Advertisement

HindustanTimes Wed,17 Sep 2014

Shares of gold firms tank

None  Mumbai, April 15, 2013
First Published: 22:25 IST(15/4/2013) | Last Updated: 22:27 IST(15/4/2013)

Share prices of gold loan companies and jewellers were under tremendous pressure on Monday as gold sank further to new lows.

Advertisement

At the end of day's trade, shares of Muthoot Finance and Manappuram Finance had slumped 13% and 10% respectively.

These companies reacted on the risk of rising defaults on gold loans amidst falling prices.

Further jewellery firms such as Tribhobvandas Bhimji Zaveri, PC Jeweller, and Titan Industries saw their share prices fall 2%, 6% and 4% respectively.


Advertisement
more from Business

Sony forecasts $2 billion loss, cites weak mobile

The Japanese electronics and entertainment conglomerate said on Wednesday it anticipates a net loss of 230 billion yen ($2.15 billion) for the fiscal year that ends March 31, 2015. Its previous forecast was for a 50 billion yen ($466 million) net loss.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved