imports doubling year-over-year. Despite price changes, the traditional festive and wedding seasons continue driving strong demand, with consumers adapting their purchasing patterns," says Vikas Singh, Managing Director &amp; CEO of MMTC-PAMP. "Looking ahead, multiple structural factors paint a positive long-term picture. There is an overall trend of increasing gold holdings providing sustained price support. While physical gold remains paramount, there's increasing interest in gold investments, particularly among urban consumers," he continues. <h2>How to check if your gold is pure </h2>First, always make sure to buy only hallmarked physical gold. "Hallmarking is the accurate determination and official recording of the proportionate content of precious metal in the precious metal article. Hallmarking provides consumers with third-party assurance and satisfaction that they get the right purity of gold (or silver), the government noted in a press release yesterday, urging customers to buy only <keyword id="23040621" type="General" weightage="20" keywordseo="hallmarked-gold" source="keywords">hallmarked gold</keyword> and silver. Hallmarked gold is characterized by a few specific marks, like the logo of BIS (Bureau of Indian Standards), the jeweler's mark, and that of the hallmarking center. During the process of hallmarking, each piece of gold or silver is assigned a 6-digit alphanumeric code or HUID (Hallmark Unique Identification). Download the BIS Care app on your phone and enter this code using the verify HUID icon on the app. This will help you test the veracity of your purchased gold.

Gold continues to shine bright on Dhanteras, but should you participate in the glitter?

As <keyword id="23288581" type="General" weightage="100" keywordseo="Dhanteras" source="keywords">Dhanteras</keyword> shopping kicks off, <keyword id="20402496" type="General" weightage="20" keywordseo="jewellery-sales" source="keywords">jewellery sales</keyword> have begun on a slower-than-anticipated note, likely due to both elevated <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">gold prices</keyword> and weekday timing, which has kept morning footfalls modest, a PTI report says. Jewellers are hopeful for increased customer flow starting this afternoon, with peak shopping expected after 2 p.m. <keyword id="20036537" type="General" weightage="20" keywordseo="Saiyam-Mehra" source="keywords">Saiyam Mehra</keyword>, chairman of the <keyword id="21612311" type="General" weightage="20" keywordseo="All-India-Gem-and-Jewellery-Domestic-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="All India Gem and Jewellery Domestic Council" meta.hostid="261" meta.entityid="All India Gem and Jewellery Domestic Council">All India Gem and Jewellery Domestic Council</keyword>, said that while high gold prices (around ₹81,100 per 10 grams) are expected to curb volume somewhat, they hope to match last year’s numbers in terms of value. Mehra anticipates sales volume may be similar to or slightly lower than last year’s 20 tonnes due to the sustained high prices. Being a weekday we are seeing few footfalls in the morning hours as people are going to attend office. However, we are expecting the rush from afternoon, that is 2-2.30 pm, till late evening," he told PTI. <keyword id="20398993" type="General" weightage="20" keywordseo="Saurabh-Gadgil" source="keywords">Saurabh Gadgil</keyword>, Chairman of PN Gadgil Jewellers, added that Dhanteras festivities extending into Wednesday offer a broader business window, with customer bookings showing promise despite possible dips in quantity sold. The extra shopping time could offset some of the price impact, particularly for buyers seeking smaller gold pieces or silver, which has remained steady at ₹99,500 per kg. Senco Gold and Diamonds MD Suvankar Sen noted positive weekend turnout, expecting the crowd to grow through the afternoon and into late evening. The industry anticipates late-night demand will hold strong, especially among buyers seeking traditional purchases on this auspicious day for jewellery investments. This extended buying period provides customers with more options, as jewellers focus on flexibility to accommodate high-value purchases amid record gold prices. (with PTI inputs)

Dhanteras 2024: Jewellers report slower than expected sales due to rising gold prices

<keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">Gold prices</keyword> rallied by Rs 550 to Rs 75,700 per 10 grams in the local market on Tuesday on the back of fresh buying by <keyword id="20280747" type="General" weightage="20" keywordseo="jewellers" source="keywords">jewellers</keyword> as well as strong trends in the international markets. According to All India Sarafa Association, the precious metal rates had closed at Rs 75,150 per 10 grams on Monday. In the national capital, gold of 99.9 per cent and 99.5 per cent purity quoted higher at Rs 75,700 per 10 grams and Rs 75,350 per 10 grams, respectively. Traders attributed the rise in gold prices to a pick-up in demand by local jewellers and retailers in the domestic market. In addition, <keyword id="20762025" type="General" weightage="20" keywordseo="silver-prices" source="keywords">silver prices</keyword> also jumped by Rs 400 to Rs 94,400 per kg. It had ended at Rs 94,000 per kg in the previous session. "Gold and silver prices witnessed a sharp recovery on the back of rate cut expectations. "No major data points were scheduled on Monday, however, comments from <keyword id="19901377" type="General" weightage="20" keywordseo="US-Federal-Reserve" source="keywords">US Federal Reserve</keyword> Chair Jerome Powell were in limelight," Manav Modi, Senior Analyst, Commodity Research, Motilal Oswal Financial Services Ltd (MOFSL), said. Fed Chair Powell said that second quarter data has given policymakers greater confidence that <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> is heading down to the central bank's 2 per cent goal. Powell reiterated that the US central bank is in no rush to cut rates but he also raised concerns regarding ease off in labour market and increase in deficits. This week, traders will keep an eye on important data points like US retail sales, industrial production and a few housing numbers, which could provide clarity on overall economic health, Modi added. On the overseas front, spot gold at Comex was traded at USD 2,436 per ounce, registering a gain of USD 28 per ounce from previous day. According to Dilip Parmar, Research Analyst at HDFC Securities, gold prices traded higher amid ETF demand and speculative buying as the global gold prices hovering near the record high. "...decline in the treasury yields and US dollar index also supported the spot gold prices," Parmar added. Additionally, silver was also quoted higher at USD 30.77 per ounce. In the previous session, it had finished at USD 30.68 per ounce. "Gold continues to trade positive, supported by a steady US dollar and easing bond yields as focus remains on an early rate cut by the Federal Reserve. "The bullion was also supported by a rise in <keyword id="20501401" type="General" weightage="20" keywordseo="safe-haven-demand" source="keywords">safe-haven demand</keyword> amid signs of political uncertainty in the US and France, and with a close eye on the geo-political developments in the middle-east as well," Pranav Mer, VP - Research (Commodity &amp; Currency) at BlinkX and JM Financial, said.

