Tag: Finance

Business

Apple Hits $4 Trillion Market Value as Strong iPhone Sales Offset AI Concerns

Tanisha Cardozo

Apple has officially surpassed a $4 trillion market value, becoming the third Big Tech company in history to achieve this milestone, after Nvidia and Microsoft. The milestone comes amid robust demand for its iPhone 17 lineup and the iPhone Air, which have helped lift shares about 13% since their launch on September 9, marking Apple’s first positive performance for the year.

The iPhone remains a critical revenue driver, accounting for more than half of Apple’s profit. Analysts say the iPhone Air’s slim design positions Apple to compete effectively against rivals like Samsung Electronics, while early sales of the iPhone 17 have outperformed its predecessor by 14% in key markets such as the U.S. and China, according to research firm Counterpoint. Brokerage Evercore ISI expects the strong demand to exceed market expectations for the quarter ending September, with upbeat forecasts anticipated for the December quarter.

Apple shares had faced headwinds earlier in the year due to stiff competition in China and uncertainties related to high U.S. tariffs affecting its major manufacturing hubs in Asia. While Apple has taken a cautious approach to artificial intelligence, including delayed upgrades to Siri and a slower rollout of the Apple Intelligence suite, reports indicate ongoing collaborations with Alphabet’s Gemini AI, Anthropic, and OpenAI.

Chris Zaccarelli, chief investment officer of Northlight Asset Management, noted, “The lack of a well-understood AI strategy is one of the overhangs for the stock. If Apple can incorporate AI in a way that excites consumers, it would transform the company.”

Apple reported its strongest quarterly results in years during April-June, achieving double-digit growth across key segments and surpassing analyst expectations. Its shares currently trade at 33.2 times projected earnings for the next 12 months, compared to 27.42 for the Nasdaq 100, reflecting the company’s strong valuation. Apple is expected to announce its Q4 results on October 30, which could further impact investor sentiment.

Despite underperforming the Nasdaq 100 this year, Apple’s milestone highlights the enduring appeal of its ecosystem, driven largely by iPhone sales and global brand loyalty.

Finance

Calcutta Stock Exchange Prepares for Final Exit After 117 Years

Tanisha Cardozo

The end of an era is near for one of India’s oldest financial landmarks. The Calcutta Stock Exchange (CSE), established in 1908, is preparing to voluntarily exit its role as a stock exchange after years of operational dormancy and prolonged legal battles.

A century ago, CSE was a powerhouse of trade in the eastern region of India, standing toe-to-toe with the Bombay Stock Exchange. Its building on Lyons Range in Kolkata symbolized prosperity, enterprise, and financial ambition for decades. However, over time, the momentum slowed. After a massive settlement crisis tied to the Ketan Parekh scam in the early 2000s, CSE’s influence began to wane. Trading was officially suspended by SEBI in April 2013 due to regulatory non-compliance and failure to adopt modern trading frameworks.

In February 2025, the exchange submitted a formal application for voluntary exit to SEBI. The decision followed a shareholder vote held in April 2025, where the majority approved a transition plan that would see CSE shift from an exchange to a holding company. Its broking subsidiary, CSE Capital Markets Pvt Ltd (CCMPL), will continue operations through affiliations with the BSE and NSE.

SEBI has appointed Rajvanshi & Associates as the valuation agency to oversee the financial assessment of the exchange, and the exchange has already offered a Voluntary Retirement Scheme (VRS) to employees. The move is expected to save ₹10 crore annually, with ₹20.95 crore allocated for staff exit packages.

Part of the transformation also involves the sale of CSE’s prized 3-acre property on EM Bypass to real estate group Srijan for ₹253 crore — another indicator of the exchange’s shift from traditional market functions to asset management.

The 2025 Diwali season is likely to be its last as a functioning entity — a poignant and symbolic farewell. Kolkata’s iconic financial monument, which has stood tall for 117 years, will cease to operate as a stock exchange, representing the larger story of how India’s capital markets have consolidated over the last two decades.

