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IDBI Bank shares rise nearly 8% to nine-week high on privatisation hopes
22 Mar

IDBI Bank shares rise nearly 8% to nine-week high on privatisation hopes

Priyanka RoyBusiness, News
IDBI Bank shares rallied nearly 8 percent on March 21 with trading volumes double the 20-day average, pushing the stock to a nine-week high for the fifth consecutive session. According to DIPAM Secretary Arunish Chawla, the disinvestment process of IDBI Bank is still on and is expected to be finalised in the next three months. In an exclusive interview with Network18, Chawla informed that major hurdles, including data room issues, have been resolved and due diligence has been completed. The government and LIC together are in the process of selling 61% stake in IDBI Bank, with the Centre holding 30.48…
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Zee Entertainment shares rise 6% as CLSA sees stock price doubling in 12-24 months
21 Mar

Zee Entertainment shares rise 6% as CLSA sees stock price doubling in 12-24 months

Priyanka RoyBusiness, News
Shares of Zee Entertainment Enterprises Ltd (ZEEL) rose 6% on March 20 after brokerage firm CLSA sees stock price doubling in the next 12-24 months. The foreign brokerage believes advertising revenue-led growth could lead to a rerating of the stock, as it suggested a target price of Rs 170. Zee's EBITDA margin has grown 9 per cent from the bottom and even assuming 6 per cent year-on-year (YoY) advertising growth, Zee could post 22-23 per cent year-on-year (YoY) growth in EBITDA and profit after tax in FY26-27, CNBC-TV18 reported CLSA. On March 20, Zee Entertainment shares were trading 6% higher…
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Aluminium futures prices rise on fresh deals
20 Mar

Aluminium futures prices rise on fresh deals

Priyanka RoyBusiness, News
New Delhi, March 20: Aluminium prices on Thursday rose by 45 paise to Rs 262.10 per kg in the futures market due to fresh deals by speculators amid positive trend in the spot market. The price of aluminium contract for April delivery on the Multi Commodity Exchange rose by 45 paise or 0.17 per cent to Rs 262.10 per kg in a business of 1,375 lots. Analysts said fresh deals by traders amid demand from consumer industries supported aluminium prices in the futures market.
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Tata Motors vehicle prices to upgrade from April 2025 | See details
19 Mar

Tata Motors vehicle prices to upgrade from April 2025 | See details

Priyanka RoyBusiness, News
Tata announces price hike: Prices of Tata Motors passenger and commercial vehicles are set to rise from April 2025. According to the company, the price hike is necessary to mitigate the impact of rising input costs. The extent of the price hike will depend on the make, model and variant of the vehicle. Tata Motors commercial vehicle prices will also increase by up to 2%, effective April 1, 2025. The $44 billion company said in an exchange filing that it remains committed to providing cutting-edge mobility solutions despite rising production costs. The price hike is expected to particularly impact fleet…
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Centum Electronics shares jump 5%, company raises Rs 210 crore through QIP
18 Mar

Centum Electronics shares jump 5%, company raises Rs 210 crore through QIP

Priyanka RoyBusiness, News
Centum Electronics shares rose over 5 percent on March 17 and closed at Rs 1,350 per share. This development comes after the company announced that it has raised Rs 210 crore through its qualified institutional placement (QIP). Notably, Prashant Jain's 3P India Equity Fund acquired 3.52 percent stake (over 5.17 lakh equity shares) in the company by participating in the QIP. This took the firm's total stake in the company to 5.47 percent. The company announced that the QIP comprises 18.10 lakh shares at an issue price of Rs 1,160 per equity share. However, this is around Rs 60 lower…
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Singapore’s February exports rise 7.6% on year, below forecast
17 Mar

Singapore’s February exports rise 7.6% on year, below forecast

Priyanka RoyBusiness, News
SINGAPORE - Singapore's non-oil domestic exports rose 7.6% in February from the same month last year, government data showed on Monday, boosted by growth in sales of both electronics and non-electronics. The increase was against a Reuters poll forecast of an 8.7% rise and followed a 2.1% decline in January.The statement from Enterprise Singapore did not include details of the month-on-month seasonally adjusted change in exports. Shipments to the United States, Taiwan, South Korea, Malaysia and the European Union rose on a yearly basis in February, while exports to China, Hong Kong and Indonesia declined.
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Adobe shares decay 5% in extended trading on sluggish revenue outlook and focus on AI tools
13 Mar

Adobe shares decay 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…
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India’s silver ETF AUMs grow 266% to ₹13,500 crore in 2025
12 Mar

India’s silver ETF AUMs grow 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…
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Indusind Bank shares drop 20% as lender reports Rs 1,530 crore derivative portfolio mismatch
11 Mar

Indusind Bank shares drop 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…
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Electric vehicle sales rise 19% in February
10 Mar

Electric vehicle sales rise 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."…
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