Gold rallies Rs 550; silver jumps Rs 400 amid strong global cues

Imagine a bustling jewellery market teeming with diamonds and gold. Amidst this glittering chaos, a small stall is trying to sell handcrafted gemstones. Even as newer and shinier outlets keep cropping up, all vying for attention, this gemstone store offers some of the oldest yet valuable jewels at a discount. Though they lack immediate sparkle, these rare gems reveal their value to the discerning buyer. This is how South Korea appears for many experts in global capital markets: a trove of undervalued gems, overshadowed by brighter, more aggressively marketed investment options. This undervaluation, known as the "<keyword id="24399183" type="General" weightage="20" keywordseo="korean-discount" source="keywords">Korean Discount</keyword>," reflects how South Korean companies are priced much lower than their global peers despite robust fundamentals — strong financial performance and consistent profitability. Contributing factors are many, ranging from opaque governance structures to geopolitical risks. But the fact stays, if you are a seasoned conglomerate listed in South Korea, you are likely undervalued. <keyword id="19906087" type="General" weightage="20" keywordseo="hyundai" source="keywords">Hyundai</keyword> Motor India Ltd. (HMIL), a subsidiary of the Korean giant Hyundai Motor Company (HMC), recently sought to escape this valuation trap by listing in India, a market where investor optimism commands premium pricing. But its valuation raised many eyebrows! Now that a month and a half has gone by since its listing, time is apt to examine if this gamble paid off. Will <keyword id="93460" type="General" weightage="100" keywordseo="hyundai-india" source="Orion">Hyundai India</keyword> justify its high valuation? Or does the listing highlight broader questions about the overheated valuation dynamics of Indian markets? A record-breaking <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> but questions remain Hyundai Motor India’s mega Initial Public Offering (IPO), launched in October 2024, broke records by raising ₹27,870 crore, making it India’s largest-ever IPO. The offer was oversubscribed by 2.37 times, highlighting robust demand. But many investors remained sceptical: was this IPO an honest attempt to expand Hyundai’s footprint in India or was it trying to offer a way to cashout for existing investors and promoters? Or perhaps, is it an attempt by the Korean chaebol — a large family-owned business conglomerate — to break free from the aforementioned “Korean Discount”? When shares listed on October 22, these concerns seemingly weighed on the minds of most investors and the stock promptly dipped 5% below the issue price on the day. A tepid grey market performance had already foreshadowed this muted debut in the Indian markets. Now, after almost 35 trading sessions on Indian market, the stock remains almost exactly at price it listed on October 22 at Rs 1820—no gain, no loss. <h3>The gamble of hyper-valuation</h3>Much of this hesitation stemmed from Hyundai’s valuation. On listing, Hyundai was valued at $18 billion, positioning it as one of India’s most valuable automotive companies. However, such high valuations often temper investor enthusiasm, resulting in more cautious short-term outcomes. For most investors, the Price-to-Earnings (P/E) ratio is the most preferred parameter to gauge if a company is overvalued or undervalued. With a P/E ratio of 26.3, HMIL was priced significantly above the Indian automotive industry average of 24.4. Globally, automotive companies operate with much lower P/E ratios, reflecting mature market conditions and slower growth trajectories. HMIL’s South Korean parent Hyundai Motor Company (HMC) trades at a meagre 3.07, believe it or not! For Indian investors, the high premium hinted at overvaluation despite Hyundai’s strong domestic position. Such stark difference in valuation obviously sparked debates — is the Indian market assigning a premium to Hyundai Motor India’s growth potential, or is it simply reflecting the general exuberance around the prospects of the Indian economy? Another concern is the allocation of IPO proceeds. Hyundai’s IPO was structured as an offer for sale (OFS), meaning all funds raised would flow to the parent company rather than Hyundai India’s operations. Although Hyundai has committed to investing in R&amp;D for EVs and hybrids, critics argue that the lack of immediate reinvestment in India’s operations reflects a missed opportunity for domestic growth. Despite the early disappointment, Hyundai was confident that the valuation was fair. It did have some factors going for it, in addition to the fact that other auto giants like Mahindra &amp; Mahindra and <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> command even higher P/E ratios. And looking at the company fundamentals, it does seem like Hyundai is playing a long-term game. <h3>Hyundai in India: A proven track record</h3>Despite the initial stumble, Hyundai India’s long-term story is compelling. Since entering the Indian market in 1996, the automaker has sold over 8 million vehicles and firmly occupies the second spot in the domestic passenger vehicle market, trailing only Maruti Suzuki. Hyundai’s blockbuster SUV offerings, like the Creta and Venue, have been critical in building this dominance. Despite some challenge from Maruti Suzuki Brezza and Tata Punch, Creta has retained the tag of ‘most-selling SUV in India’ successfully so far this year. <div type="image" title="Hyundai" agency="Business Insider India" msid="116156234" hostid="261" caption="&amp;lt;p&amp;gt;Selling over 17,000 units per month on average this year, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva)&amp;lt;/p&amp;gt;"></div> Selling over 17,000 units per month on average, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva) Hyundai India’s market share of 14% in October 2024 underscores its clout. The company’s ability to tap into India’s premiumisation trend, where consumers increasingly prefer high-end vehicles, positions it well for growth. With plans to expand in electric vehicles (EVs) and hybrid technology, Hyundai is poised to capitalise on both domestic demand and export opportunities. The company’s ability to capitalize on its strong brand, extensive dealer network, and leadership in segments like SUVs and exports will determine its future performance. Hyundai’s strategic focus on expanding electric vehicle production also aligns with global trends towards sustainability, potentially positioning it as a leader in the segment. By listing in India, Hyundai aims not only to expand its operations but also to make India a global manufacturing and export hub for its products, especially SUVs and EVs. Therefore, despite early setbacks, Hyundai’s gamble seems to have paid off. The stock has rebounded, gaining 5% in the past month. More good news came in this week, as positive projections from Morgan Stanley and JPMorgan forecast an impressive 17-28% upside for the stock over the next year, reflecting growing investor optimism. <h3>A strategic pivot from the Korean Discount?</h3>The Korean Discount has long plagued South Korea’s chaebols, including Hyundai. Experts attribute this to several factors: <ul> <li>Chaebol Governance: South Korea’s conglomerates, known as chaebols, are often criticised for opaque governance structures and excessive family control.</li> <li>Geopolitical Risks: Tensions with North Korea contribute to investor caution, adding a layer of perceived risk.</li> <li>Limited Domestic Liquidity: South Korea’s relatively small investor base can constrain market activity and valuation potential.</li> </ul> By listing in India, Hyundai sought to unlock better valuations for its subsidiary, leveraging the optimism of Indian markets. India’s stock market has a trailing P/E ratio of 24.4, far above South Korea’s Kospi average of 16-17. The Indian market’s appetite for high-growth stories provides a fertile ground for companies like Hyundai to escape the valuation constraints of their home market. A successful IPO could encourage other such conglomerates to follow suit, setting a precedent. While Hyundai India has a robust track record, its future success hinges on navigating key challenges: <ul> <li>Supply Chain Vulnerabilities: Hyundai relies heavily on its Chennai plant, making it vulnerable to disruptions.</li> <li>Intensifying Competition: Domestic rivals like <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> and MG Motors are making aggressive inroads into the EV market.</li> <li>Policy Risks: The automotive sector’s reliance on government incentives for EVs and hybrids adds a layer of unpredictability.</li> </ul> High valuations come with risks. Hyundai will need to prove that it can sustain its growth trajectory in India, fend off competition from established players like Maruti Suzuki and Tata Motors, and navigate challenges such as supply chain disruptions and regulatory hurdles. If Hyundai successfully capitalises on its strong brand and market leadership, it could not only redefine its value but also serve as a case study for other Korean companies seeking better recognition and valuations in global markets. <h3>Is Hyundai saga a reflection of overheated Indian markets?</h3>The bigger question here is, does Hyundai’s IPO highlights a broader narrative about Indian markets’ premium valuations? With a trailing P/E ratio of 24.4, Nifty 50 index is among the highest in emerging markets. India’s stock markets consistently command a premium due to robust retail participation, strong economic growth prospects, and a burgeoning middle class. While this premium reflects optimism about India’s long-term growth story, it also signals potential risks of overvaluation, particularly in sectors like technology, automotive, and consumer goods. With a record ₹94,017 crore outflow by Foreign Portfolio Investors (FPIs) in October 2024, concerns about overheated valuations are mounting. Sustaining such unprecedented valuations required companies to consistently perform above global averages, and retaining robust earnings growth quarter after quarter remains a challenge in today’s uncertain world. For Hyundai, the high valuation is both an opportunity and a risk. While it underscores investor confidence, it narrows the margin of safety, making the stock vulnerable to corrections during economic downturns. Take for example, the high-profile IPO of Life Insurance Corporation of India (LIC) that raised over ₹21,000 crore. Its listing was met with disappointment as the stock began trading at a 9% discount to its issue price, and subsequent performance has remained subdued. LIC’s post-IPO journey also highlights how inflated valuations can lead to long-term underperformance, as the stock gave only 12% return over the past 30 months when even the Nifty 50 index went up by over 44%. This happens when when the company's growth narrative fails to align with its pricing. Despite being a household name with a dominant market share, LIC's stock has struggled to meet expectations, partly due to concerns about its operating efficiency and the limited use of IPO proceeds for growth initiatives. Make no mistake, Hyundai Motor India’s IPO is a landmark event! It showcases the potential for Korean companies to leverage emerging markets like India for better valuations. It also shows that strong fundamentals can help justify a company such premium valuations even amidst bearish economic prospects. However, it also serves as a cautionary tale about the risks of overvaluation. For Hyundai, the next steps involve proving its long-term growth story, navigating competitive challenges, and maintaining investor confidence. For Indian markets, Hyundai’s IPO underscores the need to balance optimism with realistic expectations as they continue to evolve as global investment hotspots. To sustain the country’s economic narrative as a land of unmatched opportunities, corporate India must work on improving long-term fundamentals and mitigating long-term risks. As global investors watch closely, Hyundai India’s success or failure could shape how international companies view India as a listing destination in the years to come.

