Target Financial News

Congress leader Rahul Gandhi was issued a show-cause notice by the Election Commission (EC) on Thursday for allegedly targeting Prime Minister Narendra Modi through his remarks wherein he used the words panauti and pickpocket. Gandhi was asked to respond by Saturday night. The former Congress president was the target of an appeal by the ruling Bharatiya Janata Party (BJP), which claimed that the former's use of language was «unbecoming» of a high-ranking official.

Anil Kothuri, MD & CEO, Fedbank Financial Services, says RBI’s intent is to clamp down on unsecured lending which is used to fuel consumption and that is what they seek to moderate and put guardrails around. “The loans that we do are loans for working capital for self-employed customers. To the best of my understanding, that is outside the ambit of the circular that the RBI has recently issued. Almost all the loans that we do in Fedfina qualify for priority sector lending by banks.” In terms of your loan book, I believe, 86% of the portfolio is backed by the assets for the company. Where do you see this target going up? Do you expect this to be at these levels in terms of the secured loan book or could this vary and maybe see a bit of a reduction? We are in business to empower emerging India with easy access to loans. We serve the working capital requirements of the small self-employed customer. We do that against the pledge of gold, mortgage of property and we do unsecured loans too. Our unsecured book is about 14% of the overall portfolio. But it has the lowest behavioural tenor. Unsecured loans get repaid within 30 months as opposed to secured mortgage loans which get repaid in about eight years. Which is why with each passing month, the proportion of secured loans in the portfolio keeps increasing. So, this 14% that you see will keep coming down with the passage of time and we will move to a greater proportion of secured assets in our book.

TMC MP Mahua Moitra, party chief Mamata Banerjee on Thursday said that plans were in the works to expel her from Parliament but any such action would help the lawmaker from Krishnanagar ahead of the 2024 Lok Sabha elections. Last week, Moitra, who is facing recommendations for expulsion from Lok Sabha, was tasked with strengthening the party's organisation in Nadia district, in a clear message of support from the TMC.

Narendra Modi on Thursday and said the Indian cricket team won all matches in the ICC World Cup 2023 except the one that was attended by "sinners". “The Indian team played so well that they won all the matches in the World Cup, except the one attended by the sinners," Mamata Banerjee was quoted by news agency PTI as saying, without naming anyone. Her statement came days after Congress leader Rahul Gandhi for calling PM Modi a “panauti (bad luck)", while speaking at a rally in poll-bound Rajasthan on Tuesday.

Rahul Sharma, Director, JM Financial Services, says “unless and until Bank Nifty does not see a major short covering, we will see this slow, gradual up move to continue in Nifty. Testament to this is the midcap and smallcap indices which have created a new high, Nifty is expected to follow suit. So the broader market is not giving up and that is giving us confidence that eventually the ceiling should be taken out and on an immediate basis, 20,000 is what we are expecting the Nifty to test.” On Nifty, clearly we just touch 19,800 and then we see a fall coming in. What is the view coming in for the benchmark indices? Where can we expect it to sustain above 19800? Is that something we could expect to see going forward as well as now? Today's move could be because of the expiry data that we have and this indicates that probably in a day or two, Nifty should be taking on that ceiling of 19850 odd. The way we are reading things is either we close above the 19850 mark or there is a considerable dip which becomes a buying opportunity.

By Natalie Grover

By Christoph Steitz

Escorts, all other companies under our coverage were largely in line with or beat our estimates," stated the brokerage. Meanwhile, for the auto ancillaries space, the brokerage informed that the companies under its coverage reported revenue, EBITDA, and PAT growth of 12 percent, 18 percent, and 18 percent YoY, respectively, driven by higher ASPs, sales volumes, and operating leverage. “All companies under our coverage reported in-line EBITDA or beat on EBITDA, except a miss for Endurance Technologies and CIE Automotive," added Axis.

London | Oil and gas producers should be spending about half of their annual investment on clean energy projects by 2030 to be aligned with global climate goals, the International Energy Agency has said.

Shifa Hospital, reported Associated Press. The underground bunker is claimed to be used by Hamas military facility. The military escorted journalists in a 150-metre tunnel to discover a series of underground bunkers underneath Shifa Hospital in a shattered Gaza city accompanied by dozens of soldiers.

₹451 apiece to ₹821.40. Despite a subdued start in January with a 4.4% decline, the stock gained momentum from February onward, marking a substantial 30.26% increase. This positive trend has persisted into November, with the stock already registering a 17% uptick this month.

Bharti Airtel, both of which control 78% of India’s mobile market, according to global brokerage firm CLSA. «BUY-rated Reliance Industries holds 67% of RJio and valuation is 60% higher than the 33% stake from the 2020 sale that raised US$20bn. We also expect RJio’s planned IPO to serve as a further catalyst for BUY-rated Bharti stock,» CLSA analyst Deepti Chaturvedi said. The analyst expects Jio's leadership and Bharti's execution to lead the sector to $38 billion annual revenue by FY26.

Fitspire, a vegan and plant-based personal wellness brand has entered into the $17 billion global skincare market by launching plant-based biotin, collagen, and omega products. While the category caters to the burgeoning demand for cruelty-free skin-care products in India, Fitspire said it aims to tap into Indian consumers seeking vegan, natural, clean, and cruelty-free products to support their lifestyle. “The demand for cruelty-free and eco-conscious choices is gaining momentum, and the rise of vegan beauty products has become a phenomenon. Consumers are now embracing products that are manufactured ethically.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Titan has been in the news lately after the Tata Group’s jewellery to eyewear brand crossed the ₹3 lakh crore mark on November 21. Titan’s strong revenue and profit growth in the September quarter and its healthy guidance for the upcoming quarters have kept experts bullish on the stock. Furthermore, rising gold imports, growth potential in the upcoming wedding season as well as its acquisition of an additional stake in its subsidiary CaratLane have added to the gains.

Industry and renewable energy proponents have backed the Albanese government’s expanded Capacity Investment Scheme to help Australia reach the 82 per cent renewable energy target by 2030, but questions remain on how the scheme will work and the financial exposure for taxpayers.

BJP state chief Bandi Sanjay Kumar on Thursday urged the «newcomers» in the party to work together with veterans and seniors to achieve the saffron party's common goals. Kumar, who was recently replaced by Union Minister G Kishan Reddy as Telangana BJP president, without naming anyone, called for the newcomers to sort out differences, if any, through dialogue. The BJP national general secretary, who is a sitting MP, is contesting from the Karimnagar assembly segment for the third time.

Reliance Industries with a target price of Rs 2618. The current market price of Reliance Industries is Rs 2394.65. Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1615882.15 Crore) operating in Diversified sector.

GAIL (India) with a target price of Rs 151. The current market price of GAIL (India) Ltd.

Bharti Airtel with a target price of Rs 1125. The current market price of Bharti Airtel Ltd.

UltraTech Cement Ltd, the country's largest cement manufacturer has seen its share price gain by around 29% in last one year. While the stock is trading near 52-week highs it scaled ,recently analysts see more upside. The strong Cement demand in the country is helping all Cement makers including UltraTech see a good volume growth.