Tag: investment

Devyani International Plunges 7% amid bulk deal reports

Devyani International Plunges 7% amid bulk deal reports
Tuesday, August 23, 2022
Shares of Devyani International (DIL) tanked 7 percent to Rs 182.50 on the BSE in Tuesday’s intra-day trade. This comes after it saw a huge block deal change hands. Around 26.4 million shares or 2.33 percent stake of the company changed hands, according to a Bloomberg report. However, the details of buyers and sellers were not known by the time of writing this report. As of June 30, 2022, the promoters held a 62.80 percent stake in DIL. Among the public shareholders, Dunearn Investments (Mauritius) Pte Ltd held 98 million shares or 8.13 percent holding in the company, the shareholding pattern data shows. Earlier, CNBC TV reported that Dunearn Investments (Mauritius) Pte Ltd is likely to sell a nearly 3 percent stake at Rs 182-196.25 per share. The base offer was expected at 2.6 crore shares (2.19 percent equity) with an upsize option of 87.76 lakh shares ( 0.73 percent equity). The total deal size is expected at $80-86 million. Read more

Bharti Airtel jumps 2% after Google buys 1.2% stake in Bharti Airtel for $700 million

Bharti Airtel jumps 2% after Google buys 1.2% stake in Bharti Airtel for $700 million
Friday, July 15, 2022
Shares of Bharti Airtel climbed nearly 2 percent on July 15 after the company said it is allotting 7.11 crore shares to Google on a preferential basis. The allotment is part of Google's commitment to invest $1 billion with Airtel, which included equity investment in the company worth $700 million, about Rs 5,224 crore, while the remaining $300 million will be invested through commercial agreements over the next five years, which include investments in scaling Airtel's offerings that cover a range of devices to consumers via innovative affordability programs. .“The ‘special committee of directors for preferential allotment of the company has approved the allotment of 71,176,839 equity shares of the face value of ₹5 each fully paid up, on a preferential basis to Google International LLC (Google) at an issue price of ₹734 per equity share (including a premium of ₹729 per equity share)," the carrier said in a note to BSE on Thursday. Read more

M&M rallies 5%, hits record high as automaker looks to invest in new EV entity

M&M rallies 5%, hits record high as automaker looks to invest in new EV entity
Friday, July 8, 2022
Shares of Mahindra & Mahindra (M&M) hit a new high of Rs 1,191.90 after they rallied 5 percent on the BSE in Friday's intra-day trade. This comes after the company the automaker inked a pact with the British International Investment (BII) to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major, focusing on four-wheel passenger electric vehicles.BII will invest up to Rs 1,925 crores in the form of compulsory convertible instruments at a valuation of up to Rs. 70,070 crores, resulting in 2.75% to 4.76% ownership for BII in the EV Co.," M&M said in a stock exchange filing. The total capital infusion for the EV Co. is envisaged to be approximately Rs 8,000 crores / $1 billion between FY24 and FY27 for the planned product portfolio. Read more

JK Cement slips 9% on board nod for Rs 600 cr investments in paint venture

JK Cement slips 9% on board nod for Rs 600 cr investments in paint venture
Monday, March 7, 2022
Shares of JK Cement Ltd. logged the worst day in 14 years, slipped 9 percent to Rs 2,395, also its fresh 52-week low, on the BSE in Monday’s intra-day trade as analysts raised concerns about the company's "aggressive" investment plan to enter the paints business. The company said its board approved an investment of Rs 600 crore into the painting venture, which will be infused over a five-year period.“The subsidiary would undertake manufacturing, selling, trading, importing and exporting and otherwise dealing in all types of paints and allied products and services,” the company said in a stock exchange filing. Consumer preference for existing brands and infrequent purchase cycle could also make it difficult for JK Cement to gain share in the mid-to-premium emulsions business, they said. Read more

LIC IPO expected to hit market by Q4: DIPAM Secy Tuhin Kanta Pandey

LIC IPO expected to hit market by Q4: DIPAM Secy Tuhin Kanta Pandey
Wednesday, November 17, 2021
The much-awaited LIC IPO is expected to hit the market by the fourth quarter of the current fiscal, said Department of Investment and Public Asset Management Secy Tuhin Kanta Pandey. The government is seeking to raise as much as Rs 10 trillion ($133 billion) by selling up to a 10% stake. The sale of a 5% stake would make it India’s largest IPO, while a 10% dilution would make it the second-biggest of an insurer globally, Bloomberg reported. Read more