Tackling the 'Korean Discount': A deep dive into curious case of Hyundai Motor India's market listing

“Ye le beta, humare khaandani sone ke gehne. Ise girvi rakhva de, shayad kuch paise aa jaye ghar main.” How many times have we seen similar dialogues repeat itself in Bollywood films of the 70s and 80s—abject poverty and a frail-looking old mother pleading to her son to pawn the family’s heirloom gold ornaments to a jeweller, all to get a few bucks? Well, if you’d ask that son in 2024, he’d rather hit the loan button on his <keyword id="105386" type="General" weightage="20" keywordseo="Demat-account" source="Orion">Demat account</keyword> than pawn his mother’s gold jewellery. Given how Indians are rapidly resorting to taking loans against their investments in shares and mutual funds, these might as well be a cherished family heirloom in today’s time. Fair warning though; it's not as if gold and loans against it are going down in India’s lending scene. It's very much the opposite, shining brighter than ever! The secured loan category is having its time in the spotlight, and people are certainly looking beyond land and property to get their hands on some extra monies! But what is funding the steep rise behind these loans? And are they as failsafe and secure as they’re made out to be? We decode for you in this week’s Simply Put. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">The great Indian pawning party</h2>Pawning one’s gold has been, by far, the OG Indian financial move to get a loan. That continues well into 2024, and apparently, more so when India decides to wed and celebrate! Data from <keyword id="30067" type="General" weightage="20" keywordseo="RBI" source="Orion">RBI</keyword> suggests that the outstanding amount on gold loans has swelled from Rs 85,009 crore in September 2022 to Rs 1,47,081 crore in September 2024. It looks like Gold took the motto of rise and shine too seriously! Table 1: Growth in gold loans <table class="redcator-table-advance" style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 468pt; font-family: Merriweather; table-layout: fixed; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;"></colgroup><tbody><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Year </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Amount (In Rs crore) </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">September 2022 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">85,009 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">March 2023 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">89,370 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">September 2023 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">97,426 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">March 2024 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">1,02,562 </td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">September 2024 </td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">1,47,081 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: RBI data While the world continues to be riled up in multiple geopolitical crises in 2024, gold has been making merry of these tough times. Thus far this year, <keyword id="3886593" type="General" weightage="20" keywordseo="domestic-gold" source="Orion">domestic gold</keyword> prices have grown by 23%, outperforming benchmark indices like Nifty and Sensex by a mile, which have gone up by 9.85% and 8.86%, respectively. The growth in gold loan disbursal rates month on month this year could also put Nifty and Sensex’s growth to shame. In just September 2024, gold loans grew an astounding 51%, up from 40.9% in August, 30.5% in June, and just 14.8% in March. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">Hey, wait up for me, says LAS</h2>In lockstep with the elder, gold loan sibling, advances against shares and bonds have also been inching up since 2022. Data from RBI (Reserve Bank of India) notes that as of September 2022, the outstanding quantum of loans that were taken against shares (LAS) and bonds stood at Rs 7,397.94 crores. This inched up to Rs 7,764 crore in September 2023. Come 2024, and it looked like this was LAS’ time to shine. Loans swiftly skyrocketed, with outstanding loans in this category going up from Rs 8,492 crore in March 2022 to a staggering Rs 9,546 crore at the end of September 2024. Naturally, the smoke of LAS has its fire in the record inflows that Indians are pouring into the stock market and mutual funds month on month. Per AMFI (<keyword id="134904" type="General" weightage="20" keywordseo="Association-of-Mutual-Funds-in-India" source="Orion">Association of Mutual Funds in India</keyword>), the net AUM (assets under management) of India’s mutual fund industry grew to Rs 67,25,614.61 crores in October 2024, up from Rs 67,09,259.24 crores in September 2024. Even the number of retail mutual fund folios, which include equity, hybrid, and solution-oriented mutual funds, burgeoned to 17,23,52,296 in October, as compared to 16,81,61,366 in September. The same goes for stock investments in India, where the number of new demat accounts that are added every month just simply refuses to climb down. As of last month, total demat accounts in the country stood at 17.9 crore, which is more than the entire population of full-fledged nations like Japan (12.45 crore), Russia (14.38 crore), and Bangladesh (17.3 crore). In fact, since February this year, the monthly growth of LAS has been hitting double digits. From 11.3% in March to 21.6% in May to 26.8% in August, growth in LAS has been exceptional, hitting 22.9% in September this year. For context, monthly growth in the LAS segment was at a mere 5% in September 2023. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">What's driving the growth?</h2>It's a win-win for both the bank and the customer. Customers love them because LAS is available at a lower interest rate compared to unsecured personal loans. You can get a loan at an interest rate of anywhere between 9 and 12% by pledging your gold, MF units, or shares. Compare this to over 10-28% rates, which is the range where unsecured personal loans charge interest. Banks love <keyword id="827883" type="General" weightage="100" keywordseo="Secured-Loans" source="Orion">secured loans</keyword> since they are well-secured. In case you default on paying back, the bank can sell off your gold, shares, or mutual fund units to recover the amount. This takes a lot of stress off the banks, which are already dealing with secured loans’ riskier sibling-<keyword id="947940" type="General" weightage="20" keywordseo="unsecured-lending" source="Orion">unsecured lending</keyword>. High NPAs (non-performing assets) and non-payments in the unsecured borrowing space have already put RBI on red alert, which is why the apex bank is tightening the screws on unsecured lending, which was well on its way to becoming a ticking time bomb. As a result, credit growth has moderated to 12.8% YoY in October, as against the 19.3% rise recorded in the year-ago period. Yet it's not like the banks won't feel the heat. Analysts at Nomura note that <keyword id="23954457" type="General" weightage="20" keywordseo="personal-loan-delinquencies" source="Orion">personal loan delinquencies</keyword> in India that have been overdue by over 90 days rose to 5.1% in the last financial year, as opposed to just 3.9% in the year prior. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">How does it work?</h2>Both these loans work on a similar principle: Your <keyword id="857141" type="General" weightage="20" keywordseo="loan-amount" source="Orion">loan amount</keyword> is equal to a certain percentage of the actual market value of your asset. This is known as the LTV (loan-to-value ratio). In the case of gold and debt mutual funds, RBI mandates that this LTV be about 75-80%. So, for every Rs 100 of gold or debt mutual fund unit you pledge, your maximum loan amount cannot exceed Rs 80. If you pledge gold, which has a market value of Rs 10 lakh, you can take a loan of up to Rs 8,00,000. In the case of shares and mutual fund units, this limit is set at 50%. So, your shares worth Rs 5,00,000 can only get you a loan worth Rs 2,50,000. But the bright side? You can continue earning returns on your investments and pay interest only on the amount you use, since this loan works as an overdraft facility. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">Super safe, you say?</h2>Interest rates on both of these loans are very much dependent on the market value of the asset, which wildly fluctuates on a day-to-day basis. So, in case the value of your asset falls, you’ll have to keep a margin or more of the same asset in order to continue with the loan and maintain the LTV balance. Failure to do so could mean the bank can even sell off your asset. Says financial planner Nema Chaya Buch. “Yes, LAS offers easy availability of funds since these loans come with a lower interest rate as compared to personal loans. Also, you continue to earn average returns of 10–13% on your equity investments. But the downside is, in case of emergency, those pledged securities cannot be sold. Also, if the equity market goes down, then the bank may ask for additional collateral. Raghvendra Nath, MD, Ladderup Wealth Management notes that taking a LAS is best when the value of your securities has appreciated significantly. “This allows you to maximize the loan amount based on your collateral while also addressing financial needs without having to liquidate your investment portfolio. However, there are notable disadvantages to consider. The market risk is significant; a substantial decline in market value could lead to margin calls, which may incur fees and charges if there are delays or prepayments, ultimately increasing the effective cost of borrowing. Furthermore, failure to make timely payments could result in the loss of your assets.”. Umesh Mohanan, ED &amp; CEO, of Indel Money, cautions that one should have a sufficient quantity of gold to get the loan amount one wants. "According to the current RBI rules, the loan applicant/borrower can draw up to 75% of the total market value of the collateral/gold jewellery. So, always carry a sufficient quantity of gold based on one’s loan requirement. “The most important thing is that the valuation of the gold depends on the purity of the gold. If the borrower pledges gold with higher purity, such as 24 carats or 22 carats, he will get the maximum loan amount," he adds.

Secured Loans 2.0 — why more and more Indians are turning to gold, shares and mutual funds to get loans

<ul><li><keyword id="19971142" type="General" weightage="20" keywordseo="Ford" source="keywords" meta.keywordsubtype="org" meta.entityname="Ford" meta.hostid="261" meta.entityid="Ford">Ford</keyword> is all set to make a return to India, with eyes on the international market.</li><li>The company plans on repurposing its Chennai plant to manufacture vehicles for export.</li><li>The company has submitted a letter of intent to the Tamil Nadu government.</li></ul>After several reports about its return to India, popular American automaker Ford has expressed its intent to restart operations at its plant in Chennai, Tamil Nadu. Ford is well known for its popular SUVs such as the Endeavour and EcoSport. Ford had exited the Indian market in 2021 due to declining sales. The company, which had two plants in the country had sold one to Indian automaker <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> and planned a shutdown of the second plant. However, it could not wind down its vehicle and engine manufacturing in Chennai by the targeted timeline of the second quarter of 2022. The company on Friday submitted a letter of intent to the Tamil Nadu government, confirming its intention to utilise the Chennai plant for manufacturing for exports. "This step aims to underscore our ongoing commitment to India as we intend to leverage the manufacturing expertise available in Tamil Nadu to serve new global markets," Ford International Markets Group President Kay Hart said. “We are grateful for the ongoing support from the Tamil Nadu Government as we explored different options for the Chennai plant,” Hart added. The company said the strategic move will see the facility repurposed to focus on manufacturing for export to global markets, as part of the company's Ford+ growth plan. “Ford currently employs 12,000 individuals in Global Business Operations in Tamil Nadu, a number expected to grow by 2,500 to 3,000 jobs within the next three years”, it added. "Combined with the engine manufacturing operations in Sanand, India represents Ford's second-largest salaried workforce worldwide," the company said. The company said that further information about the type of manufacturing and other details will be disclosed later. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Ford is returning to India, expresses intent to restart its Tamil Nadu plant for exports

