By Meena Kar,
October 16, (THAINDIAN NEWS) Like every year, this year too the Indian festival of Dhanteras which is celebrated at the time of Diwali brought good business for the gold merchants. Indian investors also had better market conditions on this day. At present the price of 10 gram gold is Rs.16,000 but that had not stopped people from purchasing gold on Dhanteras.

Gitanjali group, one of the leading manufacturer and retailer of jewelries, on Dhanteras had recorded ten percent growth on gold on sale of jewelries and twenty-five percent growth on diamond jewelry sale. As stated by the sources, maximum sale for this group had come from north India. Mehul Choksi, chairman of the Gitanjali Group said, “There was a huge rush for gold-linked investment, particularly gold coins, on Dhanteras and despite the sure in prices, the overall buying mood was bullish.” The market conditions of South India was comparatively dull for the flood that had caused damage recently.

Investors also expected the market to rise for the Diwali. Tata Motors Limited, based in Mumbai had seen a record jump of 260% on the index. They were followed by the Mahindra and Mahindra Limited who recorded a rise of 250%. Tamil Nadu based Sterlite Industries took the third position with a rise of 233% on the stock index.

Many people in India purchased cars on the day of Dhanteras. As stated by sources, Maruti Suzuki delivered approximately twenty thousand cars on this day. It was the highest number of cars delivered by the company in a single day. Last year the company had sold 4000 cars and this year they had targeted to sell more than seven thousand cars on the day. Dhanteras has been a big day for business and earned huge revenue for different companies.