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Time of India
6 days ago
- Business
- Time of India
ICICI Securities downgrades Gujarat Fluorochemicals to Hold, revises target price to Rs 3,790
ICICI Securities has downgraded Gujarat Fluorochemicals to Hold from Buy earlier, with a revised target price of Rs 3,790 (earlier Rs 4,160). The current market price of Gujarat Fluorochemicals is Rs 3821.4. Gujarat Fluorochemicals, incorporated in 2018, is a Mid Cap company with a market cap of Rs 42064.86 crore, operating in the chemicals sector. Gujarat Fluorochemicals' key products/revenue segments include Fluorochemicals, Bulk Drugs & Chemicals, Export Incentives, Other Operating Revenue, Scrap, Carbon Credit for the year ending 31-Mar-2024. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thon An Quynh: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 1251 crore, up 7.66% from last quarter Total Income of Rs 1162 crore and up 8.66% from last year same quarter Total Income of Rs 1151.32 crore. The company has reported net profit after tax of Rs 191.00 crore in the latest quarter. The company's top management includes Kumar Jain, Prakash Jain, Prakash Lohia, Swarup, Prashad Jain, Agnihotri, Kumar Muppirala, Kapoor, Kumar Jain, Bhargava. Company has Patankar & Associates as its auditors. As on 31-03-2025, the company has a total of 11 crore shares outstanding. Live Events Investment Rationale Gujarat Fluorochemicals' Q4FY25 print was impacted by lower sales of bulk chemicals with production disrupted for 20 days due to incident in Dahej. It expects fluoropolymers revenue to grow 25% in FY26 with higher volume in new fluoropolymers, and steady rise in PTFE volume. R-32 capacity commissioning has been expedited, and may now start in H2FY26, therefore, supporting fluorochemicals. GFL remains confident of approvals, and contracts in battery chemicals for LiPF6 salt, and binders immediately with potential billing to commence in H2FY26. ICICI Securities cut the EPS for FY26/27E by 3-9% and reduced target price to Rs 3,790 (from Rs 4,160), valuing the stock at FY28E P/E multiple of 30x (unchanged); downgrade to HOLD (from Buy). Promoter/FII Holdings Promoters held 62.58 per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.63 per cent, DIIs 10.7 per cent.
Economic Times
28-05-2025
- Business
- Economic Times
Gold prices predicted to fall up to Rs 93,000/10 gms. Here's what analysts say
Around 11 am, the metal saw buying interest from lower levels, rising 0.36% to trade at Rs 95,490 per 10 grams, a gain of nearly Rs 350 from Tuesday's closing price. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads How to trade gold? Gold has support at Rs 94,800-94,400 and resistance at Rs 95,500-96,000 Silver has support at Rs 96,650-96,000 and resistance at Rs 98,250-99,100 Tired of too many ads? Remove Ads Gold rates in physical markets Gold Price today in Delhi Gold Price today in Mumbai Gold Price today in Chennai Gold Price today in Hyderabad Amid a rebound in the dollar index , gold June futures contracts at MCX opened flat at Rs 95,230/10 grams, marginally higher by Rs 87 or 0.09% after the yellow metal settled lower in the previous trading around 11 am, the metal witnessed buying from the lower levels and was trading 0.36% higher at Rs 95,490/10 gm. This is a surge of nearly Rs 350 from its closing price on silver July futures contracts recovered from their day's low on Tuesday and also opened higher by Rs 566 or 0.58% at Rs 98,041/ Tuesday, gold and silver settled on a weaker note in the domestic and international markets. Gold June futures contract settled at Rs 95,143 per 10 grams with a loss of 0.83% and silver July futures contract settled at Rs 97,475 per kilogram with a loss of 0.54%.Gold and silver showed heavy selling pressure in the international markets amid a rebound in the dollar index after the postponement of the trade tariffs by the U.S. President of the European Union. The dollar index recovered from 1-month lows and the U.S. equity markets also gained, easing some safe-haven buying for precious the US Dollar Index, DXY, was hovering near the 99.80 mark, gaining 0.28 or 0.28%.The U.S. durable goods orders data and consumer confidence data released on Tuesday were also better than expected and pushed bullion prices lower. However, the U.S. trade tariff uncertainty and geopolitical tensions could support prices of precious metals at lower levels.'