Experts Financial News

Market expert Neeraj Dewan has a target of Rs 975 for DLF for one year and says it is a stock for portfolio. One can rides it for a longer term also. BCL can be a high-risk rocket. With the margin improvement and the quality of business improving, Dewan’s one-year target for BCL is Rs 80 and he thinks in the next two-three years, BCL may continue to improve as far as the top-line and the bottom-line is concerned because of value addition. Textile stock Siyaram Silk Mills Limited is a great value bomb. It is available at a very reasonable valuation. Dewan has a target of Rs 525 for one year for the stock.

Intel on Thursday posted the biggest quarterly loss in its 56-year history, as the onetime highflying chipmaker struggles to turn itself around. The Silicon Valley company said its loss for the third quarter totaled $16.6 billion, a result of $15.9 billion in charges to reflect lowered valuations of company assets and a $2.8 billion restructuring charge associated with cutting more than 15,000 workers. Pat Gelsinger, Intel's CEO, had ordered the restructuring in August in response to shrinking profit margins caused by the costs of catching rivals in manufacturing technology and little success in the booming market for artificial intelligence chips, among other factors.

Sunni lawmaker Mahmoud al-Mashhadani as its speaker, lawmakers said, breaking a nearly year-long deadlock over the position that had remained vacant due to protracted disagreements among political factions. The stalemate followed a decision by the Federal Supreme Court last November which upended the career of former speaker Mohammed al-Halbousi, Iraq's most powerful Sunni Muslim politician and set the stage for a fight over succession. Mashhadani, who previously served as parliament speaker from 2006 to 2008, was elected to the post again with significant support from the coalition that includes influential Shi'ite parties and Iran-aligned groups along with the State of Law coalition, which is led by former Prime Minister Nuri al-Maliki.

Apple's AI-enhanced iPhone made a strong start, pushing quarterly sales ahead of Wall Street expectations, but a modest revenue forecast raised questions about whether that momentum will hold over the holiday sales season. A decline in China sales during the fourth quarter also concerned some analysts and investors, helping send shares down 1.4% in after-hours trade, despite surprisingly large overall profit and revenue in that period. Chief Financial Officer Luca Maestri told analysts during a conference call that Apple expects overall revenue to «grow low to mid single digits» during its fiscal first quarter, which ends in December. Analysts had expected revenue growth of 6.65% to $127.53 billion during the quarter, according to LSEG data.

Donald Trump sued CBS on Thursday over an interview of his Democratic rival Kamala Harris aired on its «60 Minutes» news program in early October that the lawsuit alleged was misleading, according to a court filing. The complaint, filed in federal court in the Northern District of Texas, alleges the network aired two different responses from Harris responding to a question about the war between Israel and Hamas in Gaza. The version that aired during the «60 Minutes» program on Oct. 6 did not include what the lawsuit calls a «word salad» response from Harris about the Biden administration's influence on Israel's conduct of the war.

e-commerce giants Google, Meta, Amazon, and Flipkart collectively generated over Rs 60,000 crore in advertising revenue in FY24, a 9% increase from Rs 55,053 crore in FY23, according to Registrar of Companies (RoC) filings. For the first time, the Indian arms of Google and Meta surpassed Rs 50,000 crore in combined gross revenue. The marketplace arms of Flipkart and Amazon garnered over Rs 10,000 crore in cumulative ad revenue, with Flipkart Internet alone raking in close to Rs 5,000 crore. Amazon Seller Services, which generated Rs 5,380 crore in ad revenue in FY23, has yet to publish its annual report. However, sources indicate that the company is likely to report strong ad revenue earnings in line with industry trends.

