Target Financial News

Microsoft beat Wall Street estimates for third-quarter revenue and profit on Thursday, driven by gains from adoption of artificial intelligence across its cloud services, and the company's shares jumped more than 4% in extended trade. Executives forecast ranges for current quarter cloud revenue that were mostly above Wall Street targets.

fund managers suffered their worst-ever quarter for ESG-focused products as the pace of client redemptions intensified. Client withdrawals from US funds targeting environmental, social and governance goals reached $8.8 billion in the first three months of 2024, according to fresh data compiled by Morningstar.. That stood in stark contrast to the roughly $11 billion of inflows into ESG funds in Europe, where sustainable investing regulations are far more entrenched.

Wibmo, a provider of authentication services for online digital payments, is building a complete payment gateway solution. By creating a prepaid issuance stack and a neo-banking solution for banks, Wibmo aims to support digital distribution capabilities of large banks and financial services firms.

Buy or sell stocks for today: Despite weak global market sentiments on disappointing forecasts from Facebook and Instagram parent Meta, the Indian stock market ended higher for the fifth straight session on Thursday. The Nifty 50 index gained 167 points and closed at a 22,570 level, the BSE Sensex surged 486 points and ended at the 74,399 mark while the Bank Nifty index finished 305 points higher at the 48,494 level. Cash market volumes on the NSE were higher on the monthly F&O expiry day at Rs.

Prabhudas Lilladher has raised its target on the Nifty for 2024 to 25,810, implying an upside of 14.35% from Thursday's closing of 22,570, and advises investors to buy during dips. The firm expects the BJP-led NDA government to win the elections. «June beginning is a crucial turning point as uncertainty around the political front and monsoons will be over, which can significantly increase FII inflows,» said Amnish Aggarwal, head of institutional research, Prabhudas Lilladher, in a note to their clients.

A disappointing earnings report from Meta Platforms Inc. has technology investors on edge ahead of results from some of the stock market’s biggest and most important companies in the coming days.

Amid a whirlwind of developments within the cryptocurrency market, BlockDAG (BDAG) steals the spotlight with its groundbreaking announcement of a potential 30,000X return on investment (ROI) following a monumental keynote. As excitement mounts over BDAG’s ambitious prospects, other major players are also making waves. BNB coin sets its sights on the coveted $600 mark, showcasing resilience amidst market fluctuations, while Cardano gears up for transformative upgrades to address longstanding criticisms and enhance its ecosystem. 

Bajaj Finance, IndusInd Bank, Tech Mahindra among 38 companies to report Q4 earnings on April 25 While Joshi did not delve into the specifics of how the margin target would be achieved, Rohit Anand, Tech Mahindra’s chief financial officer, said the company is planning “cost-saving exercises to stabilize the margin by next year, before growing further by FY27". To be sure, the company’s margin was 6.1% in FY24—the worst among the top six IT services firms. According to Joshi and Anand, Cost-saving initiatives will amount to reducing expenses by $250 million per year to reach its margin target.

Japanese automaker Honda is putting $15 billion into their Ontario operations with a new electric vehicle manufacturing plant in Alliston, Ont. with a joint $5 billion coming from the federal and Ontario governments.

Shares of Meta Platforms sank nearly 15 per cent on Thursday, sparking a selloff in big tech stocks after the social media giant signaled its costly bet on AI would take years to pay off.

Environmental Protection Agency Administrator Michael Regan says new rules that would force power plants fueled by coal or natural gas to capture smokestack emissions or shut down are targeting pollution that's “pushing our planet to the brink.”

A new rule in California aims to limit health care price increases to just 3% each year

Also read: Heatwave alert: IMD says temperature to soar in Bengal, Odisha, and other states "Consequently, retail inflation in FY2023-24 witnessed a significant decline, reaching its lowest level since the covid-19 pandemic, with core inflation dropping to 3.3% in March 2024," it added. Core inflation strips out the prices of food and energy that tend to be volatile.

A ship traveling in the Gulf of Aden has come under attack, the latest assault likely carried out by Yemen’s Houthi rebels over Israel’s ongoing war on Hamas in the Gaza Strip

Sweden has officially become a member of NATO, the North Atlantic Treaty Organization, amid rising tensions with Russia. This move comes as part of NATO's efforts to bolster its defences in the wake of Russia's invasion of Ukraine. The addition of Sweden and Finland, which joined earlier, marks the alliance's largest expansion since the 1990s. NATO's Purpose and Membership NATO was established in 1949 to counter Soviet expansion and maintain peace in Europe. It has since grown to include 32 member countries, including the UK, US, Canada, France, Germany, Italy, Spain, and Turkey. Following the Soviet Union's collapse, many Eastern European countries joined, and now, Sweden and Finland have joined the alliance, contributing nearly 300,000 troops.

textiles ministry is gearing up to launch a revamped Cotton Technology Mission aimed at improving the quality and output of India's "white gold" by adopting best practices that could position India as a prime destination for textile sourcing and foreign investment, two people aware of the matter said. This mission is designed to reduce dependence on imports for this crucial raw material for fibre, and to increase the incomes of India's more than 6 million cotton farmers, they said.

US fund managers suffered their worst-ever quarter for ESG-focused products as the pace of client redemptions intensified.

Kotak Mahindra Bank share price saw a steep fall of 10.85% to close at ₹1643 levels on the BSE on Thursday. The fall in Kotak Mahindra Bank share prices was led by Reserve Bank of India ban on Kotak Mahindra Bank’s digital onboarding and credit card issuance.

Cred on Thursday said it has launched offline retail payments at large format stores. It has completed the pilots and will roll out the solution at select merchant outlets throughout this year. The Peak XV-backed startup, which has been pushing its UPI payments feature aggressively, wants its customers to start using the app to scan QR codes at premium retail outlets. These include supermarkets, quick-service restaurants, salons, fashion and other lifestyle retailers. The product is mostly targeted at merchants who have a large ticket size average transaction and their customers typically pay with credit cards.

Tomorrow's IPL Match: Kolkata Knight Riders (KKR) will take on Punjab Kings (PBKS) on April 26 at the Eden Gardens in Kolkata. DC, having won five out of seven matches, are at number two on the points table at the moment. They have won two out of their last five matches.

Rahul Sharma, Director & Head — Technical & Derivatives Research, JM Financial Services, says “there are two PSU stocks which we are very confident on. One is from the PSU banking space. The Bank of Baroda looks pretty strong at these levels. We feel there is a strong case for a target of Rs 285-295 on the upside, the PSU banking index has turned around, so can be bought with a stop loss of Rs 251. Another stock which looks good on the power side, Power Finance Corporation (PFC). The stock has been quiet for many weeks now and we feel the time is right for the stock to give an up move, so can be bought with a stop loss of Rs 394 and an initial target of Rs 425.” Today’s the day of the monthly expiry. Should we brace ourselves for a 3 pm move? Rahul Sharma: Yes, it has been quite a subdued one so far. But the good thing is the mid-month crash got over last week. Post that, we have seen a very smart recovery. Now, we are heading on to the main series, which has historically been a very positive month out of like 10 times Nifty has been in the green 7 times in the last decade and at the same time we have also seen ultra-low levels on the India VIX which is suggesting that the option participants are not fearful of like a big down move at this point in time.