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Just as India gears up to celebrate Dhanteras tomorrow, in some good news for Indians, <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">gold prices</keyword> today witnessed a dip of about Rs 10, with 24-carat gold currently valued at Rs 8,045.3/gram and 22-carat gold at Rs 7,376.3/gram. As per the <keyword id="23632186" type="General" weightage="20" keywordseo="All-India-Sarafa-Association" source="keywords" meta.keywordsubtype="org" meta.entityname="All India Sarafa Association" meta.hostid="261" meta.entityid="All India Sarafa Association">All India Sarafa Association</keyword>, gold prices fell by Rs 400 to Rs 81,100/10 grams in Delhi today. However, silver remained flat at Rs 99,500 per kg. Meanwhile, gold of 99.55 purity declined Rs 400 to Rs 80,700 per 10 grams on Monday. The value of gold as a symbol of wealth and prosperity in our culture is no secret, which is why Indians look forward to buying it on auspicious, festive occasions like Dhanteras. Moreover, with the wedding season setting in, the demand for gold is only set to increase in the months to come. At 24%, the yellow metal's annual return in 2024 has been nothing less than glittering. Compare this with the 14.88% returns gold delivered in 2023. The last time gold returns skyrocketed was at the peak of the pandemic, i.e., in 2019-2020, when gold's annual yields were at 24.45% and 28.24%, respectively. In 2024, gold's demand as a safe investment avenue has only skyrocketed. <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">Geopolitical tensions</keyword> and inflationary pressures have pushed not just individual investors but even central banks to make a beeline for the yellow metal. During the second half of this year, India's RBI and Poland's National Bank were among the largest buyers of gold. Per a report by <keyword id="20046776" type="General" weightage="20" keywordseo="Religare-Broking" source="keywords" meta.keywordsubtype="org" meta.entityname="Religare Broking" meta.hostid="261" meta.entityid="Religare Broking">Religare Broking</keyword>, global official reserves of gold burgeoned by 290 metric tons during the first quarter of 2024. The momentum continued well into the second quarter as well, with global central bank gold purchases jumping by 6% to 183 tons during this period. "We continue to believe that gold has further upside potential wherein any dips could present buying opportunities. According to our recent quarterly report, a correction of 5-7% is plausible and could serve as an accumulation zone," note experts at Motilal Oswal Financial Services. <h2>Returns-wise, how has gold performed?</h2> Data from CapitalMind PMS suggests that between 2000 and 2024, gold has outperformed Nifty and silver in about 7 years. Nifty has been a clear winner overall, outpacing gold and silver in 12 out of 25 years in review. Silver only managed to inch past gold and Nifty in just 6 years. Per data, gold returns peaked at 29.9% in 2011, largely on the back of global financial uncertainty. Years where gold has delivered 20%+ returns <table 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;" class="redcator-table-advance"></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;">Gold Returns (in %) </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;">Nifty Returns (in%) </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;">2002 </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;">24.1 </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;">5.3 </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;">2008 </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;">24.5 </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;">-51.3 </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;">2009 </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;">24.9 </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;">77.5 </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;">2010 </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;">21.7 </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;">19.2 </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;">2011 </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;">29.9 </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;">-23.8 </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;">2019 </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;">22.9 </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;">13.5 </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;">2020 </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;">27 </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;">16.1 </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: CapitalMind PMS Not just in India, gold has delivered returns exceeding domestic equity markets in most emerging countries like Turkey and Argentina. Per the DSP Netra October report, over the last 26 years, equity markets in Turkey have delivered 21.2% returns, as opposed to gold, which has generated 29.3% returns during the same period. Similarly, in Argentina, equity markets have delivered 38.4% returns, while gold saw 44.3% returns in the same time frame. <h2>Stay put for Silver</h2> However, if experts at Motilal Oswal Financial Services are to be believed, the performance of silver could either match or outperform gold in the medium to long term, as <keyword id="20762025" type="General" weightage="20" keywordseo="silver-prices" source="keywords">silver prices</keyword> are expected to reach Rs 1,25,000 per kilogram on the Multi Commodity Exchange (MCX) and USD 40 per ounce on the COMEX within the next 12 to 15 months. In fact, even the YTD (yield to date) for silver is higher at 31.1% as compared to gold, which stands at 22.6%. However, do not go overboard with silver allocation in your portfolio.

