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The average price of 10 grams of 22K Gold stood at ₹67,000 while the cost for 24K gold prices stood at ₹73,090 and 1 kg silver stood at ₹93,200

Gold, Silver Price Today July 05, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

<h2>The average price of 10 grams of 22K Gold stood at ₹67,000 while the cost for 24K gold prices stood at ₹73,090 and 1 kg silver stood at ₹93,200</h2>

Gold Silver Price Today July 05 2024: Both gold and silver prices increased on the Multi Commodity Index on Friday.
The average price of 10 gram of 22K Gold stood at ₹67,000 while the 24K gold prices stood at ₹73,090
The rate of 10 grams of 24K gold in Chennai stood at ₹73,750, which was followed by Delhi and Jaipur where the gold costs ₹73,240.&nbsp;
The average price of 1 kg of silver stood at ₹93,200
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹97,700 followed by Delhi, Mumbai where the metal was sold at ₹93,200
<h3>24 Carat Gold Price Today 05 July (per 10gm) - Indian Top Cities</h3>
Delhi - ₹73,240 Chennai - ₹73,750 Mumbai - ₹73,090 Kolkata - ₹73,090 Bengaluru - ₹73,090
<h3>1 KG Silver Price Today 05 July - Indian Top Cities</h3>
Delhi - ₹93,200 Chennai - ₹97,000 Mumbai - ₹93,200 Kolkata - ₹93,200 Bengaluru - ₹90,700
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

The average price of 10 grams of 22K Gold stood at ₹67,000 while the cost for 24K gold prices stood at ₹73,090 and 1 kg silver stood at ₹93,000

Gold, Silver Price Today July 04, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

<h2>The average price of 10 grams of 22K Gold stood at ₹67,000 while the cost for 24K gold prices stood at ₹73,090 and 1 kg silver stood at ₹93,000</h2>

Gold Silver Price Today July 04 2024:&nbsp; Gold prices slipped while Silver prices increased on the Multi Commodity Index on Thursday.
The average price of 10 gram of 22K Gold stood at ₹67,000 while the 24K gold prices stood at ₹73,090
The rate of 10 grams of 24K gold in Chennai stood at ₹73,750, which was followed by Delhi and Jaipur where the gold costs ₹73,240.&nbsp;
The average price of 1 kg of silver stood at ₹93,000
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹97,500 followed by Delhi, Mumbai where the metal was sold at ₹93,000
<h3>24 Carat Gold Price Today 04 July (per 10gm) - Indian Top Cities</h3>
Delhi - ₹73,240 Chennai - ₹73,750 Mumbai - ₹73,090 Kolkata - ₹73,090 Bengaluru - ₹73,090
<h3>1 KG Silver Price Today 04 July - Indian Top Cities</h3>
Delhi - ₹91,500 Chennai - ₹97,500 Mumbai - ₹93,000 Kolkata - ₹93,000 Bengaluru - ₹90,600
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

The average price of 10 grams of 22K Gold stood at ₹66,350 while the cost for 24K gold prices stood at ₹72,380 and 1 kg silver stood at ₹91,500

Gold, Silver Price Today July 03, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

<h2>The average price of 10 grams of 22K Gold stood at ₹66,350 while the cost for 24K gold prices stood at ₹72,380 and 1 kg silver stood at ₹91,500</h2>

Gold Silver Price Today July 03 2024:&nbsp; Both Gold and Silver prices increased on the Multi Commodity Index on Wednesday.
The average price of 10 gram of 22K Gold stood at ₹66,350 while the 24K gold prices stood at ₹72,380
The rate of 10 grams of 24K gold in Chennai stood at ₹73,040, which was followed by Delhi and Jaipur where the gold costs ₹72,530.&nbsp;
The average price of 1 kg of silver stood at ₹91,500
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹95,500 followed by Delhi, Mumbai where the metal was sold at ₹91,000
<h3>24 Carat Gold Price Today 03 July (per 10gm) - Indian Top Cities</h3>
Delhi - ₹72,530 Chennai - ₹73,040 Mumbai - ₹72,380 Kolkata - ₹72,380 Bengaluru - ₹72,380
<h3>1 KG Silver Price Today 03 July - Indian Top Cities</h3>
Delhi - ₹91,500 Chennai - ₹96,000 Mumbai - ₹91,500 Kolkata - ₹91,500 Bengaluru - ₹90,500
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

