DIGITAL GOLD TO JEWELLERY
Naveen Trivedi's top stock picks from jewellery sector
Consumers accepting these brands even in a market where they are new because now the kind of design, the kind of product differentiator which they are finding it in newer brands, the acceptance levels are very high. So that is why I would say this category tailwinds are still driving the top players to keep expanding stores.
Elevated gold prices to restrain jewellery consumption growth to 6-8% in FY25: ICRA
ICRA forecasts a slowdown in India's jewellery consumption growth to 6-8% in FY2025, down from 18% in FY2024, citing elevated gold prices dampening consumer sentiment. Volume is expected to contract after marginal growth in previous years. Despite stable gold prices post-April 2023, a 14% rise in FY2024 boosted revenues amid muted volumes. Operating margins are projected at 7-8% amidst rising competition, with retailers expanding cautiously amid subdued consumer demand.
Everything you expect from physical gold can be done faster, better with digital gold: SafeGold CEO
SafeGold, a digital platform, redefines gold investment with innovative ways to buy, sell, and store vaulted gold. Founder Gaurav Mathur envisions a global standard for digital gold transactions using a technology-driven ecosystem. The company's revenue grew by 35% to Rs 6,100 crore in FY24, maintaining profitability and aiming for faster profit growth.
Organised jewellery retailers likely to witness 17-19 pc revenue growth in FY25: Report
The report further stated that the working capital requirements of retailers might increase due to higher inventory levels resulting from the substantial rise in gold prices and new store additions. However, credit profiles should remain stable, it added.
Organised gold jewellery retailers to achieve strong revenue growth in FY25: CRISIL
A CRISIL Ratings report forecasts 17-19% annual revenue growth for organised gold jewellery retailers in fiscal 2025, driven by higher gold prices. Retailers plan marketing efforts to counter demand moderation. Operating profitability may slightly decrease due to increased inventory. Organised retailers will continue gaining market share, with stable credit profiles despite rising working capital debt.
Akshay Tritiya: Malabar Gold & Diamonds, Bhima Jewellers, and Kalyan Jewellers report strong sales
Jewellers from South India such as Malabar Gold & Diamonds, Bhima Jewellers, and Kalyan Jewellers saw strong demand during this year's Akshay Tritiya. Malabar Gold and Diamonds reported a 39% increase in sales, totaling Rs. 1361 crore. Kalyan Jewellers also noted robust revenue growth, with Bhima Gold experiencing over 50% sales growth compared to last year.
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Kalyan Jewellers, Sky Gold, 2 more jewellery stocks turned multibaggers since last Akshaya Tritiya
As India marks Akshaya Tritiya today, it's worth noting that the Sensex has surged by 12,750 points, moving from 59,655 on April 21, 2023, to 72,404 on May 9, 2024.
22KT, 18KT, 14KT gold price today from Indian Bullion and Jewellers Association (IBJA)
Gold prices on Akshaya Tritiya: If an individual is buying gold jewellery, then they should know the prevailing gold price of 22KT, 18KT or 14KT. This is because these are purity karats used for making gold jewellery. Usually, one cannot buy gold jewellery made of 24 Karat of gold. Read on to know the current gold prices.
Gold delivers 16% gains from last Akshaya Tritiya. What is the outlook for next year?
The cost of 10 grams of gold currently deviates by approximately Rs 3000 or 4% from its peak value. Gold enthusiasts can seize the chance to purchase the precious metal on the auspicious occasion of Akshaya Tritiya, slated for May 10, Friday.
Gold jewellery cost calculation: How jewellers calculate price of gold jewellery
Jewellers calculate gold jewellery price: While buying gold, many people do not check or know how the final bill amount is calculated by the jeweller for the gold jewellery. Further, some of them are unaware if they are buying 22 Karat gold jewellery or 18 Karat gold jewellery. There is a price difference between 22 Karat and 18 Karat gold jewellery.
How to check purity of gold jewellery? Three signs to check for hallmarking
Hallmarking signs on gold jewellery: If you are buying gold jewellery, then it is important to ensure that it is hallmarked. This is because hallmarking of gold jewellery with HUID number is mandatory. Hallmarking on gold jewellery done by BIS ensures that gold bought is of particular purity. Read on to know more about the hallmarking signs.
Intrinsic opportunity for jewellery business very strong: CK Venkataraman, Titan Company
The businesses like eyecare in the last few months have really picked up and we are very bullish on those as well. Taneira continues to do well, international business is doing well. So, from a growth side, everything is really doing well and we just need to execute to generate the profit growth. We are all committed to that and we will know when the results actually come out, of course.
Check purity of gold using BIS app: Here’s a step-by-step guide to check gold hallmarking
How to check puity of gold: Customers can get their samples or jewels checked at any BIS-Recognized Assaying & Hallmarking Centre. Also, they can check authenticity of the hallmarking, download the BIS CARE application.
