Target Financial News

₹145.80 apiece on the BSE. Federal Bank registered a 25.3% growth in its net profit for the third quarter of FY24 at ₹1,006.74 crore as compared to ₹803.61 crore in the corresponding quarter of last year. The bank’s net interest income (NII) in Q3FY24 increased 8.5% to ₹2,123.4 crore from ₹1,956.5 crore, YoY.

Budget expectations: India may earmark about 4 trillion rupees ($48 billion) for food and fertiliser subsidies for the next fiscal year, two government sources said, indicating fiscal caution ahead of this year's general election. Food and fertiliser subsidies account for about one-ninth of India's total budget spending of 45 trillion rupees during the current fiscal year that ends on March 31. Also Read: Interim Budget 2024 may see modest expenditure hike as Centre looks to stay on fiscal glide path The Ministry of Consumer Affairs, Food and Public Distribution has estimated next year's food subsidy bill at 2.2 trillion rupees ($26.52 billion), the two sources said. That is 10% higher than a projected outlay of nearly 2 trillion rupees ($24.11 billion) for the current 2023-24 fiscal year.

The Canadian government is publicly naming 85 Chinese research institutions that “may pose” a threat to national security and sensitive research.

Iran's Revolutionary Guard conducted a bold attack on militant bases in Pakistan's Balochistan province on Tuesday, escalating tensions in an already volatile region. The attack, which involved missiles and drones, targeted the Sunni militant group Jaish al-Adl.

Life Insurance Corporation of India (LIC) on Wednesday left State Bank of India (SBI) behind in market capitalisation to become India's most valued PSU stock. LIC shares rallied over 3% to a fresh 52-week high of Rs 919.45 taking its market value above Rs 5.75 lakh crore-mark. On the other hand, SBI's market cap was around Rs 5.65 lakh crore in the morning session. Last month, the finance ministry had exempted the PSU insurer from complying with 25% minimum public shareholding (MPS) norms till 2032.

coronavirus strain, GX_P2V. It resulted in a 100% fatality rate in genetically-modified mice. This strain is a mutation of GX/2017, a virus initially identified in Malaysian pangolins in 2017.

Nuvama Institutional Equities report. L&T Technology Services share price today opened at ₹5,325.05 and touched an intraday high of ₹5,535.60 and an intraday low of ₹5,325.05 apiece on BSE.

Given how excitable financial markets can get at any hint of a policy rate cut, it may seem cheaper credit is all there is to material progress. Monetary policy is a lot more complex than that, though, which is why economists constantly need to explain why over-cheap, free or negatively priced loans are not sustainable, even if they’re extended in crisis times.

BSE on Wednesday, January 17, a day after the company reported its December quarter results. HDFC Bank share price opened at ₹1,583.85 against its previous close of ₹1,678.95 and soon cracked 6.5 per cent to hit the level of ₹1,570. HDFC Bank on Tuesday reported a 33 per cent jump in its net profit at ₹16,372 crore in Q3 of FY24, as compared to ₹12,259 crore a year ago.

US Central Command. The US carried out strikes after Houthi launched an anti-ship ballistic missile from Houthi-controlled areas of Yemen into international shipping lanes in the Southern Red Sea. The strikes on Tuesday, the third against Houthi since a US-led air and naval barrage hit dozens of targets last week and destroyed four missiles that the US Central Command said posed an imminent threat to merchant vessels and Navy ships travelling through the Red Sea and nearby waters, The New York Times reported.

Houthi rebels fired a missile that struck a U.S.-owned ship Monday just off the coast of Yemen in the Gulf of Aden, less than a day after they launched an anti-ship cruise missile toward an American destroyer in the Red Sea. The attack on the Gibraltar Eagle, later claimed by the Houthis, further escalates tensions gripping the Red Sea after American-led strikes on the rebels. The Houthis' attacks have roiled global shipping, amid Israel's war with Hamas in the Gaza Strip, targeting a crucial corridor linking Asian and Mideast energy and cargo shipments to the Suez Canal onward to Europe. The United Kingdom Maritime Trade Operations, which oversees Mideast waters, said Monday's attack happened some 110 miles (177 kilometers) miles southeast of Aden.

Day trading guide for today: Domestic equity benchmarks Sensex and Nifty 50 snapped their five-day winning streak in the previous session on profit booking in shares of select heavyweights, including Reliance Industries, Infosys, TCS and HCL Tech amid weak global cues. The domestic market spent most of the day in negative territory on January 16, but it experienced a brief upswing during the session, pushing the benchmarks to achieve new record highs. However, the indices erased all gains upon closing.

Li Qiang said in Davos, Switzerland. “Last year in 2023, the Chinese economy rebounded and moved upward with an estimated growth of around 5.2%, higher than the ‘around 5%’ target set at the beginning of last year," Li said on Tuesday in his first appearance as China’s No. 2 official at the annual World Economic Forum.

Iran launches strikes on 'terrorist' targets in Iraq, Syria amid escalating regional tensions Describing Iran's attack as "unprovoked violation of its airspace", Pakistan said it “vehemently protest the violation of its sovereignty. It is completely unacceptable and it may have serious consequences". “Pakistan has always said terrorism is a common threat to all countries in the region that requires coordinated action.

Iran-backed Huthi rebels continue despite multiple strikes against them, AFP reported. In an official statement, the US Central Command (CENTCOM) said, “US forces struck and destroyed four Huthi anti-ship ballistic missiles.

As we noted yesterday, Citi still has quite a few of its 5,000 managerial job cuts still to go. It wants to complete these by the end of the first quarter. And it hasn't even started the 15,000 supplementary job cuts that will take it to its 20,000 target. 

BEIJING — Major international investment banks expect China's economy to grow at a slower pace in 2024 than in 2023, according to annual forecasts released in the last few months.

In his first earnings call with analysts, new Morgan Stanley CEO Ted Pick declared his financial advisor bona fides, saying that his family’s roots in the wealth management business balanced his background in investment banking and trading.

The Kobeissi Letter editor-in-chief Adam Kobeissi discusses market expectations for 2024 after the Dow Jones pulled back from a record high on 'Cavuto: Coast to Coast.'

A top Federal Reserve official said he's increasingly confident that inflation will continue falling this year back to the Fed’s 2% target level, after two years of accelerating price spikes that hurt millions of American households

The upside case for the stock market is slowly becoming the base case, according to UBS equity strategists.