The average price of 10 grams of 22K Gold stood at ₹66,350 while the cost for 24K gold prices stood at ₹72,380 and 1 kg silver stood at ₹91,000

Gold, Silver Price Today July 02, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

<h2>The average price of 10 grams of 22K Gold stood at ₹66,350 while the cost for 24K gold prices stood at ₹72,380 and 1 kg silver stood at ₹91,000</h2>

Gold Silver Price Today July 02 2024:&nbsp; Gold prices declined while Silver prices increased on the Multi Commodity Index on Tuesday.
The average price of 10 gram of 22K Gold stood at ₹66,350 while the 24K gold prices stood at ₹72,380
The rate of 10 grams of 24K gold in Chennai stood at ₹72,980, which was followed by Delhi and Jaipur where the gold costs ₹72,530.&nbsp;
The average price of 1 kg of silver stood at ₹91,000
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹95,500 followed by Delhi, Mumbai where the metal was sold at ₹91,000
<h3>24 Carat Gold Price Today 02 July (per 10gm) - Indian Top Cities</h3>
Delhi - ₹72,530 Chennai - ₹72,980 Mumbai - ₹72,380 Kolkata - ₹72,380 Bengaluru - ₹72,380
<h3>1 KG Silver Price Today 02 July - Indian Top Cities</h3>
Delhi - ₹91,000 Chennai - ₹95,500 Mumbai - ₹91,000 Kolkata - ₹91,000 Bengaluru - ₹90,050
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

The average price of 10 grams of 22K Gold stood at ₹66,250 while the cost for 24K gold prices stood at ₹72,280 and 1 kg silver stood at ₹90,200

Gold, Silver Price Today July 01, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

<h2>The average price of 10 grams of 22K Gold stood at ₹66,250 while the cost for 24K gold prices stood at ₹72,280 and 1 kg silver stood at ₹90,200</h2>

Gold Silver Price Today July 01 2024: &nbsp;Both Gold and Silver prices declined on the Multi Commodity Index on Monday.
The average price of 10 gram of 22K Gold stood at ₹66,250 while the 24K gold prices stood at ₹72,280
The rate of 10 grams of 24K gold in Chennai stood at ₹72,930, which was followed by Delhi and Jaipur where the gold costs ₹72,420.&nbsp;
The average price of 1 kg of silver stood at ₹90,200
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹94,700 followed by Delhi, Mumbai where the metal was sold at ₹90,200
<h3>24 Carat Gold Price Today 01 July (per 10gm) - Indian Top Cities</h3>
Delhi - ₹72,420 Chennai - ₹72,930 Mumbai - ₹72,280 Kolkata - ₹72,280 Bengaluru - ₹72,280
<h3>1 KG Silver Price Today 01 July - Indian Top Cities</h3>
Delhi - ₹90,200 Chennai - ₹94,700 Mumbai - ₹90,200 Kolkata - ₹90,200 Bengaluru - ₹90,150
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

July brings key financial changes: FY25 budget presentation, income tax return deadline, Paytm closing inactive wallets, and changes to credit card rules and lounge access policies

Here are 6 key financial changes that will impact you in July

<h2>July brings key financial changes: FY25 budget presentation, income tax return deadline, Paytm closing inactive wallets, and changes to credit card rules and lounge access policies</h2>

