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 Futures Open Higher
Gold and Silver Prices Had Been Declining Over The Past Few Sessions Amid Expectations Of Further Interest-Rate Increases By The US Federal Reserve.
Gold and silver prices had been declining over the past few sessions amid expectations of further interest-rate increases by the US Federal Reserve. Buying at lower levels, however, helped both metals recover on Thursday, October 8.
Gold futures opened higher. On the MCX, the benchmark December gold contract opened Rs 586 higher at Rs 1,49,689 per 10 gram. The previous close was Rs 1,49,103.Today the contract was trading Rs 517 higher at Rs 1,49,620.
In the global market, gold futures on Comex were trading near $4,160 per ounce, while silver was trading near $60.40 per ounce. In the domestic market, gold futures on the Multi Commodity Exchange (MCX) were trading near Rs 1,49,600 per 10 gram at the time of writing, while silver futures were trading near Rs 2,23,900 per kg.
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