Target Financial News

Coal India Ltd (CIL) has kicked off 2024 with a bang. Shares of the mining major hit a new 52-week high for the second consecutive day on Tuesday.Fuelling the optimismis thecompany’s coal production and offtake numbers for April-Decemberreleased late Monday. Production rose 11% year-on-year to 531.9milliontonnes(mt)during theperiod, while offtakewas up 9% at 552mt.This drove CIL’s stock to a fresh 52-week highof ₹394.65apiece.

Dec 31 last year as against 7.51 crore ITRs filed up to Dec 31, 2022. This is 9 percent more than the total ITRs filed for A.Y. 2022-23, the ministry of finance released in a press release.

Anand Ramanathan, Partner, Consumer Industry Leader, Consulting, Deloitte India, says “we are seeing green shoots in rural India and retail today in India is still about two-thirds of it is food and groceries. So, food will be one of those big categories. But beyond that, while the overall retail market is expected to double by 2030, we have some categories like luxury, for example, which will grow at about 5x. We will have e-commerce grow at about 4x compared to the overall market at about 2x and hence these will be categories or segments that will grow faster than the rest of the market.” One of the key points which caught my attention from your latest write-up is that upcoming elections could actually inject a lot more liquidity in the hands of people, especially in tier II, tier III and the rural side and that could boost sales of consumer items. What category of consumption are we talking about here and what is your hypothesis? Anand Ramanathan: Yes, indeed, we will see high retail growth in 2024. We expect it to be about 10% to 13% and this is largely driven by an uptick in rural demand too. Urban demand had picked up, but we are seeing green shoots in rural India and retail today in India is still about two-thirds of it is food and groceries. So, food will be one of those big categories.

Pee Safe, a hygiene and wellness brand, said only less than a third of women in India use or have access to female and intimate hygiene products such as sanitary pads, tampons, menstrual cups and vaginal wash among other period related products, indicating the potential market as well as the need to raise awareness about such products. With feminine hygiene penetration lower than 30% in India, a host of companies have entered the segment historically dominated by P&G and J&J. While they have a significant presence in India, the challenges are also equally massive in increasing market penetration due to limited awareness about feminine hygiene and low purchasing power of a significant portion of the Indian women populace.

Stock market today: DCB Bank shares have been in uptrend since December 2023. After bottoming out at around ₹113 apiece levels in December 2023, this banking stock has remained an ideal buy on dips stock for stock market investors. In last one month, DCB Bank share price has risen from around ₹113 to ₹150 apiece levels on NSE, delivering to the tune of 28 per cent return to its positional shareholders.

Coal India with gains of more than 3% scaled 52-week highs in the intraday trades on Tuesday, on a day when benchmark indices were down 0.7%. The investor confidence on Coal India has been boosted by rising production. The December Volume numbers reported by Coal India held testimony and indicated towards strong volume momentum continuing Coal India’s production at 71.9 million tons during December 2023 was up 8.3% year-on-year.

Anish Tawakley, Deputy CIO - Equity, ICICI Prudential AMC believes the froth is overdone in the mid-cap and small-cap spaces and he recommends booking profits and switching to large caps. In an interview with Mint, Tawakley also said that the performance of the Indian market will be driven more by earnings growth and earnings outlook, than by small moves by the Fed. Edited excerpts: Market performance was good in 2023 because the economic outlook has turned positive.

Eicher Motors fell 3% to Rs 3,908 in Tuesday's trade on BSE after the Royal Enfield maker announced a 7% month-on-month (MoM) decline in its two-wheeler sales in December. During the month, the company sold 63,387 units, lower than in December 2022 when the company sold 68,400 units, Eicher Motors said in an exchange filing. Meanwhile, Eicher Motors sold 55,401 units of models with engine capacity up to 350cc, down 10% as compared to 61,223 units in December last year.

Here’s the trading strategy from Sheersham Gupta, Director and Senior Technical Analyst at Rupeezy: Tata Chemicals — Inverted Head and Shoulder Breakout Tata Chemicals had been consolidating in the range of 900 and 1150 for the past two years. But last week, the stock saw fresh momentum to cross its 50-day Moving Average (DMA). 1100 was a short-term resistance for the stock which was broken with good volumes.