European Commission has approved the creation of a joint venture, Star India, by Reliance Industries Ltd (RIL), The Walt Disney Co. (TWDC), and BTS Investment 1, the latter owned by James Murdoch and Uday Shankar. The commission concluded that the transaction would not raise competition concerns, given the joint venture's negligible activities within the European Economic Area and the limited combined market share of the involved companies. The merger between RIL's Viacom18 and Disney's Star India is expected to conclude in early November, following approvals from the Competition Commission of India, the National Company Law Tribunal and the Ministry of Information and Broadcasting. A senior official had earlier told ET that some international clearances were awaited.

software companies and continued selling by foreign institutions led to Indian stock markets ending lower Thursday, the last day of the traditional Hindu year of Samvat. The BSE Sensex fell 553 points, or 0.69%, to close at 79,389, while the National Stock Exchange’s Nifty50 declined 135.5 points, or 0.56%, to 24,205.35. The Nifty50 fell more than 6% in October — the sharpest drop in a month for four-and-a-half years — as weaker-than-estimated earnings by companies in the quarter ended September 30 raised questions about the pace of the recent run-up in the market.

It’s no surprise that workers feel burned-out

Chief Minister N. Biren Singh on Thursday said that his government had already earmarked an amount of Rs 3 crore for the construction of a memorial for Major Ralengnao Bob Khathing who laid claim to Tawang as an integral part of India Defence Minister Rajnath Singh virtually dedicated to the nation ‘Desh ka Vallabh’ statue of Sardar Vallabhbhai Patel, and Major Ralengnao ‘Bob’ Khathing ‘Museum of Valour’ at Tawang in Arunachal Pradesh on Thursday. Singh carried out the inauguration from 4 Corps Headquarters in Assam’s Tezpur as he could not visit Tawang due to bad weather.

«At present, we have not found any foul play (in the death of elephants). I have visited so many nearby areas. I am not seeing any foul play as of now. But let us see what (autopsy and forensic) reports say,» he said. «A five-member team of the Wildlife Crime Control Bureau from Delhi is in the reserve. The National Tiger Conservation Authority's Nagpur-based regional officer, assistant inspector general of forests Nandkishore Kale, was camping here to get first-hand feel of the situation,» Ambade said.

Ajit Pawar, of the NCP, met his counterpart and senior BJP leader Devendra Fadnavis at the latter's residence in south Mumbai to discuss withdrawal of nominations. Pawar later met independent candidate Nana Kate from Chinchwad assembly seat in Pune district to prevail upon him to opt out of the poll fray. Kate, however, remained adamant about contesting. The Nationalist Congress Party, the BJP and Chief Minister Eknath Shinde's Shiv Sena comprise the ruling alliance, also called the Mahayuti. Fadnavis, on his part, held meetings with party colleagues and also contacted some rebels. CM Shinde held a meeting with his colleagues at his residence in Thane to discuss the possible impact of rebels on the results and the way forward.

Amazon.com has asked a U.S. judge to throw out a multibillion-dollar consumer lawsuit that claims the tech company's cloud-based voice service Alexa illegally collected and recorded private conversations without consent. Amazon said in a federal court filing on Wednesday in Seattle that the consumers had failed after years of litigation to show it engaged in unfair or deceptive practices. Amazon asked U.S. District Judge Robert Lasnik to rule for the company on the merits of the plaintiffs' claims, which would end the case before a trial.

Kerala government on Thursday announced the 2024 Kerala Awards, the highest civilian awards instituted by the state government on the model of the Padma Awards, whose eight recipients include eminent writer M K Sanoo, ISRO chairman S Somanath and cricketer Sanju Samson. Established in 2021, the awards are categorised into three groups — Kerala Jyothi, Kerala Prabha, and Kerala Shree — and announced every year in the wake of 'Keralappiravi', the state's formation day that falls on November 1. Sanoo will receive the Kerala Jyothi for his contributions to literature, while Somanath and Bhuvaneshwari will be honored with the Kerala Prabha for their accomplishments in the fields of Science and Engineering and Agriculture, respectively, according to a state government release. The Kerala Sree, awarded to five individuals, will go to Kalamandalam Vimala Menon (Art), Dr. T K Jayakumar (Health), Narayana Bhattathiri (Calligraphy), Sanju Samson (Sports), and Shaija Baby (Social Service, Asha Worker) and V K Mathews (Industry-Commerce), according to the release.

