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Express Tribune
22-05-2025
- Business
- Express Tribune
Gold jumps Rs6,600 on global rally
Globally, gold prices rose for a third straight session, helped by a softer dollar and safe-haven demand amid economic and geopolitical uncertainty. photo: Reuters Listen to article Gold prices in Pakistan surged on Wednesday in tandem with gains in the international market, where bullion extended its upward streak for a third consecutive session, reaching a one-week high. The global rally was driven by a softer US dollar and renewed safe-haven demand amid prevailing economic and geopolitical uncertainty. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola in the domestic market rose sharply by Rs6,600, settling at Rs349,400. Similarly, the rate for 10 grams increased by Rs5,659 to Rs299,554. A day earlier, gold prices had edged up by Rs300 per tola, reaching Rs342,800. Adnan Agar, Director at Interactive Commodities, noted that while gold is currently trading around $3,310 in the international market, it faces significant resistance near the $3,350 level. "There is potential for further upside if this resistance is breached, possibly pushing prices toward $3,380 and $3,420," he said. "However, if the market fails to break this level, a pullback toward $3,280 or even $3,270 is likely." He added that trading remains relatively subdued, with gradual movement and limited momentum compared to previous sessions. Market activity may also be affected by the upcoming US bank holiday on Monday, which could influence global trading volumes and price direction in the short term. Globally, gold prices rose for a third straight session on Wednesday and hit a one-week high, helped by a softer dollar and safe-haven demand amid economic and geopolitical uncertainty. Spot gold was up 0.7% at $3,312.51 an ounce, as of 1553 GMT. US gold futures climbed 0.9% to $3,315.60. The US dollar fell 0.6% against a range of other currencies, making gold less expensive to buy for overseas currency holders. Wall Street's main indexes slipped and government bond yields rose, as investors closely watched a pivotal debate over US President Donald Trump's tax-cut bill that has fanned concerns about the country's growing debt. The Pakistani rupee weakened slightly against the US dollar in the interbank market on Wednesday, posting a minor depreciation of 0.02%. By the day's end, the local currency closed at 281.97, slipping by five paisas compared to the previous day's close of 281.92. Ismail Iqbal Securities wrote that on a cumulative basis, the local currency has depreciated by 1.21% since the beginning of the calendar year (CYTD) and by 1.29% since the start of the fiscal year (FYTD).
Business Recorder
22-05-2025
- Business
- Business Recorder
Gold prices post huge gains
KARACHI: Gold continued with big strides on Wednesday as world market registered huge gains, crossing $3,300 per ounce, traders said. Local gold prices grew by Rs6,600 per tola and Rs5,659 per 10 grams, marking the fifth consecutive session of gains. This rise was driven by a $66 surge in global bullion prices, trading at $3,310 per ounce. Thus, the fresh surge took the gold prices to Rs349,400 per tola and Rs299,554 per 10 grams, according to All Pakistan Sarafa Gems and Jewellers Association. Domestic silver prices soared by Rs56 and Rs49, reaching Rs3,466 per tola and Rs2,971 per 10 grams, respectively. International market closed silver trading at just over $33 per ounce, the association added. Copyright Business Recorder, 2025
Express Tribune
21-05-2025
- Business
- Express Tribune
Gold prices continue to rise in local, global markets
Listen to article Gold prices in Pakistan rose on Wednesday, following gains in the international market. Locally, gold per tola increased by Rs6,600 to close at Rs349,400, while 10-gram gold was sold at Rs299,554, up by Rs5,659, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Tuesday, gold per tola had reached Rs342,800 after gaining Rs300. Internationally, gold prices jumped to $3,310 per ounce with a $20 premium, a $66 increase, as reported by APGJSA. Meanwhile, silver prices also rose by Rs56 to Rs3,466 per tola. Globally, gold gained 0.2% on Tuesday, supported by a weaker dollar and cautious optimism over US-China trade talks and progress in Russia-Ukraine peace negotiations. The dollar index fell 0.2%, making gold more affordable for holders of other currencies.
