Target Financial News

US military said that three people have been killed and at least four wounded after a missile fired by Yemen's Houthi rebels hit a bulk carrier in the Gulf of Aden. The Indian Navy also added that critical medical aid was provided to injured crew.

Mahanagar Gas (MGL) slumped 15% in the previous trading session to ₹1,329 apiece, and they are down 16% from a record high of ₹1,580 apiece. This sudden downturn occurred after the company reduced CNG prices to pass on benefits to end consumers. Investors anticipate that this move will likely impact the company's margins in the future.

IIFL Finance jumped over 9% on Thursday to the day's high of Rs 417 on the NSE after breaking their four-session losing streak. The price action was amid strong volumes with over 79.84 lakh shares getting traded on the NSE at around 10 am. On Wednesday, Fairfax India Holdings Corporation, a longstanding investor in IIFL Finance announced that it will provide liquidity support of $200 million amidst the RBI embargo on the company's gold loan disbursements.

IIFL Finance, one of the leading NBFCs engaged in retail credit, rebounded in today's session with an intraday gain of 10%, reaching ₹420.40 apiece after the company on Wednesday announced that Fairfax India agreed to invest up to US$200 million in liquidity support amidst the recent Reserve Bank of India (RBI) embargo on the company's gold loan disbursements. "The RBI's embargo has raised liquidity concerns amongst the company’s investors and lenders.

17-year-old student was killed and four other people were wounded when gunfire erupted at a bus stop. The victims included two women who were riding on a bus.

₹215.35 apiece on the BSE. UBS has maintained a ‘Buy’ rating on Bharat Electronics shares, raised the target price to ₹257 per share from ₹205 earlier, and assigned a 35x PE to March FY26E earnings versus 30x earlier, given better earnings and new orders momentum.

Investing.com-- Oil prices fell slightly in Asian trade on Thursday, cutting short a recent rally as markets awaited more cues on demand from top importer China.

Houthis vow response after airstrikes by US, UK: 'These attacks will not…' Huthi military spokesman Yahya Saree said on social media that the True Confidence was targeted with multiple missiles "after the ship's crew rejected warning messages" from the Huthis. - Months of attacks - The British embassy in Sanaa had earlier said the toll was at least two dead, describing the loss of life as "the sad but inevitable consequence of the Huthis recklessly firing missiles at international shipping." British Foreign Secretary David Cameron meanwhile promised that "we will continue to stand up for freedom of navigation and back our words with actions." US, UK launch second round of strikes on Huthis in Yemen The United States and Britain have since January launched repeated strikes on Huthi targets in Yemen in response to the ship attacks, but the rebels have continued to target merchant vessels.

By Leika Kihara

Investing.com-- Chemicals maker Chemours Co (NYSE:CC) said on Wednesday that an internal review found that its  top three executives, who were placed on administrative leave last week, had violated the firm’s code of ethics, particularly regarding financial disclosures.

Developing-world currencies were mixed on Tuesday as traders awaited key speeches and data that could shed light on the outlook for US interest rates while losses in Hong Kong-listed tech stocks drove emerging-market equities lower. 

Federal Reserve Chair Jerome Powell reiterated to lawmakers that the US central bank is in no rush to cut interest rates until policymakers are convinced they have won their battle over inflation. 

The largest US public pension fund is looking externally for its next chief investment officer, following a long spell of lackluster returns and leadership churn. 

Buy or sell stocks: On account of strong buying in banking, healthcare, IT, and auto stocks, the Indian stock market witnessed a strong pullback in the last hour of Wednesday's session. All three key benchmark indices ended in the green territory. The Nifty 50 index ended 117 points higher after climbing to a new peak of 22,497 level.

South Africa has gone back to the United Nations’ top court seeking additional emergency orders for Israel to let more humanitarian aid into the Gaza Strip

Shares of GoDaddy (NYSE:GDDY) climbed more than 2% Wednesday after the company outlined a strategic three-year plan focusing on enhancing revenue growth, profitability, and achieving operational excellence.

Quiver Quantitative — Federal Reserve Chair Jerome Powell, in his recent testimony before the House Financial Services Committee, conveyed a cautiously optimistic outlook for the U.S. economy, emphasizing that it's not on the brink of recession. However, he expressed uncertainty about the timeline for rate cuts, acknowledging the need for further progress on inflation. This stance comes as Powell and other Fed officials grapple with balancing the goals of sustaining economic growth and achieving the Fed's 2% inflation target. With the current unemployment rate at 3.7%, the central bank aims for a 'soft landing' where the economy continues to grow without spurring inflation.

Centre sends to states through the single nodal agency (SNA) will happen within a day from April 1, eliminating the need to park it outside the government account for more than 24 hours. The SNA account is used for transferring funds to states for centrally sponsored programmes and there are timelines for the expenditure. The settlement of unspent money currently happens on a quarterly or monthly basis. The Department of Expenditure and the Reserve Bank of India are working together to upgrade the SNA system to settle the unused amount by the states in real time, which will also eliminate disputes over the payment of interest earned on such unspent funds lying in state SNAs, officials in the know said. The government and the banking regulator have already launched a pilot project in five states and will implement it across India from April 1, they said.

The Bank of Canada held its key overnight interest rate at five per cent Wednesday, with governor Tiff Macklem declaring it’s “still too early” to consider lowering the policy rate.

Investors are watching for any clarity about the timing of interest-rate cuts this year.

Federal Reserve Chair Jerome Powell on Wednesday reiterated that he expects interest rates to start coming down this year, but is not ready yet to say when.