Government and regulatory authorities may consider a legislative and regulatory framework for cryptocurrencies

Government and regulatory authorities may consider a legislative and regulatory framework for cryptocurrencies
Wednesday, November 17, 2021
Finally, it looks like the government and regulatory authorities appear to be getting together with stakeholders to consider a legislative and regulatory framework for cryptocurrencies. These virtual assets have been around for over a decade — the pioneer bitcoin started trading in 2010. There are literally thousands of cryptos. Some have given truly extraordinary returns. Investors see these instruments as potential hedges against currency volatility and inflation. Traders who pay in rupees generate over Rs 50 crore in daily cryptocurrency volumes and Indians actually invest a great deal more in forex-denominated trades. There’s a substantial, active Indian crypto-investment community which multiple sources estimate holds over $15 billion worth of crypto assets. Moreover, the related non-fungible token, or NFT, market is booming and there’s been an advertising blitz tempting Indians to invest in cryptos. Read more

Big Indian companies are steping up investments following the post pandemic

Big Indian companies are steping up investments following the post pandemic
Friday, October 22, 2021
With healthy cash reserves and aided by stronger balance sheets post-Covid, Indian companies are looking to step up their capital expenditure and investment plans. Industry captains and analysts say a mix of factors such as accommodative monetary policy and lower interest rates, reduced corporate tax rates and government incentives such as Production-Linked Incentive (PLI) scheme, global liquidity, and upward commodities cycle are fueling optimism among companies. "Corporates are sitting on cash as profitability has picked up in the post-pandemic period. They are looking to invest in order to capture available opportunities of increased government spending, divestment, consumer demand revival, and export market. PLI scheme and revival of real estate and housing will make a positive impact on the investment cycle. We believe sectors like IT pharma steel, sugar, cement, real estate, and infrastructure will take lead on investment" says an economic expert. Read more

Adani to invest $20 bn in renewable energy in 10 years

Adani to invest $20 bn in renewable energy in 10 years
Tuesday, September 21, 2021
Adani Group is the world's largest renewable power generating company by 2030, as his group will invest USD 20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron. The port-to-energy conglomerate plans to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centers with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 percent of capital expenditure until 2025 in green technologies, he said. Adani Group's "integrated value chain, our scale, and experience put us on the path to be the producer of the least expensive green electron anywhere in the world," he said. The announcement came weeks after India's richest man Mukesh Ambani announced an investment of Rs 75,000 crore (USD 10 billion) in clean power and hydrogen fuel over three years. Read more

Government will select the winner in Air India’s disinvestment in about three weeks

Government will select the winner in Air India’s disinvestment in about three weeks
Friday, September 17, 2021
The government will select the winner in Air India’s disinvestment in about three weeks and two high-level committees will finalise the reserve price for the national carrier within this period. The reserve price of the carrier will be soon decided by the inter-ministerial group (IMG) headed by the secretary, Department of Investment and Public Asset Management (DIPAM), based on the inputs from government-appointed valuers. The Core Group of Secretaries on Divestment (CGD), chaired by the cabinet secretary, will then consider the IMG’s recommendation. The Tata group and SpiceJet promoter Ajay Singh are in the race to acquire the loss-making airline. This process is being targeted to be completed in three weeks, said a top government official. The security clearance of the bidders who have shown an interest by placing financial bids is underway, he added. Read more

India will continue to be a favoured investment destination

India will continue to be a favoured investment destination
Monday, August 30, 2021
India will continue to be a favoured investment destination like we have seen in the last 20 years. Markets have probably discounted a gradual tapering by the US Fed. Recently, small caps and commodities did correct more than large caps. However, keeping the short-term reactions aside, the impact of any taper really depends on the circumstances under which the US Fed starts tapering, according to some analysts. The upside potential in large caps is probably in single-digit percentages. As far as small and mid-caps are concerned, valuations are stretched after the super run of the past 12 months and for the first time in over a decade, the mid-cap indices’ valuations are at a premium to large-caps. Read more