<ul><li>Jewellers, like every year, have come up with offers to make <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> buying attractive on <keyword id="4067" type="General" weightage="20" keywordseo="dhanteras" source="Orion">Dhanteras</keyword>. </li><li>Experts say that if you are buying <keyword id="6354387" type="General" weightage="20" keywordseo="jewellery" source="Orion">jewellery</keyword> for personal consumption then it is a good time to buy. </li><li>However, if you are buying for the purpose of an <keyword id="6355120" type="General" weightage="20" keywordseo="investment" source="Orion">investment</keyword>, there are other investment avenues. </li></ul>What’s more auspicious than gold, especially as we step into the festive season. Indians believe that the more gold you buy during Dhanteras, the better would be your fortunes. While experts are unsure of how good physical gold is for your portfolio, jewellers are doing their best to bring in consumers into their stores. Capitalising on the love for bling, and women who want to add to their jewellery box, retailers are wooing hard this season. Be it free 1 gm gold coins on purchases, or <keyword id="112217" type="General" weightage="20" keywordseo="discounts" source="Orion">discounts</keyword> in making charges — most jewellers want consumers to go for physical gold. “In addition to our collections, we are offering discounts to our valued customers. We are providing discounts on the making charges for gold jewellery. Our goal is to enable customers to make the most of this auspicious opportunity and get the best offers, particularly for the upcoming wedding season,” says Suvankar Sen, MD &amp; CEO of Senco Gold &amp; Diamonds. Tanishq is currently providing a discount of up to 20% on the making charges for gold jewellery. “Most of the jewellers, be it online or offline offer discounts on making charges to attract customers in the festive season. Some jewellers are offering various freebies, premiums over used gold and even a chance to design a unique piece of jewellery this Diwali,” says Sachin Kothari, director At Augmont Gold For All, an integrated gold player. Now, comes the question of gold as an investment. In spite of gold gaining ground as a safe haven asset in times of volatility and a new war, global gold demand in Q3 2023 dropped by six percent, on reduced interest in gold bars and coins, as well as diminished demand from central banks. As Diwali approaches, the price of gold is on the rise thanks to geopolitical tensions and the US Federal Reserve decision to hold on to high-interest rates. However, India, world's second-largest consumer of gold, is bucking the trend. There is an increase of 10% in gold demand in the same period. Globally, jewellery demand dipped by 1% on account of high gold prices. But here too, Indian jewellers hope that consumer love for gold demand will hold on. <cmsannotation type="cmsannotation" annotationid="Experts not keen on physical assets" comment="Subhead" text="Experts not keen on physical assets">Experts not keen on physical assets</cmsannotation> So, should consumers give in to the temptation of building physical gold assets amidst volatile prices and uncertainty? “Dhanteras is basically a time to make a purchase to grow your wealth. What you should do is an investment and not an expenditure. Jewellery is an expenditure. Making charges can be about 25% and further when you sell it you can lose another 10-15%. So it is not worth it,” says B Srinivasan, director and founder, Shree Sidvin Investment Advisors. Som if you are buying some jewellery for the sake of buying jewellery or as a gift, you can do it. With the various offers jewellers are providing it might be a good time to do that. But this will not serve the purpose of an investment. For those looking at an investment, there are better options than bangles, earrings or necklaces. “If you are buying for consumption then obviously physical gold has no other alternative but if your purpose is pure investment then the best is sovereign gold bond (SGB),” says Anant Ladha, founder, Invest Aaj For Kal, a financial advisory firm. There are three major advantages of SGBs. First, there is no making charges or risk of purity. Further one may get 2.5% additional interest over and above per annum. Though the interest is entirely taxable at current tax slabs, any capital gains earned at the end of eight years is entirely tax free. Investing in gold through digital gold platforms, gold Exchange-Traded Funds (ETFs), and gold mutual funds also offer flexible options to invest in gold. Digital gold allows for easy, small-scale investments, while Gold ETFs provide the convenience of stock market trading. Gold MFs, on the other hand, offer professional management of your gold investments. But then again, will it give the same satisfaction of it hanging on your neck as it will in the portfolio? That’s a call that consumers will have to take.

