Target Financial News

Federal Reserve Chair Jerome Powell bolstered the case for a rate cut in September, while cryptocurrenices gained on rising odds of former President Donald Trump getting reelected. Powell said on Monday the three U.S. inflation readings over the second quarter of this year «add somewhat to confidence» that the pace of price increases is returning to the Fed's target in a sustainable fashion.

Stocks that were in focus include names like Aurobindo Pharma, which soared 3.67%, Tanla Platforms, which gained 5.69%, and IDBI Bank, whose shares Jumped 6.79% on Monday.

The Economist visited, says that 90% of their generating capacity has been destroyed this year. Waves of attacks since March have targeted thermal and hydro plants as well as, for the first time, solar-energy installations. As Russia struggles to make any serious gains on the battlefield, power lines have become the new front line.

Adani Group expects its ports business to grow at a robust pace, with the Indian operations expected to double by volume in five years, said a senior company executive. Speaking to ET, Karan Adani, managing director of Adani Ports and SEZ (APSEZ) said the aim is to transform India's leading port operator into a global ports hub by boosting the share of international traffic. The ports business currently gets about 5% of its total volume from international operations, which it is aiming to double by 2030, said Adani. The ports business has been seeing exponential growth in the past few years, and Adani expects the trajectory to continue. «Currently, the split between our ports and logistics segment is 70:30, and we expect the same to continue because while our logistics segment is growing, so is our ports segment, and that too at a much faster pace,» he said. Revenue from the ports segment grew to Rs 20,972 crore in FY24, from Rs 17,304 crore in the previous year. On the other hand, revenue from the logistics segment grew to Rs 2,079 crore from Rs 1,744 crore in the same period.

An Israeli drone strike on a car near the Lebanon-Syria border HAS killed a prominent Syrian businessman who was sanctioned by the United States and had close ties to the government of Syria’s President Bashar Assad

Goldman Sachs Group Inc.’s trading unit powered a surge in earnings in the second quarter.

In its final results published today (15 July), GSF said it would target the payment of 7p for the year ending 31 March 2025, compared to 7.5p paid for the year ended 31 March 2024. Moving from roughly equal payments across all quarters, GSF's target dividend payments will now be weighted to the fourth quarter, with 1p paid per quarter for the first three quarters and 4p in the final quarter.  Gore Street Energy Storage reaffirms dividend target despite sector revenue headwinds The board said the dividend policy change was a «prudent» adjustment to reflect the maturing nature of th...

A suspected attack by Yemen’s Houthi rebels has targeted a ship in the Red Sea

MUMBAI : Medikabazaar’s founders Vivek Tiwari and Ketan Malkan may not be awarded the stock options due to them this year as a fallout of financial discrepancies that have surfaced in yet another instance of corporate misgovernance among Indian startups. The company’s board is contemplating cancelling the management stock options that were due to the founders at the end of June, expecting Medikabazaar to not meet its revenue and operational earnings targets for 2023-24, according to three people familiar with the deliberations.

India looks forward to being a prominent player in the global supply chain, Finance Minister Nirmala Sitharaman who will be presenting the Budget for record-seventh time, may have to look at introducing a host of measures to strengthen the manufacturing sector and an improvement in the delivery routes. “With the help of policies, India must increase its share in global manufacturing chains,” Finance Minister Sitharaman said recently, adding that India needs to have greater sophistication in product manufacturing, and the government needs to see how best this can be given policy support. «I also want to underline, much against the advice given by some economists who say India should no longer be looking at manufacturing or ramping up manufacturing, that the country must also increase, with the help of policies, its (manufacturing) share in the global value chains,» she said.

Apple's shares rose about 2% on Monday after Morgan Stanley raised its price target on the iPhone maker's shares and designated the stock as a «top pick,» citing the company's AI efforts as a boost to device sales. In what was seen as a move to catch up with Alphabet's Google and Microsoft-backed OpenAI, the iPad maker last month unveiled Apple Intelligence, luring customers to upgrade their devices to be able to use the new technology.

