Target Financial News

By Riyank Arora

Nifty may hit a target of 22,584 in the next 12 months even as the market manoeuvres through headwinds like US interest rates, El Nino's impact on crops and inflation, volatile crude prices and the election year in India, Prabhudas Lilladher said in a note on Wednesday. The brokerage remains positive on auto, banks, capital goods, hospitals, and discretionary consumption and picks Max Healthcare, Hindalco Industries, Eris Lifesciences and Sunteck Realty as its conviction buys. As its contra picks, Prabhudas has added Kajaria Ceramics and Restaurant Brands Asia while removing SBI, Carborundum, Chalet Hotels and Crompton Greaves Consumer Electricals. The broking firm has also raised its target price on Maruti Suzuki, Ceat, Aarti Industries, Axis Bank, ICICI Bank, Supreme Industries, Voltamp Transformers, RR Kabel, Fortis, Max Healthcare Institute, Jindal Stainless, IPCA and Lupin.

international workforce would be an Indian. The MEA secretary addressed the third edition of the Spain-India Forum in New Delhi on Wednesday. Underscoring the migration mobility agreement, he said, «Within a decade or so, every third or every second youth out of ten in the international workforce would be an Indian. So here what I'm directly referring to is the migration mobility agreement, which we are struggling for the Spanish government to consider.» India has signed the migration mobility agreement with Portugal, the UK, Germany, Italy and Austria. Furthermore, Verma said, «Austria is supposed to be one of the most difficult countries to deal with on migration issues. So if we can do it with several other countries, I think it's Spain.

IFGL Refractories surged almost 8 percent on Wednesday, extending gains for the fourth straight session to hit a new high on the back of robust September quarter (Q2FY24) earnings. The stock rose as much as 7.8 percent to its record high of ₹874 in intraday deals today. It has now soared 344 percent from its 52-week low of ₹196, hit on March 28, 2023.

Also Read: Stocks to buy: Hindustan Aeronautics, Bharat Dynamics among top defence stock picks by Choice Broking “We believe the sector should be looked as stock specific now considering runup in some stocks as well as growth concern in some stocks due to book to bill below 2.2x. We maintain PNC Infratech as our top pick, followed by HG Infra Engineering and NCC. We see limited upside potential in GR Infraprojects, KNR Constructions and Ahluwalia Contracts (India)," Phillip Capital said.

Brett Blundy, the billionaire chairman of Lovisa, says he will not buckle to investor concerns over excessive remuneration, after shareholders voted against the jewellery chain’s pay report for a third year running.

Ford Motor Co. is resuming construction on a Michigan electric vehicle battery plant that the company postponed two months ago during a strike by the United Auto Workers union

Federal Reserve officials concluded earlier this month that inflation was steadily falling and agreed to closely monitor incoming data to ensure that the pace of price increases would continue slowing toward their 2% target, according to the minutes of...

Britain’s Conservative government will try to win favor with voters by cutting taxes but avoiding worsening inflation in a budget statement

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, suggested that the economy appears to be on what he calls the “golden path,” another term for what economists often term a “soft landing,” in which the Fed would curb inflation without ...

Read here: Q2 Results: Godrej Consumer, ITC, Dabur, Tata Consumer among top analyst picks After strong revenue growth momentum in FY22 and FY23, Axis believes IT services may face challenges on demand and margin fronts on account of the economic slowdown and macroeconomic uncertainties. It has a skeptical near-term outlook for North America (40 percent of revenue). It further pointed out that deal wins remained resilient even during the difficult times, which gives us confidence that automation spending will rebound strongly in two to three quarters.

Coal India share price has surged significantly in the calendar year 2023 yet experts and brokerage firms anticipate further double-digit gains, indicating that the stock's momentum is expected to continue. As of the November 21 close, Coal India share price has jumped 48.4 per cent this year, strongly outperforming the equity benchmark Sensex which has gained just 8.4 per cent in the same period.

Jefferies has upgraded Coal India (CIL) to buy following an investors call by the company on Tuesday. The US-based brokerage's optimism stems from the company's focus on volume growth, transformation in its coal evacuation infrastructure and employee reduction cost among other things. The stock was trading at Rs 333.50 on the NSE on Wednesday around 10:40 am, down by Rs 0.70 or 0.21% from the Tuesday closing price. Jefferies said in a note that Coal India's volume growth trajectory has improved and will likely sustain amid India's strong economic growth outlook and rising power consumption.

Singapore's Temasek Holdings warned that scammers are allegedly trying to sell financial investment products or instruments to unsuspecting individuals while posing as agents of the firm's office in Shenzhen, China.

Nifty was trading range-bound with a marginal positive bias on Wednesday. Nifty faces substantial resistance in the range of 19800-19900, and a breakthrough of these levels could trigger a swift upward movement, prompting an unwinding on the call side and potentially propelling the Nifty to the 20000–20200 zone, said Ameya Ranadive of Choice Broking. Options data reveal maximum open interest on the put side at the 19,700 strike, serving as a pivotal support for the index. Conversely, significant call writing is observed at the 19,900 strike, with additional resistance levels at 20,300 and 20,400 strikes. We spoke to Sudeep Shah of SBI Securities on how one should trade stocks that were in focus in the previous trading sessions based on derivative and technical data: Long build-up in Titan Considering the daily chart, the stock has given downward sloping trendline resistance breakout on November 16.

₹600.77 crore via the issuance of fresh equity shares, whereas existing shareholders and promoters will offload 35,161,723 shares, aggregating to ₹492.26 crore. The total size of the IPO was ₹1,092.26 crore. The price band for the offer has been fixed at ₹133–140 per equity share with a face value of ₹10 each.

U.S. fighter aircraft struck two Hezbollah operations centers in Iraq in response to attacks on U.S. bases that have escalated alongside Israel's operations against Hamas in Gaza, two defense officials said. They said attacks on U.S.

The Nifty future closed negative with losses of 0.45% at 19840 levels on Tuesday. India VIX was up by 0.68% from 12.14 to 12.23 levels.

Carbon-free electricity has never been more plentiful. Wind and solar power have taken off over the past two decades, faster than experts ever expected.

Westlife Foodworld with a target price of Rs 1000. The current market price of Westlife Foodworld is Rs 873.25. Westlife Foodworld Ltd., incorporated in the year 1982, is a Mid Cap company (having a market cap of Rs 13612.45 Crore) operating in Tourism & Hospitality sector.

Polycab India and KEI Industries. JPMorgan maintained an overweight rating on RIL and Morgan Stanley has an underweight rating on IGL. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Goldman Sachs on Polycab India and KEI Industries: Buy Goldman Sachs initiated coverage with a buy rating on Polycab India and a target of Rs 5750 while on KEI Industries it has kept a target of Rs 2730. Both companies are in a prime position to benefit from the nation's infrastructure push.