The IPO by Kalyan Jewellers comes as gold consumption is set to rebound this year in India after plunging to the lowest in more than two decades in 2020.
Covid and weak economic growth are likely to push sales below last year’s 194 tons to the lowest quarterly numbers since 2008, according to a consultant at Metals Focus Ltd.
The rebound in demand follows a nearly 80% drop in imports between January and June and comes as India slowly eases restrictions put in place to control the Covid outbreak.
The value of PC Jeweller has dropped after one of its founders gifted some shares to family members through off-market transactions, bringing the company's governance into question.
Indians see West Asia as one uninterrupted wash of Islam, but the reality is more complex. For the Druze, support from Israel—where they are a recognised minority—is now critical.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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