JEWELRY SALES DECLINE
Indian billionaires who amassed gold fortunes in Dubai face slowdown
Indian entrepreneurs are dominating Dubai's retail gold market, building empires from the Gold Souk to high-end malls. Malabar Gold & Diamonds, Joyalukkas, and Kalyan Jewellers, owned by India's wealthiest, benefit from strong cultural ties and a large South Asian expatriate base.
Is AI killing jobs? Salesforce cuts 4,000 support roles as automation takes over
Salesforce job cuts 2025: Salesforce CEO Marc Benioff revealed a significant workforce shift driven by artificial intelligence. The company has reduced its customer support roles by 4,000 due to the implementation of its AI-powered 'Agentforce' platform. While some employees were laid off, many have been redeployed to other departments like sales and customer success.
Tariff pain priced in, markets now betting on GST cuts: Ajay Bagga
According to Ajay Bagga, the Indian stock market has largely absorbed the impact of new U.S. tariffs, shifting focus to domestic events like the GST Council meeting, which could spur rallies in FMCG, durables, and auto sectors. While textiles face challenges, other export sectors like pharma and electronics remain vulnerable to policy changes.
How did Kohl's stock jump 24% despite declining sales and ongoing CEO drama?
KSS stock today: Kohl's stock soared over 24% following a Q2 earnings report that surpassed Wall Street's forecasts, even with declining sales. Interim CEO Michael Bender attributed the sales dip to economic pressures, leading budget-conscious shoppers to opt for cheaper alternatives. The company is actively addressing these challenges by reintroducing popular features and adjusting its discount strategy.
These mid-cap stocks with ‘Strong Buy’ & ‘Buy’ recos can rally over 25%, according to analysts
As the market grapples with uncertainty and both sides (India and the US) make claims and counter-claims, remember one thing. This is the time to be cautious about the information you pick up on the street. Just to put this in perspective: Suppose there is a sharp rise in the Nifty and Sensex, don't assume it is because there is a progress on the India-US trade deal. And that the news will soon be out. The upward movement could be purely because of short covering. So, ignore the noise and focus on the business you own or want to own.
US stock market surges as Nvidia nears all-time highs: Dow, S&P 500, Nasdaq rally as Wall Street awaits earnings
US stock markets edged higher as investors brace for Nvidia’s highly anticipated earnings. With Nvidia shares trading near all-time highs, the Dow, S&P 500, and Nasdaq are showing gains, fueled by excitement over AI chip growth and strong tech momentum. Traders are watching closely as Nvidia’s results could set the tone for the broader tech-driven rally this summer.
- Go To Page 1
These large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of more than 27%
At this point of time, both the bulls and bears are pretty much even, though the bias is toward the bulls. The thing that will tilt the balance in favour of the bears is the implementation of the additional 25% tariff on Indian exports to the US on August 27. But we are assuming that better sense will prevail; and, even if they are implemented, we would soon see an India-US trade treaty that would reverse the tariff. If that happens, the bullish sentiment will get a boost and the tilt will first be toward large-cap stocks. Especially where the quality of the balance sheet is strong and there is little need for further debt for the business.
Trump gets tariffs; Americans get price hikes
U.S. President Trump's tariffs are prompting companies like Procter & Gamble to raise prices on consumer goods, impacting everyday shoppers. P&G plans to increase prices on about a quarter of its U.S. products to offset tariff costs.
These large- and mid-cap stocks can give more than 25% return in 1 year, according to analysts
Even as the market stays in stock-specific mode, there is a possibility that we might see a change in the underlying bias of the volatility. But first: What is stock-specific mode? It’s a situation where, rather than a broad-based rally where large numbers of stocks are moving up or down, the street rewards stocks which deliver on earnings or where the fundamental operating matrix is improving. And punishes stocks where earnings are below estimates. This is what has been happening in the market in the last few trading sessions. This kind of strong reaction happens when there is a good amount of money sitting on the sidelines, but that money is cognizant of valuations, which surely are not cheap.
Lavish homes left by fleeing Guptas up for sale in South Africa
South Africa is auctioning properties of the Gupta brothers, who are facing corruption allegations. The brothers are accused of influencing the government. They fled to Dubai before Jacob Zuma resigned as president. The mansions are in disrepair. The auction aims to recover funds for creditors. The Gupta brothers are wanted on charges including money laundering and fraud.
Buyers keep hands off gold, as sales plunge 60% in June, steepest drop since Covid
Gold sales in India witnessed a sharp decline in June. The drop is attributed to high and fluctuating gold prices. India Bullion & Jewellers Association reports a 60% decrease. Jewellers are now promoting 14-karat gold. This is due to its affordability. There are ongoing discussions for hallmarking 9-karat gold. The Bureau of Indian Standards is working on the hallmarking model.
Titan Q4 preview: Revenue may rise by up to 14% YoY, PAT growth estimates swing between 0.7% and 19%
Titan is expected to post Q4FY25 profit growth between 0.7% and 19%, with revenue rising 3.2% to 14%. Brokerages differ in estimates, citing jewellery margins, rising gold prices, and operational efficiency as key factors driving performance and risks.
