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
MCX Gold Declines, Silver Crashes By Rs. 6,000/kg
The Sharp Sell-Off Comes On The Heels Of A Hawkish Stance By The US Federal Reserve, Fueling Expectations Of Prolonged High Interest Rates.
Indian bullion markets witnessed a massive correction today as gold and silver prices tumbled under heavy global pressure. Domestic 24K gold rates slipped toward the Rs. 1.47 lakh per 10 grams mark on the Multi Commodity Exchange (MCX), while silver suffered a brutal meltdown, crashing by nearly Rs. 6,000 per kilogram.
The sharp sell-off comes on the heels of a hawkish stance by the US Federal Reserve, fueling expectations of prolonged high interest rates. A surging US Dollar Index coupled with geopolitical anxieties—including a lingering US-Iran blockade and persistent global inflation fears—dragged international spot gold down to $4,151.89 per ounce, triggering a ripple effect across Indian retail hubs.
MCX Gold (10g): Rs. 1,47,175 (Down 1.4% intraday)
- Silver Crash: Shed a staggering ~Rs. 6,000 per kg in a single session.
- Primary Triggers: Persistent hawkish Fed commentary, a robust US dollar, and profit booking at higher levels
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