Target Financial News

European markets have opened higher after a mixed day of trading in Asia

Any hopes the governing Conservative Party may have of the Bank of England cutting its main interest rate from a 16-year high of 5.25% are expected to be dashed

The Swiss National Bank says it has lowered its main policy rate by a quarter of a percentage point, citing a drop in “underlying inflationary pressure” despite an uptick in some costs like rents, tourism services and oil products

The 30-share BSE Sensex rose 141 points or 0.18% to settle at 77,479. The broader NSE Nifty gained 51 points or 0.22% to end at 23,567.

Rahul Gandhi on Thursday launched a string of attacks on Prime Minister Narendra Modi while addressing the media on the issue of NEET, and said that the BJP leader has been unable to plug alleged paper leaks in competitive exams. Gandhi said that following the recent Lok Sabha disappointment, PM Modi has “psychologically collapsed, someone even threw chappal at his car.” The Congress leader was making a reference to a video that has been circulating on social media where a footwear was allegedly hurled at PM Modi’s car in his constituency Varanasi.

FSN E-Commerce Ventures (Nykaa) with a target price of ₹220, implying an almost 28 percent upside. Jefferies has projected that Nykaa could achieve a compound annual growth rate (CAGR) of approximately 20 percent between FY24 and FY27.In its bull case scenario, growth could reach 25 percent, while in the bear case, it may dip to 15 percent over the same period, said the brokerage.Furthermore, the brokerage sees Nykaa's target price at ₹250 (45 percent upside) in the bull case scenario and at ₹130 (24.5 percent downside) in the bear case scenario."Nykaa has been able to carve out a niche for itself through its focus on BPC, which differentiates it from horizontals (Flipkart and Amazon).

₹800 crore and an Offer of Sale (OFS) of 1.36 crore equity shares by promoters and current shareholders.The proceeds of the new issuance will be used to pay off debt and for other company purposes. In the OFS, the selling shareholders are Satish Ramanlal Mehta (up to 1,730,000), Sunil Rajanikant Mehta (up to 40,000), Namita Vikas Thapar (up to 1,408,600), Pushpa Rajnikant Mehta (up to 1,150,000), Bhavana Satish Mehta (up to 531,400), Kamini Sunil Mehta (up to 125,000), BC Investments IV Ltd (up to 7,234,085), Arunkumar Purshotamlal Khanna (up to 300,000), Berjis Minoo Desai (up to 144,642), and Sonali Sanjay Mehta (up to 125,000).The book-running lead managers for the offer are Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India.

Also Read: PSU stocks: Valuation premiums likely to sustain, says MOSFL; SBI, GAIL among 5 preferred PSU stock picksICICI Securities’ stock picks in the chemical sector among direct beneficiaries are Navin Fluorine International, Chemplast Sanmar and SRF, and among indirect winners are Archean Chemical Industries and Tatva Chintan Pharma Chem.Here are top chemical stocks to buy:ICICI Securities has increased Navin Fluorine share price target to ₹4,135 from ₹3,960 earlier on slight increase in EPS by 1-4% over FY25-26E. The brokerage firm maintained its ‘Buy’ rating on Navin Fluorine shares and the stock remains its preferred pick in the agrochemicals intermediate segment.Chemplast Sanmar is next in our pecking order, and we have increased our EPS estimates by 2-9% over FY25-26E as we factor in slightly higher spreads for PVC business on rising regulatory aids, ICICI Securities said.

FACT (The Fertilisers and Chemicals Travancore) were locked in the 20% upper circuit limit at ₹1,093 apiece, resulting in a gain of nearly 71% in just 11 sessions. Similarly, other stocks such as Rashtriya Chemicals & Fertilizers, National Fertilizers, Madras Fertilizers, Chambal Fertilisers & Chemicals, Gujarat State Fertilizers & Chemicals, Paradeep Phosphates, Zuari Industries, and Coromandel International have all gained between 3% and 19% in today's intraday trade.Also Read: GSFC share price rises 7%: Prabhudas Lilladher expects more than 20% upside for the stockInvestors anticipate that the rise in MSP will enhance farmers' purchasing power, thereby stimulating their investment in agricultural inputs like fertilisers.

