Latest news with #MMTCLtd
Business Standard
29-05-2025
- Business
- Business Standard
Volumes soar at Welspun Corp Ltd counter
Welspun Corp Ltd recorded volume of 4.08 lakh shares by 10:46 IST on BSE, a 19.33 times surge over two-week average daily volume of 21135 shares MMTC Ltd, Castrol India Ltd, Glenmark Pharmaceuticals Ltd, Birlasoft Ltd are among the other stocks to see a surge in volumes on BSE today, 29 May 2025. Welspun Corp Ltd recorded volume of 4.08 lakh shares by 10:46 IST on BSE, a 19.33 times surge over two-week average daily volume of 21135 shares. The stock gained 8.75% to Rs.885.05. Volumes stood at 1.06 lakh shares in the last session. MMTC Ltd notched up volume of 89.81 lakh shares by 10:46 IST on BSE, a 8.07 fold spurt over two-week average daily volume of 11.13 lakh shares. The stock rose 11.87% to Rs.77.64. Volumes stood at 68.71 lakh shares in the last session. Castrol India Ltd registered volume of 6.75 lakh shares by 10:46 IST on BSE, a 7.98 fold spurt over two-week average daily volume of 84553 shares. The stock rose 4.87% to Rs.216.50. Volumes stood at 33153 shares in the last session. Glenmark Pharmaceuticals Ltd witnessed volume of 85325 shares by 10:46 IST on BSE, a 6.39 times surge over two-week average daily volume of 13344 shares. The stock increased 0.88% to Rs.1,391.50. Volumes stood at 10883 shares in the last session. Birlasoft Ltd registered volume of 3.72 lakh shares by 10:46 IST on BSE, a 5.75 fold spurt over two-week average daily volume of 64598 shares. The stock slipped 1.41% to Rs.417.35. Volumes stood at 72849 shares in the last session.
Business Standard
28-05-2025
- Business
- Business Standard
Fusion Finance Ltd Partly Paidup leads gainers in 'A' group
Techno Electric & Engineering Company Ltd, IFCI Ltd, MMTC Ltd and Triveni Engineering and Industries Ltd are among the other gainers in the BSE's 'A' group today, 28 May 2025. Techno Electric & Engineering Company Ltd, IFCI Ltd, MMTC Ltd and Triveni Engineering and Industries Ltd are among the other gainers in the BSE's 'A' group today, 28 May 2025. Fusion Finance Ltd Partly Paidup soared 13.74% to Rs 114.99 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 2018 shares were traded on the counter so far as against the average daily volumes of 13391 shares in the past one month. Techno Electric & Engineering Company Ltd surged 12.19% to Rs 1403.35. The stock was the second biggest gainer in 'A' group. On the BSE, 1.93 lakh shares were traded on the counter so far as against the average daily volumes of 18145 shares in the past one month. IFCI Ltd spiked 9.33% to Rs 66.7. The stock was the third biggest gainer in 'A' group. On the BSE, 146.33 lakh shares were traded on the counter so far as against the average daily volumes of 36.64 lakh shares in the past one month. MMTC Ltd exploded 8.96% to Rs 69.69. The stock was the fourth biggest gainer in 'A' group. On the BSE, 17.16 lakh shares were traded on the counter so far as against the average daily volumes of 3.14 lakh shares in the past one month. Triveni Engineering and Industries Ltd rose 8.74% to Rs 461.1. The stock was the fifth biggest gainer in 'A' group. On the BSE, 2.21 lakh shares were traded on the counter so far as against the average daily volumes of 17785 shares in the past one month.
