National News
Shringar – House of Mangalsutra files IPO papers with SEBI
Leading mangalsutra brand Shringar House of Mangalsutra has filed IPO papers with SEBI to raise *Rs 250 crore* for working capital & general corporate purposes. The IPO is entirely a fresh issue of *2.43 crore equity shares.
Financial Performance
Fiscal 2024 Revenue: ₹1,101.52 crore (up 16% from ₹950.22 crore in FY23)
* Profit After Tax (PAT) for FY24: ₹31.10 crore (up 33% from ₹23.36 crore in FY23)
H1 FY25 (as of September 30, 2024)
Revenue: ₹687.13 crore
PAT: ₹33.03 crore
National News
MCX Gold Sees Slight Decline Driven By A Firming US Dollar Index
The Dip In Domestic Gold Prices Reflects Broader Pressure Across Precious Metals Globally As Bullion Markets Adjust To International Currency Dynamics
Gold futures contracts trading on the Multi Commodity Exchange of India (MCX) registered a slight decline during Wednesday’s trading session, driven by a firming US dollar index and ongoing investor caution ahead of key global macroeconomic releases.
The MCX Gold December futures contract was quoted at Rs 1,48,274 per 10 grams, down Rs 1,269 or 0.85% from its previous close.
The dip in domestic gold prices reflects broader pressure across precious metals globally as bullion markets adjust to international currency dynamics.
Firm US Dollar: Strength in the US Dollar Index continues to make dollar-denominated commodities more expensive for international buyers, weighing on sentiment across major commodity exchanges.
Macroeconomic Data Expectations: Market participants are adopting a cautious stance ahead of upcoming international inflation data and macroeconomic policy signals, which are expected to shape near-term central bank monetary stances.
MCX Gold Sees Slight Decline Driven By A Firming US Dollar Index
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