From income tax filing to full budget for FY25, July is set to have a major impact on citizens' wallets. Here are the key financial changes that will impact your money.
<h3>Full Budget FY25</h3>
The newly elected NDA government is all set to present the full Union budget for FY25 in the third week of July. As per Mint, experts expect Finance Minister Nirmala Sitharaman to increase the basic exemption limit under both tax regimes and more deductions on medical expenses.
As per Mint, Investors want relaxed taxation rules on debt mutual funds and have demanded a separate tax deduction bucket for life insurance premiums.
<h3>Income Tax returns</h3>
July 31 is the last date to file your income-tax returns for assessment year 2024-25. To avoid last-minute rush, consequent mistakes and glitches or heavy traffic, initiate the process sooner rather than waiting for the last minute.
<h3>Nomination for Joint Mutual Funds</h3>
SEBI had issued a circular that it will not freeze the mutual funds portfolios and demat accounts that has not named a nominee. SEBI had, in December last, extended the deadline until June 30, for mutual fund investors to complete/update their nominations. However, investors need not worry their funds getting frozen in July now.
<h3>Paytm wallet closure</h3>
On July 20, 2024, Paytm Payments Bank will close wallets with NIL balances and no transactions for over a year.
Please note that all wallets which do not have any transactions for the last 1 year or more and have nil balance, shall be closed w.e.f. July 20th, 2024. Communication will be sent to all impacted users and users will be given 30 days' notice period, before closing their wallet", the bank's website states
<h3>Credit card rule change</h3>
Several credit cards will be facing rule changes. From July 1, 2024, SBI Card will discontinue the accrual of reward points on government-related transactions for several credit cards. &nbsp;ICICI Bank will implement changes to various credit card service charges including an increase in the card replacement fee from Rs 100 to Rs 200.
The migration of Citi credit cards to Axis Bank will be completed by July 15. Axis Bank has already launched some new card variants to migrate Citi credit card users to Axis Bank with almost the same benefits.&nbsp;
<h3>Credit card lounge access policy&nbsp;</h3>
Punjab National Bank (PNB) has announced changes to the lounge access program for all Rupay Platinum Debit Card variations. The changes include, one domestic airport or railway lounge access per quarter, two international airport lounge accesses per year.&nbsp;
YES Bank credit cardholders will be able to unlock complimentary domestic lounge access by spending Rs 35,000 or more in a calendar quarter.&nbsp;
Also watch: <a href="https://www.editorji.com/business-news/markets/banks-to-remain-closed-for-12-days-in-july-due-to-holidays-and-weekends-1719486741359">Banks to remain closed for 12 days in July due to holidays and weekends</a>

The average price of 10 grams of 22K Gold stood at ₹65,150 while the cost for 24K gold prices stood at ₹72,160 and 1 kg silver stood at ₹90,000

Gold, Silver Price Today June 28, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

<h2>The average price of 10 grams of 22K Gold stood at ₹65,150 while the cost for 24K gold prices stood at ₹72,160 and 1 kg silver stood at ₹90,000</h2>

Gold Silver Price Today June 28 2024: &nbsp;Both Gold and Silver prices declined on the Multi Commodity Index on Friday.
The average price of 10 gram of 22K Gold stood at ₹65,150 while the 24K gold prices stood at ₹72,160
The rate of 10 grams of 24K gold in Chennai stood at ₹72,720, which was followed by Delhi and Jaipur where the gold costs ₹72,330.&nbsp;
The average price of 1 kg of silver stood at ₹90,000
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹94,500 followed by Delhi, Mumbai where the metal was sold at ₹90,000
<h3>24 Carat Gold Price Today 28 June (per 10gm) - Indian Top Cities</h3>
Delhi - ₹72,330 Chennai - ₹72,720 Mumbai - ₹72,160 Kolkata - ₹72,160 Bengaluru - ₹72,160
<h3>1 KG Silver Price Today 28 June - Indian Top Cities</h3>
Delhi - ₹90,000 Chennai - ₹94,500 Mumbai - ₹90,000 Kolkata - ₹90,000 Bengaluru - ₹89,500
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

The average price of 10 grams of 22K Gold stood at ₹65,750 while the cost for 24K gold prices stood at ₹71,730 and 1 kg silver stood at ₹90,000

Gold, Silver Price Today June 27, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

<h2>The average price of 10 grams of 22K Gold stood at ₹65,750 while the cost for 24K gold prices stood at ₹71,730 and 1 kg silver stood at ₹90,000</h2>