Mint
01-05-2025
- Business
- Mint
India's Akshaya Tritiya gold buying subdued by near-record prices
New Delhi: Akshaya Tritiya, a spring festival in India, is an auspicious day for new beginnings, investments, and charity, believed to ensure enduring prosperity. Buying gold is a common practice on this day. However, consumers refrained from high-value gold purchases on Wednesday, deterred by steep prices of the precious metal. Still, they opted for token purchases such as gold and silver coins as a form of investment, apart from picking up daily wear ornaments, retailers said. Despite extended store hours, walk-in customers were few, denting volume growth this year. 'Many first-time buyers entered the market, primarily driven by the investment opportunity, with prediction of gold prices rising further. However, demand was muted in the higher-denomination category due to the high price of gold. Consumers adapted their purchasing behaviour: opting for lower denomination or preferring to move to silver, while some waited for prices to stabilise,' Samit Guha, chief financial and technology officer of MMTC-PAMP that sells gold and silver coins and bars. MMTC-PAMP is a joint venture between India's state-run MMTC Ltd, and Swiss-based bullion brand PAMP SA. Guha said silver saw a huge increase in demand, with volumes more than doubling over the previous year. "Regarding jewellery purchases, consumers opted for smaller, lightweight pieces, prioritising daily wear but at a higher value. Furthermore, there has been a notable surge in the purchase of gold ETFs and Digital Gold due to their low making charges and investment appeal. Overall, compared to last Akshaya Tritiya, we witnessed robust growth in silver for offline sales and exponential growth across our digital and e-commerce platforms." he said. After rallying since the start of the year and approaching the ₹ 100,000 per 10 gram-mark late last month, gold prices on India's Multi Commodity Exchange (MCX) have since retreated. Weaker international prices, driven by a stronger US dollar and easing trade tensions caused a drop of over ₹ 500 on Akshaya Tritiya on Wednesday, with prices settling near ₹ 95,000 per 10 grams. Consumers made small token purchases, although overall volumes declined year-on-year. 'Value-wise, there has been a growth of 20% but volume wise there has been a de-growth of 15% to 18% in gold purchases,' said Suvankar Sen, managing director and chief executive of Senco Gold Ltd, which operates 171 stores across the country. However, demand for diamond jewellery grew both in value and volume terms, he said. Overall, demand during Akshaya Tritiya was led by purchase of wedding jewellery and small token pieces. A recent surge in gold prices has prompted retailers to ramp up offerings to lure customers. Consumers, on the other hand, are either resorting to returning old gold or waiting for prices to cool. Gold continues to remain a draw for Indian households, with a large part of gold sales linked to weddings in the country. 'Despite the ongoing market volatility, consumer preferences leaned towards gold, particularly in the lightweight jewellery category, with notable traction in rings, earrings, pendants, and chains. The diamond category also saw good movement, especially within lightweight designs," Ramesh Kalyanaraman, executive director, Kalyan Jewellers. Gold coins continued to be a preferred choice among customers, alongside strong demand for silver—both in coins and artefacts, he said. The retailer operates over 250 stores in India. Rajesh Rokde, chairman, All India Gem and Jewellery Domestic Council, said the recent price fluctuations—peaking at ₹ 99,500 on 22 April, and now down to ₹ 95,000—have reinforced buyers' confidence in gold as a strong investment. 'Today, we observe two types of customers: those purchasing in the ₹ 50,000 to ₹ 5 lakh range, drawn to the festive rush, and high-value buyers investing ₹ 10–15 lakh, who plan and book their selections days in advance to buy during the muhurat. With the drop in gold prices, the number of customers has notably increased, contributing to an impressive total sales figure of Rs20,000 crore today. Furthermore, as the wedding season kicks off during Akshaya Tritiya, demand is expected to rise significantly in the coming days,' he said. Additionally, Rokde emphasized the increasing demand for lightweight jewellery. "There is a noticeable shift towards lightweight designs, particularly among younger buyers," he said. First Published: 1 May 2025, 07:51 PM IST
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Business Standard
30-04-2025
- Business
- Business Standard
Physical or digital, why gold always glitters for Indian investors
Gold was selling for almost Rs 96,000 per 10 grams on Akshaya Tritiya, more than tripling in value since 2015 as Indians continue to invest in the 'safe haven' asset. 'Discerning investors are now opting for smaller quantities but higher values. Lightweight jewellery, certified coins, and digital gold are becoming mainstream,' said Samit Guha, chief financial and technology officer at MMTC-PAMP, A joint venture between Switzerland based bullion brand, PAMP SA, and MMTC Ltd, a Government of India Undertaking that sells gold and silver coins and bars, specializing in high-purity, certified precious metals. Preference for 24K gold of 999.9+ purity and the shift toward investment-grade purchases show that customers have become financially aware, he said. Akshaya Tritiya, being celebrated on Wednesday, is considered auspicious for investments. Digital Gold and Modern Investment Trends Palka Arora Chopra, director at Master Capital Services Ltd., a full-service financial services company that offers stock broking, investment advisory, mutual funds, and other wealth management solutions, said digital gold has emerged as a major investment trend in 2025. 'The way Indians approach gold is evolving. Digital formats offer liquidity, transparency, and ease of access, making them popular — especially among younger investors,' she said. Gold is viewed as a portfolio hedge against inflation and volatility, not just a ceremonial purchase. Cultural Sentiment Meets Financial Strategy Nishant Verma, who works for a public sector undertaking, says gold is a traditional and modern investment. 'Jewellery still holds emotional and cultural value, especially for festivals like Akshaya Tritiya. But from a pure investment lens, digital gold and SGBs are far more practical,' he said. He noted that millennials prefer non-wearable forms of gold that are easier to manage, store, and trade. "Global tensions, inflation concerns, and expected interest rate shifts in the US are contributing to gold's sustained rise in 2025. Central bank purchases and geopolitical risks only reinforce its safe haven status," said Chopra, of Master Capital. 'As long as instability remains, gold's appeal will persist.' Tips for people buying gold For tradition or gifting: Physical gold still holds its charm. For wealth building: Consider SGBs, gold ETFs, or digital gold. For better returns: Go for higher purity and verified products.