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, geopolitical tensions and ahead of the FOMC meeting minutes; gold prices could hold its support level of $3,200 per troy ounce and silver prices could also hold $31.80 per troy ounce levels on a weekly closing basis,' said Manoj Kumar Jain of Prithvifinmart Commodity Kumar Jain suggested the following ranges for gold and silver on MCX:Jain suggests buying gold and silver until they hold their key support level of Rs 94,400 and Rs 96,650, respectively, on a closing basis. He further noted that gold could retest Rs 96,000 and silver could also retest Rs 98,250-99,000 levels in the upcoming prices are witnessing volatility due to a lack of triggers. Profit booking is typically witnessed from higher levels on account of easing geopolitical tensions between Israel and Hamas and ongoing tariff relief measures, reducing safe-haven demand.'In the international market, Comex gold is expected to trade in a lower range of $3,250 to $3,325, while the domestic outlook now shifts to Rs 93,000–Rs 96,000,' noted Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Gaglani, Senior Research Analyst - Commodities at Axis Securities, echoed a similar sentiment, stating, 'Looking ahead, volatility is expected to remain elevated this week, with key macro triggers including the release of FOMC meeting minutes and prelim U.S. GDP data'.Standard gold (22 carat) prices in Delhi stand at Rs 58,144/8 grams while pure gold (24 carat) prices stand at Rs 62,024/8 gold (22 carat) prices in Mumbai stand at Rs 57,624/8 grams while pure gold (24 carat) prices stand at Rs 61,464/8 gold (22 carat) prices in Chennai stand at Rs 56,928/8 grams while pure gold (24 carat) prices stand at Rs 60,728/8 gold (22 carat) prices in Hyderabad stand at Rs 56,840/8 grams while pure gold (24 carat) prices stand at Rs 60,568/8 grams.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
28-05-2025
- Business
- Time of India
Gold prices predicted to fall up to Rs 93,000/10 gms. Here's what analysts say
Live Events How to trade gold? Gold has support at Rs 94,800-94,400 and resistance at Rs 95,500-96,000 Silver has support at Rs 96,650-96,000 and resistance at Rs 98,250-99,100 Gold rates in physical markets Gold Price today in Delhi Gold Price today in Mumbai Gold Price today in Chennai Gold Price today in Hyderabad (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Amid a rebound in the dollar index , gold June futures contracts at MCX opened flat at Rs 95,230/10 grams, marginally higher by Rs 87 or 0.09% after the yellow metal settled lower in the previous trading around 11 am, the metal witnessed buying from the lower levels and was trading 0.36% higher at Rs 95,490/10 gm. This is a surge of nearly Rs 350 from its closing price on silver July futures contracts recovered from their day's low on Tuesday and also opened higher by Rs 566 or 0.58% at Rs 98,041/ Tuesday, gold and silver settled on a weaker note in the domestic and international markets. Gold June futures contract settled at Rs 95,143 per 10 grams with a loss of 0.83% and silver July futures contract settled at Rs 97,475 per kilogram with a loss of 0.54%.Gold and silver showed heavy selling pressure in the international markets amid a rebound in the dollar index after the postponement of the trade tariffs by the U.S. President of the European Union. The dollar index recovered from 1-month lows and the U.S. equity markets also gained, easing some safe-haven buying for precious the US Dollar Index, DXY, was hovering near the 99.80 mark, gaining 0.28 or 0.28%.The U.S. durable goods orders data and consumer confidence data released on Tuesday were also better than expected and pushed bullion prices lower. However, the U.S. trade tariff uncertainty and geopolitical tensions could support prices of precious metals at lower levels.'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, geopolitical tensions and ahead of the FOMC meeting minutes; gold prices could hold its support level of $3,200 per troy ounce and silver prices could also hold $31.80 per troy ounce levels on a weekly closing basis,' said Manoj Kumar Jain of Prithvifinmart Commodity Kumar Jain suggested the following ranges for gold and silver on MCX:Jain suggests buying gold and silver until they hold their key support level of Rs 94,400 and Rs 96,650, respectively, on a closing basis. He further noted that gold could retest Rs 96,000 and silver could also retest Rs 98,250-99,000 levels in the upcoming prices are witnessing volatility due to a lack of triggers. Profit booking is typically witnessed from higher levels on account of easing geopolitical tensions between Israel and Hamas and ongoing tariff relief measures, reducing safe-haven demand.'In the international market, Comex gold is expected to trade in a lower range of $3,250 to $3,325, while the domestic outlook now shifts to Rs 93,000–Rs 96,000,' noted Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Gaglani, Senior Research Analyst - Commodities at Axis Securities, echoed a similar sentiment, stating, 'Looking ahead, volatility is expected to remain elevated this week, with key macro triggers including the release of FOMC meeting minutes and prelim U.S. GDP data'.Standard gold (22 carat) prices in Delhi stand at Rs 58,144/8 grams while pure gold (24 carat) prices stand at Rs 62,024/8 gold (22 carat) prices in Mumbai stand at Rs 57,624/8 grams while pure gold (24 carat) prices stand at Rs 61,464/8 gold (22 carat) prices in Chennai stand at Rs 56,928/8 grams while pure gold (24 carat) prices stand at Rs 60,728/8 gold (22 carat) prices in Hyderabad stand at Rs 56,840/8 grams while pure gold (24 carat) prices stand at Rs 60,568/8 grams.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
20-05-2025
- Business
- Economic Times
Gold Price Prediction: Gold prices off Rs 6,500 from peak. Time to buy now?
