Business

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 make the products more attractive and indispensable or fuel the rise of AI-native competitors. During the quarter, Adobe announced it would charge about 50 c...

Shares of telecom operator Bharti Airtel rose 3 percent in the early session on March 12 after the firm announced a partnership with billionaire Elon Musk-led aerospace company SpaceX to introduce Starlink satellite internet services in India. In a joint statement released on March 11, the companies highlighted that the agreement is Starlink's first formal partnership in India. However, its implementation is dependent on SpaceX securing the necessary authorisations to operate Starlink services within the country. By integrating Starlink into its offerings—along with its existing partnership with Eutelsat OneWeb—Bharti Airtel will strengthen its ability to provide coverage across the country, especially in underserved areas. According to international brokerage JPMorgan, the Starl...

Shares of Sun Pharmaceutical Industries Ltd rose over 3 per cent on Tuesday, March 11, after ICICI Securities upgraded the stock's rating to 'Buy'. This adds to the continued positive investor sentiment driven by the acquisition of Nasdaq-listed Checkpoint Therapeutics for $355 million. As of 1:30 pm, Sun Pharma shares were trading at Rs 1,655.95 per share, up 2.76 per cent. ICICI Securities upgraded its rating on the stock to 'Buy' from 'Hold'. In this, it has set a target price of Rs 1,895 based on 31x FY27 estimated earnings per share (32x FY26 estimated earnings per share). The brokerage further mentioned that the stock has declined ~10 per cent in the last two months. Meanwhile, both Motilal Oswal and HDFC Securities have reiterated a 'buy' rating with a target price of Rs 1...

Aavas Financiers shares jumped nearly 9 per cent in morning trade on March 10 to hit an intraday high of Rs 1,845 per share. The stock was among the top gainers on the BSE Smallcap index. The gain came on the back of strong buying demand from investors. At 10.40 am, around 1.78 lakh shares of the company were actively traded. This is 12 times the stock's 10-day average trading volume. The Jaipur-based housing finance company has seen a strong surge in its share price in the past few months and is now hovering around its 52-week high of Rs 1,979 per share, reached on June 19 last year. Earlier in February, domestic brokerage Prabhudas Lilladher had retained its 'accumulate' rating on the stock with a target price of Rs 1,900 per share. Notably, this is around 3 per cent higher tha...

Hexaware Technologies shares rose 3 per cent to Rs 828 after the company announced a partnership with Major League Cricket (MLC) team San Francisco Unicorns. The collaboration will run until the 2026 season, including Hexaware branding on the team's helmets and caps as well as perimeter signage at matches. The IT services firm said the partnership is in line with its focus on community engagement and digital solutions in sports. The San Francisco Unicorns, who reached the final of the 2024 MLC Championship, are preparing for their third season in 2025, with matches scheduled to be played in the Bay Area, Texas and North Carolina. Welcoming Hexaware Technologies as an official partner, San Francisco Unicorns co-owner Anand Rajaraman said the company's focus on innovation and excel...