The price of gold in India today is ₹6,876 per gram for 22 karat gold and ₹7,501 per gram for 24 karat gold. Below are the gold prices in different cities:
| City | 22 Karat Gold (₹/gram) | 24 Karat Gold (₹/gram) |
|---|---|---|
| Mumbai | 6876 | 7501 |
| Kolkata | 6876 | 7501 |
| Chennai | 6921 | 7550 |
| Delhi | 6891 | 7516 |
| Bengaluru | 6876 | 7501 |
| Hyderabad | 6876 | 7501 |
| Gurugram | 6891 | 7516 |
| Lucknow | 6891 | 7516 |
| Ahmedabad | 6881 | 7506 |
| Jaipur | 6891 | 7516 |
| Thane | 6876 | 7501 |
| Surat | 6881 | 7506 |
| Pune | 6876 | 7501 |
| Nagpur | 6876 | 7501 |
Sahaj Solar, a company providing renewable energy solutions, is launching its initial public offering (IPO) today, July 11. They aim to raise ₹52.56 crore by issuing 2.92 million new shares, and the subscription will close on July 15. The share price is set between ₹171 to ₹180 per share. So far, they have raised ₹14.83 crore from anchor investors. Founded in 2010, Sahaj Solar operates in three main areas of renewable energy solutions.
The company also provides solar water pumping systems and comprehensive Engineering, Procurement, and Construction (EPC) services. As of September 30, 2023, Sahaj Solar employs over 64 professionals.
Retail investors need to buy at least 800 shares, which costs ₹144,000. High Net-Worth Individuals (HNIs) must buy a minimum of 1,600 shares, costing ₹288,000.
The funds from the IPO will be used for the company’s working capital needs and general corporate purposes.
The allotment of shares is expected to be finalized by July 16. The company plans to list on the NSE SME on July 19.
Kunvarji Finstock Pvt Ltd is managing the IPO, Kfin Technologies Limited is the registrar, and Aftertrade Broking is the market maker for Sahaj Solar’s IPO.
Sure, here’s a simplified version of the article about Sati Poly Plast IPO:
“Sati Poly Plast Ltd will start selling its shares to the public from Friday, July 12, until Tuesday, July 16. Each share, with a face value of ₹10, will be priced between ₹123 and ₹130. Investors can bid for a minimum of 1000 shares and in multiples thereof.
The IPO allocates 15% of its shares to non-institutional investors, 35% to retail investors, and 50% to qualified institutional buyers (QIBs).
Sati Poly Plast manufactures flexible packaging materials used across various industries. They began producing these materials in 2017, having previously traded in them until 2015. Their top 10 customers contribute more than half of their total revenue.
According to their red herring prospectus (RHP), listed peers include Sabar Flex India Ltd (P/E ratio of 7.50) and Uma Converter Ltd (P/E ratio of 11.81).
From March 31, 2023, to March 31, 2024, Sati Poly Plast’s profit after tax increased by 6.39%, while their revenue declined by -6.05%.
The IPO aims to raise ₹17.36 crore through the issuance of 1,335,000 equity shares at ₹10 each, with no offer-for-sale component. Funds raised will be used for general corporate purposes and working capital needs.
Beeline Capital Advisors Pvt Ltd is the book running lead manager, and Link Intime India Private Ltd is the registrar. Spread X Securities will act as the market maker.
Allocation details will be finalized by Thursday, July 18. Refunds will start processing from Friday, July 19, and shares will be credited to investors’ demat accounts on the same day. Trading of Sati Poly Plast shares on NSE SME is expected to commence on Monday, July 22.”
The IPO excitement continues unabated, with a variety of mainboard IPOs from various industries hitting D-Street each month, similar to the domestic benchmark indices, which are consistently setting new records. Two distinct mainboard IPOs have emerged in the first week of July, and they are set to close today. Both IPOs were fully subscribed on the first day of bidding due to strong interest from retail and non-institutional investors.
Regarding the IPOs, Bansal Wire Industries is offering new equity shares worth ₹745 crore, without an offer-for-sale (OFS) component. The price range for each share is ₹243–256. The funds will be used for normal business operations, debt repayment, and meeting the company’s working capital needs. Bansal Wire Industries produces and exports steel wire, focusing on three main categories: stainless steel wire, mild steel wire (low carbon steel wire), and high carbon steel wire. The Bansal Wire Industries IPO subscription status was 5.73 times on the second day of bidding.
