Business

Battery makers Amara Raja and Exide Industries shares rose 5 and 4 per cent respectively on the 26th after the central government expanded the safe harbour limit to include lithium-ion batteries used in electric or hybrid electric vehicles as a 'core auto component', raising the limit to Rs 300 crore from the current Rs 200 crore. The move is expected to benefit battery manufacturers in reducing compliance risks, encouraging investments and strengthening India's electric vehicle (EV) ecosystem. Lithium-ion batteries are now classified as a 'core auto component' under the rule, which means companies importing them can now accept their declared transfer price without any stringent scrutiny. When companies trade across borders, they can buy and sell goods between their subsidiaries, an...

In today's session, Trent shares saw a notable surge, climbing 2.30% to Rs 5,173.45. This rise was accompanied by a significant increase in trading volumes, indicating strong investor interest and market activity. The stock's move has attracted attention as it is different from its average trading pattern. Increased trading volumes indicate increased market participation in Trent. Such a volume shock relative to the average of the last 20 trading days usually signals a potential change in investor sentiment or the emergence of new information that impacts the stock's outlook. Institutional investors may be taking positions, which may contribute to the increased activity. Trent is currently included in several major indices, indicating its importance in the Indian stock market. These...

Mumbai: Myntra has seen its home category emerge as one of its fastest-growing segments, with demand growing by 60 per cent year-on-year. The firm's ability to capitalise on the growing demand for premium, high-quality home products has worked. With home category purchases increasingly being driven by visual aesthetics, Myntra said it has launched a tech-based solution within Myntra Home, powered by generative AI, that helps customers discover products that suit their personal style, making their discovery-to-purchase journey seamless. Speaking on the growth of the platform's home category, Sharon Pais, Chief Business Officer, Myntra, said, "Built trust across premium customer segments, a large base of 70 million monthly active users and deep market reach have encouraged us to st...

In today's session, Punjab National Bank (PNB) witnessed a notable surge, with its shares gaining 2.26% to Rs 93.41. This surge was accompanied by a surge in trading volumes, indicating strong investor interest and market activity. The stock's performance is being closely monitored as it deviates from its average trading pattern. Financial Performance Overview Punjab National Bank's financial performance shows that both revenue and net profit have grown steadily in recent quarters. Key highlights include: Revenue: Increased steadily from Rs 27,851 crore in December 2023 to Rs 31,894 crore in December 2024. Net Profit: Increased significantly from Rs 2,252 crore in December 2023 to Rs 4,648 crore in December 2024. EPS: Increased from Rs 2.21 in December 2023 to Rs 4.18...

Shares of Ola Electric jumped 5.18 per cent to hit an all-time high of Rs 54.34. Despite this, the stock has declined 32.04 per cent so far this year and 59.34 per cent in the last six months. Ola Electric said the backlog of vehicles is being addressed quickly. Shares of electric vehicle (EV) company Ola Electric Mobility Ltd jumped 5 per cent in Friday trade after the company addressed concerns about misleading reports about its February 2025 sales. The Bhavish Aggarwal-led company clarified that its sales remained strong and the temporary backlog of vehicles in February was due to ongoing discussions with vendors handling vehicle registrations. The stock jumped 5.18 per cent and hit a high of Rs 54.34. Despite this, the stock has declined 32.04 per cent so far this year and 59...

Shares of Aditya Birla Capital Ltd rose as much as 4% on Thursday, March 20, hitting an intraday high of ₹177.40.The move comes after global brokerage firm Macquarie predicted that the stock would hit ₹260 levels, implying a potential upside of over 50% from Wednesday's closing levels.Macquarie currently assigns an 'outperform' rating to the stock.AB Capital's stock has declined 31% from its all-time high of ₹246.90 hit in June last year. Macquarie believes the stock's recent underperformance has provided a good 'buy' opportunity.The brokerage said AB Capital is one of its top picks and is on track to double in three years. What is the reason for the underperformance? AB Capital's assets under management (AUM) growth has declined from 40% at its peak to 20% currently. The main reaso...

One MobiKwik Systems shares rallied 20 percent and remained locked in the upper circuit of Rs 298 per share as the stock witnessed heavy trading volumes on March 18. This comes a day after the stock hit a new 52-week low of Rs 231 per share on March 17 after falling 15 percent. The stock witnessed trading volumes that were nearly 6 times its 10-day average. It has now broken its 5-day losing streak and erased all the losses recorded on the previous day. Notably, the stock had declined on the previous day after the expiry of the three-month lock-in period. The lock-in expiry unlocked 5 million shares, equivalent to 6 per cent of the company's outstanding equity. The total locked-in value of these shares is estimated to be $16 million. MobiKwik shares were listed on the NSE in D...