Flipcart is valued now at $37.6 after raising $3.6 bn in funding

Flipcart is valued now at $37.6 after raising $3.6 bn in funding
Monday, July 12, 2021
E-commerce company Flipkart Group said it has raised $3.6 billion in funding in a round led by international groups that included Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2, and Tiger Global. The investment values Flipkart at $37.6 billion post-money. The round also saw participation from other sovereign funds including DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, and marquee investors Willoughby Capital, Antara Capital, Franklin Templeton, Tencent, and Tiger Global. The investment values the Group at USD 37.6 billion (about Rs 2.79 lakh crore) post-money, Flipkart said in a statement. The company, which competes with Amazon, Reliance Industries’ JioMart, and others in the burgeoning Indian e-commerce market, said it will continue to make deeper investments across people, technology, supply chain, and infrastructure to address the requirements of a rapidly growing consumer base in the country. Read more

Mukesh Ambani announces big bang into solar new energy,JioPhone Next

Mukesh Ambani announces big bang into solar new energy,JioPhone Next
Thursday, June 24, 2021
Billionaire Mukesh Ambani on Thursday announced a Rs 75,000 crore investment in setting up four 'Giga' factories to make solar photovoltaic cells, green hydrogen, batteries, and fuel cells over the next three years. He also said Reliance will set up 100 GW of solar power generating capacity. India will present to the world a template of a Green Economy Movement. We will build two additional divisions to further strengthen the green energy ecosystem. He also announced the launch of JioPhone Next, a fully-featured smartphone, that is developed in partnership with Google.JioPhone next will be launched first in India on September 10, and later it will be taken to many other countries. Mukesh Ambani said that Jio will use Google Cloud's next-generation technologies to power Jio's 5G solutions. Read more

Nifty PSU Bank index gains 4% after the news of divestment in the Central Bank of India and Indian Overseas Bank

Nifty PSU Bank index gains 4% after the news of divestment in the Central Bank of India and Indian Overseas Bank
Monday, June 21, 2021
Shares of Central Bank of India, Indian Overseas Bank (IOB) J&K Bank were locked in 20 percent upper circuit on the National Stock Exchange (NSE) on Monday on the back of heavy volumes amid reports that the two financial institutions CBI and IOB might be privatized. On the back of the rally in these three stocks Nifty PSU Bank index surged as much as 4.4 percent to 2,484.15 levels. All of the 13 constituents of the pack traded in the green with maximum gains seen for the counters such as J&K Bank, Indian Overseas Bank, and Central Bank. “Disinvestment news in CBI and IOB lead the rally in PSU Banking basket. For taking ahead of the divestment process, the center shall amend the Banking Regulations Act together with other banking laws. Read more

Investment activity hits historic low in FY21 due to pandemic

Investment activity hits historic low in FY21 due to pandemic
Tuesday, June 1, 2021
In the fourth quarter of the financial year, 2020-21 (Q4FY21) investment activity revived to a seven-quarter high and demand recovered to a five-quarter high but this may not sustain because of the impact of the second wave of Covid-19 on rural demand and corporate spending, feel economists. The better-than-expected economic growth in Q4 was largely led by a spike in government spending and double-digit growth in investment activity, owing to a low base. However, for the whole of FY21, growth in investment and consumption touched a historic low as the country grappled with the impact of the nationwide lockdown in Q1. Read more

Accumulate stocks of PSUs that are likely to be disinvested say analysts

Accumulate stocks of PSUs that are likely to be disinvested say analysts
Tuesday, May 4, 2021
Analysts suggest investors accumulate stocks of PSUs, especially the ones that are likely to be disinvested, at the current levels from a medium-to-long-term perspective. “There are a lot of PSU stocks that have not participated in the market rally. The fall from their peak levels is a good opportunity to buy from a medium-to-long-term horizon. I am confident that the government will be able to achieve the fiscal 2021-22 (FY22) divestment target. Due to the ongoing second wave of Covid, it may dole out some relief measures, which will cost money. To fund such initiatives, it will have to go aggressive on divestment once the market conditions improve,” say experts. Read more

