Thangamayil Jewellery Madurai profits jumps up 69 percent

As on date, the price of Gold has increased tremendously. In a day Rs.736 has increased for a sovereign.

Tamil Nadu-based Thangamayil Jewellery Ltd’s second quarter net profit has more than doubled to Rs 22.20 crore.

The Madurai-headquartered company has made a net profit of Rs 8.52 crore in the corresponding quarter last year.

According to company officials, for the quarter ended September 30, 2011, it has registered a growth of 69 per cent in its business.

The jewellery has 13 branches across the state.

Madurai, Rajapalayam, Dindigul, Karaikudi, Ramanathapuram, Theni, Sivakasi, Tuticorin, Salem, Thenkasi.

Electronic Balance (tharasu) Defective in Gold Jewellery Shops in Madurai

This is a very unusual thing in Madurai, but it is happenning. There are Electronic Balance found Defective in Gold Jewellery Shops in Madurai. That is the bad news but, good news is government is conducting raids in Madurai Gold Jewellery shops and taking action against those shops who are having defective Electronic Balances (Tharasu) in Madurai.

The raid was conducted for around 65 shops and out of which 17 Tharasu's Balances were removed and a strict warning and punishment is awaited in future and also for the existing guilty shop owners!

This is Shameful and think about the poor and middle class people who are purchasing Gold with their hard earned money and even a milligram makes a difference in terms of Gold price!!

Half gram gold in Madurai - Akshaya Tritiya/Trithya 2009 on April 27th

Gold is back in favour with consumers shifting their focus on the precious metal on the back of moderation in prices. And Akshaya Tritiya, falling on April 27, may provide a good opportunity for consumers in Madurai and India. But jewellers fear that retail purchasers may not go for the traditional 5-10 gm coins. To counter this, the World Gold Council (WGC), the gold sales promoting agency sponsored by miners, is planning to popularise half-gm gold coins.

“Reducing the coin size will serve two purposes. Consumers will continue to aspire for gold but at a lower investment, thus saving money to fulfill other needs. At the same time, they can also celebrate the occasion which is auspicious for buying gold,” a jeweller said.

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Gold Future: Madurai Live Gold Prices: Gold Rates in India

As the world demand for gold has absorbed quite large quantities of Central banks gold stocks over the past decade, with only a fairly small downward effect on prices, we believe that gold prices are more likely to increase over the next few years than to decrease. Certainly the upside potential must now be considerably stronger than the downside potential.

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