Target Financial News

JM Financial initiated coverage on small cap stock Shivalik Bimetal Controls (SBCL) with a target price of Rs 730 as they believe that the company is a niche player in the market and may be geared up to capture manufacturing opportunities. SBCL is predominantly a bimetal / electrical contacts manufacturer but ventured into the shunt resistor business from 2014-15. It has gained significant dominance in the domestic market and is now ready to further expand the export opportunity with capex already done and capacity in place.

Pakistan captain Inzamam ul Haq raised bizarre allegations of ball-tampering against Indian pacer Arshdeep Singh, who delivered a match-winning performance of 3/37 during the ICC T20 World Cup Super Eights clash against Australia, questioning how was he able to reverse-swing the ball in the 16th over while defending the target. During the ongoing T20 WC, Arshdeep is the joint-highest wicket-taker in the tournament with 15 scalps in six games at an average of 11.86 and an economy rate of 7.41. His best figures are 4/9 and he is tied for most wickets in the competition with Afghanistan's Fazalhaq Farooqi. During a talk show on a Pakistan news channel, the clips of which have went viral on social media, Inzamam said, «Arshdeep Singh, when he was bowling the 15th (16th) over, the ball was reversing. is it too early (for reverse swing) with a relatively new ball? This means the ball was ready for reverse swing by the 12th or the 13th over, Umpires should keep their eyes open (to spot) these things,» said Inzamam during a talk show.

budget in mid-July after a shock election outcome in which Modi failed to win a majority and has returned to power with the help of allies. The budget, Modi's first major policy announcement in his third term, is expected to lay out possible changes to India's economic priorities for the next five years, the tenure of the coalition government. Indian Finance Minister Nirmala Sitharaman is considering lowering personal tax rates for certain categories of individuals while sticking to the nation's fiscal deficit target for the year, government sources have said.

Denmark, a major pork and dairy exporter, will introduce a tax on livestock carbon dioxide emissions from 2030, making it the first country to do so and hoping to inspire others to follow, the government said on Tuesday. A tax was first proposed in February by government-commissioned experts to help Denmark reach a legally binding 2030 target of cutting greenhouse gas emissions by 70% from 1990 levels. The centrist government late on Monday reached a wide-ranging compromise with farmers, industry, labour unions and environmental groups on policy linked to farming, the country's largest source of CO2 emissions.

China's premier called Tuesday for countries to «oppose decoupling», as economic tensions simmer between Beijing and the West, and the European Union prepares to impose new tariffs on Chinese electric vehicles. Friction between the West and the world's second-largest economy has intensified in recent years, particularly as Beijing and Washington compete for supremacy in advanced technology and new «green» industries. «We should broadly open our minds, work closely together, abandon camp formations, (and) oppose decoupling,» said Li Qiang, China's second-ranking leader, who has been tasked by President Xi Jinping with managing economic affairs.

Suzlon Energy shares have rallied 11% since June 4, 2024, after a 3% fall on the election outcome. On Monday, the counter hit a fresh 52-week peak and in the process gave a breakout from the last week high. The stock is a momentum pick, say analysts who see up to 28% upside over the current levels. On Tuesday, Suzlon Energy stock ended at Rs 53.62, down by Rs 1.09 or 2%.

Stock Market News: The domestic benchmark indices, the Sensex and the Nifty 50, rose early on Wednesday, with the Sensex reaching a new all-time high level. However, shortly after, investors began to take profits, and the market began to move sideways.In early trade, the 30-share BSE Sensex increased by 134.64 points to reach a new all-time high of 78,188.16.

On Tuesday, the Nifty futures closed with a 0.81% gain at 23,735 levels. The India VIX increased by 1.81% from 14.06 to 14.31 levels.

Avalon Technologies with a target price of Rs 700. The current market price of Avalon Technologies Ltd. is Rs 557.55. Avalon Technologies Ltd., incorporated in the year 1999, is a Small Cap company (having a market cap of Rs 3650.67 Crore) operating in General sector.

