National News
Gold continues its winning streak : Augmont Bullion report
Gold continues its winning streak
Gold maintains its winning streak above $3025 (~Rs 88500) as Trump’s tariffs are projected to exacerbate inflation and economic turmoil. Trump said he would hold Iran accountable for any strikes carried out by the Houthi group it supports in Yemen, as his administration escalated the largest US military operation in the Middle East since Trump came to the White House.
Central banks’ accumulation of gold reserves, inflation concerns, and rising demand after the pandemic have contributed to the surge in gold prices.
The Fed is expected to maintain its benchmark interest rate in the 4.25%-4.50% range after its two-day policy meeting on Wednesday.
Technical Triggers
Gold Apr Futures after achieving the $3000 (~Rs 88000) milestone, now is expected to extend this run up towards $3035 (~Rs 88800) and $3080 (~Rs 90000) in the coming weeks. After that, we can see some retracement and profit-booking, which can extend down to $2800 and $2700 maximum.While Silver May Futures has also climbed above $34(~Rs 100,000) on strong demand, the next resistance for the prices is $35(~Rs 103,000).
National News
Deepa Jewellers Lists At Rs 221, A 25% Premium
The Offer Was Subscribed 42.61 Times, Led By Non-Institutional Investors (105.96x), Qualified Institutional Buyers (37x), and Retail Investors (18.55x)
Shares of Hyderabad-based Deepa Jewellers made a strong stock market debut on Sept. 8, listing at a nearly 25% premium to their issue price following high demand for its Rs 459.72-crore ($55 million) initial public offering.
The stock opened at Rs 221 on the National Stock Exchange (NSE) and Rs 221.05 on the BSE, compared to the offer price of Rs 177.
Oversubscribed: The offer was subscribed 42.61 times, led by non-institutional investors (105.96x), qualified institutional buyers (37x), and retail investors (18.55x).
Capital Deployment: Proceeds from the Rs 250-crore fresh issue component will primarily fund long-term working capital (Rs 215 crore) to scale inventory. The IPO also included an offer for sale worth Rs 209.72 crore.
Financials: The B2B 22-carat gold jewellery supplier reported FY26 revenue of Rs 1,926.68 crore, up from Rs 1,397.01 crore in FY25. Net profit surged 158% year-on-year to Rs 104.79 crore.
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