Tue, Nov 5, 2024 3:56 PM
A look at biggest Indian IPOs that disappointed investors with weak listing
A Flip by Shubhangi Gupta
Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, maintains a bullish outlook on gold, but with an important caveat: Investors may need to wait three years to see substantial returns. Here’s why Goel believes that patience is essential in the current market landscape. Goel notes that gold prices have surged dramatically — rising 55% in dollar terms over the past 13 months.
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JK Tyre & Industries reported its first quarterly profit fall in two years on November 5, hurt by weak tyre sales to car, bus and truck makers. The tyre maker's consolidated net profit for the July-September quarter fell 44% year-on-year to Rs 135 crore. Its second-quarter revenue declined 7% to Rs 3,622 crore, after dropping for the first time in four years in the April-June period.
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Voltamp Transformers said it has received a Letter of Intent (LoI) from Gujarat Energy Transmission Corporation Limited (GETCO) for the supply of various ratings of power transformers, valued at ₹263.33 crore (excluding GST). The company said the contract, which will be executed within 12 months, is a significant development under its ongoing business expansion.
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