Target Financial News

Hindenburg controversy was over, the whistleblower who makes money by short-selling shares and bonds of its target companies has added a fresh twist to the unending saga by claiming that Sebi chief Madhabi Puri Buch and her husband had a stake in offshore entities linked to the Adani family. The allegations come one-and-a-half months after Sebi issued a show-cause notice to Hindenburg for violating Indian market regulations and profiting by taking short positions.

Reliance Industries Ltd, India's most valuable company, plans to commission its first solar giga-factory in the current fiscal as it pivots a green pathway to achieve net zero carbon emissions from operations by 2035. In its largest annual report, the firm said it is targeting to commission the first train of 20GW solar PV (photovoltaic) manufacturing by the end of 2024-25 fiscal (April 2024 to March 2025) and scale up to 20GW in a phased manner over 2026. The solar giga factory will include manufacturing of PV modules, cells, wafers and ingots, polysilicon, and glass at a single location. The modules convert sunlight into electricity. It is also targeting industrialising sodium-ion cell production at the MW level in 2025 and first 50 MWh a year lithium battery cells pilot in 2026.

Sebi's 7-point proposal is driven by the need to address emerging risks and challenges in the index derivatives market. By implementing these measures, the regulator aims to enhance retail investor protection by reducing complexity and risk, promote market stability by discouraging excessive speculation by retail investors and encouraging meaningful market participation and support market growth by promoting investor confidence and participation. Let’s have a look at how the proposed measures will impact the ecosystem:

Bangladesh Nationalist Party (BNP) leader and PM-in-waiting Tarique Rahman allegedly held meetings with Pakistani intelligence agency ISI in a Gulf nation where a plan was hatched to organise a campaign for ousting the Sheikh Hasina government, said people in the know. Rahman allegedly travelled to the Middle Eastern country a few months ago for meeting the ISI officials where the plot was hatched for launching the campaign and creating conditions in Bangladesh for ousting Hasina, ET has reliably learnt. ET had reported last week how the Pakistan Embassy in Dhaka allegedly played a role in instigating the move to hijack the student movement.

Israeli airstrike hit a school-turned-shelter in Gaza early Saturday, killing at least 80 people, Palestinian health authorities said, in one of the deadliest strikes in the 10-month-old war between Israel and Hamas. The Israeli military acknowledged it targeted the Tabeen school in central Gaza City, claiming it hit a Hamas command centre within the school. Hamas denied that. The United Nations said the latest strike was part of Israel's increasing attacks on Gaza's schools, which have been turned into shelters for people who have been forced to flee their homes by the war. Video from the scene showed walls blown out on the ground level of a large building. Concrete chunks and twisted metal lay atop the blood-soaked floor, along with clothing, toppled furniture and other debris. A blackened car with the windows blown out was covered in rubble.

Amit Shah on Saturday called on sugar mills to explore alternatives to sugarcane for ethanol production, pushing for a multidimensional approach to biofuel manufacturing. Speaking at an event organised by the National Federation of Cooperative Sugar Factories (NFCSF), Shah said: «The target set for ethanol blending of 20 per cent is 2030. We will achieve the target in 2025-26.» The minister highlighted that the government's ethanol blending programme has helped reduce the country's crude oil import bill and address environmental concerns. Shah emphasised the need for sugar mills to adopt a forward-looking approach, stating, «You need to be futuristic and look at opportunities and expand. ...ethanol can be made from multiple sources.»

residential plots in a new satellite township in Srinagar. The government-owned NBCC announced on Friday that it will develop the greenfield township across 406 acres with an investment of Rs 15,000 crore over the next five years. The township will be located at Rakh Gund Aksha, just 8 km from Lal Chowk, a TOI report stated. The Srinagar township project will include residential plots, luxury villas, apartment complexes, commercial office spaces, an indoor sports center, and a 200-room five-star resort with modern facilities. NBCC has signed a Memorandum of Understanding (MoU) with the Srinagar Development Authority to implement the project. NBCC chairman K P Mahadevaswamy stated, “We will prepare the detailed project and the target is to complete the project in five years.”

Ukraine army’s surprise charge into Russia this week was a stunning maneuver that caught the Kremlin’s forces off guard.The Kremlin declared a “federal-level” emergency in the Kursk region following the large-scale incursion and sent reinforcements there on Friday, four days after hundreds of Ukrainian troops poured across the border.Meanwhile, a Russian plane-launched missile slammed into a Ukrainian shopping mall in the middle of the day, killing at least 14 people and wounding 44 others, authorities said. It was the latest in an unrelenting barrage of strikes on civilian targets, which made July the deadliest month for civilians since October 2022, according to the U.N.

Mass Deportation Now!" declared the signs at the Republican National Convention, giving a full embrace to Donald Trump's pledge to expel millions of migrants in the largest deportation program in American history. Some Republicans aren't quite ready for that. Lauren B. Pena, a Republican activist from Texas, said that hearing Trump's calls for mass deportations, as well as terms like «illegals» and «invasion» thrown around at the convention, made her feel uncomfortable. Like some Republicans in Congress who have advanced balanced approaches to immigration, she hopes Trump is just blustering.