In contrast, the Emcure Pharmaceuticals IPO includes a new issue of equity shares worth ₹800 crore and an OFS by promoters and existing shareholders for 1.14 crore equity shares, valued at ₹1,152 crore at the top end of the price range. This brings the total public issue to ₹1,952 crore. The OFS includes shares sold by investor and promoter Satish Mehta and BC Investments IV Ltd., a part of US-based private equity giant Bain Capital. The proceeds from the new issuance will be used for debt repayment and normal business activities. The issue’s price band is set between ₹960 and ₹1,008 per share. The Emcure Pharma IPO subscription status was 4.98 times on the second day of bidding.
Arun Kejriwal, Founder of Kejriwal Research and Investment Services
Kejriwal noted that one IPO is smaller while the other is three times larger. From an allotment perspective, the chances of getting shares in the larger IPO are better. Therefore, if you want an allotment, the pharma company is a better bet. Regarding prospects, pharma is a proven and defensive business. Bansal Wire Industries is expanding, which will drive growth, but the benefits of this expansion will take 6–8 months to materialize. While both IPOs offer listing benefits, holding Bansal Wire Industries post-listing could yield more money after the initial excitement subsides. One could re-enter Bansal Wire Industries later and profit by holding it for a year.
“Pharma is straightforward. Compare it with its peer group and decide what to do. The biggest advantage for Emcure Pharma is its size, almost ₹2,000 crore, providing a better chance of allotment at this time,” Kejriwal explained.
Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities
Tapse believes that both IPOs are fairly priced and offer value for new investors, with listing gains expected from the IPO. The long-term growth potential is evident in both business models. Both companies are reducing debt with the IPO proceeds, lowering their financial burden, and improving their bottom line.
Today’s Gold Prices in India: As of June 25, 2024, the price of 10 grams of gold was approximately Rs 72,000. Pure 24-carat gold was valued at Rs 72,220 per 10 grams, while 22-carat gold was priced at Rs 66,240 per 10 grams. Silver fell to Rs 91,600 per kilogram.
| City | 22 Carat Gold Price | 24-Carat Gold Price |
| Delhi | 66,390 | 72,370 |
| Mumbai | 66,240 | 72,220 |
| Ahmedabad | 66,290 | 72,270 |
| Chennai | 67,010 | 73,110 |
| Kolkata | 66,240 | 72,220 |
| Gurugram | 66,390 | 72,370 |
| Lucknow | 66,390 | 72,370 |
| Bengaluru | 66,240 | 72,220 |
| Jaipur | 66,390 | 72,370 |
| Patna | 66,290 | 72,270 |
| Bhubaneshwar | 66,240 | 72,220 |
| Hyderabad | 66,240 | 72,220 |
Multi Commodity Exchange (MCX):
Active trading on June 25, 2024, showed gold futures contracts expiring on August 05, 2024, at Rs 71,610 per 10 grams on the MCX. Silver futures contracts expiring on July 5, 2024, were quoted at Rs 88,769.
India’s gold prices are heavily influenced by global trends due to its reliance on imported gold. The metal holds cultural significance, impacting demand, especially during festivals and weddings.
Retail Gold Prices:
Retail prices reflect the final cost to consumers, influenced by various factors beyond the metal’s intrinsic value. Gold remains a significant investment in India, central to traditional ceremonies.
Amid market fluctuations, these dynamics are closely monitored by investors and traders. Stay updated on this developing story.
The Money Fair IPO subscription period began on June 25, 2024, and will end on June 27, 2024. The IPO aims to raise approximately ₹23.11 crores. The allocation breakdown is as follows:
The price range for the IPO is set at ₹73 to ₹77 per equity share.
The Money Fair is a leading company in India’s heating equipment sector known for its exceptional performance in new order bookings from Fiscal 2021 to Fiscal 2023. The company specializes in:
In Fiscal 2023, The Money Fair held a market share of approximately 27% in India’s heating equipment market based on new order bookings.
