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.
The design of India’s oppression and mismanagement regime balances the dual objectives of corporate law: protecting minority shareholders and curtailing opportunistic use.
Premier David Eby, the leader of the minerals- and gas-rich province of British Columbia, spoke with executives at Tata Steel and Reliance Industries on a trade mission to India.
Overall, President Droupadi Murmu has approved Gallantry awards to 70 armed forces personnel, including six posthumous, on the eve of 77th Republic Day.
No nation other than China can negotiate one-on-one with Trump on an equal footing. That’s why the middle powers who so far formed the core of multilateral bodies now feel orphaned.
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