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Bollywood actress Alia Bhatt joins Malabar Gold and Diamonds as a brand ambassador.

  • 20/04/2023
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 Malabar Gold and Diamonds, the leading jewellery retailer with 312 showrooms across 10 countries, has signed Indian actress Alia Bhatt as its new brand ambassador, the brand announced in a release on Wednesday. The announcements come in the wake of the 30th anniversary of Malabar group, which began its operations in 1993. With an extensive retail network in India, UAE, KSA, Qatar, Bahrain, Oman, Kuwait, Malaysia, Singapore and the USA, the signing of Alia Bhatt as the brand ambassador will bring a new global outlook to the brand as it set its eyes on new markets such as the UK, Australia, Canada, South Africa, Egypt, Bangladesh, Turkey and New Zealand as well as major cities in all states of India strengthen its presence in existing markets, the release added. “We are excited to welcome Alia Bhatt into the Malabar Family. Over the years, our brand ambassadors have played an instrumental role in elevating our brand’s status in the eyes of our customers and we are looking forward to taking Malabar Gold and Diamonds to new heights with Alia Bhatt as the face of the brand. As Malabar Gold and Diamonds celebrates its 30th anniversary, we are reaffirming our commitment to providing our loyal customers with the best jewellery shopping experience,” commented Malabar Group Chairman, M.P. Ahammed. “As Malabar Gold and Diamonds gears up to execute their ambitious expansion plan, I earnestly look forward to working closely with them to further their reach amongst jewellery lovers world-over,” commented Alia Bhatt. Malabar Gold and Diamonds was established in 1993 and is the flagship company of Malabar Group, a diversified Indian business conglomerate. It has a strong retail network of 312 outlets spread across 10 countries in addition to multiple offices, design centres, wholesale units and factories spread across India, Middle East, Far East and USA. The group, owned by more than 4,000 shareholders, has more than 17,500 professionals from over 26 countries working towards its continued success.

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Raymond Q2 net benefit gets around two-overlay to Rs 162 cr

  • 03/11/2022
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New Delhi: Diversified group Ltd on Thursday reported over a two-fold jump in its consolidated net profit to Rs 161.95 crore for the second quarter ended September 30 on improved growth across its business segments. The company had posted a net profit of Rs 56.15 crore during the July-September quarter of the previous fiscal, Raymond said in a regulatory filing. Its revenue from operations rose 39.76 per cent to Rs 2,168.24 crore from Rs 1,551.32 crore in the corresponding quarter previous fiscal. “Raymond continues to deliver high operating performance along with profitable growth for the 4th consecutive quarter, leveraging optimism in the market and improved consumer demand. “Focused approach has driven growth over pre-Covid levels and cost consciousness has led to deliver yet another record profitable quarter,” said an earning statement by the company. Raymond’s total expenses surged 31.27 per cent to Rs 1,954.18 crore in the second quarter of FY23 against Rs 1,488.64 crore a year back. The company operates in the textile and apparel sector and other segments like consumer care, realty and engineering. Its B2C businesses continue to grow during the July-September quarter, while the garment export business showed resilience and the order book remained healthy from the US and Europe markets. “The real estate sector witnessed the sustained demand from home buyers that contributed to growth in our realty business with varied product offerings,” the company said. Raymond’s net debt reduced to Rs 1,286 crore as of September 30, 2022, helped by free-cash-flow generation, it added. “However, there was an increase in working capital deployment primarily in production and sales to meet strong festive and winter wedding demand in H2,” Raymond said. Raymond Chairman and Managing Director Gautam Hari Singhania said the group’s businesses are delivering consistent growth in both revenues and profitability on a quarter-on-quarter basis. “All four quarters are respectively record quarters in the last 12 months. Our quality products and services are tailored to meet the ever-changing demand from consumers be it fashion or real estate and this approach has helped us to achieve profitable growth,” he said. In the September quarter, Raymond’s revenue from textiles was Rs 911.80 crore and Rs 210.52 crore from the ‘shirting’ segment.

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Demand for gold adornments takes off to pre-pandemic level

  • 03/11/2022
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 Gold jewellery consumption has hit pre-pandemic levels, and demand could persist amid revenge buying by households during the upcoming wedding season after two years of postponing large celebrations because of the pandemic. In the January-September period, gold jewellery demand was at 381 tonnes, aided by a strong third quarter, said World Gold Council (WGC), the gold miners’ lobby founded in 1987. In the nine-month period of 2021, gold sales stood at 346 tonnes and were at 179 tonnes in 2020 due to a demand slump during the covid-led lockdowns. In 2019, demand for gold jewellery was at 396 tonnes from January-September. “It isn’t a one-off, but a reversion to normal demand after two years of the pandemic,” Shekhar Bhandari, president of global transaction banking and precious metals at Kotak Mahindra Bank, said, adding that demand may remain sticky amid elevated inflation, falling returns from equities, and the looming recessionary and geopolitical risks. Rising domestic retail price inflation and a stronger dollar raised the demand for the metal, which is perceived as a hedge against inflation and a safe haven asset in times of uncertainty. Retail price inflation in India hit a five-month high of 7.41% in September to remain stubbornly above the Reserve Bank of India’s target of 6% for nine straight months due to the central bank’s loose monetary policy stance in the pandemic years of 2020-2021. A strong dollar and the US Federal Reserve’s aggressive rate hikes since March to tame 40-year high inflation, spurred by cheap money and the Russia-Ukraine war, led to a correction in gold prices in dollars, further increasing demand in India, the world’s second-largest consumer of gold after China. With the Fed raising its benchmark interest rate from 0.25% in March to 3.75-4%, the dollar has strengthened against all global currencies, resulting in a correction in the prices of all dollar-denominated assets, such as gold. Consequently, Indian gold prices corrected 5% from ₹53,380 per 10 gm (excluding goods and services tax) in March to ₹50,620 on 2 November. “The correction could have been steeper, but for the customers thronging retail jewellery outlets to make the most of the falling prices after two years of sub-par demand, thanks to the pandemic,” said Surendra Mehta, national secretary of India Bullion and Jewellers Association, which forms the basis for RBI to price sovereign gold bonds. Mehta’s claims on robust demand are backed by quarterly updates given by India’s largest listed organized jewellers. Titan said the jewellery division grew 18% in the second quarter “on a high base of the second quarter of FY22 that had elements of pent-up demand and spillover purchases of a covid-disrupted the first quarter FY22″. The company refused to divulge the numbers as it is in the silent period ahead of the September quarter earnings announcements. Kalyan Jewellers said its India standalone operations recorded revenue growth of about 14% in the September quarter, compared to the same period of the previous year, “despite a strong base the second quarter of the previous financial year, and benefitted from pent-up demand caused by covid-driven lockdowns in various parts of India in the first quarter of FY22″. Madan Sabnavis, chief economist at Bank of Baroda, said one reason for the declining savings rate of Indian households could be the higher consumption of gold. “The savings rate has been falling partly due to the Indians’ penchant for buying gold to meet wedding and festive demand. “Gold also acts as a hedge against inflation and a safe haven asset during times of economic or geopolitical crises,” he added. RBI’s latest data shows household savings rate as a proportion of GDP declined to 10.8% in FY22 from 16% in the previous fiscal year. 1

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VR Is the Use of Computer Technology Simulated at Environment.

  • 15/07/2022
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