Target Financial News

₹78,000. The intent and messaging of the scheme’s ‘300 free units’ is clear. The government aims to address energy equity, with the dual benefits of boosting household incomes and promoting energy security.

Servotech share price: Despite the challenging market conditions, Servotech Power Systems Ltd declared its Q4 results 2024 on Thursday, showcasing a remarkable revenue growth of 13.89% in Q4 FY24 to ₹136.65 Cr & a growth of 27.49% in the year ended FY24 to ₹355.26 Cr on a YoY basis. The company's profitability also demonstrated its resilience, with PAT increasing by 6.69% to ₹11.80 Cr in FY24. EBITDA increased by 18.05% to ₹22.36 Cr in FY24, a testament to its increased operational efficiency and the ability to generate higher-value products.

Also Read: Market Meltdown: Indian stocks lag behind global peers in May – key reasons explained According to the brokerage, the country's healthcare expenditure, currently at only 3% of GDP, has historically lagged behind global counterparts due to higher 'out of pocket' expenses (51%), and lower health insurance penetration (39%). However, with diagnostics representing approximately 7% of the healthcare industry, there's significant potential for growth as India focuses on enhancing spending on essential healthcare services.

Punjab National Bank (PNB), one of India's major state-run lenders, is set to complete a significant share sale to institutional investors within the next six months, Chief Executive Officer Atul Kumar Goel has said. The move is part of an effort to bolster the bank's capital reserves, Goel told Reuters in an interview. In December, the bank's board approved a plan to raise 75 billion rupees (approximately $898 million) through equity capital.

₹230 per share from ₹170 earlier largely driven by Blinkit and has retained its ‘Buy’ rating on the stock. It values the food delivery business at ₹121 (DCF basis), Blinkit at ₹90 (DCF basis), and cash and other investments at ₹18 (book value).

₹68,500 per 10gms, targeting an initial upside of ₹74,000 per 10gms, followed by ₹78,000 per 10gms levels. Conversely, a decisive break below the previous swing low of ₹65,200 per 10gms could disrupt the trend, potentially leading gold to retest the ₹63,300-Rs.63,800 per 10gms range, it predicted. Following a robust performance last year, gold has been persistently climbing upward, registering an approximate 12.50 percent gain on domestic exchanges thus far.

An attacker involved in a $68 million address poisoning scam has exhibited a gesture of goodwill by returning $153,000 worth of Ether to the victim.

Tomorrow's IPL Match: Kolkata Knight Riders (KKR) will play against Mumbai Indians (MI) on May 11 at the Eden Gardens in Kolkata. KKR, having won eight out of 11 matches, are leading the points table. Kolkata have won four out of their last five matches.

Brokerages remain bullish on State Bank of India(SBI) after the lender made a swift recovery in earnings reporting a standalone net profit of Rs 20,698 crore in Q4, up 24% YoY. The estimates on the target price for SBI go as high as Rs 1,000. The profit was higher than the Street estimate of Rs 16,695 crore.

Gujarat State Petronet with a target price of Rs 350. The current market price of Gujarat State Petronet is Rs 290.15. Gujarat State Petronet Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 16429.84 Crore) operating in Gas & Petroleum sector.

Sanjiv Bhasin, Director, IIFL Securities, says: “ This is the time to pull up your socks, ignore the fear and buy the stocks which you most wanted to and hopefully by Tuesday, Wednesday, we should be back to normalcy as far as the VIX goes and then we will take it with global cues.” Bhasin further says: “The pessimism on certain stocks and sectors has been overdone. Some of the largecap banks like HDFC, ICICI are looking very good, and of course, some of the PSUs. But the real killing will be in the commodity stocks. So, Coal India, Vedanta, NALCO, SAIL, Tata Steel basket is looking very strong. From their highs, the stocks have not even corrected 5%. If this market trends, which according to me on Tuesday, fingers crossed, then these stocks are headed to new highs. ” It is getting a little worse out here? When was the last time L&T fell that 6% or so and I am not even getting into other individual names here where the selling was excruciating. What is the strategy now? Do you throw in the towel and sell into the market or wait patiently because you see some recovery in store? Sanjiv Bhasin: What a week! Last Thursday, I was with you in Mumbai and we were hitting new highs and I told you to take some money off the table.