Business Recorder
21-05-2025
- Business
- Business Recorder
Gold price per tola jumps Rs6,600 in Pakistan
Gold prices in Pakistan increased on Wednesday in line with their rise in the international market. In the local market, gold price per tola reached Rs349,400 after it gained Rs6,600 during the day. Similarly, 10-gram gold was sold at Rs299,554 after increasing by Rs5,659, according to the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Tuesday, gold price per tola reached Rs342,800 after it accumulated Rs300 during the day. The international rate of gold also jumped on Wednesday. The rate was at $3,310 per ounce (with a premium of $20), a gain of $66, as per APGJSA. Meanwhile, silver price per tola increased by Rs56 to Rs3,466. Internationally, gold prices eked out gains on Tuesday, buoyed by a lower dollar, while investors cautiously turned their attention to further developments in Russia-Ukraine peace talks and US tariff policy. Spot gold was up 0.2% at $3,236.94 an ounce as of 1102 GMT. US gold futures gained 0.2% to $3,239.40. The dollar index was down 0.2% against its rivals, making gold less expensive for other currency holders. 'Main focus of traders in the gold market today is on the optimism around the US-China trade and also on renewed hopes for progress towards peace in the Russia-Ukraine conflict,' Ricardo Evangelista, senior analyst at brokerage firm ActivTrades, said.
Yahoo
15-05-2025
- Business
- Yahoo
Shree Cement Ltd (BOM:500387) Q4 2025 Earnings Call Highlights: Strong Growth in Sales and ...
Total Sales Volume: Increased to 9.84 million tonnes, up 13% from 8.67 million tonnes sequentially. Average Valuation per Tonne: Improved by 5% to INR4,768 from INR4,554 sequentially. EBITDA: INR1,383 crores, representing a growth of 47%. EBITDA per Tonne: Increased by 29% to INR1,406 from INR1,088 sequentially. Adjusted EBITDA per Tonne: INR1,437, accounting for a one-off item of INR30.66 crores. Green Energy Share: 60.2% of total energy consumption in Q4 FY25. Green Power Generation Capacity: 582 megawatts, up 21% from 480 megawatts at the beginning of FY24-25. Installed Cement Capacity: Increased to 62.8 million tonnes in India. Premium Product Sales Share: Increased from 11.9% in Q4 2024 to 15.6% in Q4 FY25. Additional Provision for ECL: INR24 crores for legal notices issued. Warning! GuruFocus has detected 8 Warning Signs with BOM:500387. Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Shree Cement Ltd (BOM:500387) reported a 13% increase in total India sales volume, reaching 9.84 million tonnes in Q4 FY25. The company's EBITDA for the quarter grew by 47%, with EBITDA per tonne increasing by 29% to INR1,406. The company achieved a significant milestone with 60.2% of its energy consumption coming from green energy sources, one of the highest in the industry. Shree Cement Ltd (BOM:500387) received an ESG rating of Care Edge ESG 1 with a score of 70.8%, highlighting its leadership in managing ESG risks. The company launched several premium products, increasing the share of premium product sales from 11.9% to 15.6% year-over-year. Despite the positive results, the company faces challenges with capacity utilization, which remains around 65%, indicating underutilization of its installed capacity. The company incurred a one-off cost of INR30.66 crores due to a voluntary separation scheme, impacting its financials. Shree Cement Ltd (BOM:500387) made an additional provision of INR24 crores for expected credit losses, reflecting a more conservative accounting approach. The company's strategy to focus on profitability over volume growth may limit its market share expansion in a competitive industry. There are concerns about the impact of new capacity additions on pricing and market dynamics, especially with the industry's supply overhang. Q: What is the outlook for volume growth in FY26, given the recent capacity expansions? A: Ashok Bhandari, Senior Adviser, explained that the strategy is to focus on profitability rather than volume. The company expects a volume growth of 6.5% to 7.5% for FY26, with a target of reaching 39 million tonnes. The focus will remain on balancing volume and price to maximize profitability. Q: Can you elaborate on the branding strategy and its impact on pricing? A: Neeraj Akhoury, Managing Director, stated that the company is focusing on improving brand equity through premium products and technical work in the field. The strategy is consistent across regions, aiming to enhance brand strength and improve pricing. Q: What are the plans for capacity expansion, particularly in North India? A: Neeraj Akhoury mentioned that the company is targeting Central and East UP markets with the new Ita plant. The North plants will cater to various markets, including Jammu and Kashmir, Gujarat, and West MP. The company is also exploring opportunities in Jaisalmer for future expansion. Q: How does the company plan to manage the trade-off between volume and pricing in a supply overhang scenario? A: Ashok Bhandari emphasized that the company aims to be the most profitable rather than the largest volume player. The focus is on maximizing cash profit and net profit through a strategic mix of volume and pricing, considering market conditions and competition. Q: What is the status of the RMC business, and what are the future plans? A: Neeraj Akhoury shared that the RMC division is relatively new, with about 15 plants currently operational. The company plans to expand rapidly, aiming for at least 50 RMC units. Some plants are already EBITDA positive, particularly in Mumbai and Hyderabad. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
