Business

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...

Advance tax collections from the corporate sector, other firms and individuals in the current fiscal stood at Rs 10.45 lakh crore on Sunday, up 14.6% from last year. In the same period last fiscal, these collections - a proxy for corporate profitability and the state of the economy - stood at Rs 9.11 lakh crore. The last instalment of advance tax payment for FY25 was due on March 15, 2025. Notably, the growth in advance tax collections in the fourth quarter (till March 16) decelerated to around 2.4% year-on-year from 16.8% in the third quarter. The growth in the first and second quarters was 27% and 20.6%, respectively. Data released by the Finance Ministry on Monday showed that the Centre's direct tax collections, even after refunds, rose 13.1% year-on-year to `21.3 lakh crore i...

New Delhi, Mar 17 According to real estate consultant Anarock, Sector 150 in Noida has seen a 128 per cent jump in home prices in the last three years, while rental values ​​have increased by 66 per cent. Gurugram's Sohna Road saw a 59 per cent increase in capital values, while rental values ​​rose 47 per cent. "An analysis of key micro-markets across top 7 cities shows that in key cities like Bengaluru, MMR, NCR and Hyderabad, average capital values ​​have increased more than rental values ​​between end of 2021 and end of 2024," said Anuj Puri, chairman, Anarock. On the other hand, areas in Pune, Kolkata and Chennai saw the opposite trend - rental values ​​increased more than capital values, he added. The average capital value in Sohna Road increased by 59 per cent to Rs 10,5...

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...