Jewellers woo consumers this Dhanteras but experts advise caution

<keyword id="19895142" type="General" weightage="100" keywordseo="Shah-Rukh-Khan" source="keywords">Shah Rukh Khan</keyword>, widely known as the "King of <keyword id="19897820" type="General" weightage="20" keywordseo="Bollywood" source="keywords">Bollywood</keyword>," has officially joined the ranks of India’s wealthiest, debuting on the 2024 <keyword id="21075617" type="General" weightage="20" keywordseo="Hurun-India-Rich-List" source="keywords">Hurun India Rich List</keyword> with an impressive wealth of Rs 7,300 crores. But how did a Delhi boy with dreams of making it big in Mumbai become one of India’s richest individuals? Let’s dive into the ventures that propelled King Khan into the billionaires' club. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;"><keyword id="20033371" type="General" weightage="20" keywordseo="Red-Chillies-Entertainment" source="keywords" meta.keywordsubtype="org" meta.entityname="Red Chillies Entertainment" meta.hostid="261" meta.entityid="Red Chillies Entertainment">Red Chillies Entertainment</keyword></h3>Shah Rukh Khan’s production company, Red Chillies Entertainment, has been a significant contributor to his wealth. Founded in 2002, Red Chillies has become a key player in Bollywood, producing blockbuster films and investing in high-quality visual effects. From chart-topping films like Chennai Express and Raees to the massive success of Pathaan in 2023, Red Chillies has consistently delivered box office hits. <div type="Article" hostid="261" msid="112412196" title="&amp;#39;Deadpool &amp;amp; Wolverine&amp;#39; screenwriters reveal secrets and spoilers, including the movie&amp;#39;s original villain and who wrote that Hugh Jackman divorce joke" mstype="2" mssubtype="0"></div>With an estimated revenue consistently in the hundreds of crores and a profit of Rs 85 crores last year, the company has not only cemented SRK’s position as a top actor but also as a successful producer. Furthermore, the company’s VFX division, Red Chillies VFX, has set new benchmarks in the <keyword id="20161413" type="General" weightage="20" keywordseo="Indian-film-industry" source="keywords">Indian film industry</keyword>, working on major projects that have earned critical and commercial acclaim, such as Ra.One, Fan, and Laal Singh Chaddha. These ventures have significantly bolstered SRK’s wealth, making Red Chillies Entertainment a cornerstone of his business empire. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;"><keyword id="19899758" type="General" weightage="20" keywordseo="Kolkata-Knight-Riders" source="keywords" meta.keywordsubtype="org" meta.entityname="Kolkata Knight Riders" meta.hostid="261" meta.entityid="Kolkata Knight Riders">Kolkata Knight Riders</keyword></h3>Shah Rukh Khan’s entry into the sports business with the IPL franchise Kolkata Knight Riders (KKR) has been a masterstroke. Co-owned by SRK, Juhi Chawla, and Jay Mehta, KKR has become one of the most successful and profitable franchises not just in the Indian Premier League, but also in the sporting world. The team’s consistent performance on the field has been matched by its financial success off it, with KKR’s brand value rising steadily over the years. As per Forbes, the cricket team was valued at over $1 billion in 2022. This surge in valuation played a crucial role in boosting SRK’s wealth, contributing significantly to his fortune. The success of KKR, coupled with its passionate fan base and strong marketing, has made it a jewel in SRK’s business portfolio, further solidifying his status as a businessman. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">Brand SRK: The most followed Indian on social media</h3>More than just a business mogul, Shah Rukh Khan is also a brand unto himself. With 44.1 million followers on Twitter, SRK is the most followed individual from the 2024 Hurun India Rich List on Indian social media. His massive <keyword id="20462299" type="General" weightage="20" keywordseo="social-media-presence" source="keywords">social media presence</keyword> has translated into lucrative endorsement deals and collaborations with global brands. <div type="Article" hostid="261" msid="112249289" title="One of Singapore&amp;#39;s flashiest CEOs was planning to throw a Tomorrowland-style party for the books. Then the mirage started to fall apart." mstype="2" mssubtype="0"></div>Consistently being one of the most visible endorsers, SRK earns substantially from <keyword id="20004407" type="General" weightage="20" keywordseo="brand-endorsements" source="keywords">brand endorsements</keyword>, with an estimated fee of Rs 4-5 crores per endorsement. His portfolio includes major brands like Hyundai, Dubai Tourism, and BYJU'S, further adding to his immense wealth. His ability to leverage his celebrity status into profitable business ventures has undoubtedly been a key factor in his <keyword id="21015152" type="General" weightage="20" keywordseo="wealth-accumulation" source="keywords">wealth accumulation</keyword>. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">Real estate</h3>Real estate has always been a key component of wealth building, and Shah Rukh Khan is no exception. Shah Rukh Khan’s <keyword id="22962036" type="General" weightage="20" keywordseo="real-estate-ventures" source="keywords">real estate ventures</keyword> extend far beyond his iconic Mumbai residence, Mannat. One of his lesser-known yet highly lucrative ventures is in Dubai, where he and his wife Gauri Khan launched a luxurious beachfront residential project, the "SRK Boulevard," located in the posh Dana Islands. This mega project, worth over Rs 18,000 crore, features 10 residential buildings with high-end facilities, including marine sports and leisure amenities. Designed by Los Angeles architect Tony Ashai, with interiors by Gauri Khan, this project highlights SRK’s foray into international real estate <h3>And of course, films</h3>Shah Rukh Khan’s earnings from films and endorsements are a significant part of his wealth. Known as one of the highest-paid actors in India, SRK reportedly charges over Rs 100 crores per film. This is certainly no small amount, but it is unlikely that filmmakers will find fault with it, considering how his films regularly break box office records. As per IMdB, both 2023 films Jawan and Pathaan grossed over Rs 1000 crores worldwide. All in all, King Khan’s entry into the Hurun India Rich List is significant not just for him, but for the entire entertainment industry. SRK’s success reflects the growing financial clout of Indian film stars and the increasing importance of entertainment in wealth creation. In 2024 alone, Hurun India Rich Listers from the entertainment industry added Rs 40,500 crores to their wealth, with SRK leading the charge. This trend highlights the expanding influence of Bollywood and the entertainment sector in India’s broader economic landscape.