This voluntary exit is more than a regulatory process. It is the final chapter of a historic institution that once played a pivotal role in India’s financial growth — and a reflection of how regional exchanges have given way to national and global trading platforms in an increasingly digital, centralized world.

Human Interest

Dhanteras 2025 Sees ₹1 Lakh Crore Sales as Gold & Silver Demand Surges Despite Record Prices

Tanisha Cardozo

Indian consumers went on a festive shopping spree this Dhanteras, with total spending crossing ₹1 lakh crore, led by an overwhelming demand for gold and silver despite all-time high prices. According to data released by the Confederation of All India Traders (CAIT), ₹60,000 crore worth of gold and silver was sold — a 25% rise from last year’s Dhanteras.

Gold prices peaked at ₹1,32,000 per 10 grams, a record-high that slightly corrected in major markets like Delhi and Mumbai ahead of the big day. Despite the surge, the gold buying frenzy continued, although volumes dipped 10–15% compared to last year. However, the overall transaction value rose sharply, driven by strategic buyers focused on investment over weight.

Silver proved to be the star of Dhanteras 2025. With prices skyrocketing by nearly 55% year-on-year to ₹1,80,000 per kilogram, demand didn’t wane — in fact, it shifted. Industry data shows a 35–40% increase in silver coin sales, particularly from Tier 2 and Tier 3 cities, as buyers chose budget-conscious and ceremonial purchases over heavy gold investments. The All India Gem and Jewellery Domestic Council (GJC) described silver’s rise as a “smart, value-focused investment,” especially for gifting and puja purposes.

Pankaj Arora, National President of the All India Jewellers and Goldsmith Federation, noted an “unprecedented rush” across jewellery markets, particularly in Delhi, where gold and silver sales alone crossed ₹10,000 crore.

Beyond bullion, festive shopping remained upbeat across other segments. Utensils accounted for ₹15,000 crore in sales, while electronics and electrical items saw ₹10,000 crore in purchases. Decorative items and religious materials also contributed an additional ₹3,000 crore.

According to GJC Vice Chairman Avinash Gupta, “Average transaction value rose 20–25% despite volume dips. Most encouraging is the surge in silver coin sales in smaller towns — a reflection of value-seeking, resilient consumers.”

Dhanteras 2025 confirmed that Indian consumers remain deeply committed to tradition, and willing to adapt their buying strategy in response to market trends. Even with volatility in bullion prices, sentiment stayed strong — reaffirming gold and silver’s timeless status as both cultural and economic assets.

Finance

Axis Bank Launches India’s First Gold-Backed Credit Line on UPI via Freecharge

Tanisha Cardozo

Axis Bank, one of India’s largest private sector banks, has announced a groundbreaking new offering in collaboration with Freecharge: India’s first gold-backed credit line on the Unified Payments Interface (UPI). This pioneering product is set to redefine how secured credit is accessed in India, particularly for micro, small and medium enterprises (MSMEs), self-employed professionals, and merchants operating across urban and rural markets.

The offering enables users to avail instant credit against their gold holdings, transforming an age-old asset into a dynamic financial tool for modern digital use. The standout feature of the product is its integration with UPI, making both transactions and repayments simple, fast, and accessible from any UPI-enabled app, including Freecharge. Customers only pay interest on the utilized credit amount, ensuring a cost-effective way to manage cash flow, address urgent liquidity needs, or fuel business growth.

Existing Axis Bank customers with gold loan eligibility can avail this credit line through a completely digital journey, removing the need for physical branch visits after onboarding. The product is designed for seamless digital interaction—users can borrow and repay in real-time through UPI, with clear visibility into their credit line usage.