«Looking at the derivative data, major call writers are active around the 24,400 and 24,500 levels for Nifty. These levels could act as significant supply zones for any minor pullbacks. On the downside, 24,200 and 24,000 have substantial put-based concentration, potentially providing support around the 24,000 level for Nifty in the coming days,» says Rajesh Palviya, Axis Securities. Give us a technical take on the current activity in call and put options for the indices, Nifty and Nifty Bank. What levels should we expect going into next week? Additionally, do you think the correction we've seen over the week is just temporary, or could it be more long-lasting? Rajesh Palviya: This week’s volatility has seen Nifty slip below its 20-day moving average, and it has traded below this average throughout the week. Although Nifty has managed to defend the 50-day moving average, which is around the 24,000 level, this level is still protected. However, Bank Nifty has broken below its 50-day moving average on the daily chart and has not been able to recover above it throughout the week. Both indices have breached their near-term support areas, suggesting that the trend may remain slightly bearish for the next few days.

India can set up 5-6 massive zones for manufacturing, similar to the Gift City for financial services, as it moves towards its $1 trillion goods exports target, PwC India chairperson Sanjeev Krishan said. He spoke to ET on a PwC India report released Friday that said India's $1 trillion goods export target can be achieved one year in advance by fiscal 2029 with appropriate measures. The report, 'VIKSIT: An approach for India to achieve $1 trillion exports', offers a six-pillar framework for achieving the target.

Cisco will cut thousands of jobs in a second round of layoffs this year as the U.S. networking equipment maker shifts focus to higher-growth areas, including cybersecurity and AI, people familiar with the matter said. The number of people affected could be similar to or slightly higher than the 4,000 employees Cisco laid off in February, and will likely be announced as early as Wednesday with the company's fourth-quarter results, said the sources, who were not authorized to speak publicly. Reuters exclusively reported the job cut that San Jose, California-based Cisco announced in February, prior to the company announcing it.

central government was back on the path of fiscal consolidation in 2021-22, having «recovered ground» from the pandemic year, and its ability to sustain debt improved, the Comptroller and Auditor General (CAG) has said. In its report on the government's compliance in 2021-22 of the Fiscal Responsibility and Budget Management (FRBM) Act, the CAG has, however, flagged «deficiencies in disclosures» pertaining to sovereign guarantees provided to state-run firms to obtain loans, and its off-budget borrowings. The report was presented in Parliament on Thursday. «The government guarantees given to loans raised by the public sector entities was maintained within the target ceiling of 0.5% of the GDP for the year 2021-22. We noted deficiencies in disclosures in regard to guarantees,» the CAG said in the report. «Disclosure on extra budgetary resources (being a component of the central government debt) was found deficient in respect of completeness,» it added.

Ola's first foray into the electric bike segment. The new motorcycle will join the company's existing lineup of electric two-wheelers, including the S1X, S1 Air, and S1 Pro, which have already gained traction in the Indian market.Although specific details about the bike remain scarce, Ola Electric has been generating buzz by teasing various design aspects on social media.

Russia's Ministry for Emergencies on Friday declared the situation in the Kursk region a «federal level» emergency, four days after hundreds of Ukrainian troops poured over the border in what appeared to be Kyiv's biggest attack on Russian soil since the war began. Meanwhile, a Russian plane-launched missile hit a Ukrainian shopping mall late morning Friday, killing at least nine people and injuring 26, authorities said. The mall in Kostiantynivka, in the eastern Donetsk region, is located in the town's residential area. Thick black smoke rose above it after the strike. «This is another targeted attack on a crowded place, another act of terror by the Russians,» Donetsk regional head Vadym Filashkin said in a Telegram post.

Sundaram Home Finance has inaugurated its second branch in Pune as it aims to make disbursements of Rs 450 crore in Maharashtra this year, the company said on Friday. The wholly owned subsidiary of non-banking finance company Sundaram Finance Ltd achieved disbursements of over Rs 250 crore in the Western state last year. Sundaram Home Finance currently has six branches in Maharashtra and would offer home loans targeting the mid-segment of the market with an average ticket size of Rs 40 lakh. The company achieved disbursements of over Rs 100 crore in Pune last financial year. «Pune is turning into a vibrant home finance market and its proximity to Mumbai has led to fast paced growth in terms of infra development and the increasing presence of IT companies. This expansion in Pune follows the success of our first branch in the city,» company Managing Director D Lakshminarayanan said.

inflation is not yet under control, the RBI's latest assessment warns against a hasty return to monetary accommodation. The conviction that India is insulated from global economic slowdowns and in a growth acceleration phase has also diminished. The RBI now anticipates downside risks to growth due to falling corporate profits and reduced government spending.

Eicher Motors jumped 5% in Friday's early trading session to its day’s high of Rs 4,820 after the company on Thursday reported a 20% year-on-year (YoY) rise in consolidated net profit at Rs 1,101.46 crore for the quarter ended June 2024. The two-wheeler manufacturer's total revenue from operations stood at Rs 4,393 crore for the reported quarter, higher by 10% versus Rs 3,986.37 crore posted in the corresponding quarter of the previous financial year. The revenue figures were also above Street estimates of Rs 4,268 crore.

The world is falling well short of a promise signed at global climate talks last year to triple the amount of wind power, according to research by an energy think tank released Thursday

Taylor Swift’s concerts in Austria. The planned assault, which was thwarted just in time, involved two teenagers who allegedly intended to detonate a bomb-filled car and unleash a wave of violence using knives and machetes on fans attending the sold-out shows, as per a Nee York Post report.

Palantir Technologies said on Thursday it will offer its products, including the Artificial Intelligence Platform (AIP) on Microsoft's cloud platforms, which cater to the U.S. government and federal agencies such as the Department of Defense. The data analytics company will deploy its products, including the «Gotham» software — which assists in locating targets on battlefields — on Microsoft's Azure Government and Azure Government Secret cloud platforms. Palantir will «be the first industry partner to deploy Microsoft Azure OpenAI Service in classified environments,» CTO Shyam Sankar said in a statement.