Target Financial News

BRUSSELS : The European Union charged Microsoft with antitrust violations related to the company’s bundling of its Teams collaboration tool with Office 365 and Microsoft 365. The European Commission, the bloc’s antitrust enforcer, said Tuesday it has informed Microsoft of its preliminary view that the company broke antitrust rules by tying Teams to popular productivity offerings that include Microsoft Word and Excel.

Netflix's initiative is targeting regions where free, ad-supported television networks are already prevalent. Insiders suggest this plan is designed to attract more viewers and bolster Netflix's competitive position against regional free TV offerings.For advertisers, the introduction of a free plan is expected to lead to a substantial increase in viewership and, consequently, higher ad revenue for Netflix.

ICICI Securities says that Nifty could reach 25,200 by December 2024, with strong support at the 22,200 level, keeping in mind the historical market trend in election years.“As envisaged in Feb-24 report, Nifty sailed through election based volatility and approached our target of 23400, Post election outcome, as anxiety settles down, while reigniting expectations on reforms agenda, budgetary allocations and earnings, markets have once again resumed upward trajectory," said the firm in a note.The brokerage firm further said that since 1999, in election years, the Nifty has typically gained a median of 21% from post-election outcome lows until the end of the year.Notably, these gains often come with intermediate corrections of 4-6%, presenting buying opportunities. Since June 2022, each 10% correction in the Nifty has been followed by a 20% rally over the subsequent six months.

HPCL, ONGC and Gujarat State Petronet (GSPL) are the only stocks with value in the Indian oil and gas sector, domestic brokerage firm Motilal Oswal stated in its report, noting that value trade has faded away in the sector. Motilal Oswal maintained a ‘buy’ call on HPCL, ONGC and GSPL with target prices of Rs 400, Rs 340 and Rs 385 respectively.

China’s premier has defended open markets and the importance of green technologies for stabilizing global growth as he opened a forum with political and business elites in northeastern China

logistics company Ecom Express is looking to raise Rs 1,424 crore (about $170 million) through a rights issue that is likely to be led by its existing investors Warburg Pincus, British International Investment (BII), and Switzerland-based Partners Group. The company’s shareholders have passed a resolution for the rights issue totalling 1.57 million compulsorily convertible preference shares at Rs 9,071 apiece – the same price at which Ecom Express did a rights issue in July last year, showed regulatory filings with the Registrar of Companies (RoC).

NEW DELHI : The underwhelming performance of local-language children’s films such as Chhota Bheem and the Curse of Damyaan underscores, once again, the struggles of an underserved genre in India. Trade experts say Indian children, who now have access to Hollywood franchises like the Avengers, no longer fancy substandard fare. The genre, which saw successes such as Chota Chetan, Koi..Mil Gaya and Taare Zameen Par in the 1990s and 2000s, doesn’t command immediate draw as most Indian children watch mainstream films that parents deem appropriate for the entire family.

Also Read: Quant Mutual Fund: How many days will it take to to liquidate its portfolio?Additionally, the push for affordable housing has led to increased construction activities, further boosting the demand for construction equipment and machinery. Rural electrification initiatives have also contributed to the sector's growth.

Jubilant FoodWorks with a target price of ₹490 (13 percent downside) and Accumulate on Westlife Foodworld with a target price of ₹817 (3 percent downside).The Quick Service Restaurant sector in India has traditionally been dominated by multinational giants like McDonald’s, Domino’s, Burger King, and Pizza Hut, which have established strong brand loyalty over the years. Despite their success, these brands only penetrate around 425 cities in India, leaving ample room for growth in a country with a large and aspirational youth population, noted PL.It further highlighted that local competition is intensifying within the QSR space, as many homegrown brands ambitiously expand nationally, offering burgers and pizzas with unique flavors at competitive prices.

YSRCP central office at Tadepalli in Andhra Pradesh recently, several district offices of the party have started receiving notices on the legitimacy of their construction. The opposition party shared a notice it received in the intervening night of Monday and Tuesday about the legitimacy of its Vizianagaram district office from the local civic body. «You are hereby directed to stop the unauthorized construction work and submit a reply to this notice within seven days from the date of receipt of this notice in writing by you/your authorised agent,» said the notice. In the event of no reply, the Vizianagaram Municipal Corporation warned that «it will be treated as a continuous and intentional offence and further action will be taken as per provisions laid down under Section 452 (1) and 461 (1) of APMC Act, 1955».

«I would definitely advocate one to move into safe bets as well as defensive sector. It can be in IT or one can even look at FMCG, one can even have positions in pharma, so I will definitely advocate at current level. Definitely one has to be careful. You have to move into defensive sector,» says CA Rudramurthy BV, MD, Vachana Investments. Yes, the divergent moves are coming in for the broader markets, but you have Nifty Bank charting new territory altogether 52,000. CA Rudramurthy BV: See, for me, both Nifty and Bank Nifty now is consolidating closer to the all-time highs only and whatever clues we get now from the result season as well as budget will hold the key. I feel at current level, one has to have a wait and watch kind of approach. You have to be very-very sector specific and stock specific. I would definitely advocate one to move into safe bets as well as defensive sector. It can be in IT or one can even look at FMCG, one can even have positions in pharma, so I will definitely advocate at current level. Definitely one has to be careful. You have to move into defensive sector. Wait for result season to pan out. Let us see how even budget comes out and then take aggressive position. So, for sure, this is not the time to take aggressive position, not to be in high beta and one has to have reduced leverage and risk management will hold the key if you are a very short-term trader.

