Target Financial News

NEW DELHI:India's power generation increased 9.69% to 153.77 billion units (BU) in April but fell short of target as temperatures soared to their highest in more than a century.Although the generation was higher on year, it fell short of the target of 161.71 million units, showed the CEA data, showed a monthly report by the Central Electricity Authority (CEA). A likely reason could be that thermal capacity addition failed to reach a targeted 800MW.Thermal power generation rose 10.87% on-year to 123.50 billion units as peak demand hit 235 GW on Wednesday, the highest so far this year.According to the India Meteorological Department (IMD), temperatures in April were the highest over eastern and northeastern India and the second highest over south India since 1901.Also Read: India is leading the way for sustainable power in the worldPower consumption last month was at 144.25 billion units, 10.49% higher than 130.55 billion units in the same period of FY23.Apart from thermal power, which constituted about 80% of the overall generation in the country, nuclear and renewable power s witnessed a rise in April.

Kolkata Knight Riders reaching the finals after defeating Sunrisers Hyderabad in the first qualifiers of the Indian Premier League on 21 May, the Shah Rukh Khan-owned franchise will face either SRH or Rajasthan Royals on Sunday.Now as IPL finals after just couple of days away, KKR skipper Shreyas Iyer's messages was posted by the franchise on its official Instagram profile.KKR wrote Iyer's message as, "We are happy but not yet satisfied but there is one more game to go."Here's the Instagram feed:A post shared by Kolkata Knight Riders (@kkriders)Md Faizan wrote, "Can Mumbai still qualify?"Another commented, "agr is bar kkr na jeeti to support krna bnd (sic)"Adarsh said, "Shreyas Bhai respect button""The target is set , let's conquer cheapuk again," one social media user wrote."Kkriders are ready to bring there 3rd trophy (sic)", said a netizen.Anaya commented, "Korbo lorbo jeetbo re

₹74,367 per ten grams to reach a new one-week low of ₹72,111 on the MCX, marking a decline of ₹2,256. The spot gold price dropped to $2354.95 per ounce in today's session, marking a three-day slide of $71, or 3%.

Nykaa’s operator FSN E-Commerce Ventures ended Thursday's trade 3% higher on BSE at Rs 174 after hitting the day’s high of Rs 187. The company reported a fourfold Q4 net profit of Rs 9 crore. The company also posted a 28% year-on-year (YoY) increase in operating revenue for the March quarter to Rs 1,667 crore led by a 24% increase in the core business, beauty and personal care (BPC), to Rs 1,388 crore during the quarter.

₹2.1 lakh crore dividend to the government. This development is a significant macroeconomic positive for the market, with direct implications for the fiscal deficit and bond yields."The infusion of funds is akin to an indirect rate cut for the economy, as it is expected to lead to a reduction in bond yields.

Sterlite Power Transmission Ltd (SPTL) on Thursday said it has received shareholders' nod to demerge its transmission business. The demerged transmission infrastructure is to be housed under Sterlite Grid 5 Ltd, and the global products and specialised EPC services will continue to remain under SPTL to pursue independent growth strategies. «Sterlite Power receives stakeholders' approval for demerger of transmission business from SPTL. The vote on the demerger proposal received 100 per cent approval from secured creditors, 99.26 per cent approval from unsecured creditors, 99.99 per cent from equity shareholders present and voting, and 100 per cent by the non-fund-based lenders,» the company said.

The Securities and Exchange Commission under the Biden administration has made it easier for investors to try to drag corporations into political and cultural battles, but brewing lawsuits seek to silence the activists. After a change in SEC policy eased the path for shareholders to bring forward certain proposals, investors of all political stripes have increasingly pressed companies on hot-button issues such as climate, abortion, guns and diversity, filing hundreds of proposals each year.

Chhattisgarh Chief Minister Vishnu Deo Sai on Thursday hailed the Calcutta High Court's decision to scrap the OBC status of several classes in West Bengal, calling it a slap in the face of those indulged in appeasement politics through «religion-based» quota. The HC on Wednesday struck down the OBC (Other Backward Class) status of several classes in Bengal, finding such reservations under a 2012 Act to vacancies in services and posts in the state illegal. It observed that the inclusion of 77 classes of Muslims in the list of backward categories was to «treat them as vote bank». West Bengal Chief Minister and TMC supremo Mamata Banerjee has asserted that she will not accept the order and hinted that her government could challenge it in the Supreme Court. Asked about Banerjee's statement, Sai told reporters here, «We welcome the decision of Calcutta High Court over religion-based reservation. It is a slap in the face of those who practise vote bank and appeasement politics by giving religion-based reservation.»

Narendra Modi on Wednesday criticised INDIA bloc and said that it has been formed to protect corruption of ally parties. The remark came during his exclusive interview with Economic Times. When asked about the Opposition's claim that the government's anti-corruption drive is a targeted investigation, Modi responded, «These accusations from the Opposition seem to come from a fear of being caught and having their corruption exposed. »The fact is that INDI Alliance is a bloc that has been formed to protect each other's corruption, and the money that they looted from the citizens is there for everyone to see each time a corruption scandal is exposed," he added.

