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
Tanvi Exports Files DRHP For Proposed IPO
The Company Proposes To Raise Funds Through An IPO Comprising A Fresh Issue Of Up To 3,580,000 Equity Shares and An Offer For Sale (OFS) Of Up To 3,580,000 Equity Shares
Tanvi Exports India Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for its proposed initial public offering (IPO).
The Rajkot-based company designs, manufactures and exports fine gold jewellery and accounts for around 8% of Gujarat’s overall gold jewellery exports.
The company proposes to raise funds through an IPO comprising a fresh issue of up to 3,580,000 equity shares and an Offer for Sale (OFS) of up to 3,580,000 equity shares. The shares will have a face value of Rs 10 each.
The net proceeds from the fresh issue will be used towards repayment or pre-payment of certain outstanding borrowings, funding incremental working capital requirements and general corporate purposes.
Revenue from operations increased from Rs 1,374.60 million in fiscal 2024 to Rs 10,084.05 million in fiscal 2025 and further to Rs 11,399.36 million in fiscal 2026, representing a CAGR of 188% over the period. The company’s export business also expanded from a single UAE order worth Rs 43.40 million in fiscal 2024 to export revenue of Rs 2,457.46 million across five countries in fiscal 2025.
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