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13 Mar

Adobe shares plunge 5% in extended trading on sluggish revenue outlook and focus on AI tools

Priyanka RoyBusiness, News

Adobe Inc. gave a disappointing forecast for revenue growth in the current quarter despite a recent focus on monetizing its new generative artificial intelligence features. Sales in the period ending in May will be $5.77 billion to $5.82 billion, the company said in a statement Wednesday. Analysts, on average, projected $5.8 billion. Excluding certain items, profit will be $4.95 per share to $5 per share, while the average projection is $5. Adobe, a top maker of software for creative professionals, is incorporating its AI model, Firefly, into apps such as Photoshop and Premiere. Investors have debated whether generative AI will…

12 Mar

India’s silver ETF AUMs inflation 266% to ₹13,500 crore in 2025

Priyanka RoyBusiness, News

Silver exchange traded funds have seen a massive surge in assets under management in less than three years, crossing the ₹13,500 crore mark in January 2025. SEBI allowed asset management companies to launch silver ETFs in November 2021. Since then, silver ETFs have seen massive growth. In January 2022, AUMs were Rs 123 crore and by January 2023 they grew to Rs 1651 crore. Silver ETF AUMs have seen the fastest growth in 2024, growing from Rs 3705 crore in January 2024 to Rs 13,566 crore by January 2025 - a 266 percent increase. According to data from Zerodha Fund…

11 Mar

Indusind Bank shares downfall 20% as lender reports Rs 1,530 crore derivative portfolio mismatch

Priyanka RoyBusiness, News

Shares of Indusind Bank Ltd tumbled 20% on Tuesday after the bank discovered discrepancies in its derivatives portfolio during an internal review. The detailed review revealed that the bank's total assets are estimated to be adversely impacted by about 2.35% by December 2024, equivalent to a potential loss of Rs 1,530 crore. The bank's total assets stood at Rs 65,102 crore at the end of December 2024. Indusind Bank's total assets are estimated to decline by Rs 1,600 crore to Rs 2,000 crore. The Hinduja-promoted lender plans to absorb this loss in its fourth quarter earnings or the first quarter…

10 Mar

Electric vehicle sales inflation 19% in February

Priyanka RoyBusiness, News

New Delhi, Retail sales of electric passenger vehicles grew 19 per cent to 8,968 units in February, with Tata Motors topping the segment, according to data released by dealers' body FADA.Total electric passenger vehicle retail sales stood at 7,539 units in the same month last year.Tata Motors sold 3,825 units last month, while MG Motor India sold 3,270 units.FADA President CS Vigneshwar said in a statement, "Electric passenger vehicles recorded a good growth of 18.95 per cent year-on-year, reflecting growing consumer awareness and adoption of EVs in the personal mobility segment, now achieving a market share of 3 per cent."…

07 Mar

Castrol India shares jump 12% amid talks of Saudi Aramco bidding for BP’s lubricants assets

Priyanka RoyBusiness, News

Castrol India shares on March 6 recorded their biggest single-day rise in eight months amid talks of Saudi Aramco considering a possible offer for lubricants assets being sold by BP Plc.The world's largest energy company is studying whether to bid for part or all of the business that operates under the Castrol brand name, Bloomberg reported on March 5, citing sources.Aramco may consider combining the Castrol assets with its Valvoline lubricants unit, which it bought in a $2.65 billion deal scheduled to be completed in 2023, the report said. Aramco is particularly interested in Castrol's operations in fast-growing markets such…

06 Mar

Luxury housing prices inflation in Delhi, Mumbai, Bengaluru – Knight Frank

Priyanka RoyBusiness, News

New Delhi, March 5 Delhi has jumped to 18th spot among 100 cities globally in terms of annual price growth in the luxury housing segment last year, according to Knight Frank. Global property consultant Knight Frank's 'The Wealth Report 2025' showed that the Prime International Residential Index (PIRI 100) value is projected to rise 3.6 per cent in 2024. Of the 100 luxury residential markets tracked, 80 recorded positive or flat annual price growth. Among Indian cities, Delhi is ranked 18th, a significant jump due to a 6.7 per cent year-on-year (YoY) rise in luxury residential prices. Mumbai is ranked…

05 Mar

Silver futures surge: Prices increase by Rs 859 per kg

Priyanka RoyBusiness, News

New Delhi, March 5 Silver prices rose by Rs 859 to Rs 97,115 per kg on Wednesday as participants increased their bets. At the Multi Commodity Exchange, silver contracts for March delivery rose by Rs 859, or 0.89 per cent, to Rs 97,115 per kg in a business turnover of 19,331 lots. Analysts said fresh deals by participants led to the rise in silver prices. Globally, silver was trading 0.62 per cent higher at $32.17 per ounce in New York.

04 Mar

IEX trade volumes inflation 9% in February | Indian Energy Exchange

Priyanka RoyBusiness, News

The Indian Energy Exchange (IEX) said in a statement on Monday that trade volumes in February registered a 9 per cent growth to 9,622 million units as compared to the same period last year. A total of 16.37 lakh renewable energy certificates were traded during the month, marking a 167 per cent year-on-year (y-o-y) growth. The next REC trading sessions at the exchange are scheduled for March 12 and 26. In the power market, the Day-Ahead Market (DAM) achieved 5,369 MU volumes in February as against 4,722 MU volumes in the same month last year, a 14 per cent growth…

03 Mar

Mahindra sales gain 15% in February

Priyanka RoyBusiness, News

Mahindra & Mahindra on Saturday said its total sales in February rose 15 per cent year-on-year to 83,702 units.The automaker had sold 72,923 units in February last year.In the utility vehicle segment, the company said it sold 50,420 vehicles in the domestic market, a growth of 19 per cent as compared to 42,401 units in February last year.Exports grew to 3,061 units last month, up 99 per cent from 1,539 units in February 2024. "This strong performance is a result of the continued positive momentum for our SUV portfolio," Mahindra & Mahindra (M&M) Automotive Division President Veejay Nakra said in…

01 Mar

Vodafone Idea gets GST demand order; stock lapse over 3%, check full details

Priyanka RoyBusiness, News

Telecom operator Vodafone Idea (VIL) on Friday, February 28, said it has received a ₹16.73 crore Goods and Services Tax (GST) demand order from the Deputy Commissioner, Large Taxpayer Unit, West Bengal. The telco asserted it does not agree with the order and will take appropriate action for filing an appeal against the same. In a BSE filing on details of the order received by the company under the Central Goods and Services Tax Act, 2017, Vodafone Idea informed that the order was received on February 27, 2025. “Order passed under Section 73 of the Central Goods and Services Tax…