National News
India’s gold demand improves as prices dip
Gold demand in India saw a slight improvement towards the week’s end as prices fell from record highs, yet remained below normal levels. Discounts in China persisted due to low activity, and India’s imports are predicted to drop significantly by 85 per cent in February. Meanwhile, gold trades in Singapore, Hong Kong, and Japan show varying premiums and discounts.
India’s gold demand improved in the second half of this week but remained lower than normal as prices retreated from all-time-high levels, while traders continued to offer discounts in China as activity remained lacklustre. Domestic gold prices were trading around 84,750 rupees per 10 grams on Friday after hitting a record high of 86,592 rupees last week.
Indian dealers this week offered a discount of $12-$27 an ounce over official domestic prices, inclusive of 6 per cent import and 3 per cent sales levies, down from the last week’s discount of $35.
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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