Live Events How to trade gold? Gold has support at Rs 92,750-92,200 and resistance at Rs 93,850-94,400 Silver has support at Rs 94,800-94,000 and resistance at Rs 96,000-96,650. Gold rates in physical markets Gold Price today in Delhi Gold Price today in Mumbai Gold Price today in Chennai Gold Price today in Hyderabad (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mirroring the sentiment in the international market, Gold June futures contracts at MCX opened lower on Tuesday at Rs 92965/10 grams, which was down by Rs 332 or 0.36%, while silver July futures were lower at Rs 95,172/kg. This was a fall of Rs 281 or 0.29%.Today's fall in gold prices marks a decline of Rs 6,513 in the metal from its peak of Rs 99,358/10 grams. However, in the last one week, the prices have been highly volatile, but largely remaining in early trade on Monday, gold and silver tested higher resistance levels Moody's downgrade of the US credit rating last Friday, but failed to sustain the rally, slipping below $3,320 and $32.20 per ounce as renewed optimism about a potential ceasefire between Russia and Ukraine reduced safe-haven on Monday, gold and silver settled on a positive note in the domestic and international markets. Gold June futures contract settled at Rs 93,297 per 10 grams with a gain of 0.93% and silver July futures contract settled at Rs 95,453 per kilogram with a gain of 0.14%.Moody's shows concerns about higher U.S. debts and downgrades its rating from 'Aaa' to 'Aa1'. Safe-haven buying emerged once again in precious metals after U.S. rating dollar index also plunged and tested 100 marks and also supported gold and silver prices. Today, the US Dollar Index, DXY, was hovering near the 100.36 mark, falling 0.07 or 0.07%.'The Russia-Ukraine peace deal hopes amid the U.S. President's efforts to finalise the ceasefire deal between both nations could limit gains of gold and silver,' said Manoj Kumar Jain of Prithvifinmart Commodity Research.'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index and Russia-Ukraine peace deal hopes; gold prices could hold their support level of $3,120 per troy ounce and silver prices could also hold $31.40 per troy ounce levels,' he Kumar Jain suggested the following ranges for gold and silver on MCX:Jain suggests buying silver on dips around Rs 94,800 with a stop loss of Rs 94,150 for a target of Rs 96, with questions mounting around the US economic health, Aksha Kamboj, Vice President of India Bullion and Jewellers Association and Executive Chairperson at Aspect Global Venturesnoted that even positives on the tariff talks front could cap any further downside to gold prices, and any potential dip could be used as a buying gold (22 carat) prices in Delhi stand at Rs 57,736/8 grams while pure gold (24 carat) prices stand at Rs 61,592/8 gold (22 carat) prices in Mumbai stand at Rs 56,832/8 grams while pure gold (24 carat) prices stand at Rs 60,576/8 gold (22 carat) prices in Chennai stand at Rs 56,728/8 grams while pure gold (24 carat) prices stand at Rs 60,464/8 gold (22 carat) prices in Hyderabad stand at Rs 56,808/8 grams while pure gold (24 carat) prices stand at Rs 60,504/8 grams.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Business Standard
30-04-2025
- Business
- Business Standard
Akshaya Tritiya: Mumbai witness gold rush as Delhi markets go quiet
Gold demand remained strong in Mumbai this Akshaya Tritiya, even as markets in Delhi saw a sharp drop in footfall. Though prices have eased from their peak of ₹1 lakh per 10 grams earlier this month, they remain elevated, dampening demand in the national capital. In contrast, Mumbai's jewellery markets saw brisk sales. The Bombay Bullion Association expects at least 100 tonnes of gold to be sold by the end of the day — a stark contrast to the muted activity in Delhi. Jewellery stores in Mumbai's Zaveri Bazaar opened two hours earlier than usual, with customers queuing up from early morning. 'Gold coins are in high demand this Akshaya Tritiya. Around 40 per cent of Wednesday's purchases were coins, and the rest, jewellery,' said Kumar Jain, national spokesperson for The Bombay Bullion Association. As of Wednesday 5 pm, 62 tonnes of gold had been sold in Mumbai, with volumes expected to touch 100 tonnes by nightfall. Last year, the city saw 82 tonnes of gold sold on the same occasion. The price of 24-carat gold in Mumbai stood at ₹97,600 per 10 grams, while 22-carat gold was priced at ₹92,000 per 10 grams. In Delhi, however, shops wore a deserted look. Demand was down by 50 per cent, with high prices deterring buyers. 'Shops across Delhi's markets shut by 7 pm on Wednesday. I closed my store early and found similar scenes elsewhere,' said Yogesh Singhal, chairman of the All Bullion & Jewellers' Association. He added that customers didn't come in to exchange old gold today as it is an auspicious day. While the average ticket size remained around ₹1 lakh, fewer pieces were sold. 'Many customers opted for lightweight gold jewellery or even silver coins,' he said. Customers have otherwise been coming in to exchange old jewellery as gold prices are trending higher. In Delhi, 24-carat gold was priced at ₹98,000 per 10 grams, while 22-carat gold was selling for ₹90,000 per 10 grams. Meanwhile, Mumbai-based jeweller Popley & Sons reported steady sales volumes compared to last year, though the overall value was higher. 'We've seen a clear shift towards diamond jewellery this year. Urban buyers are more inclined to flaunt diamonds, especially with prices being relatively low. A one-carat solitaire now rivals the value of two gold bangles,' said Rajiv Popley, director of Popley Group.
