A digital revolution is reshaping India's $34 billion gold market, with smartphones, e-wallets and flexible investment schemes drawing new buyers into a business dominated by traditional, face-to-face transactions.
Digital payment systems have ballooned in popularity in India since the government scrapped large-value bank notes in 2016.
Among these offerings are applications that enable smartphone users to buy, sell or store gold - even in small amounts - kept in secured vaults operated by MMTC-PAMP India Pvt Ltd, a joint venture between MMTC Ltd, the largest national trading firm, and Swiss gold refiner PAMP.
Although online gold purchases have been growing globally for years, they are a relatively recent phenomenon in India, where jewellery and bars of the precious metal tend to be kept in hand and given as gifts.
related news Rajya Sabha elections on Friday. How will 58 MPs be elected? EXCLUSIVE | Ayushman Bharat scheme likely to cap premium at Rs 2,000 per family Rupee up 9 paise against dollar on Fed rate hike"In India, the action is really starting now. The digitisation of the economy will certainly lead to digitisation of gold," said Somasundaram PR cq, managing director of World Gold Council's (WGC) India operations. "It is poised for significant growth, possibly in the next 12-24 months."
Best Bank Stocks To Invest In 2019: Steelcase Inc.(SCS)
Advisors' Opinion:- [By Garrett Baldwin] After 111 years as a member of the Dow Jones Industrial Average, General Electric Co. (NYSE: GE) has been replaced on the index by Walgreens Boots Alliance Inc. (NYSE: WBA). According to David Blitzer, managing director and chair of the Index Committee at S&P Dow Jones Indices, the change is part of an effort to increase value and prominence of consumer goods, finance, healthcare, and technology firms on the U.S. economy. GE is the last original member to be removed from the index. Shares of Boeing Co. (NYSE BA), DowDuPont Inc. (NYSE: DOW), and Caterpillar Inc. (NYSE: CAT) are getting pounded on concerns that a full-blown trade war may accelerate and hurt major exporters to China. Yesterday, U.S. President Donald Trump announced he may seek tariffs on another $200 billion in Chinese goods. Trump has asked U.S. trade representatives to identify potential products on which the United States could implement a 10% tariff. Recent trade volatility has erased all gains in the Dow Jones in 2018. Walt Disney Co. (NYSE: DIS) has raised its bid for Twenty-First Century Fox Inc. (NYSE: FOXA) assets to $71.3 billion in cash and stock. The new offer tops the $35 all-cash offer proposed last week by cable and telecom giant Comcast Corp. (Nasdaq: CMCSA). Three Stocks to Watch Today: MU, ORCL, SBUX Micron Technology Inc. (Nasdaq: MU) will lead a light day of earnings reports Wednesday. The Chinese semiconductor giant is expected to report earnings per share (EPS) of $3.14 on top of $7.75 billion in revenue. While markets will be interested in this report, the greater focus will likely center on the impact of U.S. tariffs on the company's forward guidance. Oracle Corp. (NYSE: ORCL) stock was off 3.7% despite news that the cloud computing giant topped Wall Street earnings expectations yesterday. The firm reported adjusted EPS of $0.99 on top of $11.25 billion in revenue. Those numbers beat average expectations of $0.94 on $11.18 billion. The stock slumped after
- [By Logan Wallace]
Steelcase Inc. (NYSE:SCS) VP James N. Ludwig sold 7,500 shares of the business’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $18.56, for a total value of $139,200.00. Following the completion of the transaction, the vice president now owns 31,960 shares of the company’s stock, valued at $593,177.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
- [By Stephen Mack]
Jim Hackett spent two decades as CEO of Michigan-based office furniture company Steelcase Inc. (NYSE: SCS). When he took over, the American workplace was shifting away from cubicles, and the company looked on the verge of extinction, with $70 million in annual losses.
- [By Asit Sharma]
Contemporary office environment furnisher Steelcase Inc. (NYSE:SCS) reported on its first quarter of fiscal 2019 Wednesday after the close of trading. While the company managed a better year-over-year revenue comparison than the fourth quarter of 2018, in which revenue dipped nearly 5%, top-line performance was still lukewarm at best.
- [By Logan Wallace]
Here are some of the media stories that may have impacted Accern’s rankings:
Get Steelcase alerts: Vida Health Expands Platform to Tackle Comorbidities (prweb.com) Zacks: Brokerages Expect Steelcase (SCS) Will Announce Quarterly Sales of $756.45 Million (americanbankingnews.com) Knoll: Q1 Earnings Enough To Stay Long (seekingalpha.com) ValuEngine Downgrades Steelcase (SCS) to Sell (americanbankingnews.com) Should Stem Cells Spin SA.'s (WSE:SCS) Recent Earnings Decline Worry You? (finance.yahoo.com)Several research analysts have weighed in on the company. ValuEngine lowered Steelcase from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Seaport Global Securities reaffirmed a “neutral” rating on shares of Steelcase in a research report on Monday, March 26th. Finally, Zacks Investment Research raised Steelcase from a “sell” rating to a “hold” rating in a research report on Wednesday, March 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.00.
Best Bank Stocks To Invest In 2019: The9 Limited(NCTY)
Advisors' Opinion:- [By Ethan Ryder]
Press coverage about The9 (NASDAQ:NCTY) has trended somewhat positive on Friday, Accern Sentiment Analysis reports. Accern identifies negative and positive media coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. The9 earned a daily sentiment score of 0.07 on Accern’s scale. Accern also assigned news articles about the technology company an impact score of 45.6853785900783 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Best Bank Stocks To Invest In 2019: Costamare Inc.(CMRE)
Advisors' Opinion:- [By Logan Wallace]
COSTAMARE Inc/SH (NYSE:CMRE) shares hit a new 52-week high during trading on Tuesday following a dividend announcement from the company. The stock traded as high as $8.15 and last traded at $8.10, with a volume of 15988 shares trading hands. The stock had previously closed at $7.98.
- [By Rich Smith]
Shares of three big oceangoing container-shipping companies -- Triton International (NYSE:TRTN), Seaspan (NYSE:SSW), and Costamare (NYSE:CMRE) -- suffered huge losses in early trading Friday after Wells Fargo announced it was downgrading "the entire container complex," as StreetInsider.com put it.
- [By Logan Wallace]
COSTAMARE Inc/SH (NYSE:CMRE) has received an average recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $7.75.
- [By Shane Hupp]
Get a free copy of the Zacks research report on COSTAMARE Inc/SH (CMRE)
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