Baadshah of Bollywood Shah Rukh Khan debuts on India's richest list with Rs 7,300 cr — here's how the King made his wealth

<ul><li><keyword id="19741479" type="General" weightage="20" keywordseo="wedding-gold-sales" source="Orion">Wedding gold sales</keyword> are seeing recycling on account of high prices, but it’s a zero sum-game.</li><li>If allocation of gold is higher than 15% in a portfolio, profits can be booked but that is not strongly advised.</li><li>Experts believe that there will be another spike in <keyword id="46002" type="General" weightage="20" keywordseo="gold-prices" source="Orion">gold prices</keyword> in 2024, once the US Fed changes its stance on interest rates which will shift focus to gold. </li></ul>Jayasri Vadapalli, 54-year-old homemaker from Hyderabad has been trying to exchange her old-fashioned gold jewellery pieces for a while now. After gold prices hit a new-high in December, she was thrilled to hear that the necklace she purchased eight years back is now worth twice what she paid for. “I thought of exchanging it for another set,” she said. But her plans were thwarted as she learnt that she missed the festive-period discount season. As per reports, there has been a surge in people recycling old gold like her, during the ongoing wedding season. Prices are of no consequence as exchanging old gold for new jewellery is a zero-sum game, say experts. “There is no gain to be made when people recycle gold. In fact, it’s a bad idea to exchange when prices are high as no jeweller will give any offers when there is a rush,” Jateen Trivedi, VP and research analyst at LKP Securities tells Business Insider India. Book profits or hold? India is sitting on physical gold holdings which are estimated anywhere between 25,000 to 27000 tonnes. It’s all worth a lot more after the recent spike, but little can be realized from it, as most of it is in the form of jewellery — which is not sold unless there is a specific need or an emergency. “Traditionally, Indians have been advised to safeguard their future by saving or investing in gold. While considering physical gold, it is usually not purchased for investment purposes so they could hold it for their respective purpose,” says Rahul Kalantri, VP Commodities , Mehta Equities. Agrees Trivedi,“There is no woman in India who would sell her jewellery no matter what the prices are or how much profits there are in it unless there is a financial crunch or need for family. The amount of physical gold in the form of bars which is held for trading purposes can be sold to book profits, but that percentage is very low.” It’s very unlikely that even traders would liquidate their holdings, since analysts expect gold to see another spike once the US Fed goes in for rate cuts to support growth. “We advise as much as 10-15% of the portfolio to be in gold holdings. Any incremental holdings can be sold to book profits as we look at gold holding strategically and not tactically. If prices run up a lot, they can be sold to book profits but prospects for 2024 look good, so they shouldn’t miss out on that,” says Ghazal Jain, fund manager of alternative investments at Quantum AMC. Should you buy more? Most experts expect some short-term correction from the all-time high to the tune of 5-7% in the next few months – offering a brief but decisive entry point. “After the first quarter of 2024, we might see another positive cycle after interest rate cuts,” says Trivedi. Jain also says that the outlook is positive even if there could be some volatility in the next few months. “We suggest individuals could consider shifting to Sovereign Gold Bonds, offering the dual advantage of gold investment and earning interest over time,” says Kalantri. There is another factor at play that can offer long-term support to prices is the aggressive central bank purchases of gold. Apart from the yellow metal’s safe haven status, de-dollarization is also adding to its lustre. “One of the main drivers of gold demand is China, India, Russia, and Turkey, which buy record amounts of gold to protect their economy from dollar fluctuations and increase their financial independence,” says a report by Kedia Advisory. China, which is the biggest global buyer of oil, has been in talks with Saudi Arabia to sell them oil in yuan since 2022. “It is possible that the Saudis may have asked for the yuan to be backed by gold, to bolster its lack of free convertibility. This could explain why the Chinese central bank has been buying more and more gold each year,” explains Jamal Mecklai, CEO of Mecklai Financial in his note. China has already announced its goal of raising gold holdings to 5%, and its share at the end of Q2 2023 is at 3.84%. “The possibility that China may see fit to push the share of its gold holdings even higher than 5%, we may well be seeing just the start of a real bull market in gold,” adds Mecklai. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/stellar-listing-gains-book-profits-if-there-are-bumper-gains-say-experts/articleshow/105630290.cms">Stellar listing gains: Book profits if there are bumper gains say experts</a> <a href="https://www.businessinsider.in/stock-market/news/private-equity-vc-players-make-a-killing-as-ipo-rush-yields-them-10000-crore/articleshow/105649353.cms">Private equity &amp; VC players make a killing as IPO rush yields them ₹10,000 crore</a>

