Target Financial News

A distillery in southwestern China is aiming to tap a growing taste among young Chinese for whisky in place of the traditional “baijiu” liquor used to toast festive occasions

A Tokyo court has ruled that only the operator of the tsunami-wrecked Fukushima nuclear power plant had to pay damages to dozens of evacuees, relieving the government of responsibility

A panel of judges has blocked a new Tennessee law that would reconfigure the group overseeing professional sports facilities in Nashville by letting state leaders pick six of its 13 board members

The administration of Argentine President Javier Milei says the government won’t renew contracts for more than 5,000 employees hired this year before he took office

Japanese nuclear safety regulators are lifting an operational ban imposed on a plant owned by Tokyo Electric Power Company Holdings, the operator behind the Fukushima disaster

Mahendra Jajoo, CIO, Mirae Asset Management, says “we have to wait till at least June ‘24 to see what we can expect because of the simple reason that now in February, we are not going to have a full year budget, it will be a vote on account. Then when the new government comes and the full year budget is presented in June, July, that is the time we can say if there is an environment building up for a rate cut. I would say for the next six months, first half of 2024, no change in the policy rates, then I think the room opens up if the inflation comes down for a rate cut by the RBI in the second half of 2024.” In June 2023, we all were anticipating or hoping for rate cuts to happen. But then we saw there was geopolitical tension and various triggers and data also that turned it around. And now the rate cut scenario has gone to 2024, maybe six months, eight months down the line depending on the data again. How would you analyse the first six months of 2023? Mahendra Jajoo: As we saw in 2023, things have been very volatile and as you rightly explained, the sentiments have gone from extremely negative to extremely positive and that is also a backdrop which the investors must consider while getting affected by the volatility.

Entitled Solutions, an inclusion platform to make health and financial services accessible to urban low-income workers, has raised $1.3 million (about Rs 10.83 crore) in an extended seed round from SIS, a leading player in the security, facility management and cash logistics segment. In the past three years, Entitled Solutions has enabled affordable financial and health access to about 700,000 low-income workers, including those in the new-age gig economy. The company works on a business-to-business-to-consumer model and integrates with employers and gig service platforms to enable services for the workers associated with them.

₹50,000 were brought under the tax ambit. Money received from life insurance policies with premiums exceeding ₹5 lakhs per year will be taxed as income from other sources. This applies to both individual policies and combined policies with premiums exceeding ₹5 lakhs across multiple policies held by the same person.

stating his rights. This is absolutely shameful, disgusting conduct by those who get paid by us!," PTI official said in a post on X. The video, which is doing rounds on social media shows the former Foreign Minister vehemently objecting to the "illegality" of the police's actions, only to be forcefully pushed into a reinforced police vehicle by Punjab Police.

Despite losing around $2 billion to crypto thefts, 2023 saw a slight decline in hacking incidents targeting the cryptocurrency industry. 

Adani Green Energy Limited (AGEL) announced on Wednesday that it had finalised its 1,050-megawatt joint venture (JV) with TotalEnergies. TotalEnergies has invested about $300 million in the AGEL subsidiary, acquiring a 50% stake in the JV’s projects. In a regulatory filing, Adani Green wrote: "Further to the execution of the joint venture agreement, the company and TotalEnergies owns a 50:50 stake in ARE9L.

Nifty on Wednesday hit a fresh all-time peak of 21,602.50 with banks, auto and metal stocks leading the charge. Notwithstanding the recent upside, Axis Securities said it foresees Nifty to hit 23,000 by December 2024. For the new calendar year 2024, the brokerage firm has picked 9 stocks within the broader themes of manufacturing, PSU banks, NBFCs, IT services, and consumption. The nine stocks recommended by Axis are Pitti Engineering, Sansera Engineering, Archean Chemicals, Amber Enterprises, JK Lakshmi Cement, SBI, Manappuram Finance, Cyient, and Westlife Foodworld. «The fundamentals of Indian corporates have improved significantly and so has the profitability across the board. This can be seen in the cumulative and rolling net profit of the NSE 500 universe for the last 4 quarters (till Q2FY24), which crossed the Rs 12 lakh crore mark. Moreover, after a muted performance for several years, the ROE of the broader market is improving as well. The bolstered balance sheet strength of corporate India and the significantly enhanced health of the Indian banking system are additional positive factors,» Axis said. It sees Nifty earnings growing to post 14% CAGR growth over FY23-26. New year stock picks from Axis:

₹887.95 apiece on the BSE. Emkay Global Financial Services has initiated coverage on Tejas Networks with a ‘Buy’ recommendation and DCF-based target price of ₹1,050 per share, implying 14.3x P/E (Dec-24E).

Joey Jia witnessed the 2020 implosion of short-form video app Quibi and thought: I can do better. Hollywood mogul Jeffrey Katzenberg’s high-profile but short-lived startup charged users $4.99 a month for slick content meant to appeal to a wide user base. Jia, a veteran of Chinese tech companies, says he saw a market in the U.S.

Rajya Sabha heavyweights to take the field, according to a report published by The Times of India. Sources stated that this will lead to open doors for others in Rajya Sabha, however, no final decision has been taken yet. They stated a few prominent faces may also be asked to contest the polls.

₹355.00 apiece on the BSE. In a regulatory filing, Kansai Nerolac Paints said that its board of directors has approved a proposal for monetization of idle land parcels of the company not being put for productive use.

Voltas, part of the household appliance industry, rallied more than 10% in a week to hit a fresh 52-week high last week and chart patterns suggest that the rally may not be over yet. Short-term traders can look to buy the stock now for a possible target above 1,000 levels in the short to medium term, suggest experts. The consumer durable stock rose from Rs 859 as of December 15, 2023 to Rs 947 recorded on 22nd December 2023 which translates into an upside of over 10% in a week. The stock hit a 52-week high of Rs 957 on December 20, 2023. The stock rose more than 11% in a month.

Dunki Box Office collection Day 6: Shah Rukh Khan’s Dunki is maintaining consistent earnings at the Box Office, both domestically and internationally. After the 6th day, the net collection in India stands at ₹139.95 crore. The movie has garnered around ₹256 crore worldwide in Gross Box Office Collection (GBOC) after 5 days.

Buy or sell stocks for today: Carrying buying interest of the weekend sessions, Indian stock market ended higher for third straight session on Tuesday. Nifty 50 index ended 91 points higher at 21,441 levels, BSE Sensex gained 229 points and closed at 71,336 mark whereas Bank Nifty finished 233 points higher at 47,724 levels. However, broad market indices outperformed key benchmark indices.

Red Sea Crisis: US Military forces on December 27 announced that they had shot down over 12 drone missiles launched by Yemen-based Houthi rebels at shipping in the Red Sea, according to Pentagon. "There was no damage to ships in the area or reported injuries," the Pentagon's Central Command said in a social media post, describing a barrage of 12 drones, three anti-ship ballistic missiles and two land-attack missiles over a period of 10 hours.

Nifty 50 set to clock healthy double-digit gains in 2023; what are the key challenges for the market in 2024? Major central banks of the world, including the US Fed and the RBI, are expected to trim interest rates in the coming year. However, the timing and the extent of rate cuts will be the key factors. Furthermore, how central banks evaluate inflation and growth will significantly impact market sentiment.