Target Financial News

₹1,349.65 against the previous close of ₹1,407.75 and soon fell over 6 per cent to hit the level of ₹1,322. Around 9:20 am, the stock traded 5.53 per cent lower at ₹1,329.95. Tech Mahindra Q3 results: After market hours on Wednesday, Tech Mahindra reported a 61 per cent year-on-year (YoY) decline in its net profits which plunged to ₹510.4 crore in the December 2023 quarter from ₹1,296.6 crore in the year-ago period.

₹7,374.95 apiece on the BSE. Two-wheeler major Bajaj Auto reported a net profit of ₹2,042 crore in Q3FY24, a growth of 37% from ₹1,491 crore in the year-ago quarter. The company’s revenue from operations during the quarter rose by 30% to ₹12,114 crore from ₹9,315 crore, YoY.

Most passenger cars in the European Union still emit the same quantity of carbon dioxide as 12 years ago

Argentina's President Javier Milei faced a one-day general strike Wednesday protesting his decree targeting unions as well as his proposals for economic and labor law changes

Analysts at most top brokerages raised or retained share price targets on Axis Bank after the lender's December quarter results.

Tesla expects to start production of its long-anticipated, next-generation electric vehicle at its Texas factory in the second half of 2025, Chief Executive Elon Musk said on Wednesday. But Tesla shares were down 6.5% in premarket trading as Musk noted that ramping up production of the new vehicle would be challenging and Tesla also warned of sharp slowdown in sales growth this year before the new model launch. Musk said it would take «a tremendous amount of new revolutionary manufacturing technology» required — a sign that any boost to Tesla's declining pace of growth would take time. His projection followed a Reuters story earlier in the day saying Tesla had told suppliers to prepare for a June 2025 startup of a smaller crossover vehicle, critical for the automaker as it loses share to inexpensive EVs such as those made by China's BYD.

Officials say that two U.S.-flagged ships carrying cargo for the Defense and State departments have come under attack off Yemen

China, the world's biggest exporter, says it is deeply concerned about tensions in the Red Sea that have upended global trade by forcing many shippers to avoid the Suez Canal

The Biden administration has proposed banning another type of bank “junk fee,” targeting fees that are typically charged by banks when a transaction is declined in real time

The Bank of Canada held its key overnight interest rate at five per cent for the fourth consecutive time, as inflation remains higher than desired and economic growth has not slowed enough to warrant a cut.

In the ever-dynamic world of cryptocurrency, Bitcoin (BTC) and Ethereum (ETH) continue to navigate through turbulent waters. As of recent developments, Bitcoin, the pioneer and most valued cryptocurrency, experienced a significant downturn, breaching the $40,000 mark and stirring market uncertainty.

Quiver Quantitative — In response to economic challenges and a significant stock market decline, China has announced a strategic reduction in its reserve requirement ratio (RRR) for banks. Set for implementation on February 5, this move aims to inject 1 trillion yuan ($139 billion) of long-term liquidity into the market. This proactive step, unusually announced in advance by the People's Bank of China (PBOC), is part of broader measures to stabilize the economy and financial markets. These efforts include enhanced support for the property sector and deepening financial collaboration with Hong Kong.

PagerDuty, Inc. (NYSE:PD) was cut to Equal Weight from Overweight at Morgan Stanley on Wednesday, with analysts maintaining a $30 per share price target for the stock.

Wall Street’s main regulator is demanding more investor protections for deals involving special purpose acquisition companies, or SPACs, tightening rules on a once-popular pathway for taking firms public. 

₹8,500 crore viability gap funding (VGF) scheme for coal gasification. In another decision, the cabinet committee on economic affairs (CCEA) also approved an equity investment of ₹3,799.64 crore by Coal India Ltd for setting up coal gasification joint ventures with GAIL (India) Ltd and Bharat Heavy Electricals Ltd (BHEL).

₹522 crore during the quarter compared to a loss of ₹2,502 crore in the corresponding quarter last year and ₹6,511 crore in the preceding quarter. The recovery was primarily led by the domestic unit of Tata Steel, which reported a pre-tax, depreciation and interest profit of ₹8,257 crore compared to ₹5,335 crore last year. Meanwhile, Europe reported a loss of ₹2,872 crore before tax, depreciation, interest and exceptional items.

rooftop solar (RTS) power systems on 1 crore houses. With this announcement, Modi has targeted a key pain point in India's solar power journey: slow uptake of RTS systems. In 2015, GoI increased its solar power generation target from 22 GW to 100 GW by 2022.

Investing.com — PACCAR (NASDAQ:PCAR) reported its Q4 results, with EPS of $2.70 coming in better than the consensus estimate of $2.23. Revenue grew 11.6% year-over-year to $9.08 billion, beating the consensus estimate of $8.54B. The company achieved record revenues of $35.13B for the full 2023 year, compared to revenues of $28.82B in 2022.

Ahead of Apple's (NASDAQ:AAPL) earnings release at the beginning of February, analysts at Morgan Stanley said they expect the release «to serve as a clearing event.»

The Bank of Canada held its benchmark interest rate steady at 5.0 per cent on Wednesday and hinted that its tightening cycle might have peaked.

Also Read: A ₹2 trillion cheque is getting ready for the agriculture ministry This budget typically outlines estimates for revenue, expenditure, financial performance, fiscal deficit, and projections. Industry expects believe that anticipations are high that the government will increase welfare spending and potentially aim to decrease the fiscal deficit to 4.5 per cent of the gross domestic product (GDP) by FY26.