IDBI Bank gains 11 per cent on divestment proposal

IDBI Bank gains 11 per cent on divestment proposal
Tuesday, April 13, 2021
Shares of IDBI Bank jumped 10.6 per cent to hit an intra-day high of Rs 37.4 on the BSE on Tuesday after a Business Standard report stated that the Cabinet will soon consider the proposal to sell the government’s 45.5 per cent stake in the company, paving the way for strategic divestment in the lender. The cabinet approval will give the Department of Investment and Public Asset Management (DIPAM) the authority to move ahead with the divestment process,. The government had planned to sell its balance stake in IDBI Bank to private, retail, and institutional investors through the stock exchange in the last financial year. However, the pandemic delayed the plan, which the government intends to complete this year."DIPAM cannot move forward with the divestment process until approval from the cabinet is received, given that banks come under work allocation of the DFS. After the cabinet's approval, intermediaries can be appointed," an official told Business Standard.

Panacea Biotec surges 20% as company to make 100 mn Sputnik V doses yearly

Panacea Biotec surges 20% as company to make 100 mn Sputnik V doses yearly
Tuesday, April 6, 2021
Shares of Panacea Biotec were locked in the upper circuit of 20 per cent at Rs 220.85 on the BSE in Tuesday's session after the company and the Russian Direct Investment Fund (RDIF) agreed to produce 100 million doses of Sputnik V vaccine in India per year.Production of Sputnik V at Panacea Biotec sites will help facilitate the global supply of Sputnik V to international partners of RDIF, a joint statement said.Panacea Biotec will produce Sputnik V in its internationally accredited facilities complying to strict GMP standards and prequalified by the World Health Organization (WHO), he added. Efficacy of Sputnik V is 91.6 per cent as confirmed by the data published in the Lancet, one of the world's oldest and most respected medical journals," the release said.

Private sector investments will pick up soon, say experts

Private sector investments will pick up soon, say experts
Saturday, February 27, 2021
Investments in India grew after a gap of three quarters, driven by the government, while demand contracted for the third consecutive quarter during October-December (Q3) of the financial year 2020-21 (FY21). Even then, investments remained subdued, growing by a marginal 2.56 percent in Q3FY21. It had started declining even before the pandemic started impacting India’s economy. Gross fixed capital formation (GFCF) contracted by 6.48 percent in Q4FY20. It plunged in Q1FY21 before returning to earlier levels in Q2. according to experts investments in Q3 were driven purely by the government. This is backed up by the data from the Centre for Monitoring Indian Economy (CMIE), which showed that investments in new projects declined to Rs 0.91 trillion in Q3, compared with Rs 1.15 in Q2. Investment activity reverted to growth, supported by high levels of public investment spending, said Rahul Bajoria, chief economist at Barclays India. Read more

India to clear 45 investments from China

India to clear 45 investments from China
Monday, February 22, 2021
India may clear 45 investment proposals from China, which are likely to include those from Great Wall Motor and SAIC Motor Corp, according to government and industry sources, as military tensions between the two countries ease at the disputed border. The proposals have been held up since last year after India tightened controls on Chinese investment in the country in retaliation against alleged Chinese troop incursions in the western Himalayan region. China blamed Indian troops for the standoff. About 150 investment proposals from China worth more than $2 billion were stuck in the pipeline. Companies from Japan and the U.S. routing investment through Hong Kong were also caught in the cross-fire as an inter-ministerial panel led by the home ministry increased scrutiny of such proposals. Read more

SC upholds validity of e-voting for winding up Franklin Templeton's 6 MFs

SC upholds validity of e-voting for winding up Franklin Templeton's 6 MFs
Friday, February 12, 2021
The Supreme Court today(12th Feb.2021) upheld the validity of the e-voting process for winding up of six mutual fund schemes of Franklin Templeton and said disbursal of funds to unitholders will continue. A bench of justices S A Nazeer and Sanjiv Khanna, while rejecting the opposition by some unitholders to the e-voting process, said disbursal of funds has to be done as per the earlier order of the apex court. The top court had on February 2 ordered that Rs 9,122 crore be disbursed within three weeks to the unitholders of Franklin Templeton's six mutual fund schemes which are proposed to be wound up. It had said that disbursal of money would be done in proportion to unitholders' interest in the assets. Earlier, the apex court had asked the Securities and Exchange Board of India (SEBI) to appoint an observer for overseeing the e-voting process. Read more