Ahead of Dhanteras 2024, how has gold glittered so far this year?

A massive selloff in the <keyword id="44794" type="PERSON" weightage="20" keywordseo="Equity-market">equity market</keyword> eroded Rs 4,23,139.78 crore from investors' wealth in a single trading session on Monday. Markets witnessed significant selling pressure in the second half of trade and the 30-share <keyword id="723721" type="PERSON" weightage="20" keywordseo="BSE-benchmark-index">BSE benchmark index</keyword> ended 811.68 points or 2.09 per cent lower at 38,034.14. Following weakness in the equity market, the market capitalisation of BSE-listed companies plummeted by Rs 4,23,139.78 crore to Rs 1,54,76,979.16 crore. On Friday, the market capitalisation of BSE-listed companies was at Rs 1,59,00,118.94 crore. "Indian benchmark indices succumbed to profit booking in the second half of the trading day. It was in sync with global cues which turned negative following surge in infections in various countries including in Europe," <keyword id="9976351" type="COMPANY" weightage="20" keywordseo="geojit-financial-services-head">Geojit Financial Services Head</keyword> of Research Vinod Nair said. "Additional restrictions were being considered in Europe following an increase in infections," he added. IndusInd Bank was the top loser in the Sensex pack, tumbling 8.67 per cent, followed by Bharti Airtel, Tata Steel, <keyword id="6653" type="COMPANY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword>, M&amp;M, Maruti and Axis Bank, while Kotak Bank, Infosys and TCS were the only three gainers from the 30-share frontline companies list. "Markets started the week on feeble note and lost nearly 2.5 per cent, following weak global peers. The first half was lackluster. However, significant selling pressure was witnessed in the latter half. "We feel rising COVID-19 cases combined with correction in the US markets spooked investors," Ajit Mishra, VP - Research, <keyword id="3530822" type="COMPANY" weightage="20" keywordseo="religare-broking-ltd">Religare Broking Ltd</keyword> said. On the BSE, 2,165 companies declined, while 595 advanced and 178 remained unchanged. In the broader market, the BSE smallcap and midcap indices declined up to 3.61 per cent. All BSE sectoral indices closed in the red, with BSE telecom, realty, metal and auto tanking up to 5.77 per cent. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms" data-type="tilCustomLink">INTERVIEW: Angel Broking CEO believes the ₹600 crore IPO will ride the ‘digital’ euphoria</a> <a href="https://www.businessinsider.in/tech/news/tiktoks-deal-with-oracle-and-walmart-lets-it-cling-on-to-its-most-valuable-asset-its-algorithm/articleshow/78235845.cms" data-type="tilCustomLink">TikTok's deal with Oracle and Walmart lets it cling on to its most valuable asset — its algorithm</a>

Sensex sinks 800 points, Nifty cracks below 11,300 — global selloff eroded ₹4.23 lakh crore from investor wealth

