Target Financial News

maintained its key interest rates at 5.25-5.50 per cent for the fifth straight meeting. Brent crude futures for May were down 68 cents, or 0.8 per cent, to $85.27 per barrel after dropping by 1.6 per cent on Wednesday. US West Texas Intermediate futures for May were down 69 cents, or 0.9 per cent, to $80.58 per barrel after a fall of about 1.8 per cent in the previous session, according to Reuters.

Over the past couple of weeks, economic data, especially inflation, have dampened risk appetite and led to a sharp correction in cryptos.

By Svea Herbst-Bayliss and Dawn Chmielewski

Hermes is being targeted in a new lawsuit accusing the luxury retailer of selling its coveted Birkin handbags only to customers who have spent exorbitant amounts of money at the store on other goods

The Bank of England has kept its main interest rate unchanged at a 16-year high even though inflation continues to drop from multi-decade peaks

What could be in the federal budget that Finance Minister Chrystia Freeland is delivering on April 16? It’s really anyone’s guess, but some insights can be gleaned from the government’s recent pre-budget report, as well as from various pre-budget industry newsletters, each offering up their own predictions and recommendations of what might be in store.

For more than a year now, the acquisition of United States Steel Corporation (NYSE:X), the iconic American steel giant, has appeared nothing short of inevitable.

midcap stocks hold potential to deliver decent growth. HSBC has identified 8 midcap stocks, which could give up to 58% returns. The Hong Kong-based brokerage argues why it considers them a safe bet. HSBC has dispelled fears of a deeper correction in midcaps from here, like what happened in 2018 when the BSE Midcap index fell by over 13%. It said many midcap stocks have even corrected 35-50% with valuations coming down to the 5-year mean. Moreover, the midcap market breadth has declined to 73% from 90%+ at the beginning of the year (versus 60% which is the normal cycle average breadth). This signals a limited downside.

By William Schomberg and Suban Abdulla

Analysts at SocGen told investors in a note Thursday to keep buying the S&P 500 as “US exceptionalism is going from strength to strength.”

The Centre’s direct tax collections, after refunds, stood at Rs 18.9 trillion as of March 17 in the current financial year, a release by the finance ministry said on Tuesday. The mop-up accounts for 97% of the revised target (RE) of Rs 19.5 trillion for FY24, and is 19.9% higher on year.

IIFL Finance, a prominent NBFC specialising in retail credit, have experienced a significant decline in their wealth as the company's shares have plummeted sharply after the RBI imposed restrictions on its gold loan disbursements, raising concerns about liquidity among investors and lenders. Over the past 12 trading sessions, the company has witnessed a substantial decline in its share price, plummeting from ₹597 per share to the current trading price of ₹336, marking a steep decrease of 44%.

Ather Energy, the leading electric scooter manufacturer, has introduced a new exchange program aimed at current scooter owners in Bengaluru who are interested in upgrading to the latest models, the 450X or the 450 Apex. This initiative, launched as a pilot program, targets select customers who registered for the Ather Upgrade program in January 2023. Under the Ather Upgrade program, valid until 31st March, owners of Ather 450 Gen 1 and Gen 1.5 who wish to upgrade to the 450X must complete their purchase, invoicing, and registration by 31st March 2024. Similarly, those opting for the 450 Apex have until 30th April to complete the process. Importantly, the entire transaction, including the handover of the old scooter, is expected to be completed on the same day. To participate, owners need to bring their scooter to the Ather Space Experience Center located in Indiranagar, Bengaluru. Trained personnel will conduct a thorough assessment of the scooter's condition and verify any pending traffic violations or fines. Based on these checks, Ather Energy will determine the eligibility of the owner for the exchange program.

Investing.com — Wall Street futures head higher after the Federal Reserve reaffirmed plans for three interest rate cuts this year. The Swiss National Bank became the first major central bank to cut interest rates, and more central banks are due. Reddit is set to start trading, having been priced at the top of its IPO range.

By Jamie McGeever

₹1,655.00 apiece on the BSE. Emkay Global initiated coverage on Motilal Oswal Financial Services (MOFSL) with a ‘Buy’ rating and a March 2025 target price of ₹2,000 per share, implying an upside of 26.5% from Wednesday’s closing price.

AFP quoted a provincial official as saying. According to the report, no one has claimed responsibility for the suicide bombing. Meanwhile, Taliban officials have confirmed that multiple explosions have been reported since the start of the holy month of Ramadan on 11 March, added the report.

The gains come on the back of a favourable coverage by Japanese brokerage Nomura which remains bullish on the prospects of the state-run refiners. However, Macquarie and Kotak Institutional Equities hold bearish views on them amid likely pressure on margins.

IMF has confirmed that cash-strapped Pakistan is seeking a 24th medium-term bailout package for a permanent push towards longstanding structural reforms. The International Monetary Fund (IMF) in its end-of-mission statement on Wednesday said the cash-strapped country «expressed interest in a successor medium-term Fund-supported programme to permanently resolve Pakistan's fiscal and external sustainability weaknesses, strengthening its economic recovery, and laying the foundations for strong, sustainable, and inclusive growth», Dawn News reported. It said the global lender's team reached a staff-level agreement with the Pakistani authorities on the second and final review of Pakistan's stabilisation programme supported by the IMF's USD 3 billion standby arrangement approved in July last year.

Also Read: Nifty 50, Sensex jump 1% each; why is Indian stock market gaining today? — explained with 5 critical reasons All 20 constituents of the index are currently trading in the green, with power financiers leading the charge. Power Finance Corporation saw a significant surge of nearly 6.8%, reaching an intraday peak of ₹385.85 per share, marking an end to a four-day decline.

₹3,024.90 on the NSE on March 4 of this year, Reliance share price has experienced some profit-taking. This month, the stock has witnessed a marginal decline of approximately one per cent, as of the closing on March 20. Also Read: Nifty 50, Sensex jump 1% each; why is Indian stock market gaining today? — explained with 5 critical reasons If the stock ends in the red in March, it will break the winning streak of the last four consecutive months.