Against a backdrop of intensifying climate protests targeting Wall Street, the heavyweights of US finance are pushing back against what they characterize as a fundamentally flawed debate.

Sri Lanka will cut power prices by 22.5% from Tuesday, the utilities regulator said, as the Indian Ocean nation attempts to ease the cost of living for millions of people amid its worst financial crisis in decades. After the crisis shrank its economy 7.8% in 2022, Sri Lanka boosted power prices by 75% that September, and by another 66% the following February, to meet the terms of a $2.9-billion bailout from the International Monetary Fund (IMF). Industries would also see a cut of about 33% in power tariffs, the regulator added, with poorer users getting a reduction of about 2,000 rupees ($7) in their bills.

JM Financial has initiated coverage on hospital stocks Fortis Healthcare, Max Healthcare and GPT Healthcare, as it sees an upside potential of up to 48.5%. The domestic brokerage firm has buy rating on Fortis and GPT with a target price of Rs 595 and Rs 245 respectively, while it has a hold rating on Max Healthcare with a target price of Rs 840.

Phillip Capital has maintained a sell view on IREDA, raising the target price to Rs 130 from Rs 110, noting that the recent stock rally, driven mainly by passive flows rather than fundamental reasons, has already priced in the best value. The domestic brokerage firm stated that they believe in continuing growth of the company as IREDA is likely to see strong loan growth at a CAGR of 25% over FY24-26 on rising demand for renewable energy in the country. However, the earnings growth is not expected to match the loan growth due to pressure on margins.

workspace provider Incuspaze, has leased 115,000 sq ft in Bangalore’s Whitefield. “With our ongoing expansion in Bangalore and our plans for Chennai and Hyderabad, we are committed to providing tailored workspace solutions that support the diverse needs of our clients,” said said Sanjay Choudhary, founder and CEO of Incuspaze. Incuspaze is set to expand its portfolio in southern India, with ORR micro market in Bangalore and further entering key markets in Chennai and Hyderabad. As part of its growth plan, the company is targeting over 2 million square feet of workspace take-up over the next two years.

Avenue Supermarts Ltd. with a target price of Rs 5500. The current market price of Avenue Supermarts Ltd. is Rs 5070.05. Avenue Supermarts Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 321699.65 Crore) operating in Retail sector.

ACC Ltd. with a target price of Rs 3300. The current market price of ACC Ltd. is Rs 2707.4. ACC Ltd., incorporated in the year 1936, is a Large Cap company (having a market cap of Rs 50678.15 Crore) operating in Cement sector.

Kalyan Jewellers India Ltd. with a target price of Rs 570. The current market price of Kalyan Jewellers India Ltd. is Rs 501.75. Kalyan Jewellers India Ltd., incorporated in the year 2009, is a Small Cap company (having a market cap of Rs 51571.89 Crore) operating in Gems and Jewellery sector.

China and Russia's naval forces on Sunday kicked off a joint exercise at a military port in southern China on Sunday, official news agency Xinhua reported, days after NATO allies called Beijing a «decisive enabler» of the war in Ukraine. The Chinese defense ministry said in a brief statement forces from both sides recently patrolled the western and northern Pacific Ocean and that the operation had nothing to do with international and regional situations and didn't target any third party. The exercise, which began in Guangdong province on Sunday and is expected to last until mid-July, aimed to demonstrate the capabilities of the navies in addressing security threats and preserving peace and stability globally and regionally, state broadcaster CCTV reported Saturday, adding it would include anti-missile exercises, sea strikes and air defense.

Global banks are targeting shorter maturities in their purchases of India’s sovereign bonds, tapping improved liquidity amid limited supply, according to Bank of America Corp.’s head of India fixed income. Foreign banks bought nearly 600 billion rupees ($7.2 billion) in all maturities since the start of June even as state-run banks and mutual funds sold, according to Clearing Corp. of India data. CCIL doesn’t break down the data by maturity.