Gold Silver Price Today June 27 2024: &nbsp;Both Gold and Silver prices declined on the Multi Commodity Index on Thursday.
The average price of 10 gram of 22K Gold stood at ₹65,750 while the 24K gold prices stood at ₹71,730
The rate of 10 grams of 24K gold in Chennai stood at ₹72,280, which was followed by Delhi and Jaipur where the gold costs ₹71,880.&nbsp;
The average price of 1 kg of silver stood at ₹90,000
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹94,500 followed by Delhi, Mumbai where the metal was sold at ₹90,000
<h3>24 Carat Gold Price Today 27 June (per 10gm) - Indian Top Cities</h3>
Delhi - ₹71,880 Chennai - ₹72,280 Mumbai - ₹71,730 Kolkata - ₹71,730 Bengaluru - ₹71,730
<h3>1 KG Silver Price Today 27 June - Indian Top Cities</h3>
Delhi - ₹90,000 Chennai - ₹94,500 Mumbai - ₹90,000 Kolkata - ₹90,000 Bengaluru - ₹89,500
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

Passenger vehicles posted their highest ever sales of November in 2024 of 3.48 lakh units, with a growth of 4.1 per cent as compared to November 2023, he added.

Passenger Vehicle dispatches rise 4% in Nov as demand sustains post-festive period: SIAM

Passenger vehicles posted their highest ever sales of November in 2024 of 3.48 lakh units, with a growth of 4.1 per cent as compared to November 2023, he added.

Passenger vehicle dispatches from companies to dealerships rose 4 per cent year on year to 3,47,522 units in November with demand momentum sustaining post festive period in October, industry body SIAM said on Friday.
The overall passenger vehicle dispatches stood at 3,33,833 units in November last year.
Market leader Maruti Suzuki India dispatched 1,41,312 units to its dealers last month, an increase of 5 per cent as compared with 1,34,158 units in November last year.
Hyundai Motor India dispatches declined to 48,246 units last month as against 49,451 units in the year-ago period.
Mahindra &amp; Mahindra sales stood at 46,222 units last month as compared with 39,981 units in November last year, a growth of 16 per cent Two-wheeler wholesales, however, declined by 1 per cent year on year to 16,04,749 units last month compared with 16,23,399 units in the same month last year.
Scooter sales rose 12 per cent year on year to 5,68,580 units last month while bike dispatches fell 7.5 per cent to 9,90,246 units.
Moped wholesales rose 6 per cent year on year to 45,923 units last month as compared with 43,482 units in November 2023.
Total three-wheeler dispatches also witnessed a 1 per cent year-on-year dip to 59,350 units in November, the Society of Indian Automobile Manufacturers (SIAM) said in a statement.
"The demand momentum which was seen in October during the festive period has continued in November for the industry as a whole, although two-wheeler and three-wheeler segments witnessed minor de-growth in November 2024," SIAM Director General Rajesh Menon said.
Passenger vehicles posted their highest ever sales of November in 2024 of 3.48 lakh units, with a growth of 4.1 per cent as compared to November 2023, he added.
Though the Diwali festival did not fall in November 2024, the two-wheeler segment posted sales of 16.05 lakh units, crossing the 16 lakh units mark for the first time in a non-Diwali November, Menon stated.
(Except for the headline, this story has not been edited by Editorji News Desk and is published from a syndicated feed.)

Personal Finance

According to Consumer Price Index (CPI) data released by the National Statistics Office (NSO), the inflation in the food basked reduced to 9.04 per cent in November.

Retail inflation eases to 5.48 per cent in November: Govt

According to Consumer Price Index (CPI) data released by the National Statistics Office (NSO), the inflation in the food basked reduced to 9.04 per cent in November.

Retail inflation slowed to 5.48 per cent in November compared to 6.21 pc in October, mainly due to easing food prices, especially vegetables, according to government data released on Thursday.
According to Consumer Price Index (CPI) data released by the National Statistics Office (NSO), the inflation in the food basked reduced to 9.04 per cent in November. It was 10.87 per cent in October and 8.70 per cent in November 2023.
&ldquo;During the month of November 2024, a significant decline in inflation is observed in vegetables, pulses and products, sugar and confectionary, fruits, eggs, milk and products, spices, transport and communication and personal care and effects subgroups,&rdquo; the NSO said. The CPI-based headline inflation increased from an average of 3.6 per cent during July-August to 5.5 per cent in September and further to 6.2 per cent in October 2024, the highest in more than a year since September 2023.
Last week, the Reserve Bank raised the inflation projection for the current fiscal to 4.8 per cent from 4.5 per cent. It also said that the lingering food price pressures are likely to keep headline inflation elevated in the December quarter.
Consumer price index (CPI)-based headline inflation increased from an average of 3.6 per cent during July-August to 5.5 per cent in September and further to 6.2 per cent in October 2024.