Gold rush: Don’t recycle or book profits yet, another bull-run on the way say analysts

<ul><li>The three-day public issue will begin on March 16 and end on March 18.</li><li><keyword id="413856" type="COMPANY" weightage="20" keywordseo="Kalyan-Jewellers">Kalyan Jewellers</keyword> designs, manufactures and sells a wide range of gold, studded and other jewellery products.</li><li>The IPO comprises fresh issuance of equity aggregating up to ₹800 crore and an offer for sale (OFS) worth ₹375 crore.</li></ul>The ₹1,175 crore initial share-sale of Kalyan Jewellers India is set to open for public subscription on March 16. The three-day public issue would conclude on March 18, and the bidding for anchor investors would open on March 15. The company said, on Thursday, that it has fixed a price band of ₹86-87 a share. The IPO comprises fresh issuance of equity aggregating up to ₹800 crore and an offer for sale (OFS) worth ₹375 crore. The company’s promoter, T S Kalyanaraman, would be offloading shares worth up to ₹125 crore, while Warburg Pincus affiliate Highdell Investment would sell up to ₹250 crore worth of shares through the OFS route. The company also plans to reserve shares worth ₹2 crore for eligible employees. <keyword id="9681214" type="UNKNOWN" weightage="20" keywordseo="kalyan-jewellers-ipo">Kalyan Jewellers IPO</keyword> opens next week <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 16 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 18 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹86-87 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum bid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">172 equity shares </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for qualified institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for non-institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for retail investors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr></tbody></table> Kalyan Jewellers designs, manufactures and sells a wide range of gold, studded and other jewellery products. The company started the jewellery business in 1993 with a single showroom in Thrissur district in Kerala and has now completed over 25 years in the jewellery industry with 107 showrooms located across 21 states and union territories. Founded by TS Kalyanaraman, who has over 45 years of retail experience, the company has an international presence with 30 showrooms located in the middle East as of December 2020. Axis Capital, Citigroup Global Markets India, ICICI Securities and SBI Capital Markets are the global co-ordinators and book running lead managers to the offer. In August last year, Kalyan Jewellers had filed preliminary papers for the IPO and obtained Securities and Exchange Board of India’s (SEBI) go-ahead in October. 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Here’s all you need to know about Kalyan Jewellers’ ₹1,175 crore IPO opening on March 16

