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Shares of Aurobindo Pharma today closed at Rs 736.30 per scrip on BSE, down 1.84 per cent from its previous close. Drug firm Aurobindo Pharma today reported a 23.81 per cent rise in consolidated net profit to Rs 584.96 crore for the first quarter ended June 30, 2016, mainly on account of robust sales.Free MCX Market Tips "Silver is coming fast, the effect will not raise interest rates."
Monday's turnover of Rs 1, even though silver has declined but in the long term bullish sentiment in silver have dominated. Federal Reserve to raise interest rates will not impact on silver prices.
Industrial demand is growing
The solar industry is growing rapidly. Solar industry in total silver demand in 2016 is estimated at 13 per cent, similar Athanail silver oxide production is estimated at 25 per cent of the demand.
In the domestic market during the festive season
Silver starts the festival season demand in the domestic market is likely to grow. Silver is used for jewelery in India Upoyg. Also, silver demand is expected to grow in the global market. Signs of improvement in the US economy and China's silver demand Instriyl.
Prices can go up to 50 thousand