Akshaya Tritiya & Gold: Indian buyers balk at high prices of yellow metal
Gold on Akshaya Tritiya: High gold prices in India, driven by global factors, are impacting Akshaya Tritiya sales and wedding-related purchases. Consumers are reconsidering gold buying, opting for alternatives like cash or delaying purchases. Jewelers are offering discounts and installment plans, but demand remains slow, affecting both large companies and daily wage earners.
Titan shares in focus ahead of Q3 earnings today
Titan's Q3FY25 revenue is expected to grow 24% YoY, driven by strong festive and wedding season demand. Jewellery sales rose 26%, but a one-time Rs 275 crore inventory loss may impact profitability. Analysts project 19% adjusted PAT growth. Titan shares traded 1% lower at Rs 3,545.45.
Titan Q3 Results Preview: Exceptional loss to curtail profit, but strong sales growth expected
Titan is expected to report 24% YoY growth in standalone jewelry sales for Q3FY25, driven by strong demand in gold jewelry and the wedding season. Despite this, a one-time inventory loss is anticipated, impacting profitability. The company’s jewelry EBIT margin is projected to fall slightly, while growth in the watches and eyewear segments remains strong.
Titan shares slip 1% ahead of Q2 results today
Titan is set to release its July-September 2024 quarter results, with analysts predicting a potential 27% drop in net profit due to inventory losses from customs duty cuts. However, sales are expected to rise by 3%, fueled by a strong 25% growth in the core jewelry segment.
Q1 results today: Titan among 98 companies to announce earnings on Friday
Numerous companies are expected to reveal their first quarter earnings, including Titan, Hindustan Zinc, and Delhivery. Titan's performance suffered due to high gold prices and regional competition. Analysts predicted a 6% YoY sales increase but a minor 1% decline in net profit for April-June 2024, highlighting challenges in the jewelry segment.
Titan Q1 Preview: A tepid quarter on the cards with muted profitability
Titan faced a tepid first quarter amid fewer wedding days, skyrocketing gold prices, and regional competition. Analysts predict a 6% year-on-year increase in net sales for April-June 2024, with a marginal 1% decline in net profit. The jewelry segment's growth was impacted by a surge in gold prices and higher market competition.
Titan Q4 Results Today: Profit, revenue seen rising in high double-digits
Titan Q4 Results Today: Titan Company poised for strong Q4 performance with high double-digit revenue growth. Jewelry segment expected to lead with significant EBITDA and PAT growth. Various factors impacting EBIT margins across segments, while focus remains on market share and revenue growth.
Titan Q3 Preview: Profit may rise up to 27% YoY; strong revenue growth eyed
Titan's Q3 revenues are expected to rise 25% YoY, mainly driven by yet another strong quarter for the jewellery business. Net profit for the same period is seen growing up to 27% YoY. Q3 will likely be the fourth consecutive quarter of 20% growth in revenue.
Black Friday fails to bring cheer: Weak holiday season start for retailers in UK
Christmas is off to a weak start for retailers relying on the crucial period to boost their sales. Festive spending is forecast to drop 13% to £20 billion ($25 billion) this year, according to a separate survey by PwC that was also released Tuesday. "The cost-of-living crisis has taken its toll on Christmas spending for many households, and the continued economic conditions are testing consumer resilience," said Paul Martin, UK head of retail at KPMG.
Pear-shaped pink diamond sells for $28.8 mn at Christie's auction
The auction house said an unidentified Asian buyer snapped up the diamond.
India’s pandemic recovery means golden days ahead for jewelers
In the final quarter, Indians usually boost their purchases of gold ornaments for marriage celebrations, while sales of coins and bars for investment surge during a series of celebrations that culminates with Diwali, or the Festival of Lights that this year is being held in November.
Titan Q1 results: Co reports net profit of Rs 61 cr, beats estimate; sales rise 74.5%
The jewelry company’s sales in the quarter jumped 74.5 per cent on a year-on-year basis to Rs. 3,249 crore aided by a low base in the year-ago quarter.
Central banks sell gold for first time in a decade
While inflows into exchange-traded funds have driven gold’s advance in 2020, buying by central banks has helped underpin bullion in recent years. Citigroup Inc. last month predicted that central bank demand would rebound in 2021, after slowing this year from near-record purchases in both 2018 and 2019.
World’s top gold market freezes as Chinese shoppers stay away
China is the biggest buyer of gold bars, coins and jewelry.
Demonetisation creates havoc; people rush to jewellers to convert cash into gold
Five hundred rupee ($7.5) and 1,000 rupee notes will cease to be legal tender from Wednesday, Modi said in an unscheduled address to the nation.
Platinum, Palladium supplies at 12-year low
The platinum market swung into the biggest shortage since 2002 last year as supply fell to a 12-year low on strikes and stoppages in South Africa.
Montblanc: Watch gets mightier than pen as company shifts focus
"In the next five years or so, watches have the chance to become bigger than writing instruments," CEO Lutz Bethge said in an interview.
Load More
