Target Financial News

RBI) Monetary Policy Committee (MPC) is scheduled to commence its three-day policy meeting on December 6, with the outcome due on December 8. Similarly, the US Federal Reserve is set to announce its policy outcome on December 13. Both the US Fed and the RBI are expected to maintain interest rates at the current level since inflation is easing and growth remains resilient.

CIL has already begun actions to fulfil all resources needed to achieve one billion tonnes of annual production target, Parliament was informed on Monday. In reply to a question in the Rajya Sabha, Coal and Mines Minister Pralhad Joshi said that Coal India (CIL) is expected to achieve the production of one billion tonnes by 2025-26.

Rahul Sharma, Director, JM Financial Services, says “it is better to look at relative setups, stocks and sectors which have not participated in the last few days of rally. So relative setups become the go-to trade at this point in time. Do not chase the ones which have already done well and are already topping the charts on long term time frames. The best thing to do is something like banking, which is still away from its life high.” I remember the note which you had put out at JM quite ahead of the curve. You had it spot on. Such a big gap and it is not even giving any fresh buyers an opportunity. There is not a single pullback on an intraday at least till 12 noon. I mean, what do the traders do? They will have to play, chase the stocks. What are you recommending to your clients? There are three things happening here. One is the market was very light in terms of the long positioning. In fact, on the way up in the last week it was primarily a short covering rally. We saw both the indices Nifty, Bank Nifty, OI shedding by 15% week on week. We saw index components lose as much as one third of their open interest in a week. It was supposed to be the breakout that we all were expecting. Now what has happened is we have seen a short covering. Longs are very light. FIIs still have some residual shorts which means that a lot of people have missed out on this rally.

Newgen Software Technologies share price rallied over 4% on Monday after foreign brokerage firm Jefferies raised target price on the stock. Newgen Software shares gained as much as 4.16% to ₹1,474.00 apiece on the BSE. Jefferies maintained a ‘Buy’ rating on Newgen Software Technologies and raised the target price to ₹1,740 per share, based on 35x PE, implying a PEG of 1.3x, from earlier ₹1,275.

Khan Younis, where tens of thousands of displaced Palestinians have sought refuge in recent weeks, as it widened its ground offensive and bombarded targets across the Gaza Strip. The expanded offensive, following the collapse of a weeklong cease-fire, is aimed at eliminating Gaza's Hamas rulers, whose Oct. 7 attack into Israel triggered the deadliest Israeli-Palestinian violence in decades.

Mayur Milak, Senior V-P- Auto & Aviation, Asian Markets Securities, says “Q3 is one of the best quarters for the aviation industry. If I look at IndiGo, we have just seen the correction in ATF prices at the beginning of December as well. Now, if I just compare this quarter's fuel cost vis-à-vis the earlier quarter, they are up by about 10%, maybe but your fares are up by almost 20%. So, it clearly gives a very strong edge on profitability.” Let us look at this question purely from the standpoint of somebody who wants to say, okay, I went on a booking portal and prices have been exorbitant. I went on a hotel website, prices were sky high. Now, as a customer, I may be feeling a pinch but as an investor, is it time to say buy some of these travel platform companies, aviation stocks or hotel stocks? Clearly, yes. Q3 is one of the best quarters for the aviation industry. If I look at IndiGo, we have just seen the correction in ATF prices at the beginning of December as well. Now, if I just compare this quarter's fuel cost vis-à-vis the earlier quarter, they are up by about 10%, maybe but your fares are up by almost 20%. So, it clearly gives a very strong edge on profitability. And with the kind of scenario pricing power that these guys are sitting on at this point, clearly a very strong buy.

