India Inc joins the great Indian gold rush

The age-old obsession the common Indian folk has for the yellow metal is well documented, but even the country's companies seem to be going for gold - literally.

While holding data of physical gold by corporate investors is not in public domain, they clearly hold a lion's share of paper gold traded on the exchanges.

According to the latest figures provided by Association of Mutual Funds in India (AMFI), at Rs 4,176 crore, companies account for a little over half of total assets under management in gold exchange traded funds (ETFs).

This is nearly three times their gold ETF holding in March.

Text: Business Standard