Budget 2021: Special facility to be available for FDI proposals worth over Rs 3,000 cr

Budget 2021: Special facility to be available for FDI proposals worth over Rs 3,000 cr
Tuesday, January 19, 2021
GOI is planning to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction, according to sources. An announcement in this regard may happen in the Union Budget, scheduled to be presented on February 1. Some strategically important foreign investors include Canada pension fund CDPQ, GIC (Singapore), the Qatar Investment Authority, Temasek (Singapore), and the Abu Dhabi Investment Authority. Most of them met Prime Minister Narendra Modi through virtual meetings in early November. It is learned that foreign investors showed faith in the government’s recent initiatives and reforms. Through this window, foreign funds would receive a response from the government within three days, so that such a proposal can be fast-tracked. Also, the window will act as a point of contact between investors and the various ministries and departments concerned.

Abu Dhabi plans to export hydrogen for fuel

Abu Dhabi plans to export hydrogen for fuel
Monday, January 18, 2021
Abu Dhabi National Oil Co. formed an alliance with Mubadala Investment Co. and ADQ to produce hydrogen from natural gas and renewable energy and to market the fuel overseas as well as in the United Arab Emirates, ADQ said in a statement. In a related deal, Abu Dhabi Future Energy Co., also known as Masdar, agreed with Siemens Energy AG to develop a facility to make green hydrogen at Masdar City in Abu Dhabi, Mubadala said in a statement. Munich-based Siemens Energy is already building a hydrogen demonstration plant at the Mohammed bin Rashid Al Maktoum Solar Park in the neighboring emirate of Dubai. Some Middle Eastern states are seeking to develop hydrogen as fuel, given a shift among some of their buyers toward less-polluting alternatives to crude. Saudi Arabia’s energy minister has said he wants the kingdom -- the world’s biggest oil exporter -- to become the largest shipper of hydrogen.

Bharat Petroleum Corporation Shares Fall 5% After Govt receives EoI for divestment

Bharat Petroleum Corporation Shares Fall 5% After Govt receives EoI for divestment
Tuesday, November 17, 2020
Shares of Bharat Petroleum Corporation Limited (BPCL) declined 5 per cent to ₹ 392.35 apiece on the BSE in the intra-day trade on Tuesday after the government said it received multiple bids for privatisation of the country's second-largest fuel retailer. In the past one-month oil marketing company BPCL share has surged 27 per cent. The sale is crucial for the government in order to meet its disinvestment target of Rs 2.1 trillion for the current fiscal year. The government has not revealed the number of bidders. The transaction advisors for the sale of government 52.98 per cent stake in Bharat Petroleum which is worth ₹ 47,430 crores have reported receiving "multiple expressions of interest", Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said. Strategic disinvestment of BPCL progresses, Now moves to the second stage after multiple expressions of interest have been received," Finance Minister Nirmala Sitharaman said on Twitter.

Walmart in talks to invest $25 bn in Tata Group's 'super app

Walmart in talks to invest $25 bn in Tata Group's 'super app
Tuesday, September 29, 2020
Walmart is in talks with Tata Group for a potential investment of up to $25 billion in a proposed super app. As per discussions reported between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report. The news comes as Reliance Industries Ltd, controlled by Asia's richest man Mukesh Ambani, raised over $20 billion from investors including Facebook, Alphabet's Google, KKR & Co and Silver Lake Partners by selling stakes in its digital business Jio Platforms. The super app, which is scheduled to be launched in India in December or January, will bring together Tata's consumer business under one channel offering a wide range of products in the retail space, Mint said. Tata's consumer businesses include watch and jewellery brand Titan and fashion retail chain, Trent. Read more

The bull-run in markets will continue:Goldman Sachs

The bull-run in markets will continue:Goldman Sachs
Tuesday, September 8, 2020
Analysts at Goldman Sachs believe that, the market rally that started in March 2020 after hitting their lowest point 2020 has more legs, and cautions that there could be intermittent corrections along the way. "Markets, are in the first phase of a new investment cycle, which it calls a ‘Hope’ phase, following a deep recession. Investors, it says, start to anticipate a recovery in this phase and is typically the strongest part of the cycle, Goldman Sachs says. “That is what we have been seeing this year. The main triggers for the rebound, in our view, were a combination of slowing infection rates and extraordinary policy support. Financial conditions, which were tightening sharply in the early part of the lockdown, eased rapidly and governments implemented extraordinary fiscal support packages,” wrote, chief global equity strategist and head of macro research at Goldman Sachs in yesterday's report. Read more

Soon we will have private run passenger trains!

