JEWELLERS
European jewellers using services of mega CFC for quality testing
The Mumbai-based mega common facility centre (CFC) in the special economic zone (SEZ) is now being used by European jewellers for quality testing. The facility, which was inaugurated by Prime Minister Narendra Modi in January, offers technical services like 3D printing, hallmarking, mass finishing, refining, and casting of gold, platinum, and silver.
IBJA appoints Aksha Mohit Kamboj as Vice President
Aksha Mohit Kamboj is the Executive Chairman of Aspect Global Ventures Pvt Ltd and is also the co-owner of Cricket ISPL team Tiigers of Kolkata. She is the first and the only woman appointed to such a prestigious post in the gold and jewellery sector.
Is Kevin Costner in love with Jewel? This is what actor has said
Kevin Costner was extremely popular and successful in the 1980s and 1990s when he appeared in movies like 'The Untouchables', 'No Way Out', 'Bull Durham', 'Field of Dreams', 'Dances With Wolves' and 'The Bodyguard'. He played the titular character alongside the late superstar artist Whitney Houston in 'The Bodyguard'.
Motilal Oswal initiates coverage in jewellery stocks; sees up to 24-26% upside in Senco Gold & Kalyan Jewellers
Following recent coverage, Kalyan Jewellers saw a 5.3% rise in its shares, reaching a high of Rs 446.65. Similarly, Senco Gold experienced a 3% increase, with shares climbing to a day's high of Rs 1,061.90 on the BSE.
At the Ambani wedding celebrations, a dazzling display of jewels
Anant Ambani-Radhika Merchant Wedding: A tale of opulence and extravagance unfolds as billionaire Mukesh Ambani held a lavish prewedding celebration for his son, showcasing jaw-dropping jewelry pieces with emeralds the size of Popsicles and rare natural pearls. The event, attended by global elite, offered a glimpse into a world of wealth and luxury reminiscent of a bygone era.
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FY24 threw 12 multibagger stock ideas with consistent earnings growth. Which ones to chase?
FY24 featured 12 multibagger stocks with consistent earnings growth in sectors like autos, capital goods, PSUs, power, and infra sectors. Experts shared valuable insights for investors looking to capitalize on market opportunities.
Vivienne Westwood's clothes and jewels headed for auction
An exhibition of the lots will be open to the public at Christie's London from Friday until June 24.
Nearly 20 thieves use sledgehammers to rob Pune-based PNG Jewellers outlet in USA; video goes viral
In a startling incident, a gang of 20 thieves employed sledgehammers to carry out a robbery at a jewellery store in Sunnyvale, California, as revealed by surveillance footage. The group forcibly entered PNG Jewellers, breaking through doors and smashing numerous display cases. Currently, law enforcement authorities have apprehended five individuals in connection with the heist. The investigation remains active, with additional arrests expected in the near future.
Buyers return to stores as gold prices cool down
Gold prices fell by 4.5% in three weeks, boosting consumer sentiment. Mumbai's Zaveri Bazaar, Asia's largest gold market, saw increased activity at jewellers like Joyalukkas and Senco Gold & Diamonds.
Jammu jeweller crafts 3 kg silver lotus for Modi's historic third term as PM
Displaying the well-framed gift, he said he used all his experience and "my soul rests in it. I hope Modi will like this gift as he is like a god to me." His wife Anjali Chauhan said they are eagerly waiting for the opportunity to meet the Prime Minister to hand over this gift to him.
Kalyan Jewellers to acquire balance 15% stake in Candere
Kalyan Jewellers India signed a definitive agreement to acquire the remaining 15% stake in Candere from Rupesh Jain, founder of www.candere.com, for Rs. 42 crore. This move will make Candere a wholly owned subsidiary of Kalyan Jewellers, transitioning from e-commerce to omni-channel commerce.
India's gold imports seen falling as record price prompts jewellery swaps
India's gold imports in 2024 may plummet by nearly 20% from the previous year due to record high prices driving consumers to swap old jewellery for new, according to the India Bullion and Jewellers Association. Rising prices have shifted buyers towards exchanging old ornaments, impacting jewellery demand more than investments.