Lending to the services sector slowed to 15.2 percent year-on-year (y-o-y) in September 2024 from 21.6 percent a year ago, primarily due to lower growth in credit to ‘non-banking financial companies’, the RBI said. Retail loan growth moderated to 16.4 percent (y-o-y) in September 2024 as compared with 18.2 percent a year ago, largely due to decline in growth in ‘other personal loans’, ‘vehicle loans’ and ‘credit card outstanding, the central bank said. However, ‘housing’ – the largest constituent of this segment – recorded accelerated growth.

inflation gauge closely watched by the Federal Reserve has dropped to near pre-pandemic levels. The Commerce Department reported that prices rose just 2.1% in September from a year earlier, down from a 2.3% rise in August. That is barely above the Fed's 2% inflation target and in line with readings in 2018, well before prices began surging after the pandemic recession. Yet some signs of inflation pressures remained. Excluding volatile food and energy costs, so-called core prices rose 2.7% in September from a year earlier for the third straight month. On a monthly basis, core prices rose 0.3% from August to September, up from just 0.1% from July to August. The increase in the core rate is higher than the Fed would prefer.

Bandra East was a Shiv Sena stronghold until the last Maharashtra assembly elections, but with a triangular contest this time, the outcome in this suburban Mumbai seat has become more unpredictable. Zeeshan Siddique, then with Congress, won from the constituency in 2019, defeating the undivided Shiv Sena's Vishwanath Mahadeshwar, a former mayor. Zeeshan might have an edge due to the sympathy factor in the aftermath of his father, NCP leader and former Congress minister Baba Siddique's murder earlier this month. But locals also say that his decision to join the Ajit Pawar-led Nationalist Congress Party, an ally of the BJP, could go against him as the constituency has a sizable Muslim population. The Ajit Pawar-led NCP is part of the ruling BJP-Shiv Sena-NCP 'Mahayuti' alliance.

gross bookings below Wall Street estimates, sending its shares down nearly 8%. Bookings growth, a key measure of ridership for online taxi operators, slowed to a more than one-year low in the third quarter and fell short of analysts' forecasts.

Russian military. The announcement was made by US Treasury and State Departments in what they described as «third-country enablers”. However, there is no independent verification if these Indian firms were part of efforts to boost Russian military apparatus. “…The U.S. Department of the Treasury sanctioned 275 individuals and entities involved in supplying Russia with advanced technology and equipment that it desperately needs to support its war machine. Today’s action targets both individual actors and sprawling sanctions evasion networks across 17 jurisdictions, including India, the People’s Republic of China (PRC), Switzerland, Thailand, and Türkiye,” according to the announcement.

Centrum Group is likely to finalise the sale of its housing finance subsidiary by the end of this fiscal, with the odds evenly distributed between the possibility of a 100% sale and part monetisation. The group is in talks with five-six investors and the discussions have now boiled down to the valuation of the company, people aware of the matter said. According to market sources, Centrum is looking for a valuation of around Rs 1,300 crore for the housing finance subsidiary, which is a little below the current market cap of Centrum Capital, the operating holding company of the group.

Mallikarjuna Kharge on Thursday disapproved of comments by Karnataka’s Congress leaders over statements that could create doubts over the government’s commitment to guarantee programmes. His comments at the party office in Bengaluru came in response to Dy CM DK Shivakumar’s statements suggesting a review of the scheme Shakti that provides for free bus travel for women all over the state. The AICC president issued a mild caution to leaders about the potential damage such statements could cause. Kharge publicly rebuked the idea and said any such talk would sow the seeds of doubts in people. He asked the CM to stick the promises made in the budget, while seeking to put any more discussion on the subject at rest.