Gold, silver prices hit record high ahead of Gudi Padwa and Ugadi
Gold price hits record high at Rs 71,080 per 10 gm, impacting jewellery sales before Hindu festivals. Silver also peaks. Sector braces for tepid demand amidst geopolitical tensions and interest rate cut prospects.
Gold jewellery price today: Gold rates of Tanishq, Malabar Gold, Joyalukkas, Kalyan Jewellers
Gold rate today in India: Due to its ability to act as a hedge against inflation, deflation, and currency depreciation, gold is a favourite asset among many Indian investors.
Sovereign gold bonds no threat to physical trade of the precious metal, says World Gold Council CEO
Gold demand and prices are expected to rise in 2024 due to geo-political uncertainties, debt crisis, and central bank purchases. India's sovereign gold bonds will encourage investors to see gold as an alternative asset class. Efforts are being made to bridge the trust deficit and improve transparency in the gold industry.
Senco becomes first Indian jewellery brand to join ONDC Network
Kolkata-based jewellery brand, Senco Gold & Diamonds, made a significant announcement on Friday. They proudly revealed that they have become the first Indian jewellery brand to join the Open Network for Digital Commerce (ONDC) Network. This integration marks a crucial step for Senco Gold and Diamonds, as it will now make their extensive catalogue accessible on multiple shopping apps within the growing ONDC Network.
PhonePe, CaratLane join hands to enable jewellery purchase with digital gold
PhonePe and CaratLane announced their partnership to enable consumers to purchase jewellery by redeeming their accumulated Digital Gold. Consumers can redeem their Digital Gold for a jewellery of their choice at CaratLane and avail up to 7% extra on redemption amount. This strategic alliance aims to revolutionise the way people acquire and gift beautiful everyday jewellery.
Bitcoin vs gold: Which one is a better investment option?
One of the key reasons investors are drawn to both gold and Bitcoin is their finite supply. Gold's scarcity has been the primary driving factor behind its historical value, but Bitcoin takes this concept to the next level.
Gold price today of 22 Karat, 18 Karat, 14 karat from India Bullion and Jewellers Association
If you are planning to buy gold jewellery, then it is important to know gold prices of 22 Karat, 18 Karat and 14 Karat gold. This is because one can buy gold jewellery of these Karats only. 24 Karat is considered too soft to make the jewellery. Given below are current price of gold of 22 Karat, 18 Karat and 14 Karat from IBJA.
Gold jewellery price today: Gold rates of Tanishq, Malabar Gold, Joyalukkas, Kalyan Jewellers, top branded jewellers
It's critical to comprehend the gold prices of the gold companies. The following list includes the gold prices for four prominent jewellery companies in the country.
Dhanteras sees double-digit growth in demand for gold jewellery: Titan
“If you look at gold prices between this year and last year, in a similar time period, there is about a 13-14% increase in gold price. It is a combination of everything, rise in both footfall and gold price, which has driven this double-digit growth that we are expecting to see.”
Minimalistic, everyday jewellery steals the spotlight this Dhanteras
Jewellers are focusing on minimalistic and everyday jewellery during the Dhanteras festival, with gold prices rising by Rs 9,000 per 10 gm compared to the previous year. Tanishq CEO Ajoy Chawla reports a significant upswing in customer sentiment, with new collections like Dharohar, Rivaah X Tarun Tahiliani's bridal jewellery, and String It receiving significant traction.
How to test the authenticity and purity of Gold and Silver using your mobile
On the auspicious day of Dhanteras, the Bureau of Indian Standards (BIS) has launched the 'BIS Care App' to address concerns about the purity of gold and silver jewellery. The app allows users to track ISI and hallmark-certified jewellery, verify the authenticity of hallmarked gold items, and check the purity of jewellery articles.
Dhanteras 2023: Buying gold for the first time? 4 ways to avoid wasting money on counterfeit jewellery
It would be wise to triple-check the jewellery, before you part with your hard-earned cash.
Buying gold jewellery this Dusshera, Diwali? How to check purity of gold jewellery using BIS app
Many individuals buy gold during upcoming festivals, however, they should make sure that they buy the hallmarked jewellery and confirm the same.
Gold hallmarking: What are the charges to get gold jewellery hallmarked
The third phase of the mandatory hallmarking vide Hallmarking of Gold Jewellery and Gold Artefacts (Third Amendment) Order, 2023 came into force from September 8, 2023.
Gold buying: 6 ways to buy and invest in gold
Gold buying and investing: You can buy and invest in gold via various routes. Here is a look at six ways you can buy and invest in the yellow metal.
In this era of digital, paper gold, why buying gold jewellery or bullion can still work for you
While there has been an all round push only for advocating digital or paper gold, the physical gold in the form of gold jewellery, coin or bullion is still indispensable for a good part of population. With all the merits of cost efficiency and safety of digital or paper gold the sentimental value of touch and feel that physical gold brings, can not be replaced. Read on as why the physical gold can still work for you.
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