The Bank's Monetary Policy Committee is set to meet on Thursday (20 June) to decide the next step in the UK's interest rates path and is widely expected to continuing holding rates at 5.25%. While inflation saw an overall decline, core inflation, the measure that strips out more volatile components, remains high at 3.5%. Underlying areas such as services and home ownership costs were «unlikely to fall away anytime soon», however, according to Michael Field, European market strategist at Morningstar. UK inflation returns to 2% target but June BoE cut remains unlikely He argued to...

Uno Minda rallied 12% to its all-time high of Rs 1,180 in Thursday’s session on BSE after the global brokerage firm Goldman Sachs increased its target price to Rs 1,350 as it maintained a ‘buy’ call on the stock. The brokerage firm predicts that localization in high-margin alloy wheels will support profit growth visibility. It further added that early product portfolio on E2Ws represents kit value optionally.

Public Sector Enterprises (PSEs). In the 2021-22 budget, the government announced plans to monetize potential core assets of the central government and PSEs. The National Monetisation Pipeline (NMP), developed by Niti Aayog in consultation with concerned ministries, aims to monetize assets over a four-year period starting from FY22, with assets tottaling Rs 6 lakh crore earmarked for monetization.

Stock Market News: The domestic benchmark equity indices, the Sensex and the Nifty 50 started Thursday's session in green but however traded flat-to-negative amid mixed global cues.The Sensex began 96.95 points higher at 77,434.54, while the Nifty 50 gained 21.40 points to 23,537.40.The opening levels revealed a restrained but optimistic mood among traders, with predictions of sectoral performance shaping early trading patterns.Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, believes that the present market trend is a significant sectoral churn.

Also Read: MOSL advises multi-asset investments after election results: Here's what it recommends for equity, gold, fixed income“Factoring in favourable macroeconomic tailwinds, leading to an upgrade in our blended Nifty-50 target to 25,683 (from 24,084 earlier). The preference for large-caps remains.

rate decision from the Bank of England (BoE) later in the day, while the dollar was on the back foot as it awaited fresh market catalysts. Currencies were trading in tight ranges following a holiday in the United States and as investors looked not only to the BoE but also central bank decisions in Switzerland and Norway.

Bank of England was set to hold its interest rate steady on Thursday despite slowing UK inflation, with higher price risks and Britain's looming election preventing a cut, according to analysts. The BoE was widely forecast to keep its cost of borrowing at 5.25 percent, a 16-year high, following a regular monetary policy meeting.

After four consecutive months of easing core inflation and indications of further downward momentum in prices, members of the Bank of Canada‘s governing council agreed the time had come to cut rates in June, setting a new direction for monetary policy, a summary of their deliberations released Wednesday revealed.

Canada’s population surpassed 41 million in April, just 10 months after it hit 40 million in June 2023.

Life Ko Banao Rich. It wasn’t a phoenix, but observers could be forgiven for thinking so, given how the lender had risen from the ashes of its earlier mismanagement. This rebranding followed almost two years of discussions by the board of Yes Bank, now under the aegis of State Bank of India (SBI).

Gujarat government has decided to recruit 7,500 teachers who have cleared the Teacher Aptitude Test (TAT) to permanent positions across secondary and higher secondary state-run and grant-in-aid schools, following protests by eligible candidates. This decision, announced by government spokesperson and minister Rushikesh Patel on Wednesday, aims to fill vacancies within the next three months. The recruitment drive will target candidates who have cleared the TAT, a prerequisite for teaching positions in secondary and higher secondary schools. The state Cabinet headed by CM Bhupendra Patel also decided that the government will soon conduct the Teacher Eligibility Test (TET) for primary school teachers.

Nifty to 25,683. InCred also came out with a list of 19 high-conviction stock ideas, including HDFC Bank, M&M Finance. “Factoring in favourable macroeconomic tailwinds led to an upgrade in our blended Nifty-50 target to 25,683 (from 24,084 earlier). The preference for largecaps remains. We have added defensive stocks to our high-conviction ideas list and removed policy-risk stocks in the defence sector,” said a report by InCred Equities.