Yemen's Houthi rebels early Wednesday targeted a ship in the Gulf of Aden and the southern Israeli port city of Eilat, authorities said. The attacks follow the departure of the USS Dwight D. Eisenhower after an eight-month deployment in which the aircraft carrier led the American response to the Houthi assaults. Those attacks have reduced shipping drastically through the route crucial to Asian, Middle East and European markets in a campaign the Houthis say will continue as long as the Israel-Hamas war in the Gaza Strip rages. The ship attack happened off the coast of Aden, the British military's United Kingdom Maritime Trade Operations center said.

FedEx on Tuesday forecast fiscal 2025 profit above analysts' estimates, and shares in the delivery giant soared as executives said slashing expenses and consolidating operations would bolster returns even as demand remained weak for package deliveries. Shares of FedEx jumped 14 in extended trading as the Memphis-based company targeted fiscal 2025 earnings of $20 to $22 per share — the midpoint of which was slightly above analysts' estimate of $20.92. The company is also weighing whether to will keep or sell its freight trucking business that generated revenue of $2.3 billion in the latest quarter.

₹169.77 crore—including ₹44.3 crore for the April-December 2023 period and ₹73.47 crore for Q4—for the differential regulatory fee, pending Sebi’s final decision on its request. While BSE declined to comment on the matter, a query to Sebi went unanswered. Notional turnover refers to the total value of an options contract while premium turnover refers to the actual traded value.

Indian stock market: Despite weak global cues, Indian stock market benchmarks, including the Sensex and the Nifty 50, reached new record highs on Tuesday, June 25. The Nifty 50 reached a new all-time high of 23,754.15, while the Sensex also achieved a fresh peak of 78,164.71 during the session.The Nifty 50 concluded the session up 183 points, or 0.78%, closing at 23,721.30, while the Sensex posted a gain of 712 points, or 0.92%, finishing at 78,053.52. Both indices achieved record closing levels.“Nifty steadily inched upwards to make a fresh high of 23,754 levels.

Buy or sell stocks today: Following a rally in the banking stocks, the Indian stock market ended higher on Tuesday. Before ending at the 23,721 mark, the Nifty 50 index touched a new lifetime high for the 34th time in 2024.

One Piece episode 1110 as the Egghead Arc nears its conclusion. The popular series, adapted from Eiichiro Oda's manga, continues to thrill viewers.

Amazon India has admitted to workplace safety lapses at its warehouse in the National Capital Region. In its submission to the central labour commissioner, the company accepted that there was a violation of workplace safety standards on May 16, 2024, at its Manesar warehouse and assured the government of a prompt corrective action. In a detailed response to the central labour ministry's query on the matter, seen by ET, Amazon India said one of the employees at the building did lead a small subset of employees and associates in a pledge after both the breaks had been taken, thinking it to be a motivational exercise for the team. «This was an unfortunate and isolated incident, and a clear violation of our workplace safety standards,» it said in a letter submitted to the government. «Prompt disciplinary action has been taken against this employee,» it said. ET has seen Amazon's response to 10 workplace safety and standard related questions raised by the government after reports emerged its employees were forced to take a pledge that they «will achieve the target, and refrain from using the washroom and avoid drinking water.»

'The Claman Countdown' panelists Kate Moore and Joseph LaVorgna predict the Federal Reserve's interest rate moves and the yield curve's normalization.

Manulife Financial Corp. says it has boosted a key profitability target as it hosts its first investor day in Asia since 2017.

May’s inflation rate came in surprisingly high, leading some economists to cast doubt on their predictions of a second interest rate cut next month.

arrest warrants for Russia's chief of the General Staff Valery Gerasimov, and former defence minister Sergei Shoigu. Warrants were issued for the alleged war crimes of directing attacks at civilian objects and causing excessive incidental harm to civilians, as well as the crime against humanity of «inhumane acts» in Ukraine, the ICC said in a statement. ICC judges said there were «reasonable grounds to believe that the two suspects bear responsibility for missile strikes carried out by the Russian armed forces against the Ukrainian electric infrastructure from at least 10 October 2022 until at least 9 March 2023.»

MUMBAI : A crucial and much-awaited trigger for battery maker Amara Raja Energy & Mobility Ltd has played out—a technology tie-up for lithium-ion. Its subsidiary Amara Raja Advanced Cell Technologies entered into a technical licensing agreement with GIB EnergyX Slovakia, a subsidiary of China-based Gotion High Tech Co. The partnership will help the battery maker get access to GIB’s LFP technology for lithium-ion cell manufacturing.