Target Financial News

By Lucia Mutikani

By Munsif Vengattil and M. Sriram

Bitcoin's surge to record highs has cascaded bullish momentum into the altcoin market. As institutional demand has grown individual investors have also shown greater interest in the crypto space, leading to growing fund inflows into the crypto space.

Chhindwara (MP), After days of suspense over their political plans, Congress MP Nakul Nath on Thursday categorically said that neither he nor his father, Congress veteran Kamal Nath were going to join the Bharatiya Janata Party. Speculation about the Naths' intentions was intensified in the last few days as several Congress workers from Chhindwara, the Lok Sabha constituency of Nakul Nath, crossed over to the ruling party. "Lok Sabha polls are going to be held in the next one or one-and-a-half months. Lot of rumours are being spread by BJP people that Kamal Nath and I are going to the BJP. Let me make it clear that neither Kamal Nath nor Nakul Nath are going to join the BJP," the junior Nath said at a public meeting at Navegaon in Chhindwara district. The BJP had won 28 out of the 29 Lok Sabha Seats in Madhya Pradesh last time while Chhindwara was the only seat retained by the Congress. The ruling party is trying hard to breach the Kamal Nath bastion this time. " Since February 1, a total of 5,000 Congress leaders and workers have joined the BJP as they were unhappy with their party's decision to boycott the Ayodhya Ram temple consecration ceremony," said the BJP's Chhindwara district unit president Bunty Sahu.

Indian auto industry is set to invest up to $7 billion, or about Rs 58,000 crore, by FY28 to deepen localisation of advanced components from electric motors to automatic transmissions to reduce imports and capitalise on multinationals’ ‘China Plus One’ sourcing strategy. Automakers and their suppliers are likely to make this investment between FY24 and FY28, industry body Automotive Component Manufacturers Association (ACMA) said. These firms have already undertaken more than 500 localisation projects across 11 key component categories including drive transmissions and steering, engines, electricals and body chassis at an investment of over Rs 3,000 crore to reduce net imports by 5.8% (double the target of about 3%), or by Rs 7,018 crore, in the two years to FY22, as per the latest assessment on localisation programmes jointly conducted by ACMA and Society of Indian Automobile Manufacturers (SIAM).

By Ankika Biswas and Khushi Singh

Never mind the layoffs: Some of the biggest U.S. tech companies have swelled their ranks much more than they have trimmed them. Microsoft, Alphabet and Netflix each employed 50% more people than before the pandemic, year-end disclosures show.

India has conducted two successful flight tests of a very short-range air defence missile off the coast of Odisha. The tests were carried out on Wednesday and Thursday. «The DRDO conducted two successful flight tests of Very Short-Range Air Defence System (VSHORADS) missiles on February 28 and 29 from a ground-based portable launcher off the coast of Odisha from integrated test range, Chandipur,» the defence ministry said. It said the tests were carried out against high-speed unmanned aerial targets under different interception scenarios. «During all the test flights, the targets were intercepted and destroyed by the missiles, meeting the mission objectives,» the ministry said.

FOX Business’ Kelly O’Grady provides analysis of the U.S.’s inflation data as the Federal Reserve continues to grapple with a smooth economic recovery.

Wall Street is poised to open with modest losses but is still on track for a winning February, despite a lackluster finish to the month

Japanese authorities say they had to abandon plans to send in drones for a second day to probe one of the damaged reactors at the Fukushima Daiichi nuclear power plant because of equipment failure

The Bank of Japan sent one of the strongest signals yet that the end is near for its negative interest rate policy — an event for which the market is underprepared.

BJP, which has consistently failed to win the Chhindwara Lok Sabha seat, the bastion of Congress veteran Kamal Nath in Madhya Pradesh, is making all out efforts this time to bag it, and set the target of inducting 50,000 workers from the rival party ahead of the polls as part of its ambitious plan. Kamal Nath held the Chhindwara Lok Sabha seat as many as nine times and it continues to remain with the family as his son Nakul Nath is currently an MP from there. Speculation was recently rife that the senior Nath may join the Bharatiya Janata Party (BJP) along with his son. However, the 77-old-leader, who was the chief minister of Madhya Pradesh for 15 months till March 2020, dismissed the buzz. Chhindwara has always remained the citadel of Congress. From 1952, the party lost this Lok Sabha seat just once in the 1997 by-election. During the 2019 general elections, the BJP bagged 28 out of 29 in MP, but failed to win Chhindwara. According to BJP leaders, the party is eyeing to achieve its ambitious plan of inducting around 50,000 Congress leaders and workers into its fold in Chhindwara ahead of the Lok Sabha polls that are likely to be held in April-May.