Soon we will have private run passenger trains!
Thursday, July 2, 2020
The Indian Railways formally kickstarted on 1st July 2020 its plans to allow private entities to operate passenger trains on its network by inviting request for qualifications (RFQ) for participation on 109 pairs of routes through 151 modern trains, the national transporter said. The project would entail a private sector investment of about Rs 30,000 crore, the national transporter said. This is the first initiative for private investment for running passenger trains on the Indian Railways network. "The objective of this initiative is to introduce modern technology rolling stock with reduced maintenance, reduced transit time, boost job creation, provide enhanced safety, provide world-class travel experience to passengers," the Railways said. Read more

Fin Min invites bids for advising it on the proposed initial public offer of LIC

Fin Min invites bids for advising it on the proposed initial public offer of LIC
Friday, June 19, 2020
The Finance Ministry today (19th June 2020) Kick-started the process of LIC disinvestment, by inviting bids from consulting firms, investment bankers, and financial institutions for advising it on the proposed initial public offer. The government proposes to engage up to two pre-IPO transaction advisors, for assisting the Department of Investment and Public Asset Management (DIPAM) in the preparatory processes leading to the Initial Public Offer (IPO) of Life Insurance Corporation of India (LICI), tipped to be the largest ever in the country. The advisors can submit their bids from today till July 13, 2020. The bids would be opened by DIPAM on July 14. Read more

Investing in global funds make better sense

Investing in global funds make better sense
Wednesday, June 10, 2020
More investors are getting attracted to US markets as they hit new highs in the past few days. In May 2020, mutual fund schemes investing in the overseas market gave returns of 3.98 percent — the highest category average returns, according to the Value Research data. “While it is natural to have a home bias while building a portfolio if you look at the last 10 years, the Indian equity markets have given no returns in dollar terms. In comparison, the top three markets are the US (10 percent a year), Taiwan (7 percent a year), and China (5 percent a year) over 10 years as of March 2020.” say experts. Read more

RIL share price hits all-time high as Co to sell 1.6% stake in Jio to ADIA

RIL share price hits all-time high as Co to sell 1.6% stake in Jio to ADIA
Monday, June 8, 2020
Reliance Industries share price climbed a new peak on BSE in Monday’s session as it gained 2.7 per cent to Rs 1,624 a day after the oil-to-telecom behemoth announced 1.16 per cent stake sale in Jio Platforms, its digital services subsidiary, to Abu Dhabi Investment Authority (ADIA) for Rs 5,683.50 crore, as it accelerates its debt reduction plan. RIL shares have surged 87 per cent from its 52-week low of Rs 867.82 touched on March 23. This is the eighth investment in Jio Platforms in seven weeks and values the company at Rs 4.91 trillion on equity value basis. So far, RIL has raised Rs 97,885.65 crore through 21.06 per cent stake sale to seven marquee investors, including Facebook and private equity firms like KKR, Vista Equity Partners, Mubadala and General Atlantic. Besides, US private equity firm Silver Lake also announced an additional investment of Rs 4,546.80 crore in the telecommunications arm of Reliance Industries Ltd. Read more

Is this a good time to invest in gold bonds?

Is this a good time to invest in gold bonds?
Thursday, April 23, 2020
RBI has announced Series-I of the sovereign gold bond (SGB) scheme for 2020-21. Investors are wondering if this is a good time to invest in the yellow metal. It has run up nearly 100 percent in the past year. Under the scheme, one can buy a minimum of 1 gm of gold at Rs 4,639 per gm, with Rs 50-discount on a purchase made online. The upper limit for investing via SGBs is 4 kilos of gold. You also get 2.5 percent interest on the initial investment, payable every six months. The subscription is open till April 24. Read more

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