New Delhi, <keyword id="9769347" type="UNKNOWN" weightage="20" keywordseo="cloud-major-oracle">Cloud major Oracle</keyword> on Monday announced that <keyword id="10468571" type="UNKNOWN" weightage="20" keywordseo="several-indian-businesses">several Indian businesses</keyword> like Polycab, Religare Broking and Mphasis have moved on to its second-generation cloud services in the country, amid the rising demand for secure, enterprise-grade Cloud services. Other Indian firms subscribing to Oracle's Cloud applications and infrastructure include <keyword id="438553" type="PERSON" weightage="20" keywordseo="Omega-Healthcare">Omega Healthcare</keyword>, Nippon Life India Asset Management, GTPL Hathway, IFFCO, Lipi Data Systems, Infocepts, RXIL and ARCIL. "Over the last 4-5 years, we have doubled our overall customer base and have nearly 1,000 strategic partners in our network. All this is a reflection of Oracle emerging as the cloud provider of choice for our customers," said Shailender Kumar, Regional Managing Director, Oracle India. Oracle offers enterprise-grade security and performance out of two local Cloud regions in Hyderabad and Mumbai, as well as 29 others worldwide, seen as critical by Indian organisations wanting to accelerate their digital journey and future-proof their business. "We are fully geared up to help organisations of all sizes and from all industries, unlock new value from their data in the New Year, aiding faster innovation and growth recovery, while enhancing their end customer experience," Kumar said in a statement. Oracle said its nearly 1,000 channel partners in India now play a key role in driving growth in the country, as part of the modernised <keyword id="3679824" type="COMPANY" weightage="20" keywordseo="Oracle-PartnerNetwork">Oracle PartnerNetwork</keyword> (OPN 2020) which is enabling channel partners to prepare for a Cloud-first world. "With our cloud migration capabilities and investments in Cloud Adjacent Data Centres, Sify is making it easier for customers to embrace Oracle <keyword id="408916" type="PERSON" weightage="20" keywordseo="cloud-infrastructure">Cloud Infrastructure</keyword> led hybrid cloud adoption in India," said Sify's CEO Kamal Nath. In the recent 2020 SaaSPath survey from IDC, Oracle was rated among the most-trusted SaaS vendors, and scored highly on robust data security, high availability, and value. "We have almost minimal spend on maintenance and operations now that we are using Oracle Cloud ERP. We strongly believe that as a long term strategy, this transformation will give us the much needed spur for growth," said Pradeep Paliwal, CTO, Religare Broking. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-say-if-you-should-subscribe-or-not-to-the-300-crore-ipo-of-antony-waste-handling-cell/articleshow/79790998.cms">Antony Waste Handling Cell ₹300-crore IPO opens today — these are the risks and opportunities</a> <a href="https://www.businessinsider.in/business/startups/news/the-founder-of-sugar-cosmetics-explains-how-the-startup-clocked-a-60-growth-in-sales-during-the-pandemic/articleshow/79832966.cms">The founder of SUGAR cosmetics explains how the startup clocked a 60% growth in sales during the pandemic</a> <a href="https://www.businessinsider.in/business/startups/news/pine-labs-valuation-crosses-2-billion-as-it-raises-fresh-funds-from-lone-pine-capital/articleshow/79833738.cms">Pine Labs' valuation crosses $2 billion as it raises fresh funds from Lone Pine Capital</a>

Polycab, Religare Broking and Mphasis move on to 2nd Gen Oracle Cloud to boost growth

New Delhi, Apr 21 () Religare Broking, the arm of financial services group Religare Enterprises, on Tuesday said it has witnessed a whopping 50 per cent upswing in trading volumes from online platforms during the nationwide lockdown.The company's trading volumes have shot up, especially on its mobile app- Religare Dynami - driven by a significant behavioural shift by traders and investors towards self-execution model, even as the firm has ensured near total operational continuity as it moved to 100 per cent work from home mode for client servicing and operations team.Besides, leveraging of relevant technology such as cloud telephony-based solutions as well as seamless new e-collection mode of payments for customers, who are otherwise used to transferring funds through physical cheques and net banking, have sustained this spike.The growth has been seen since the nationwide lockdown was imposed.''We were able to adapt to the situation quite early and ensured that the critical operations were up and running from home,before the lock-down. We ensured that even while we shift to a work-from-home model, business continues with minimal disruption and client needs are addressed in real-time through smart and efficient use of technological solutions," Religare Broking CEO Nitin Aggarwal said in a statement."As a result, our online trading platforms, both the web portal and the 'Dynami' mobile app have actually seen a spike in number of active customers and transactions during the period of the lock-down," he added.The same approach to business continuity has been followed by other subsidiaries of Religare Enterprises, which has allowed the Group to continue operations without any business disruption. SP MR

