Target Financial News

Telangana government is obligated to repay over Rs 2.67 lakh crore loans borrowed from the market, both principal and interest by FY33, even as the Gross State Domestic Product (at current prices) grew at an average growth rate of 15.09 per cent from Rs 8.60 lakh crore in 2018-19 to Rs 13.13 lakh crore in 2022-23, said CAG report on Friday. According to the report (for 2022-23) by Comptroller and Auditor General (CAG) which was placed in the state legislature, besides market borrowings, the state government will also have a liability to repay Rs 19,210 crore as principal in the next nine years in respect of borrowings taken from some financial institutions such as National Small Saving Fund and LIC. «As can be seen from the above table, the state government will have to repay Rs 2,67,018 crore as principal and interest on the market borrowings in the next ten years by 2032-33,» the auditor said.

While evaluating Dixon Technologies recently, I realised that even the slightest slowdown in growth could deliver a huge blow to the stock’s valuation. A price-to-earnings ratio of 200 means that if you were to buy 100% of the company's shares, it would take 200 years for you to earn back your initial investment through its profits. Dixon is not the only Indian stock that’s soaked in excess liquidity in recent months.

The 2024 Budget has reshaped the investment landscape, making exchange-traded funds (ETFs) significantly more attractive compared to funds of funds (FoFs). With changes in tax treatments for gold, silver, and overseas investments, ETFs now offer a compelling advantage due to their shorter holding periods and trading flexibility.

FMCG major ITC surged by a little over 1% on Friday to the day’s high of Rs 499.35 on BSE after the firm’s first-quarter net profit was reported at Rs 4,917.45 crore, which was a marginal uptick from a year ago’s net profit of Rs 4,902.74 crore. The profit after tax was below Street's estimates of Rs 5,122 crore.

Amazon.com reported slowing online sales growth in the second quarter and said cautious consumers were seeking out cheaper options for purchases, sending shares down nearly 8%. The after-hours stock drop came despite second-quarter profit and cloud computing sales that beat analyst estimates. Amazon shares had gained over 20% this year through the session close on Thursday, and investors were disappointed that the company forecast current-quarter sales below Wall Street estimates.

Breakout stocks to buy or sell: The Indian stock market extended the bull trend for the fifth straight session on Thursday. The Nifty 50 index decisively conquered the psychological 25,000 peak. The 50-stock index took just 24 sessions to scale the last 1,000 points.

Stipulate that Federal Reserve Chairman Jerome Powell isn’t trying to throw the Fed behind one candidate or another in November’s presidential election. There’s still political danger for Mr. Powell and the central bank lurking in the September interest-rate cut Fed officials are priming investors to expect.

government employee in the failed attempt to assassinate an American citizen on US soil last summer, an official said. «We continue to expect accountability from the government of India in relation to the alleged role of an Indian government employee in the failed attempt to assassinate a US citizen on US soil that occurred last summer,» State Department Deputy Spokesperson Vedant Patel told reporters at his daily news conference. «We continue to raise our concerns directly with the Indian government at senior levels,» he said. Patel, however, declined to comment on a news report alleging that Canadian authorities claim to have arrested five Indian nationals planning to target a Sikh separatist at a wedding ceremony.

Venu Sports — the sports streaming platform planned by ESPN, Fox and Warner Bros

The Czech Republic’s central bank has cut its key interest rate for the sixth time in a row as inflation falls and the economy recovers more slowly than expected

The Bank of England is cutting interest rates for the first time since the onset of the COVID-19 pandemic in early 2020

Deutsche Bank and Royal Bank of Canada are preparing a US$4.5 billion debt package to help fund TowerBrook Capital and Clayton Dubilier & Rice’s planned purchase of R1 RCM Inc., according to people familiar with the matter.

UK Prime Minister Keir Starmer warned social media companies Thursday they must uphold laws around spreading incendiary misinformation, following unrest blamed on the sharing of unverified details about the Southport knife attack. Addressing the nation from his Downing Street office and residence, Starmer pointed the finger at the role of the firms in two nights of violence after Monday's stabbing spree in the seaside town near Liverpool. «Let me also say to large social media companies and those who run them: violent disorder, clearly whipped up online, that is also a crime,» the UK leader said.

The Federal government’s move to rein in the entry of temporary residents to Canada could have more of an impact than we thought.

Federal Reserve on Wednesday hinting at the likelihood of interest rate cut in September. At 7:45 pm, the October MCX gold futures were trading at Rs 70,350, up by Rs 695 or 1%. It hit the day’s high of Rs 70,489.

Retail investors who were looking forward to investing in Bill Ackman’s proposed US closed-end fund have been disappointed as the founder and CEO of Pershing Square withdraws from his planned IPO.

In a statement published on X, formerly Twitter, on Wednesday (31 July), the chief executive of Pershing Square said the firm had withdrawn the initial public offering — just days before it was due to begin trading on the New York Stock Exchange.  Ackman had already scaled back the IPO plans, dropping the fund's fundraising target from $25bn to $2bn after a crucial investor pulled its backing. Pershing Square Holdings manager slashes performance fee as Ackman eyes US launch «Over the last seven weeks, we have met with many institutions and family offices, and held numerous town...

Despite its stance that «recent indicators suggest that economic activity has continued to expand at a solid pace», the committee said on Wednesday (31 July) that «the committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%».  This move comes just a few weeks after data released by the Bureau of Labor Statistics revealed that the annual rate of US inflation had fallen to 3% in June, surpassing many economists' expectations by 0.1%.  Last week, though, core PCE inflation returned a...

tax evasion related to work down by their overseas offices, a government source said on Thursday, a day after Infosys was slapped with a $4 billion tax demand. In serving its highest-ever tax demand on Infosys, the government accused India's second-largest tech services company of evading taxes and sought Rs 32,000 crore ($3.8 billion), or almost all its revenue for the quarter ended June 30. Infosys said late on Wednesday it had received «pre-show cause» notices from the tax authorities but believed the relevant taxes had been paid. The company said in a statement it had paid its dues and is in compliance with central and state regulations.

Wednesday brought two important monetary-policy meetings, and the more important one probably wasn’t the Federal Open Market Committee gathering in Washington (see nearby). The Bank of Japan announced significant new steps on its slow and not entirely steady path to monetary normalization in an effort to shore up the yen. The Japanese central bank raised its target short-term interest rate to 0.25% from 0.1%.

The revenue from operations, meanwhile, jumped 12% YoY to Rs 27,039 crore in the reporting quarter. The same stood at Rs 24,137 crore a year ago.