The percentage of inoperative PMJDY accounts for public sector banks (PSBs) declined from 39.62 per cent in March 2017 to 20.91 per cent in November 2024.

Pradhan Mantri Jan Dhan Yojana: 11.30 Crore Accounts Inoperative, ₹14,750 Crore Locked

The percentage of inoperative PMJDY accounts for public sector banks (PSBs) declined from 39.62 per cent in March 2017 to 20.91 per cent in November 2024.

A total of 54.03 crore accounts have been opened under Pradhan Mantri Jan Dhan Yojana (PMJDY), of which 11.30 crore accounts are inoperative, Parliament was informed on Tuesday.
In a written reply to a question in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said the inoperative banks have a balance of Rs 14,750 crore as of November 20, 2024.
The percentage of inoperative PMJDY accounts for public sector banks (PSBs) declined from 39.62 per cent in March 2017 to 20.91 per cent in November 2024.
As per Reserve Bank of India (RBI) guidelines, a saving, as well as a current account, should be treated as inoperative/ dormant, if there are no customer-induced transactions in the account for over two years.
Banks continuously make concerted efforts to monitor the percentage of operative accounts and the progress is being regularly monitored by the government, Chaudhary said.
Further, banks have been advised to take necessary steps urgently to bring down the number of inoperative accounts and make the process of activation of such accounts smoother and hassle-free, including by enabling seamless updation of KYC through mobile/internet banking, non-home branches, Video Customer Identification Process, etc.

Hindustan Coca-Cola Beverages is the largest bottler of Coca-Cola products in India, managing a portfolio of 37 products across eight categories, including soft drinks, juices, and energy drinks. 

Coca-Cola Sells 40% Stake in Indian Bottling Arm to Jubilant Bhartia Group in Strategic Shift

Hindustan Coca-Cola Beverages is the largest bottler of Coca-Cola products in India, managing a portfolio of 37 products across eight categories, including soft drinks, juices, and energy drinks.