Varanasi, Surat and Visakhapatnam for running its pilot project under the Growth Hubs programme, minister of state for planning Rao Inderjit Singh said in response to a question in Rajya Sabha on Monday. “The Growth Hubs programme is an initiative to develop city regions in a planned manner in order to achieve the economic target of making India a $30 trillion economy by 2047 under its Viksit Bharat plan,” he said. “The Growth Hubs programme aims to develop a template for devising economic growth strategy for identified city regions across the country and prepare a roadmap for achieving the same which inter alia includes identification of key growth drivers, enablers and interventions,” he added. According to the minister, the city regions have been defined as a group of districts which are economically and socially adjacent, related, or co-dependent and the cities have been selected based on the criteria of geographic spread, size and scale. “Given the scale of the project, an institutional mechanism has been put in place wherein a National Steering committee chaired by CEO, NITI Aayog has been set-up involving officials from ministry of housing and urban affairs (MoHUA) and domain experts,” he said. “In addition, each state (Andhra Pradesh, Gujarat, Maharashtra and Uttar Pradesh) has constituted a steering committee for strategic interventions and overall monitoring under the chairmanship of chief secretary,” he said, adding that states have also constituted designated cells for operational matters. “A statement of intent has been signed by NITI Aayog with Institute of Sustainability, Employment and Growth ( ISEG ) Foundation and World Resources Institute (WRI) India for the project,” he said. Commenting on the

The annual U.N. climate talks are nearly two weeks of delegates meeting

The United States has taken action to reduce methane emissions from oil and natural gas production

A survey shows most business economists think the U.S. economy could avoid a recession next year, even if the job market ends up weakening under pressure brought by high interest rates

The U.S. military says three commercial ships in the Red Sea were struck by ballistic missiles fired from Houthi-controlled Yemen, and a U.S. warship shot down three drones in self-defense during the hourslong assault

Inflation is slowing steadily, but it’s too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair Jerome Powell said

Americans could have a harder time finding electric vehicles that qualify for a full $7,500 federal tax credit under new rules being proposed

By Ludwig Burger and Noele Illien

Bharatiya Janata Party (BJP) on Monday, December 4 alleged that Congress MP and leader of opposition Adhir Ranjan Chowdhury leaked the Ethics Committee report on Trinamool Congress MP Mahua Moitra before its tabled. The report was scheduled to be tabled after 12 pm today. While Congress MP Shashi Tharoor claimed that the report was skipped when they laid papers on the table.

Bharatiya Janata Party (BJP) registered victories across three major states, fuelling hopes that the country will see a stable government after the General Elections 2024. India's economic growth outlook is strong and if the current government continues after the Lok Sabha elections next year, it may give a strong impetus to market sentiment.

Kewal Kiran Clothing as the shares delivered a phenomenal return. The shares, which were priced at ₹153.30 apiece three years ago, have seen a meteoric rise of 417% to trade at the current market price of ₹792. If an investor invested ₹1 lakh in the shares at that time and remained invested until the present day, the wealth would have grown to a staggering ₹5.16 lakh.

BJP retained Madhya Pradesh and wrested Chhattisgarh and Rajasthan from the Congress in the state Assembly elections on Sunday, equity bulls found another reason to celebrate on Monday, with the Sensex zooming over 1,100 points. Both Sensex and Nifty are now at all-time high levels, with bulls gunning for newer peaks ahead of the Lok Sabha elections next year. The landslide victory for Street favourite BJP is not only seen as a validation of a favourable outcome in next year's poll but may also help the ruling party keep populism under check.

BSE share price has jumped more than 360% so far in 2023, giving multibagger returns to investors. The stock surged over 3% to hit a fresh 52-week high of ₹2,595.00 apiece on Monday, extending gains for the seventh straight day. Despite a stellar rally, BSE shares have more than 25% upside potential as the exchange is expected to deliver robust earnings on the back of increasing volumes in equity derivatives, according to brokerage firm Sharekhan.

DOMS Industries IPO: The initial public offering (IPO) of DOMS Industries Limited is going to create history on 13th December 2023. As T+3 listing has become mandatory from 1st december 2023, DOMS Industries IPO will be the first mainboard IPO that is going to hit primary markets in this month. DOMS Industries IPO will open on 13th December 2023 and it will remain open for bidding till 15th December 2023.

Bharat Heavy Electricals Ltd (BHEL) has already secured 3GW of thermal orders in H1FY24, according to a recent report from domestic brokerage Nuvama Institutional Equities. An additional 7.4GW of thermal orders are presently being tendered for (awards by Q4FY24/Q1FY25).