“Margin improvement is volatile as the small impact on utilisation for its network impacts the margin as pricing power is limited,” said the brokerage, while slashing its target price from ₹600 to ₹488.
India’s gold consumption is projected to drop to 650–700 tonnes this year as a sharp price rally hurts jewellery demand. Investment buying remains strong, with
Federal Reserve President John Williams told CNBC on Friday he does not see an imminent need to follow last week’s interest rate cut with another
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