<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>Jewellery for brides is chunkier and most pieces constitute 30-250 gm weightage, says a <keyword id="113718" type="General" weightage="100" keywordseo="world-gold-council" source="Orion">World Gold Council</keyword> report. </li><li>Rupee gold price has almost doubled since 2012, but it has had little effect on sales. </li><li>Bridal segment is mostly made of 22-carat gold, and dominated by traditional pieces like necklaces or chokers, haars (long chains) jewellery sets, apart from maang teekas and more. </li></ul>An Indian bride is worth her weight in gold. Hence it’s no surprise that <keyword id="182966" type="General" weightage="20" keywordseo="bridal-jewellery" source="Orion">bridal jewellery</keyword> accounts for half of all the jewellery sold in India, according to a World Gold Council report. Also, India is the second largest jewellery market in the world Jewellery for brides is chunkier and most pieces constitute 30-250 gm weightage, unlike the next two categories – daily wear which has lightweight pieces in the 5-30 gm range and account to 35-40% of the total sales. Fashion jewellery, where pieces are even lighter at 5-20 gm of gold, have a 5-10% share. Gold vs destination weddings “Bridal jewellery remains the dominant segment (50-55% market share by weight), despite rising domestic gold prices over the last decade and stiff competition from other luxury purchases, such as destination weddings and foreign holidays,” the report said. The love for gold has sustained the price rise too. The Rupee gold price has almost doubled since 2012. Even as this change made manufactures gradually shift towards lighter weight pieces, bridal jewellery has been relatively price inelastic, losing only around 5-10% market share in that time, as per field research quoted in the report. Going forward, it expects the demand from brides to remain robust. India is a young country with more than half the population below the age of 25 (and 65% under 35). Although there are no official figures for the number of weddings in India, an estimate is between 11-13 million per year, as per the council. “As the average age of marriage for women in India is 22, the number of weddings per annum looks set to remain strong. Considering these numbers, demand for bridal jewellery should remain robust over the long term,” the council predicts. <div type="image" title="bridal jewellery" msid="97168522" hostid="261" sizebytes="101086" caption="&amp;lt;p&amp;gt;Source: Pixabay &amp;lt;/p&amp;gt;"></div> High on purity and tradition Bridal jewellery, unlike other segments, is also skewed towards the high-value pure gold segment. The bridal segment primarily includes 22-carat jewellery and is dominated by traditional pieces like necklaces or chokers, haars (long chains), jewellery sets, apart from maang teekas and more. Daily wear jewellery like mangalsutras, earrings, chains etc. cover all the three segments of 22, 18 and 14-carat gold. However, 22-carat remains dominant with more than 80% of the market, and 18 and 14 carat combined account for a 15-17% share, with both having increased over the last decade. “The growth in lower caratages has been driven by three factors — the growing popularity of modern designs, the increase in rupee gold prices, and the growth of studded diamond jewellery,” says the World Gold Council. Studded diamond jewellery is predominantly sold in lower caratages like 14 and 18 because it is purchased for adornment rather than investment. Also, it is easier to make thinner and more delicate designs in harder alloys (with low carat gold), which again works better when the designer wants to set stones. Online &amp; export sales Indian <keyword id="6379337" type="General" weightage="20" keywordseo="gold-jewellery" source="Orion">gold jewellery</keyword> also has a wide export market especially in countries where a lot of Indians reside. Over the last decade, nearly 90% of India’s jewellery exports have flowed to just five major markets, namely – the UAE, US, Hong Kong, Singapore and UK. While India does export to 146 countries, most of them are extremely small customers including Australia and Canada where a lot of Indian diaspora reside. “Trade bodies also need to help focus a spotlight on Indian craftsmanship, as a large part of Indian jewellery is hand-made – a skill that is appreciated globally,” the report says. Domestically, Indian jewellers are also exploring online and e-commerce options to drive sales. While it currently makes up for only 5-10% of jewellery sold, there is scope for growth, the council believes. “About a decade ago very few jewellery retailers focused on online sales, but today every large and mid-sized retailer has an online platform. Lastly, rising internet access and the advent of social media have allowed retailers to interact directly with their consumers in new ways to create brand awareness and drive sales,” the council says. SEE ALSO <a href="https://www.businessinsider.in/finance/news/gold-prices-hit-life-time-high-amid-looming-recession-hope-that-fed-will-slow-its-rate-hikes/articleshow/97061060.cms">Gold prices hit life-time high amid looming recession &amp; hope that Fed will slow its rate hikes</a> <a href="https://www.businessinsider.in/finance/news/9-in-10-super-rich-indians-get-richer-in-2022-knight-frank/articleshow/97033671.cms">9 in 10 super-rich Indians get richer in 2022, confident of minting money in 2023 too: Knight Frank</a>

Brides buy half of all gold jewellery sold in India says World Gold Council report

<ul class="summary-list"><li><keyword id="11931174" type="UNKNOWN" weightage="60" keywordseo="tiffany-co-" source="Orion">Tiffany &amp; Co.</keyword> said it was no longer buying <keyword id="11974903" type="UNKNOWN" weightage="60" keywordseo="diamonds" source="Orion">diamonds</keyword> that were mined from <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword> as of March 21.</li><li><keyword id="13468246" type="UNKNOWN" weightage="60" keywordseo="signet-jewelers" source="Orion">Signet Jewelers</keyword> announced similar measures last week.</li></ul><keyword id="13468245" type="UNKNOWN" weightage="60" keywordseo="tiffany" source="Orion">Tiffany</keyword> &amp; Co. announced on Friday that it stopped buying new diamonds mined from Russia, according to a statement that was provided to <a href="https://www.bloomberg.com/news/articles/2022-03-25/tiffany-joins-signet-in-banning-new-diamonds-mined-in-russia?srnd=premium&amp;sref=LspfQlRv">Bloomberg.</a>The publication said that the ban does not appear to impact Russian diamonds that are already in the store, as well as diamonds that have already begun the about three-month-long journey from Russia to Tiffany suppliers who cut, polish, and manufacture the gems. The company said the ban would go into effect on all Russian diamonds that have been mined as of March 21.Tiffany &amp; Co. did not respond to a request for comment from Insider."Tiffany has paused the sourcing of all rough diamonds from Russia, as well as serialized diamonds of Russian origin regardless of where they are cut and polished," a Tiffany spokesperson said in a <a href="https://www.barrons.com/articles/tiffany-suspends-russia-diamond-purchases-signet-brilliant-earth-51648217628">statement to Barron's.</a>Tiffany &amp; Co., which is owned by LVMH, has also told suppliers to halt purchases of Russian rough cut gems on the company's behalf, as well as separate the Russian gems from the others, according to Bloomberg. Though, the publication noted it could be difficult for Tiffany &amp; Co. to identify the origin of smaller gems.The jeweler's ban comes shortly after <keyword id="13468247" type="UNKNOWN" weightage="60" keywordseo="signet" source="Orion">Signet</keyword> Jewelers, the owner of Zales and Kay Jewelers, <a href="https://www.bloomberg.com/news/articles/2022-03-17/signet-shocks-diamond-trade-with-refusal-to-buy-russian-gems?sref=LspfQlRv">announced</a> similar measures last week and banned all diamonds that had been mined as of February 24 — the date of Russia's invasion into <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>.US President Joe Biden <a href="https://www.businessinsider.com/biden-announces-us-ban-russian-seafood-diamonds-vodka-punish-putin-2022-3">banned</a> the import of rough cut diamonds from Russia earlier this month. Russian diamonds make up about 30% of the world's rough diamonds and the majority of the gems are mined by Alrosa — a Russian state-backed company, <a href="https://home.treasury.gov/news/press-releases/jy0608">according to the US Treasury.</a>Insider's Hannah Towey <a href="https://www.businessinsider.com/the-future-of-russian-diamonds-hinges-on-shoppers-not-sanctions-2022-3">previously reported</a> that the sanction would have little impact on jewelry retailers in the short term, though the ban could cause diamond shortages and price hikes further down the line. Bloomberg noted that jewelry retailers could easily bypass the sanction as it only impacts rough cut diamonds, which are typically shipped to other countries, most notably India, where the gems are cut and polished before they reach jewelers in the US. These Russian diamonds were not impacted by Biden's decree.Tiffany and Signet's announcements come as US jewelers anticipate a record number of sales this years. Last week, Signet CEO Gina Drosos <a href="https://www.bloomberg.com/news/articles/2022-03-17/signet-jewelers-says-weddings-will-hit-a-40-year-high-this-year?sref=LspfQlRv">told Bloomberg</a> the number of weddings in the US will hit a 40-year high in 2022 due to <a href="https://www.businessinsider.com/its-the-roaring-20s-lavish-weddings-soar-during-booming-wedding-season-2021-10">pent-up demand</a> during the pandemic.

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