On June 22, the price of 10 grams of gold was around Rs 72,000. Pure 24-carat gold was valued at Rs 72,380 per 10 grams, while 22-carat gold was priced at Rs 66,350 per 10 grams. Meanwhile, silver prices dropped to Rs 92,000 per kilogram.
| City | 22 Carat Gold Price | 24-Carat Gold Price |
| Delhi | 66,500 | 72,530 |
| Mumbai | 66,350 | 72,380 |
| Ahmedabad | 66,400 | 72,430 |
| Chennai | 66,950 | 73,040 |
| Kolkata | 66,350 | 72,380 |
| Gurugram | 66,500 | 72,530 |
| Lucknow | 66,500 | 72,530 |
| Bengaluru | 66,350 | 72,380 |
| Jaipur | 66,500 | 72,530 |
| Patna | 66,400 | 72,430 |
| Bhubaneshwar | 66,350 | 72,380 |
| Hyderabad | 66,350 | 72,380 |
The retail price of gold in India, representing the final cost per unit weight for consumers, is influenced by various factors beyond the metal’s intrinsic value.
Amid ongoing market fluctuations, investors and traders keep a close eye on these dynamics. Stay tuned for further updates on this evolving story.
Chhattisgarh-based Vraj Iron and Steel has set a price band of Rs 195-207 per share for its initial public offering (IPO). The Rs 171-crore IPO will open for subscription on June 26, with the anchor book opening on June 25, and closing on June 28.
The TMT bars manufacturer will finalize the basis of IPO share allotment by July 1 and credit shares to successful investors’ demat accounts by July 2. Trading of its equity shares will begin on July 3.
Vraj Iron, which produces sponge iron, MS billets, and TMT bars, plans to use Rs 129.5 crore from the IPO proceeds for an expansion project at its Bilaspur plant, with the remainder for general corporate purposes.
Currently, the company operates two manufacturing plants in Raipur and Bilaspur, Chhattisgarh, with a combined installed capacity of 2,31,600 tons per annum (TPA). The Raipur plant includes a captive power plant with a 5 MW capacity.
Financially, Vraj Iron reported an 88.1 percent year-on-year growth in net profit to Rs 54 crore for the year ending March FY23, with revenue from operations increasing by 24.5 percent to Rs 515.7 crore compared to the previous year.
On June 20, the price of 10 grams of gold was around Rs 71,000. Pure 24-carat gold was valued at Rs 72,210 per 10 grams, while 22-carat gold was priced at Rs 66,190 per 10 grams. The price of silver fell to Rs 90,900 per kilogram.
Check gold rates today in different cities on June 20, 2024; (In Rs/10 grams)
| City | 22 Carat Gold Price | 24-Carat Gold Price |
| Delhi | 66,340 | 72,460 |
| Mumbai | 66,190 | 72,210 |
| Ahmedabad | 66,240 | 72,260 |
| Chennai | 66,960 | 73,050 |
| Kolkata | 66,190 | 72,210 |
| Gurugram | 66,340 | 72,460 |
| Lucknow | 66,340 | 72,460 |
| Bengaluru | 66,190 | 72,210 |
| Jaipur | 66,340 | 72,460 |
| Patna | 66,240 | 72,260 |
| Bhubaneshwar | 66,190 | 72,210 |
| Hyderabad | 66,190 | 72,210 |
On June 20, 2024, the Multi Commodity Exchange (MCX) saw active trading in gold futures contracts expiring on August 05, 2024, at Rs 71,838 per 10 grams. Silver futures contracts expiring on July 5, 2024, were quoted at Rs 90,450 on the MCX.
The retail price of gold in India, representing the final cost per unit weight for consumers, is influenced by various factors beyond the metal’s intrinsic value.
The Bank Nifty index reached a new all-time high on Wednesday, along with the main indices Sensex and Nifty 50, as the Indian stock market continued its bullish trend for the fourth consecutive session.
Leading the gains in the Bank Nifty were major banks like:
These banks saw increases of 1-2%. All other banking stocks in the index also traded positively.
Analysts believe that with Bank Nifty breaking decisively above 51,000, it is likely to strengthen further towards targets of 52,400 and 53,500, with support around the 49,600 mark.
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher Pvt. Ltd., noted that Bankex showed a positive candle formation after consolidation, closing above the resistance level of 57,100, which suggests a bullish bias and potential further gains in upcoming sessions.
According to Parekh, Bank Nifty is expected to trade between 50,000 – 51,000 levels daily, with Bankex supported at 56,600 and resistance at 57,800 levels.
Key support levels for Bank Nifty are at 50,040 and 49,639, while resistance levels are seen at 50,702 and 50,963.
“For today’s expiry, Bank Nifty is likely to move towards the 50,800 – 51,000 range. The 50,500 Call strike has the highest open interest (OI) of approximately 29 lakh shares, while the 50,000 Put strike has the highest OI on the Put side, with about 38 lakh shares,” noted Shrey Jain, Founder and CEO of SAS Online.