Speaking at the launch, Munish Sharda, Executive Director at Axis Bank, highlighted the innovation, stating that combining the trust of gold with the flexibility of UPI positions this product as a landmark in digital lending. It underlines Axis Bank’s commitment to expanding financial inclusion and pioneering secure credit solutions in the digital age.

This launch also aligns with the National Payments Corporation of India (NPCI)’s recent guidelines permitting credit lines on UPI, opening up new avenues for banks and fintech players to collaborate and deliver accessible credit. Sohini Rajola, Executive Director – Growth at NPCI, noted that the infrastructure now in place allows financial institutions to build simplified and secure digital credit products that are scalable across India.

With Axis Bank’s expertise in credit and its vast branch network, coupled with Freecharge’s fintech innovation and digital-first approach, this new offering brings together the best of traditional finance and modern technology. It provides an innovative, trusted, and user-friendly credit solution, significantly raising the standard for digital lending in the country.

This marks a significant step forward in India’s journey toward inclusive, technology-driven financial services, and opens new possibilities for individuals and businesses to unlock the value of their assets instantly, anytime, anywhere.

Finance

Axis Bank Launches ‘Dil Se Open Celebrations 2025’ with Exciting Season-Long Festive Offers

Tanisha Cardozo

Axis Bank, one of India’s leading private sector banks, has officially launched its flagship festive campaign, Dil Se Open Celebrations 2025. This nationwide, season-long initiative is designed to deliver maximum value, exclusive deals, and seamless joy to millions of customers across the country as they celebrate India’s rich and diverse festive season.

Starting from September 2025, and continuing throughout key Indian festivals including Navratri, Diwali, Christmas, and beyond, the campaign emphasizes Axis Bank’s customer-first philosophy. The campaign carries the theme “Sirf ek festival nahi, poore festive season chalega,” positioning Axis Bank as a trusted celebration partner—not just for a day, but through the entire season.

Customers can enjoy a variety of special offers across categories like shopping, electronics, travel, dining, and lifestyle, all through Axis Bank Credit Cards and select banking products. These include exciting EMI options on high-ticket purchases, cashback rewards, discounts, and exclusive partner collaborations with leading national and global brands.

In the shopping and e-commerce category, Axis Bank has partnered with Amazon, Flipkart, Haier, LG, Samsung, Sony, OnePlus, Motorola, Xiaomi, Blinkit, Bigbasket, and Instamart. The fashion and lifestyle segment features brands such as Jack&Jones, Vero Moda, ONLY, Selected, Shoppers Stop, Tira, and luxury names under Reliance Brands including Coach, Michael Kors, Mothercare, and Hamleys. In the travel segment, offers extend to Cathay Pacific, Cleartrip, ITC Hotels, ixigo, MakeMyTrip, and SriLankan Airlines.

Alongside credit card benefits, the campaign includes competitive offers on loans and liabilities. Home loans start at an attractive rate of 7.40% until September end, and personal loans are available from 9.99% with low processing fees. Special rates are being offered on two-wheeler EV loans, superbike loans, commercial vehicle and construction equipment loans, and car loans—with added benefits such as fee waivers and extended tenures. Locker registration charges are also waived for new bookings during the campaign period from 22nd September to 31st October 2025.

Arnika Dixit, President & Head – Cards, Payments and Wealth Management at Axis Bank, emphasized that this initiative reflects the bank’s goal to offer meaningful and rewarding customer experiences. She highlighted the bank’s focus on combining innovation with value through exclusive partnerships and offers.

Echoing this, Anoop Manohar, Chief Marketing Officer of Axis Bank, explained that the campaign was designed to mirror the cultural and emotional depth of India’s festive season. “This initiative goes beyond banking benefits; it is about being present in our customers’ lives during the most cherished time of the year,” he said.

With Dil Se Open Celebrations 2025, Axis Bank positions itself not just as a financial institution but as a holistic celebration partner for Indian households. The campaign aims to set new benchmarks in festive marketing and deepen customer trust through emotional connection and practical rewards.