Target Financial News

Vinayak Chatterjee, The Infravision Foundation, says “Power generation, energy storage and construction companies that are well run are still attractive. People in the cables, insulators, smart meter businesses which supply goods and services to the electricity distribution market are worth careful scrutiny. In the power sector, in the next 5 to 8 years, India is going to see a rising trajectory of increasing power rates. All generating companies, whether in thermal or in renewables are actually going to see a long period of very attractive profitability. So power generation companies certainly would be my priority for today's discussion.” Since there are so many ancillaries of the larger infrastructure story that you track, l Let me start off with power demand because in the last eight months have seen a very, very robust 8% kind of growth. With the kind of GDP figures and PMI figure coming in. do you expect the fiscal year energy demand to show double digit growth? High single digit or double digit growth is well spoken for. Everybody who is tracking the power sector has figured out that some interesting dimensions are happening in the market. One, as you rightly said, the domestic consumption across all sectors is growing very, very favourably. Now added to that is the fact that there has been a conscious slowdown in the addition of fresh thermal capacity in the last few years, with the expectation that renewables would kind of fill the space.

HDFC Bank Ltd, State Bank of India. Dabur India Ltd, Zee Entertainment Enterprises, Life Insurance Corporation of India, HDFC Life Insurance Company, Bandhan Bank State Bank of India (SBI) , the Public Sector Banking and Financial services company remains among top picks of Centrum with target price of ₹665 indicating more than 9% upside for the stock from current market price of close to ₹608. As per Centrum Broking after many years of low credit growth and rising NPAs (non performing assets) and write-offs and provisioning, SBI now is coming out of its shadows and showing growth.

(Reuters) -Ratings agency Moody's (NYSE:MCO) on Tuesday cut its outlook on China's government credit ratings to negative from stable, citing lower medium-term economic growth and risks from a major correction in the country's vast property sector.

FRANKFURT (Reuters) — The European Central Bank can take further interest rate hikes off the table given a «remarkable» fall in inflation and policymakers should not guide for rates to remain steady through mid-2024, ECB board member Isabel Schnabel told Reuters.

The S&P 500 is having an incredible year. The benchmark U.S. stock market index is up 19.7% on the year as bulls test the resistance around 4600.

PARIS (Reuters) — Airbus delivered 64 aircraft in November, down 6% from the same month of 2022, to bring the total so far this year to 623 units, industry sources said.

Investing.com — European stock markets traded in a mixed fashion Tuesday, as investors awaited more regional economic data while assessing the outlook for central bank interest rate cuts. 

IRCTC share price: Shares of Indian Railway Catering and Tourism Corporation or IRCTC today gave fresh technical breakout at ₹720 apiece levels while climbing to intraday high of ₹728.95 per share on NSE. However, profit booking soon triggered and IRCTC shares retraced from today's high and touched intraday low of ₹709.05 apiece in mid session during Tuesday deals. According to stock market experts, IRCTC share price is in uptrend and it has formed strong base at ₹700 apiece levels.

ICICI Bank, one of the largest private sector banks in India, gained 2.28% in today's trade, setting a new record high of ₹1,013.85 apiece. The stock's previous peak was recorded in July 2023 at ₹1,008.70. According to the latest data from BSE, ICICI Bank is currently ranked as the fourth most valued Indian listed firm.

Varun Beverages' target price by almost 11% and believes that the stock could rise by more than 10% from its closing price of ₹1,070 on Monday, December 4. Following a visit by the brokerage to the Varun Beverages plant in Nuh, Gurgaon, the brokerage house stated in its report that it will essentially stick to its estimates for CY24–25 and reiterate 'Accumulate' with a higher target price of ₹1,180 from ₹1,065 as it assigns 48x (from 45x) CY25E P/E, given a roll-forward and 45% increase in capacity over CY22.

Stock market today: Shares of Cupid Ltd are one of the multibagger stocks that Indian stock market has delivered in 2023. In year-to-date (YTD) time, tghis multibagger stock has risen to the tune of 250 per cent. However, it seems that the pharma stock has still some steam left.

“The outlook change reflects increased risks in China related to structurally, persistently lower medium-term economic growth,” Moody’s said. The agency affirmed China's overall rating at 'A1'. The agency expects China’s property sector to remain smaller in proportion to the entire economy than it was before the property correction which began in 2021. Moody’s now expects China’s annual GDP growth to be at 4 per cent in 2024 and 2025 and at an average of 3.8 per cent between 2026 and 2030.

By Shaloo Shrivastava

South Korea’s five biggest crypto exchanges will team up with financial regulators to search for “undeclared crypto operators.”

Lakhbir Singh Rode, who was allegedly involved in the 1985 bombing of the Air India jet Kanishka, has passed away in Pakistan due to a heart attack. The news of his demise was confirmed by his brother, Jasbir Singh Rode, who is also a former Akal Takht Jathedar.

The S&P BSE Sensex rose nearly 1,400 points, while the Nifty50 rose to a fresh record high above 20,700 levels on Monday. The Nifty future closed positive with gains of over 2% at 20,804 levels on Monday. India VIX was up by 4.95% from 12.38 to 12.99 levels.

By Stella Qiu

Investing.com-- The Reserve Bank of Australia kept interest rates on hold as expected on Tuesday, citing the need for more macroeconomic data to spur another rate decision, but warned that risks from high inflation still remained in play. 

Investing.com-- Most Asian stocks fell on Tuesday, seeing some profit taking after rallying sharply through November on expectations of a less hawkish Federal Reserve, while a string of weak economic readings from across the region also dented sentiment. 

By Leika Kihara and Takahiko Wada

inflation pressures in the United States decreased in October compared to the preceding month. The Multivariate Core Trend (MCT) inflation gauge, disclosed by the bank, revealed a reading of 2.6 percent for October, down from September's 2.88 percent. The bank attributed the higher MCT level, compared to its pre-pandemic average, to specific trends in housing and non-housing services.