Responsive Industries, a leading manufacturer of PVC products with a 'buy' rating and a 24-month target price of ₹436 apiece, citing long-term growth opportunities in the vinyl tiles. The target price implies an upside of 44% from the stock's latest closing price of ₹302.

«I think RBI has been building up the forex reserves which are essentially being invested in securities which are overseas sovereign securities. The bond yields generally have gone up. In US bond yields have remained in the range of about 4% to 4.5%, even up to 5% on a short-term has gone up to 5%,» says A Balasubramanian, MD & CEO, ABSL AMC. It is like a good birthday gift the economy has got. Nobody was expecting such a big fat dividend from RBI. And at least one lakh crore is something which has come as a surprise number. I mean 70,000, 80,000 crore is something which was anticipated and expected. Maybe one lakh crore was expected. But 2,10,000 crore, nobody was expecting. Why do you think Reserve Bank of India has given this dividend? I mean, what has changed on their balance sheet which has in a sense, prompted them to be so generous with the dividend payout? I think as you rightly put it, the average dividend declaration that used to happen every year somewhere in the range of about 65,000 to 80,000 crores numbers. And these are, of course, numbers, one, it came as a big surprise and second, there are reasons as well for that.

India's economic trajectory over the next five years positions it as a prime target for global investments. This outlook is driven by a stable macroeconomic environment, robust earnings growth among Indian corporations, and increasing weightage in the MSCI Emerging Markets (EM) index. The inclusion of Indian debt in prominent Emerging Market Bond indices further enhances the attractiveness of India's investment landscape. With software services and remittances significantly contributing to foreign exchange (forex) inflows, India's forex reserves have reached unprecedented levels, setting the stage for ambitious future targets. Capital Account Inflows and Remittances:

Opposition parties have been critical, of course, about the Bharatiya Janata Party and Prime Minister Narendra Modi for the recent electoral discourse, which they say is 'communal and polarising'. Yet, India’s top leader remains unfettered. The BJP stalwart believes he is merely showing the INDIA bloc a mirror. In an interview with The Economic Times, PM Modi spurned the allegations of the 2024 Lok Sabha campaign turning communal, polarising. «Perhaps, you find it polarising because you have not examined the crux of the matter. What is truly communal and polarising is the Congress party’s manifesto, their issues and their intent. It is my duty to expose them. Just because I am exposing them, you think it is polarising,» Modi said.

₹900. As of the close on May 22, the stock remains significantly below this benchmark, trading at ₹539.30 — over 40 percent lower than its initial offering price.Star Health was listed at ₹845.00 on December 10, 2021, marking a 6.11 percent discount from its offer price. On the same day, the stock briefly reached a high of ₹940, the only time it surpassed its IPO price.The stock has continued its weak performance, down over 9 percent in the last one year and completely flat in 2024 YTD.

Paytm fell 3% to Rs 358.3 in Thursday's trade on the BSE, a day after the company announced its Q4 results. Paytm released its Q4 earnings early on Wednesday, and the stock closed 5% higher later that day following the announcement. Paytm's losses widened to Rs 550 crore in the fourth quarter ended March 2024. The same stood at Rs 169 crore in the last year quarter.

NASA and Boeing are targeting June 1 for the company's first crewed launch of its Starliner spacecraft as engineers investigate the cause of a helium leak and examine how it could affect crucial parts of the mission, the agency said Wednesday. The helium leak on Starliner's propulsion system has held up the spacecraft's first mission to space carrying humans, initially planned for May 7 but successively delayed as NASA and Boeing attempt to fix the issue and run new tests on the spacecraft.

Eris Lifesciences with a target price of Rs 1100. The current market price of Eris Lifesciences Ltd. is Rs 901.6. Eris Lifesciences Ltd., incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 12347.29 Crore) operating in Pharmaceuticals sector.

Sun Pharmaceutical Industries with a target price of Rs 1710. The current market price of Sun Pharmaceutical Industries is Rs 1540.3. Sun Pharmaceutical Industries Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 369329.63 Crore) operating in Pharmaceuticals sector.

IRB Infrastructure Developers with a target price of Rs 86. The current market price of IRB Infrastructure Developers Ltd. is Rs 73.37. IRB Infrastructure Developers Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 44326.26 Crore) operating in Infrastructure sector.

Sudarshan Chemical Industries with a target price of Rs 973. The current market price of Sudarshan Chemical Industries Ltd. is Rs 840.35. Sudarshan Chemical Industries Ltd., incorporated in the year 1951, is a Mid Cap company (having a market cap of Rs 5751.40 Crore) operating in Chemicals sector.

Navneet Education with a target price of Rs 182. The current market price of Navneet Education Ltd. is Rs 166.3. Navneet Education Ltd., incorporated in the year 1984, is a Small Cap company (having a market cap of Rs 3608.10 Crore) operating in Paper sector.