In a major development within India&rsquo;s beverage sector, Coca-Cola has sold a 40% stake in its Indian bottling arm, Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL), to the Jubilant Bhartia Group for approximately ₹12,500 crore. This deal marks a significant step in Coca-Cola&rsquo;s ongoing efforts to adapt to changing market dynamics and reduce its exposure in bottling operations globally, adopting an asset-light business strategy.
Strategic Shift in Coca-Cola&rsquo;s India Operations
The transaction was formalized through an agreement between Coca-Cola and the Jubilant Bhartia Group, a diversified conglomerate with a global presence spanning multiple sectors. The move positions the Bhartia family as a key player in India&rsquo;s rapidly expanding beverage market, where Coca-Cola&rsquo;s bottling arm has a dominant position.
Hindustan Coca-Cola Beverages is the largest bottler of Coca-Cola products in India, managing a portfolio of 37 products across eight categories, including soft drinks, juices, and energy drinks. The company has been a major revenue generator for Coca-Cola India, and its strategic importance is underscored by the fact that India is Coca-Cola&rsquo;s fifth-largest global market by volume.
According to a joint statement from Coca-Cola, the investment reflects the company&rsquo;s goal to &ldquo;refresh the world and make a difference,&rdquo; with the Bhartia family&rsquo;s experience and expertise expected to drive further growth in India. The move is part of Coca-Cola's broader strategy of transitioning towards an asset-light model, similar to that of rival PepsiCo, which has shifted its bottling operations to Varun Beverages.
Investment Details and Financing Structure
The deal is valued at ₹12,500 crore, with the Bhartia family contributing ₹5,000 crore in equity. The remaining amount will be financed through a partnership with Goldman Sachs, which will fund the special purchase vehicle (SPV) created for the deal. The Bhartias also considered alternative financing options with firms like Bain Credit and Apollo Global Management but ultimately chose to partner with Goldman Sachs to avoid over-leveraging their conglomerate.
This acquisition positions Jubilant Bhartia Group as a dominant force in India&rsquo;s beverage industry, poised to further expand its footprint. The company&rsquo;s success in the food and beverage sector, particularly through its ownership of Jubilant FoodWorks, which operates Domino's Pizza in India, is expected to contribute to HCCB&rsquo;s future growth.
Coca-Cola&rsquo;s Asset-Light Strategy
Coca-Cola&rsquo;s decision to sell a portion of its bottling operations in India aligns with its global strategy of adopting an asset-light model. This strategy is focused on reducing direct involvement in manufacturing and distribution, instead outsourcing these functions to local partners. This allows Coca-Cola to focus on brand management, marketing, and innovation while leveraging local expertise for bottling and distribution.
The asset-light strategy mirrors PepsiCo's approach, which previously shifted its bottling operations to Varun Beverages. This restructuring has had a positive impact on the market value of Varun Beverages, which saw significant growth following the move.
Coca-Cola has been reducing its stake in bottling operations worldwide as part of its efforts to streamline operations and focus on high-value areas. This approach is also designed to better cope with the changing dynamics of global supply chains, particularly as the company faces increased competition in emerging markets like India.
HCCB's Financial Performance and Future Plans
Hindustan Coca-Cola Beverages has demonstrated impressive financial growth, reporting a 9.2% increase in revenue to ₹14,021 crore for FY24. In addition, its net profit surged by 247% year-on-year, reaching ₹2,808.3 crore. This growth highlights the expanding opportunities within India&rsquo;s beverage market and the potential for further success under new leadership.
To capitalize on this momentum, HCCB has announced plans to invest $1.5 billion over the next five years to expand its bottling capacities and develop new facilities in Gujarat and Madhya Pradesh. The company&rsquo;s expansion efforts include the establishment of a new ₹3,000 crore facility in Gujarat and a ₹350 crore plant in Madhya Pradesh, which will enhance its production capabilities and support its growing distribution network.
The Indian Beverage Market: A Growing Opportunity
India&rsquo;s beverage market has become highly competitive, with new entrants like Reliance Consumer Products Ltd making inroads with aggressive pricing and innovative product offerings. The revival of the Campa brand by Reliance has disrupted the market, challenging established players like Coca-Cola and PepsiCo.
Despite this, Coca-Cola&rsquo;s strong market presence and the recent investments in HCCB&rsquo;s infrastructure position the company well to maintain its leadership in the Indian market. With a low per capita consumption of packaged soft drinks, India presents significant growth opportunities for Coca-Cola in the coming years. The company&rsquo;s focus on expanding its reach in Tier-II and Tier-III cities is expected to contribute significantly to its growth.
A Changing Landscape
The Coca-Cola-Bhartia deal reflects broader shifts in the global beverage industry, where companies are increasingly looking to partner with local players to expand their presence in emerging markets. The transaction also highlights the growing importance of India as a key growth market for global beverage companies.
As the Bhartia family steps into its new role as a major player in India&rsquo;s beverage sector, Coca-Cola&rsquo;s decision to align with Jubilant Bhartia Group will help the company navigate the challenges and opportunities of India&rsquo;s dynamic market. The deal is expected to pave the way for further innovation, growth, and expansion in the Indian beverage landscape, strengthening the country&rsquo;s position as a crucial market for Coca-Cola&rsquo;s global strategy.

The Indian government is reportedly considering discontinuing the popular Sovereign Gold Bond scheme, citing its complexity and rising costs. Launched in 2015 to curb gold imports, the programme has raised over ₹72,000 crore so far

Gold Investment Alert: India Reportedly Weighs Scrapping Sovereign Gold Bond Scheme

The Indian government is reportedly considering discontinuing the popular Sovereign Gold Bond scheme, citing its complexity and rising costs. Launched in 2015 to curb gold imports, the programme has raised over ₹72,000 crore so far