Religare Broking sees 50 pc upswing in online trading during lockdown

New Delhi, Jun 3 () Religare Enterprises Ltd on Wednesday said it has raised Rs 300 crore by divesting stake in group firm Religare Health Insurance Company Ltd (RHICL) to Kedaara Capital. Consequent to the capital raising, the company said it has retired previous loan and has become completely external debt free. Earlier in April, Religare Enterprises Ltd (REL) informed about the proposed divestment of part of the investment of the company in Religare Health Insurance Company Ltd (RHICL) to Kedaara Capital Fund II LLP. Kedaara Capital has acquired the stake through its subsidiary Trishikhar Ventures LLP (jointly referred as Kedaara). In this regard, the divestment of part of the investment of the company in RHICL and infusion of primary capital in RHICL by Kedaara was completed on Tuesday, REL said in a regulatory filing. "The total primary capital raised by RHICL from Kedaara is amounting Rs 300 crore. This is in line with Kedaara's additional subscription commitments wherein they had agreed to subscribe for the additional primary capital of Rs 100 crore in addition to their initial commitment of subscribing to primary capital of Rs 200 crore in RHICL," it said. REL said the total investment made by Kedaara to acquire shares of RHICL is Rs 567.31 crore, which comprises primary capital infusion of Rs 300 crore in RHICL and Rs 267.31 crore for the purchase of RHICL shares from existing shareholders, including purchase of 6.39 per cent stake from the company against a consideration of Rs 200 crore. Pursuant to these transactions, the shareholding of REL in RHICL now stands at 72.02 per cent on a paid-up capital basis. Further, it said that consequent to capital infusion by Kedaara, it has settled loan of Axis Bank. "Out of the mentioned consideration received from the divestment of stake in RHCIL, the company has utilised Rs 153 crore towards the payment of the full and final settlement consideration under the consent agreement dated October 1, 2019, entered by the company and its subsidiaries with Axis Bank Ltd," it said. With this, the company said it has become external debt-free. Core investment company REL is engaged into lending, broking and insurance business through its subsidiaries. "The settlement of our financial dues, much ahead of the prescribed time frame demonstrates our commitment to resolve all legacy issues and move forward on the path to revival," said Religare Enterprises Ltd Executive Chairperson Rashmi Saluja. REL Chief Financial Officer Nitin Aggarwal said that while there were many headwinds and legacy issues, we have successfully resolved most of them and others are on the path to resolution. Among them, the Axis settlement stands out as an important milestone as it has made Religare Enterprises external debt-free. He said REL has been on a course correction mode for the past two years and the company is steering the ship to ensure that all businesses perform to their full potential and accelerate growth. After achieving the important external debt-free milestone, the company is well positioned to address all the requirements of other subsidiary businesses as well, REL added. The healthcare insurance business is growing at almost 50 per cent CAGR (compound annual growth rate) over the past three years, and REL expects it to continue to grow at the same rate going forward. The broking business has stabilised and started growing in 2020-21. The company exuded confidence that for a turnaround in the current financial year owing to strong underlying group financial position on the back of long-term measures undertaken by the new board and management. KPM HRS

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Ahead of Dhanteras 2024, how has gold glittered so far this year?

Ira Alok Puranik

Sensex sinks 800 points, Nifty cracks below 11,300 — global selloff eroded ₹4.23 lakh crore from investor wealth

PTI

Polycab, Religare Broking and Mphasis move on to 2nd Gen Oracle Cloud to boost growth

IANS

Religare Broking sees 50 pc upswing in online trading during lockdown

PTI

Religare Enterprises raises Rs 300 cr by divesting stake in RHICL to Kedaara Capital

PTI

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