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Gold Jewelery

SRS Jewells launches two wholesale units

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SRS Jewells, the flagship brand of SRS Ltd., a multi business group has launched its wholesale outlets in Zaveri Bazar, Mumbai & in Ahmedabad. The group “c also of Rsl, 800 crores in the FY 2011-12. Dr. Anil Jindal, chairman, SRS Group, said, “The jewellery vertical has proved itself to be our top performing business in terms of revenues, profitability ... Read More »

Low monsoon may weaken gold demand in India: HSBC

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Indian farmers are watching the progress of the annual monsoon rains, which have been lighter than normal. If rains do not improve, physical gold demand in India could be hit, said HSBC Holdings plc (HSBC) in a commodity research note. James Steel, HSBC analyst stated that typically, a good monsoon results in a good harvest, which in turn boosts agricultural ... Read More »

Titan’s jewellery income up 7.8%

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Titan Industries Ltd recorded an income growth of 9.2 per cent in an extremely challenging Qiof 2012-13. While the sales income grewfrom Rs 2020.51 crores last year to Rs 2205.65 crores in Q1, the profit after tax (PAT) for the same period grew by 8.8 per cent to Rs 156.09 crores from Rs 143.51 crores last year. The company’s profit ... Read More »

Malabar Gold strengthens its presence in Saudi Arabia

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Malabar Gold and Diamonds, the Kerala based jewellery group, as a part of expansion, launched its showroom at Makkah, Saudi Arabia, the holy city with a unique history and cultural diversity. The store located opposite King Fand Gate of the Grand Mosque, is the group’s 70th outlet worldwide and fifth in Saudi Arabia. The group is also planning to increase ... Read More »

Thangamayil Jewellery Q1 profit rises 42%

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Thangamayil Jewellery Ltd. reported that its financial first-quarter profit increased 42 per cent year on year to US$2.7 million from US$1.9 million a year earlier. Growth was motivated by higher sales, which increased 61 per cent year on year to US $64.7 million in the period that ended on June 30, 2012. The company, which owns jewellery stores in the ... Read More »

TBZ posts total income of Rs 2,835 mn in Q1 FY 2013

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Tribhovandas Bhimji Zaveri (TBZ) Limited, a well known and trusted jewellery retailer in India, has posted Total Income (standalone) of Rs 2,835 million for the quarter ended June 30, 2012. TBZ clocked a Net Profit of Rs 162.69 million for Q1 FY 2013 despite a tough economic environment, higher gold prices, jewellers strike and fewer wedding-festive occasions. Shrikant Zaveri, chairman ... Read More »

Damiani, the Italian jewellery brand plans to enter India

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Italian jewellery brand Damiani has approached the government of India for seeking authorization to enter the country’s single-brand retail sector and has filed an application with the Foreign Investment Promotion Board (FIPB) in the Finance Ministry. Damiani S.p.A., the parent company of the Damiani Group, is one of the leading companies in the Italian manufacturing and trade sectors for jewellery ... Read More »

BIS to revise hallmarking prices

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Speaking on the occasion of the foundation stone laying ceremony of the Northern Regional Office building of Bureau of Indian Standards (BIS), Chandigarh, Rajiv Agarwal, secretary, ministry of consumer affairs, said that BIS would revise the hallmarking charges for jewellery articles. According to the new price list Rs 25 will be charged per article and minimum charges for a consignment ... Read More »

Demand for gold loans set to revive in India

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After a significant drop in business in the quarter ended June, leading gold loan companies are set to see a reversal of fortunes. Leading gold loan company Muthoot Finance reported a five per cent decline in assets under management (AUMs) in the jewellery loan category at Rs 23,082.1 crore in quarter ended June. compared with Rs 24,417.3 crore in the ... Read More »

Gold demand expected to remain soft in Q3: Commerzbank

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Commerzbank, the second-largest bank in Germany after Deutsche Bank, said that gold demand in India remains worrisome for the market. Citing a report of the Bombay Bullion Association, it said that Indian gold imports from September to December will likely be just 200 to 250 metric tons on the back of record-high gold prices in the local currency, high inflation ... Read More »