JSW Steel, the steelmaking arm of the $24-billion JSW Group, on Tuesday announced plans to upgrade the manufacturing facility of its US-based subsidiary's Baytown, Texas, facility with an investment of $110 million. The company's US-based subsidiary, JSW Steel USA plans to produce high-quality monopile steel plates that are meant to be used in the planned expansion of offshore wind energy generation, which has a target of deploying 30 gigawatts (GW) by 2030.

silver July futures contracts opened at Rs 88,858/kg falling by Rs 141 or 0.16%. On Monday, gold and silver settled on a mixed note in the international as well as the domestic markets. On MCX, the gold August futures contract settled at Rs 71,791 per 10 grams with a gain of 0.29%, and the silver July futures contract settled at Rs 88,999 per kilogram with a loss of 0.16%.

AFG vs Ban T20 World Cup: In a setback to Australia, Afghanistan qualified for the semi-finals of the T20 world cup by beating Bangladesh. In the crucial Super Eights T20 World Cup match against Afghanistan, Bangladesh lost by 8 runs while chasing a target of 116 before rain halted play. Bangladesh's run chase was hit by an early setback as Afghan pacers Naveen Ul Haq and Fazalhaq Farooqi dismissed the top three Bangladesh batsmen at 31/3 in 3.3 overs. Earlier, Bangladesh's bowlers held Afghanistan to 115/5. Leg-spinner Rishad Hossain spearheaded the Bangladeshi bowling attack with impressive figures of three for 26. The Afghan top order struggled to gain momentum, unable to effectively counter Bangladesh's varied bowling strategies after opting to bat first. Despite a promising opening partnership of 59 runs in 10.4 overs, Afghanistan's progress stalled. Rahmanullah Gurbaz top-scored with 43 runs off 55 balls, reflecting the team's difficulty in accelerating the scoring rate.

Stock market today: After a weak opening, the Indian stock market remained volatile but ended marginally higher on Monday. The Nifty 50 index added 36 points and closed at 23,537, whereas the BSE Sensex finished 131 points higher at 77,341. The Bank Nifty index went up 42 points and ended at 51,703.

Mumbai/New Delhi: Millions of students vying for coveted colleges and courses makes India's vast education sector a prime target for cybercrime, experts said, at a time authorities have pointed to leaked question papers appearing in the so-called dark net. Besides, data of innumerable students may also be vulnerable to unauthorized access and misuse. Amid widespread student protests over the past two weeks, the government has raced to withdraw grace marks in the pre-medical entrance exam for MBBS and related courses, cancelled an exam for junior research fellowships at universities, and postponed another exam to admit students to post-graduate medical courses.

Kate Middleton in the sixth and final season of Netflix's "The Crown," actress Meg Bellamy, 21, has been the target of online bullying because of her weight. During an interview with 'Mail' on Sunday's 'You' magazine, Bellamy disclosed that she was subjected to body shaming and bullying on social media, with some even stating she was «too fat to play Kate.» When she checked her phone, she claimed to have received a lot of remarks criticizing her appearance, as per the reports of the New York Post. Negative comments

The Bank of Canada will be scrutinizing May inflation figures this week as it gauges whether it can deliver back-to-back interest rate cuts.

Shoppers Stop aims to capitalise on mass premium opportunities, disrupting India's value fashion landscape, according to the latest annual report of the K Raheja Corp group firm. Shoppers Stop, which competes with similar value formats as Trent's Zudio and Landmark of Max Fashion, is leveraging real-time insights, enabling frequent product drops and assortment refinements to stay ahead, it added. «We are targeting 60 new stores in FY2024-25 backed by strategic investments in merchandising, store operations, and customer analytics capabilities,» the company said.

Rahul Gandhi on Monday targeted the central government and listed ten issues that took place during the first fifteen days of Prime Minister Narendra Modi's government. The issues listed by Rahul Gandhi included alleged NEET irregularities, UGC NET paper leak, a train accident, water crisis, and more. Rahul Gandhi in a post on X, alleged that PM Modi is busy in saving his government and said, «First 15 days of NDA! 1. Horrific train accident; 2. Terrorist attacks in Kashmir 3. The plight of passengers in trains 4. NEET scam; 5. NEET PG cancelled 6. UGC NET paper leak 7. Milk, pulses, gas, tolls and expensive 8. Forests blazing with fire; 9. Water crisis; 10. Deaths due to lack of arrangements during the heat wave.»

MK Dhanuka, MD, Dhanuka Agritech, says that in order to make the pesticide available at reasonable prices for the farmers, the government should definitely think of reducing the GST on agrochemicals from 18% to either 5% or at least up to 12% immediately. The industry tried very hard this time for GST reduction but it was not taken up. What is your expectation? Will it be taken up going forward and if it is taken up, how much improvement do you expect in the industry because of that?