Target Financial News

fiscal deficit target at 5.3% of GDP and keep disinvestment proceeds estimates to below ₹50,000 crore in the interim budget for 2024-25. The fiscal deficit, which is the indication of government borrowing to bridge the gap between total revenue and expenditure, is estimated at 6% of GDP in the current financial year, a tad higher than 5.9% projected in the Budget presented in February, last year.

With investors now firmly expecting the Federal Reserve to start cutting interest rates at some point this spring, Thursday’s CPI inflation report will likely be key in determining the U.S. central bank’s policy moves in the first half of 2024.

Both Morgan Stanley and Bank of America released notes covering Amazon (NASDAQ:AMZN) on Thursday, maintaining their bullish stances on the stock.

Karnataka, a group of six men barged into a lodge room and brutally assaulted a couple for being together despite practising different faiths. Videos of the attack, filmed by the assailants themselves, have surfaced, revealing a disturbing trend of violence against individuals from diverse religious backgrounds. This comes just days after another incident where two cousins were assaulted in the state under similar circumstances. The attackers recorded themselves waiting outside the couple's lodge room in Hanagal Taluk, Haveri District.

Sundararaman Ramamurthy, MD & CEO, BSE, says “whether we accept it or not, every stock exchange, every MII is a fintech. It is dealing with finance and it is a technology company. So the moment you start thinking that you are a fintech in that perspective, you will be innovative, you will be trying to find areas where we need to be continuously on the run. I think not only BSE, everybody in this country needs to be adaptable to changes.” You have completed almost a year. Let us look at the BSE stock price in the last one year. We always say that markets get excited about a change of guard. In this case, magic has happened to your stock in the last one year. There has been a 300% return. Are you feeling happy, excited that shareholders are endorsing your leadership? Sundararaman Ramamurthy: The stock price is a culmination of demand and supply in the market, which comes from what market perceives as what currently is happening and what in future is going to happen. From a stock exchange perspective, it is more like a ladle in a big pot of kheer. The ladle does not know the sweetness of the kheer. The job of the ladle is to distribute it, whether it is sweet or not, the consumers decide.

Maharashtra assembly speaker Rahul Narwekar for recognising Chief Minister Eknath Shinde-led party as the «real» Shiv Sena, claiming the Constitution has been trampled upon by recognising a «gang of thieves». The people of the state will not forgive those behind this, an editorial in the Sena (UBT) mouthpiece 'Saamana' said while also targeting the ruling Bharatiya Janata Party. Addressing a news conference here, Sena (UBT) MP Sanjay Raut claimed Narwekar was entrusted with doing justice, but he acted as Shinde's lawyer.

Reliance Industries, India's largest company by market value, on Thursday rallied another 1% to hit a fresh all-time peak of Rs 2,690.90 on BSE. In the process, RIL's market capitalisation crossed the Rs 18 lakh-crore mark. After underperforming Nifty by 9% in the calendar year 2023, some buying momentum has been seen in RIL shares in the last few days.

Vedanta parent company Vedanta Resources, according to a recent report from brokerage house Nuvama Institutional Equities, removes a significant overhang on Vedanta stock. Vedanta's target valuation should be increased, as supported by the debt restructuring.

Heritage Foods, Bank of India and Sharda Motor Industries. The brokerage believes investors can buy these stocks at current market price and add on dips for a time horizon two to three quarters. Also Read: Day trading guide for stock market today: Six stocks to buy or sell on Thursday — 11th January Heritage Foods has a strong balance sheet with low debt, improving margins and operating cash flows.

Taking cues from the international market, MCX February gold futures were trading in the green, around Rs 62,100 per 10 grams, up Rs 104 or 0.17% from Wednesday's closing price. Meanwhile, March Silver futures were trading at Rs 72,065 per kg, higher by Rs 96 or 0.13%. Track prices here Comex Gold futures were at $2,034 per troy ounce on Thursday, up $6.20 or 0.31% while silver futures were at $23.135, higher by $0.069 or 0.300%. The dollar index (DXY) was trading slightly lower at 102.25 against a basket of six top currencies, down 0.11%.

Small enterprises big on new firm registrations Additionally, 75% of Wholesale and Trader segment MSMEs remained bullish on consumer demand in the current calendar year. Among the Indian cities, Delhi appeared most optimistic where 87% of the surveyed MSMEs anticipated a surge in consumer spending. The survey analysed responses from nearly 3,000 MSMEs from more than 25 cities in India.

HCL Technologies, HSBC maintained a buy on Zomato, Morgan Stanley maintained an overweight rating on Bank of India and Jefferies maintained a buy on Bharti Airtel. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Info Edge Ltd (Naukri), part of the consumer service industry, has been trading above the breakout level of a Cup and Handle pattern on the daily charts. Short-term traders can look to buy the stock for a possible target of 5900 in the next 6-8 weeks, suggest experts. The stock gave a breakout from a Cup and Handle pattern in December 2023. The neckline of the pattern was placed around 4900-5000 levels.

The Nifty future closed positive with gains of 0.49% at 21722 levels on Wednesday. India VIX was down by 2.21% from 13.26 to 12.97 levels. Volatility rose above 14.5 zones during the day but cooled off later and paved the way for the bulls at support zones. On the weekly options front, the maximum Call OI is placed at 21,800 and then towards 22,000 strikes while the maximum Put OI is placed at 21,500 and then towards 21,600 strikes. Call writing is seen at 21800 and then towards 22000 strikes while Put writing is seen at 21500 and then towards 21600 strikes. “Options data suggests a broader trading range in between 21200 to 22000 zones while an immediate trading range in between 21350 to 21750 zones,” Chandan Taparia, Senior Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said. “Nifty formed a small-bodied Bullish candle on the daily frame on Wednesday with a longer lower shadow indicating buying visible at support zones,” he said. “Now the index has to hold above 21550 zones, for an up move towards 21750 then 21850 zones while on the downside support exists at 21450 and 21300 zones,” recommended Taparia.

Heritage Foods with a target price of Rs 355. The current market price of Heritage Foods Ltd.

Bajaj Finance with a target price of Rs 8650. The current market price of Bajaj Finance Ltd.

Bank of India with a target price of Rs 146.0. The current market price of Bank of India is Rs 120.45. Bank of India, incorporated in the year 1906, is a banking company (having a market cap of Rs 53493.85 Crore).

Metro Brands with a target price of Rs 1350. The current market price of Metro Brands Ltd.

Cholamandalam Investment & Finance Company with a target price of Rs 1280. The current market price of Cholamandalam Investment & Finance Company Ltd. is Rs 1231.85 . Cholamandalam Investment & Finance Company Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 100201.57 Crore) operating in NBFC sector.

India Today report, the four men who are reported missing had gone to harvest ginger near the area. The people who are missing have been identified as Oinam Romen Meitei, Ahanthem Dara Meitei, Thoudam Ibomcha Meitei and Thoudam Anand Meitei. According to the report, the firing incident happened between Wangoo in Thoubal district and Kumbi in Bishnupur district.

Stock market today: On account of Reliance Industries Ltd's (RIL) share price hitting a lifetime high on Wednesday, the Indian stock market extended its Tuesday gains and ended higher for yet another session. The Nifty 50 index finished 73 points higher at the 21,618 level, the BSE Sensex surged 271 points and closed at the 71,657 mark whereas the Bank Nifty index gained 118 points and ended at the 47,360 level. The mid-cap index rose less than the Nifty 50 index even as the advance-decline ratio remained positive at 1.10:1.