Centre has expressed strong concerns about five states not signing MoUs with the education ministry for PM SHRI schools and Punjab not implementing it despite continuing to take funds under the Samagra Shiksha scheme, sources said on Thursday. Odisha, West Bengal, Tamil Nadu, Kerala and Delhi have not yet signed the Memorandum of Understanding (MoU) with the Union Ministry of Education, while 30 states and union territories (UTs) have done so. The scheme targets to upgrade 14,500 schools and is expected to benefit 1.8 million students. It also aims to ensure these schools serve as model institutes and encapsulate the spirit of National Education Policy (NEP) 2020. The government has already selected 6,448 schools from 28 states and UTs for the upgrade in the first round.

Manipur police commandos on Wednesday registered arms down protest in connection with attack on the police officer and police are not allowed to retaliate, the police stated that police are a united team from top to bottom and any attack on anyone will be taken seriously and stringent action taken. District magistrates in several districts have requested additional deployment of Assam Rifles anticipating law and order problems. The police stated use of social media to target any officer or unit will be strongly dealt with by taking up cases and action. The police added Manipur Police being targeted, the need for calling in Army and Other Central forces will have to be enhanced.

₹11.03 trillion, or 63.6% of the revised annual estimate, according to data released by the Controller General of Accounts on Thursday. The fiscal deficit for the corresponding period of the previous year stood at ₹11.91 trillion, or 67.8% of the annual estimate of ₹17.55 lakh crore for FY23. The budgeted annual estimates for fiscal deficit, which was revised in the vote on account budget on 1 February, was at ₹17.87 trillion for FY24.

She will take on the role from 1 July 2024 for a five-year term, succeeding Broadbent's ten years in the role. Andrew Bailey: No need for inflation to come back to 2% target before cutting rates Lombardelli will be responsible for overseeing the formulation and implementation of UK monetary policy and lead the BoE's research, data and analytics.  She will also become a member of the Monetary Policy Committee and will lead the central bank's response to the publication of Ben Bernanke's review of the BoE's forecasting process, alongside the creation of a new data and analytics strat...

Vladimir Putin warned Western countries on Thursday that there was a genuine risk of nuclear war if they sent their own troops to fight in Ukraine, and he said Moscow had the weapons to strike targets in the West. Addressing parliament and other members of the country's elite, Putin, 71, repeated his accusation that the West is bent on weakening Russia, and he suggested Western leaders did not understand how dangerous their meddling could be in what he cast as Russia's own internal affairs. He prefaced his warning with a specific reference to an idea, floated by French President Emmanuel Macron on Monday, of European NATO members sending ground troops to Ukraine — a suggestion that was quickly rejected by the United States, Germany, Britain and others.

1. Havells Ventil Air DSP 230mm Exhaust Fan The Havells Ventil Air DSP is a robust 230mm kitchen exhaust fan, designed to keep kitchens, bathrooms, and offices free from smoke and odours. With a powerful air delivery rate of 510 and an RPM of 1350, it ensures efficient ventilation.

One 97 Communications (Paytm) have witnessed an almost 50 percent drop just in February as investor sentiment turned negative amid the RBI and Paytm Payments Bank Ltd (PPBL) saga. In a recent note, brokerage house UBS said it believes that any potential for a re-rating of Paytm based on profitability improvement has been delayed. It has retained a 'neutral' call on the stock and reduced its target price to ₹510 (from ₹650 earlier).

Stock to buy today: Triveni Turbine shares are one of the multibagger stocks that the Indian stock market has delivered in recent few years. In the post-COVID rally, Triveni Turbine share price has ascended from around ₹50 to ₹480 apiece level on NSE, delivering to the tune of 860 percent return to the bottom fishers. However, some brokerage firms still see some upside in this multibagger stock.