Target Financial News

Investing.com-- Most Asian currencies kept to a tight range on Tuesday, but saw some relief as the dollar was hit with profit-taking before key inflation data that is set to offer more cues on interest rate cuts this year.

Tata Motors, and Jefferies maintained a buy rating on Nippon AMC and HDFC AMC. Jefferies upgrades Mindspace REIT to a buy rating from hold earlier. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Tata Motors Ltd. with a target price of Rs 900.

Investors who missed it earlier now have the opportunity to board the PSU bank bus offering attractive entry points to long term investors. Index returns by 12-stock Nifty PSU Bank is to the tune of 32% over a 1-year period which is higher than 11.36% returns delivered by Nifty Bank and 19.57% by broader Nifty50. Individually, Punjab National Bank (PNB), Central Bank of India and Union Bank of India have given returns of 66%, 62% and 51%. Other including Bank of Maharashtra, Indian Bank, Canara Bank, Indian Overseas Bank (IOB), UCO Bank Bank of India, Bank of Baroda (BoB) and State Bank of India (SBI) have given income of 49% and 4.27% during this period with index heavyweight SBI featuring as the biggest laggard. PSU banks remain beneficiaries of a benign macro with valuations offering comfort, JM Financial said while picking SBI and BoB as its top bet.

Cong prepares for Nyay Yatra, awaits permission to march through Manipur "Mortar shells were used by the militants during the attack on security forces," they said, adding no casualties were reported on either side. According to a report by Hindustan Times, K Minlun Touthang, chairman of unit 8(New Moreh), Hill Tribal Council (HTC) of Moreh said that yesterday the firing happened at three places in New Moreh, Lhangkichoi, and Zion Veng. Militants were posing as security forces and fired at the Kuki villages.

Stock market today: On account of weakness in the global market, the Indian stock market finished lower on Monday. The Nifty 50 index slipped 197 points and closed at 21,513 level, BSE Sensex nosedived 670 points and closed at the 71,355 mark whereas the Bank Nifty index crashed 708 points and finished at 47,450 level. The small-cap index fell 0.36%, outperforming the Nifty 50 index, even as the advance-decline ratio fell sharply to 0.64:1.

By Joey Roulette

Investing.com-- Inflation in Japan’s capital fell as expected in December and was now within spitting distance of the Bank of Japan’s annual target, likely heralding a similar trend from nationwide inflation.

UBS equity strategists lifted S&P 500 price targets today as they have greater confidence that the Federal Reserve can engineer a soft landing.

Federal Reserve Governor Michelle Bowman, who had been one of the central bank's staunchest advocates for tight monetary policy, said Monday she's adjusted her stance somewhat and indicated that interest rate hikes are likely over.

(Reuters) — Federal Reserve Governor Michelle Bowman on Monday said the U.S. central bank's monetary policy appears «sufficiently restrictive» to bring inflation back down to the Fed's 2% target.

UBS’ Solita Marcelli, Chief Investment Officer Americas, weighed in on the markets as stocks and high-quality bonds surged in recent months.

Ashneer Grover has hit back at Bollywood star Ranveer Singh for sharing a photo of Maldives by mistake while joining in the boycott of the island, in a bid to promote Indian counterparts. Retweeting a post of Emmy-winning actor-comedian Vir Das, the former ‘Shark Tank India’ judge took a potshot at the ‘Gully Boy’ star’s general knowledge blunder.

Slatestone Wealth chief market strategist Kenny Polcari says Americans are reconsidering what the CPI report means on 'Making Money.'

New Street Research named NVIDIA (NVDA) as one of its top picks for 2024 in a recent note, noting the total addressable market (TAM) for AI data center chips.

Jefferies upgraded DoorDash, Inc. (NASDAQ:DASH) to a Buy rating (From Hold), raising their 12-month price target on the food delivery platform to $130.00 (From $90.00) after choosing the company as a “Top Pick”, a spot previously held by Uber (NYSE:UBER).

Despite the early negative sentiment among analysts, 2023 was a year of strong gains.

Sri Lanka's navy said Monday it was joining a US-led maritime taskforce to protect international shipping against attacks by Yemen's Huthi rebels. «We will be joining 'Operation Prosperity Guardian' led by the US Navy,» naval spokesman Gayan Wickramasuriya said, with the deployment of a patrol vessel crewed by more than 100 people. Huthi fighters have launched more than 100 drone and missile attacks on targets in Israel and the Red Sea, disrupting traffic in the key shipping route that carries up to 12 percent of global trade. The Iran-backed Huthis say they are targeting Israel and Israeli-linked vessels to push for a stop to the offensive in the Gaza Strip, where Israel has been battling Hamas militants since October 7. Sri Lankan President Ranil Wickremesinghe has said that Huthi attacks had raised freight costs and were impacting exports of garments and tea. The South Asian island nation is emerging from its worst economic crisis in 2022, when months of street protests led to the ouster of then-president Gotabaya Rajapaksa. The country defaulted on its $46 billion external debt and is now being supported by a $2.9 billion four-year bailout loan from the International Monetary Fund. Wickramasuriya said the move would add no additional cost as the vessel was already patrolling Sri Lanka's vast maritime boundary. The US-led maritime force announced late last month includes Britain, Canada, France, Italy, the Netherlands, Norway and other nations. Last month neighbouring India deployed several warships in the Arabian Sea and Gulf of Aden after a string of shipping attacks, including a drone strike near India's coast that the United States blamed on Iran.

The new year witnessed a robust performance by the US dollar, as evidenced by the Dollar Index's 1% gain, reaching the 103 level tested the previous week.

1- Elections likely in April/ May 2024- The general elections are scheduled to be held in a few months from now and remain watched for even though outcome in recent state elections has lead investors to believe that the ruling party may return to power. Also Read-Tata Steel announces Jan 19 as record date to allot shares to TCIL shareholders under scheme of amalgamation 2- The cues from US stock and bond markets- the highlighted point by Morgan Stanley remains important as markets have started factoring rate cuts by March and cues on the same will be watched for by the global markets and Indian markets.

₹3,560 per share in intraday trading on January 8. This surge was prompted by the brokerage firm UBS assigning a 'buy' rating to the stock, accompanied by an upward revision of the target price from ₹3,600 to ₹4,400. This adjustment implies a potential upside of 23 percent from the current levels.