₹20,698 crore in the fourth quarter of FY24, registering a growth of 24% from ₹16,694.5 crore in the year ago quarter. The PSU lender’s management expects to grow its credit book by 14-16% in the current fiscal year, reflecting the general optimism around domestic growth. It projected deposit growth of 12-13% for FY25.

₹621.95 and ₹514.40 apiece. This uptick followed both companies reporting in-line performance for the March quarter and for the full fiscal year FY24. Compared to the performance in the March quarter, both companies have exhibited improved performance for the full fiscal year FY24.

The Nifty future closed negative with losses of 1.43% at 22072 levels on Thursday. India VIX was up by 6.56% from 17.08 to 18.20 levels.

Proximus is aiming to double its revenue from the digital communications business to $3 billion and operating margins to 15% over the next 3-4 years after buying Route Mobile in India’s biggest in-bound FDI deal in the domestic cloud communications industry. “We are extremely excited about the synergies emerging out of this deal, that is, leveraging Route Mobile’s India success story to grow our communications business in USA and Europe markets, while also taking our affiliate company Telesign’s digital fraud prevention solution to enterprises in India,” Guillaume Boutin, CEO, Proximus, told ET Thursday. Proximus has completed the acquisition of 57.56% of RML’s shares held by promoters for EUR 643 million (Rs 5,922 crore) in cash.

dollar had a soft tone in early Asian trading on Friday after losing ground overnight to the euro and sterling on the back of U.S. data showing further signs of a cooling labour market and hence higher odds of Fed rate cuts this year. Against the Japanese yen, the dollar was trading at 155.39 yen, down from highs of 155.95 hit in the previous session. The euro stood at $1.0782, after a 0.3% gain overnight.

Equity markets took a heavy beating with the BSE Sensex tumbling 1,062 points on Thursday. Analysts said investors are trimming their equity exposure at a faster pace as the election season heats up, which can be seen from the drubbing that mid and small-caps received. Stocks that were in focus include names like IRB Infra, which fell 3%, IGL, which was down 2.48%, and Dr Reddy's, whose shares declined 2.8%.

Stock market today: Following weak global sentiments, the Indian stock market ended lower for the fifth straight session on Thursday. The Nifty 50 index crashed 345 points and closed below the 22,000 mark at 21,957. The BSE Sensex tanked 1062 points and finished at 72,404, while the Bank Nifty index, which tracks the performance of the banking sector, nosedived 533 points and ended at a 47,487 level.

Buy or sell stocks for today: Following weak global sentiments, the Indian stock market ended lower for the fifth straight session on Thursday. The Nifty 50 index, which represents the performance of the top 50 companies listed on the National Stock Exchange (NSE), crashed 345 points and closed below the 22,000 mark at 21,957. The BSE Sensex, the benchmark index of the Bombay Stock Exchange (BSE), tanked 1062 points and finished at 72,404, while the Bank Nifty index, which tracks the performance of the banking sector, nosedived 533 points and ended at a 47,487 level.

The most prevalent banking trojan was Bian.h, accounting for 22% of all Android attacks. Geographically, Afghanistan, Turkmenistan, and Tajikistan recorded the highest share of users encountering banking trojans, with Turkey leading mobile banking malware attacks."With the emergence of new and aggressive malware strains, attackers are evolving their tactics to target mobile devices more aggressively.

The regulation reports to create enhanced due diligence measures and checks on customer’s identity. Obliged entities, such as banks or cryptocurrency asset managers, have to report any suspicious activities to Financial Intelligence Units (FIUs) or other competent authorities. This is an increased level of due diligence on the cryptocurrency industry.