Dhanteras Bazaar in Ranchi: Business of around Rs 300 cr estimated, four wheelers and jewellery see rush of buyers

Ranchi: People of the capital indulged in Dhanteras shopping in full swing as a result of which this time the market is estimated to be close to Rs 300 crores. However, when compared to the previous year it was 10-15 percent less. In four wheeler segment, where this time the cars could not be supplied according to the demand whereas in two wheelers the crowd of customers was less than expected.

On the other hand, except for some segments of the electronic market, average sales was seen in most of the segments. At the same time, the brightness of gold is more than last time. According to the bullion traders, this time
a jump of about 20 percent has been registered in the sale of gold.

Jewellery traders were satisfied with the business of this time as it is expected that this time the sales figure can reach beyond Rs 80 crores. Tanishq’s area manager Abhishek Singh said that after Covid, a large number of people are investing in bullion. Bullion traders said that this time there was a lot of demand for gold and silver coins.

Further this time there has been a jump of 20 percent in diamond jewellery. Apart from this people are also buying a lot of wedding jewelry. A shop owner said that one of the biggest reasons people invest in gold is also that the returns are good. After becoming stable, it is expected to perform even better. Apart from this, the rate is still according to the people.

A Maruti showroom owner in Ranchi said that this time too there was a lot of demand for four wheelers. He said that on the occasion of Dhanteras, about 1200 vehicles had been booked from his showroom but due to the shortage of semi-conductors there has been a slight decrease in the supply due to the trouble in the industry. Hyundai’s showroom proprietor said that he had a demand for 175 vehicles. But they were able to deliver only 80-90 vehicles. In the automobile sector where there was a lot of demand for four wheelers on the other hand there has been a decline in the business of two wheelers. Two wheelers sales have declined by 20- 25 percent this time making it the worst performance ever. This decrease has been registered in almost all segments of two wheelers.

Apart from utensils, this time home appliances also sold well. Samsung Area Manager sais that this time the demand for fridge, washing machine was better than expected. Suddenly the market has boomed. Owner of Bharat Electronics said that there has been a jump in sales in the last 3-4 days. This time around 15-20 percent growth has been registered as compared to last year. However, there has been a decline in the sales of TVs and microwave ovens.

The market of utensils was also good this time as around. The shopkeeper behind the main road Kali Mandir told that the market has been better than what was expected after Covid. Apart from the utensils needed for steel, this time also there was a lot of demand for brass utensils in the market. This time brass utensils were sold for Rs 900-1100 per kg. Property registry was also done on the auspicious time of Dhanteras. According to information received from Ranchi Registry Office, about 150 properties have been registered on the occasion.