Business Daily from THE HINDU group of publications
Thursday, Apr 19, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Apr 19, 2007 ePaper |
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Marketing
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Strategy Variety - Events States - Andhra Pradesh MMTC moves to cash in on Akshaya Tritiya Our Bureau
Hyderabad April 18 In tune with the aggressive sales pitch of jewellers to cash in on `Akshaya Tritiya,' MMTC has joined the race to get a share of the market in Andhra Pradesh. For the first time, MMTC, the country's leading trading house for precious and non-ferrous metals, has opened 10 special centres in Hyderabad alone to offer 99.9 per cent pure gold and silver medallions and all kinds of articles. An exhibition to promote the precious metals has been organised to coincide with Akshaya Tritiya, which has been staggered over two days, April 19-20, according to Mr J. Kishan, General Manager of the State Office. Based on the increasing popularity of sentiments of believers that buying/gifting of gold and silver on the auspicious date is desirable, almost all jewellers and several banks have unleashed promotional campaigns and attractive pricing packages in Hyderabad and Secunderabad. MMTC, which imported 24 tonnes of gold during 2006-07 in Andhra Pradesh, is also the market leader with over 30 per cent share. It offers gold and silver coins in 2, 5, 8, 10 and 50 g weight and 20 and 100 g bars, Mr Kishan told Business Line. He added that MMTC was also the largest supplier of precious metal gifts to corporates in the State. It has supplied gold medallions and other articles to State Bank of Hyderabad (SBH), NMDC, AP State Finance Corporation, State Housing Board and NTPC during the year, he added.
More Stories on : Strategy | Events | Gold & Silver | Andhra Pradesh
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