Target Financial News

The holiday season is here, which means spending time with family on Thanksgiving and also, for millions of people, hunting for the best deals on Black Friday

Emissions Gap Report from the UN Environment Programme (UNEP) finds that current pledges under the Paris Agreement put the world on track for a 2.5-2.9 degrees Celsius temperature rise above pre-industrial levels this century, pointing to the urgent need for increased climate action. Released ahead of the 2023 climate summit in Dubai, the Emissions Gap Report 2023: Broken Record — Temperatures hit new highs, yet world fails to cut emissions (again), finds that global low-carbon transformations are needed to deliver cuts to predicted 2030 greenhouse gas emissions of 28 per cent for a two-degree pathway and 42 per cent for a 1.5-degree pathway. «We know it is still possible to make the 1.5 degree limit a reality. It requires tearing out the poisoned root of the climate crisis: fossil fuels.

Bank of India (Sidbi) and The National Small Industries Corporation (NSIC) will back Sorin Investments, the startup fund owned by Sanjay Nayar, the former head of private equity firm KKR India, in a major sign of confidence for the veteran banker and deal maker. Both Sidbi and the ₹10,000-crore Self Reliant India (SRI) Fund, owned by NSIC Venture Capital Fund (NVCFL), a 100% subsidiary of NSIC, will invest about ₹300 crore into Sorin, said multiple people aware of the development. The fresh investments will help Sorin close its maiden fund at ₹1,300 crore.

general elections in May. “Post-elections, we expect investment growth to re-accelerate, especially from the private side. While we expect the government to continue its focus on capital spending, given the medium-term fiscal consolidation path, the rate of growth in capex will likely decrease from the next fiscal year," it added.

U.K. Treasury chief Jeremy Hunt says the government can afford to lower some taxes now that inflation is falling

Yemen's Iran-backed Houthi rebels have seized an Israeli-linked ship in a crucial Red Sea shipping route and taken the 25-member crew hostage

Americans can order four free COVID-19 tests again online

Senator Elizabeth Warren has highlighted the dangers posed by cryptocurrency scams targeting seniors, receiving support from a cybersecurity expert who endorsed her digital asset legislation as a preventive measure against future scams.

United Spirits Ltd (USL), a case that may determine the stock market regulator’s power to intervene in a takeover after the open offer has concluded. The apex court website showed that Sebi filed the petition in October, and a bench will be allotted soon. A verdict will decide whether shareholders who exited USL through an open offer in late 2012 and early 2013, when Diageo took over the company, deserved a better price.

₹5,600 crore to procure 800,000 tonnes at the MSP of ₹7,000 crore per quintal and ₹2,400 crore for 400,000 tonnes of masur at ₹6,000 a quintal MSP. However, the procurement expenses may be over and above this, the official added.

NEW DELHI : JSW One Platforms Ltd, the tech venture of the JSW Group, aims to achieve break-even within two years, after having quadrupled its gross merchandise value (GMV) since last year, said chief executive Gaurav Sachdeva. “So, we will break-even...somewhere closer to FY26. When we say break-even, it is not Ebitda (earnings before interest, taxes, depreciation, and amortization) break-even, but PBT (profit before tax) break-even.

NEW DELHI : Spanish transport firms are interested in building high-speed railway networks in India, said the country’s ambassador Jose Maria Ridao Dominguez in an interview with Mint. Spain, which has the second largest network of high-speed trains in the world after China according to Dominguez, is interested in exploring the sector for its private sector companies. He mentioned Talgo, a Spanish manufacturer of high speed passenger trains, as an interested party in the high-speed rail sector. Besides this, defence is a key focus for Spain, Dominguez said.

₹10 trillion for capex in FY24, a 37% rise from last fiscal. In FY23 and FY22, capex budgets were increased by 24% and 40%, respectively. However, infrastructure ministries including roads and railways have already used up more than 60% of their allocated capital, and are on course to finish the rest by January.

UN said Monday, urging G20 nations to boost emissions cuts. The UN Environment Programme's annual Emissions Gap report is released just ahead of crucial COP28 climate talks in Dubai and will feed into the global response to a sobering official «stocktake» of the failure to curb warming so far. With this year expected to be the hottest in human history, UNEP said «the world is witnessing a disturbing acceleration in the number, speed and scale of broken climate records». Taking into account countries' carbon-cutting plans, UNEP warned that the planet is on a path for disastrous heating of between 2.5C and 2.9C by 2100.

Sectorally, buying was seen in IT, telecom, healthcare and public sector stocks while selling was seen in auto, utilities, capital goods, and FMCG stocks. Stocks that were in focus on Monday include names like Tata Investment Corporation which was up more than 15% to hit a fresh record high, Mankind Pharma rose nearly 5% and ITI Ltd closed with gains of more than 7% to hit a fresh 52-week high. We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view: Here’s what analyst Ankit Choudhary Co-Founder, Financial Independence Services, SEBI Registered Investment Advisors (Registration Number — INA100008939) has to say: ITI We had mentioned the re-rating of ITI when it launched its laptop and PC range under the brand name of Smash to compete against DELL, Acer and Lenovo in September. It was trading around 177 and then in October we advised existing investors to hold this stock with a stop loss of 184 as it was on the verge of giving a Pole & Flag pattern breakout above 230. The stock has seen an ATH of 337 on 18th Oct and is consolidating in a range.

The EUR/USD pair is likely to be among the more active currency pairs this week, which I am expecting to potentially rise to the 1.10 handle amid improved risk sentiment and recent falls in US yields and the US dollar. Although the economic situation in the eurozone remains far from convincing, the market may have gotten ahead of itself with regard to ECB rate cuts being priced in as early as April.

Analysts at Jefferies cut the price target to $210 per share on Tesla (NASDAQ:TSLA) stock as 2024 is “already a lost year for growth.”

Shares of PENN Entertainment (PENN) rose 4.6% in early trading Monday after BofA Securities upgraded the stock on the early success of ESPN Bet.

The S&P 500 (SPX) continued to rally last week as risk assets have surged since yields on U.S. Treasuries started to drop in late October. The index closed 2.2% higher last week to secure the first close above 4,500 since August.

Pralhad Joshi, who is BJP election in-charge of Rajasthan, on Monday accused the Congress of trying to create a wave in its favour by telling lies and said people of the state had decided to remove the Ashok Gehlot government from power. The campaign for the November 25 elections in Rajasthan is peaking with leaders cris-crossing the state and addressing rallies. Joshi accused the Congress of not fulfilling promises made to people and claimed that people were not coming to rallies of the state Chief Minister. He claimed that some Congress candidates are unable to enter villages.

Arsene Wenger says «it's possible» to develop Indian football «in the very short time» and he cannot imagine the sport evolving without the involvement of the Asian country. The encouraging words from the former Arsenal manager came ahead of the Indian team's World Cup Qualifier against Qatar on Tuesday. Wenger, who is currently the chief of global football development, FIFA, visited the All India Football Federation (AIFF) headquarters on Monday and had an interaction with the heads of a select group of academies from across the country.