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.
Nick Jonas is not trying to modernise the mangalsutra, but his gesture shows that choices can be equal. If commitment must be flaunted, it need not be gendered.
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