Orosil Smiths India launches ORO (Gold) coins under its brand 'Sincere'

Oro-Coins shall be marketed under the Company’s “Sincere” brand name and is expected to contribute in the revenue considerably.

Nov 26, 2021 09:11 IST India Infoline News Service

Stock Market Trader, Stock Trader, Trading
Orosil Smiths India has launched hallmarked Gold Coins under its “Sincere”’: Gold Jewellery Brand, with specifications of 2.5 gm, 5 gm and 10 gm on Thursday.
  • With the beginning of the wedding season, the Company has announced its new collection of gold coins, which shall be key instrumental in the Company’s business, considering the market expected from its launch. Be it gifting or investment or traditional buying, the gold coin has its own significance in the Indian culture.
  • The Gold Coins of different designs engraved and weight shall be available for online purchase on the Company’s web portal w.e.f. December 10, 2021 and safe hand over to the prospective customers on pan India basis.
Bhushan Kumar Narula, Orosil’s Managing Director commented: “Gold is fungible, with a low spread between the prices to buy and sell and has been used as money for many reasons. It is often hailed as a hedge against inflation. A medium of exchange needs to be portable, which gold certainly is, as it has a high value-to-weight ratio, compared to other commodities. Gold can be re-coined, divided into smaller units, or re-melted into larger units such as gold bars, without destroying its metal value.

Oro-Coins shall be marketed under the Company’s “Sincere” brand name and is expected to contribute in the revenue considerably, in view of the ongoing wedding season in the Country. We hope that this segment goes a long way towards generating more goodwill for our brand and products, leave a lasting, positive impression in the minds of the all generations.

Law, generally, does not have any restrictions for payment of cash for transaction of purchase/ sale of jewellery or immovable property etc. However, as per the article published by Times of India on 09" January, 202] regarding clarification as given by Department of Revenue, Ministry of Finance that any purchase of gold, silver, jewellery, or precious gems & stones below €2,00,000 doesn’t require PAN or Aadhaar of a customer as mandatory KYC documents.

As a welcome gesture to its newly launched segment, Orosil is offering an extra discount of 1% to its customers who are willing to purchase the coins on cash basis. Also, it is offering attractive discount on bulk order.” he announced.

On Sensex, at around 9:56 AM, Orosil Smiths India was trading at Rs4.35 apiece up by Rs0.2 or 4.82%.

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