National News
MCX Gold and Silver Decline Ahead Of Key US Economic Data
Investors Are Waiting For Upcoming US Inflation Reports and The Next US Federal Reserve Policy Meeting Before Making Big Moves.
Gold and silver prices slipped on India’s Multi Commodity Exchange (MCX) on Thursday morning. Investors are waiting for upcoming US inflation reports and the next US Federal Reserve policy meeting before making big moves.
MCX Gold (October Futures): Down 0.03% to Rs 1,53,710 per 10 grams. MCX Silver (December Futures): Down 0.39% to Rs 2,43,249 per kg.
Awaiting US Data: Traders are watching US inflation metrics—specifically the producer and consumer price indexes—to guess whether the Fed will change interest rates. Most market analysts expect the Fed to keep interest rates unchanged at its September meeting.
Global Market Split: While Indian prices fell slightly, international gold prices actually edged higher. A weaker US dollar made gold cheaper for buyers using other currencies, giving global prices a small boost despite rising oil prices and bond yields.
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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