Stock market today: Extending its rally for third day in a row, Yes Bank share price today climbed to a new 52-week high of ₹23.70 per share during early morning deals on Tuesday. Yes Bank shares today opened flat at ₹22.70 apiece levels on NSE but it soon gathered upside momentum and climbed to intraday high of ₹23.70 apiece levels, logging intraday gain of over 4 per cent.

₹167.55 against the previous close of ₹166.30 and fell 5 per cent to the level of ₹158.05 on the BSE. Around 10:45 am, the stock was 3.94 per cent down at ₹159.75. Kotak Institutional Equities has downgraded the stock of GAIL (India) to a 'sell' from a 'reduce' while raising the target price (fair value) to ₹125 from ₹120 due to the strong gain of the stock last year.

Also Read- Top 7 investment trends to look out for 2024 Another reason for Jefferies expecting on market scaling new highs is that they expect improvement in foreign inflows during 2024. Key triggers for Foreign Portfolio Investor flow as per Jefferies will be peaking Dollar, May'2024 general elections and rising significance of India in global markets.

Mint digs deeper into the issue. Virtual digital assets or cryptocurrencies are based on blockchain technologies, exist on decentralised networks, and are anonymous at the point of creation. This allows them to be outside the control of governments and centralised authorities.

Vladimir Putin on Monday after an unprecedented Ukrainian attack over the weekend on the Russian city of Belgorod that killed 25 people including five children. This came after Moscow launched a large-scale attack on Ukrainian cities. Kyiv also said Russia had targeted the country with a "record" number of drones on New Year's Day, AFP reported.

Day trading guide for today: on account of late selling in Indian stock market on Monday, key benchmark indices of Dalal Street pare most of its intrada gains on first trade session of 2024. Nifty 50 index ended 10 points higher at 21,741 levels. BSE Sensex added 31 points and closed at 72,271 mark whereas Nifty Bank index went off 57 points and finished at 48,234 levels.

Buy or sell stocks for today: Due to late sell-off in Indian stock market on first trade session of 2024, key benchmark indices of Dalal Street pare most of its intrada gains on Monday. Nifty 50 index ended 10 points higher at 21,741 levels.

private sector life insurer is set for a market debut after a gap of six years. IndiaFirst Life Insurance received approval for an initial public offering from the capital markets regulator Sebi in March last year and aims to float the issue by March. The company is meeting investors to gauge the market sentiment. Life insurers are becoming a hard sell after the withdrawal of several tax benefits and the poor post-listing show by the biggest player, the state-owned Life Insurance Corporation. Promoters Bank of Baroda and Union Bank of India are likely to sell a part of their holdings in the IPO. «It has received final observations from Sebi in March 2023,» said a source.

NEW DELHI : The government on Sunday named former vice chairman of Niti Aayog and Columbia University professor Arvind Panagariya as the chairman of the Sixteenth Finance Commission (SFC), a constitutional body. Mint takes a look at what to expect from the SFC. Finance commissions are independent constitutional bodies with a key role to play in the division of the Centre’s net tax proceeds between Central and state governments keeping in mind the fiscal needs of the states.

horror sensation "Five Nights at Freddy’s," directed by Emma Tammi, shook the box office in 2023, becoming Blumhouse Productions' highest global earner. The live-action adaptation of Scott Cawthon’s renowned video game series garnered immense popularity, leaving fans eager for more frights. Now, the question looms: will «Five Nights at Freddy’s 2» emerge to haunt audiences?

Arvind Panagariya, the 16th Finance Commission has its work cut out. It has to address these structural imbalances. Also, it has to contend with increased funding needs for the provision of national level public goods, such as meeting net-zero emission targets.

Nifty 50 settled at 21,741.90, up 11 points, or 0.05 per cent. The BSE Midcap index hit its fresh all-time high of 37,171.97 while the BSE smallcap index touched its all-time high of 43,094.79 during the session. After the robust gains in the last two months on expectations of rate cuts in light of favourable macros, the market is expected to see some consolidation due to rich valuations.