Gold trade urges introduction of hallmarking for 9-Carat gold amid record prices
The gold trade has called for hallmarking and HUID numbers to be introduced for 9-carat gold amid record-high prices of both gold and silver, making them unaffordable for many. Silver reached ₹92,444 per kg and gold approached ₹75,000 per 10 gm in Mumbai's Zaveri Bazaar. Officials from the India Bullion & Jewellers Association (IBJA) met with BIS executives to discuss the matter. IBJA emphasized that allowing hallmarking for 9-carat gold could enable consumers to purchase heavier jewellery within their budgets.
Silver prices surge to nearly Rs 90,000/kg, still enough room for prices to move north
Silver prices surged to nearly Rs. 90,000 per kg, hitting an all-time high, driven by increased industrial applications and speculation of no immediate reduction in US Federal Reserve policy rates. Within a month, silver prices rose by over 5%, with analysts attributing this surge to growing industrial demand from electric vehicle and photovoltaic solar panel manufacturers. High prices prompted selling of household silver in Mumbai's Zaveri Bazaar. Importantly, silver imports in FY24 rose by about a third, indicating strong industrial procurement and stable prices.
Your 24 karat gold is of 999 or 995 fineness? Check before buying
999 or 995- which is better gold: Many individuals are not aware that there are two ways to measure purity of gold. While karat is generally used for measuring purity of gold in jewellery, the same cannot be said for coins, bars and bullions. This is because fineness also matters while gold coins, bars and bullions.
Meet the Jewel Thief who took over 100 flights, used to steal from flyers’ cabin baggage
Delhi Police arrested a jewel thief at IGI, recovering stolen jewelry and melted gold. The thief targeted seniors, stealing inside aircraft and during security checks, under the pretext of offering help.
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.
High gold prices unable to dampen consumer sentiment during Akshaya Tritiya
On Friday, gold prices were ruling at over Rs 71,000 per 10 grams as against about Rs 60,000 in April last year, registering an increase of 15-17 per cent. World Gold Council Regional CEO Sachin Jain said there was little growth in jewellery demand during the January-March period while April was also a very quiet month.
Kalyan Jewellers Q4 Results: Cons PAT zooms 97% YoY to Rs 137 crore
Jewellery major Kalyan Jewellers recorded a consolidated revenue of Rs 18,548 crore in FY24 as against Rs 14,071 crore in the previous year, a growth of 32%. Consolidated profit after tax (PAT) for FY24 stood at Rs 596 crore, a 36 per cent rise over FY23.
19% annual returns in 10 years on buying gold on Akshaya Tritiya; should you invest in gold this year too?
Gold price has increased by 18% to Rs 71,502 for 10 grams with 999 purity since the last Akshaya Tritiya. Investing during this period has historically yielded attractive returns due to various factors such as price cyclicality, holding period, and discipline in investment. Safe havens like gold may see increased demand amidst global uncertainties and currency depreciation impacting prices. Experts recommend a 15% allocation to gold for a balanced risk profile.
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.
Gold prices today: Gold jewellery rates of Kalyan Jewellers, Tanishq, Malabar Gold
Latest gold price of top jewellers in India: The majority of Indians believe that purchasing gold during festival occasions is auspicious and would benefit both individuals and families by bringing money and good fortune.
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 prices soften ahead of Akshaya Tritiya, boosting jewellers' expectations
Jewellers anticipate rising Akshaya Tritiya sales with lower gold prices. Demand increasing for everyday diamond jewellery and solitaires. Shift in consumer buying pattern towards high quality solitaire diamonds. Silver price growth surpassing gold as dependable asset classes.
PC Jeweller gets board's approval to raise Rs 2,000 cr fund via rights issue, convertible warrants
PC Jeweller plans to raise Rs 2,000 crore through rights issues and preferential allotment. Share capital and memorandum changes approved. Proceeds to clear financial liabilities, subject to lender approval.
Gold hits a new record, best month in over 3 years
Though MCX remained closed on account of Good Friday, prices of 24k gold were quoting above Rs 70,000 per 10gm (including import duty & GST) in the local market. With the yellow metal closing at an all-time high of $2,233, Indian Bullion and Jewellers Association national secretary Surendra Mehta said it may well open $30-40 higher on Monday.
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