Jewellery stocks are likely to come under pressure as RBI Deputy Governor SS Mundra said the central bank is in discussions with the Government to curb gold imports. October data showed gold imports jumped to $4.17 billion from $1.09 billion a year ago. Action to curb gold flow may have a impact on the supply side, feel analysts. Likes of Thangamayil Jewellery, PC Jeweller and TBZ may come under pressure, if the Centre tightens imports under 80:20 scheme.
Future Retail rights issue opens today
Future Retail and Future Retail DVR will remain in focus at the bourses, as the company fixed Tuesday as ex-date for the proposed rights issue. This means, those who are buying the shares from Tuesday will not be eligible for rights entitlement. The company has fixed the ratio as 5:8 (five shares for every eight held). It offers ₹101 a share for Future Retail shareholders and ₹48.25 for DVR holders. The Kishore Biyani-promoted firm plans to raise ₹1,600 crore through it.
SRS Real infra bonus meet to boost interest
The board of directors of SRS Real Infrastructure will meet on Tuesday to consider the bonus issue of equity shares to existing shareholders. If board approves, then it would be the maiden bonus issue from the company. Last year the company had paid 10 paise or 10 per cent as a dividend (face value ₹1). The company reported a net profit of ₹1.34 crore on revenues of ₹175.56 crore for the June quarter. Retail shareholders hold four per cent in the company.