National News
SAIF Partners pares around 6% stake in Senco Gold for Rs 433 cr
Hong Kong-based SAIF Partners on Thursday pared a 5.8 per cent stake in jewellery retailer Senco Gold for Rs 432.72 crore through an open market transaction
Hong Kong-based SAIF Partners on Thursday pared a 5.8 per cent stake in jewellery retailer Senco Gold for Rs 432.72 crore through an open market transaction. SAIF Partners, through its arm SAIF Partners India IV Ltd, sold shares of Kolkata-based Senco Gold on the BSE.
According to the bulk deal data available on the BSE, SAIF Partners India IV offloaded 45,07,487 shares, amounting to a 5.8 per cent stake in Senco Gold.
The shares were disposed of at an average price of Rs 960.02 apiece, taking the deal value to Rs 432.72 crore.After the share sale, SAIF Partners’ shareholding in Senco Gold declined to 4.97 per cent from 10.77 per cent.
Details of the other buyers of Senco Gold’s shares could not be ascertained.Shares of Senco Gold gained 1.30 per cent to close at Rs 964.35 per piece on the BSE.
National News
Gold Rates In India Decline, Silver Rates Unchanged
Investors Are Cautious Over The US-Iran Peace Negotiations
Gold rates in India dropped by up to Rs 4,300 per 100 grams on May 23, while silver rates in the country were unchanged. This is after spot gold recorded its second consecutive weekly decline due to elevated crude oil prices amidst inflation woes. Crude is currently at 4-year highs, and investors are cautious in global and MCX markets over the US-Iran peace negotiations, as both countries have stalled so far.
Domestic Gold Yields: Experienced a negative variance of up to Rs 4,300 per 100 grams, marking a second consecutive weekly contraction phase.  Domestic Silver Yields: Exhibited a flatline trajectory, demonstrating 0% delta day-over-day.
MCX Benchmarks (Friday Close): Gold breached its support level, dipping below the Rs 1.59 lakh threshold. Silver concluded the weekly cycle compressed below Rs 2.72 lakh per 1 kg.
Spot Market Liquidity: Spot Gold retracted by ~1%, stabilizing at a $4,516/oz. Spot Silver absorbed the brunt of the market correction, declining ~2%Â to settle sub-$76/oz.
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