The price of 10 grams of 24-carat gold closed the week at Rs 1,20,100 down from Rs 1,20,770 last week, according to data published by the India Bullion and Jewellers Association (IBJA).
The passive industry Assets Under Management (AUM) stood at Rs 12.2 lakh crores, a 6.4-fold increase in six years (36% CAGR), from Rs 1.91 lakh crores in 2019.
Responding to rumours on social media that claimed MOAMC money managers may have been bribed to stock up on Kalyan Jewellers, the financial services major categorically denied “the baseless, malicious, and defamatory allegations”.
This sharp growth was due to robust consumer demand and stocking up ahead of upcoming festivals including Akshaya Tritiya in May 2021.
The report said that the Earnest Money Deposit (EMD) indicates that Bharti and RJio may be interested in spending 2-3x the renewal requirement in other bands and Vodafone Idea has limited options given its liquidity position.
It said that the companies during the second quarter of the ongoing fiscal year witnessed a sharp rise in sales and most of them crossed their estimated numbers.
Wholesale volumes for tractors are expected to grow. The volume is expected to zoom by 38.4 per cent YoY on robust demand and lower base.
The "BULLS & BEARS (November 2020): India Valuations Handbook" noted that in the last financial year, the market-to-GDP ratio fell to 56 per cent from 79 per cent in FY19.
Contribution of systematic investment plans (SIPs) declined for the fourth consecutive month to Rs 7,830 crore (down 1.1 per cent MoM), the brokerage tracker report showed.
The report said that as the COVID-19 pandemic is still not contained in India and partial lockdowns have been re-introduced in some parts of the country.