The Central Government is likely to discontinue the Sovereign Gold Bond (SGB) scheme. According to government sources quoted in a CNBC-TV18 report, the government may not sell any more Sovereign Gold Bond because it's an 'expensive and complex' instrument. The Sovereign Gold Bond scheme was launched in November 2015 to tackle India&rsquo;s rising demand for physical gold. Since its inception, the government has raised a total of ₹72,274 crore through 67 tranches, equivalent of 146.96 tonnes of Gold. In the last few years the popularity of SGBs has soared, with investors buying ₹27,031 crore worth of the bonds in FY24, equivalent to 44.34 tonnes of gold. That shows a four-fold jump from bond sales worth ₹6,551 crore in FY23, representing 12.26 tonnes of gold. The Sovereign Gold Bond scheme has caught the investors&rsquo; fancy due to two factors &ndash; the first one being the surge in gold prices and the second one is the annual interest income. In 2015, when SGBs were launched, gold prices were hovering around ₹2,600 per gram. However, currently gold is trading at almost ₹7,400 per gram, generating a 200% return since the scheme&rsquo;s inception. Now, the sovereign gold bonds are benchmarked to domestic gold prices. This means that investors will get the returns on the bond that reflect the surge in the domestic gold prices. The second factor is the interest income through SGBs. When the government launched this scheme, it promised a 2.5% per annum simple interest return on investment. This return was to lure investors away from physical gold, which was unable to generate any additional income for investors. In 2015 the scheme made sense due to falling prices of gold and government&rsquo;s push to curb gold imports to curb high current account deficit. However, in 2024 it has become an expensive instrument for the government due to the surge in gold prices. In fact, the government has not launched any new tranche of the Sovereign Gold Bonds in almost six months now. The last tranche of SGBs for the 2023-2024 series was available for subscription from February 12, 2024 to February 16, 2024.&nbsp;

Byju's representatives informed Lad that their funds are currently in an escrow account with the National Company Law Tribunal or NCLT and that a hearing is scheduled for July 4

HDFC Bank system upgrade on July 13 to disrupt UPI, NetBanking, and Fund transfers

All fund transfer methods, including IMPS, NEFT, RTGS, HDFC Bank account-to-account online transfers, and branch transfers, will also be unavailable throughout the upgrade

HDFC Bank has announced a scheduled system upgrade on July 13, which will temporarily impact various services. UPI services will be unavailable for customers from 3:00 AM to 3:45 AM and from 9:30 AM to 12:45 PM on July 13, 2024.&nbsp; During the entire upgrade period, NetBanking and Mobile Banking services will be unavailable. The upgrade is scheduled from 3:00 AM to 4:30 PM on 13th July 2024, during a bank holiday to reduce inconvenience.&nbsp; Also read/watch -<a title="Hindenburg Research receives show cause notice from SEBI over Adani stock bets" href="https://www.editorji.com/business-news/hindenburg-research-receives-show-cause-notice-from-sebi-over-adani-stock-bets-1719896503571"> Hindenburg Research receives show cause notice from SEBI over Adani stock bets</a> Additionally, all fund transfer methods, including IMPS, NEFT, RTGS, HDFC Bank account-to-account online transfers, and branch transfers, will also be unavailable throughout the upgrade. Despite these disruptions, customers will still be able to withdraw cash from ATMs using HDFC Bank debit and credit cards, though with restricted limits. Debit and credit cards can also be used on swipe machines at stores and for online purchases.

Equity mutual fund inflows, SIP flows touch new record in June

<h2>As per data revealed by the Association of Mutual Funds of India or AMFI, inflows into equity mutual funds in June touched a record high of over ₹40,000 crore, that's 17% higher than in May.</h2>

Flows into equity mutual funds have continued unabated. As per data revealed by the Association of Mutual Funds of India or AMFI, inflows into equity mutual funds in June touched a record high of over ₹40,000 crore, that's 17% higher than in May. This spike came largely due to increased flows in sectoral and thematic funds which saw around ₹22,000 crore coming in. Total assets under management surpassed the 60 lakh crore mark for the first time in June, touching 61.1 lakh crore. Systematic investment plans of SIP contributions hit a record high for the 12th straight month, hitting 21,262 crore in June. Debt-oriented schemes saw an outflow of over ₹1.07 lakh crore in the month of June, with maximum outflows of over ₹80,000 crore seen in liquid funds.

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