Thursday, October 08
Shares of Hindustan Zinc have rallied sharply, rising 16.8% over the past four sessions to their high of Rs 546.95 on the BSE, buoyed by the ongoing rally in silver prices, which recently touched fresh lifetime highs in the domestic market.The surge comes as silver continues to attract investor interest as both an industrial and safe-haven asset.Hindustan Zinc, which is the world’s third-largest silver producer, has emerged as a key beneficiary of this rally.On Tuesday, silver July futures on the Multi Commodity Exchange (MCX) hit a new all-time high of Rs 1,07,171 per kg, before settling at Rs 1,07,087 per kg with a 1.54% gain.The strong uptrend in silver has been supported by a weakening US dollar, firmness in other industrial metals, and increased demand for safe-haven assets amid geo
India is in talks with China on ensuring the supply of permanent magnets derived from rare earth minerals but is also working on “alternate sources” for the critical components, commerce and industry minister Piyush Goyal said.He said the government is in constant touch with Indian industry to speed up the development of local sources.China, which controls 90% of the supply of rare earth magnets, has imposed curbs on supplies. These magnets are essential inputs in the manufacturing of cars, electric vehicles and renewable energy equipment, among others.“There is a concern... our embassy is in dialogue with them (China)... commerce and industry ministry is also working,” Goyal said, adding that the government had already begun work on developing alternate sources.‘Hope Good Sense
The Wealth Company Asset Management Pvt Ltd, a part of the Pantomath Group, has announced launching the Rs 2,000-crore Bharat Bhumi Fund -- a Rs 1,000-crore Category II AIF with a Rs 1,000-crore greenshoe option under its fifth Bharat Value Fund Series, targeting the real estate sector. The fund is led by Rakesh Kumar -- whose experience spans over 50,000 real estate transactions and senior leadership roles at Shell, Walmart, and Reliance -- along with Bhavya Bagrecha, who has executed over Rs 2,500 crore in institutional real estate investments and introduced India's first REIT-style structure under SEBI's VCF regulations, it said. Peter Sharp, former head of Walmart's Asia real estate operations, has joined the team as an advisor with over 35 years of global experience, it said. The Fund
