Target Financial News

Larsen & Toubro Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 413810.84 Crore) operating in Construction sector. Larsen & Toubro Ltd.

gold allocation has benefited investors. With returns on gold mutual funds as of October-end close to 20% y-o-y, many of us might have missed the gold rally. But don’t let that dampen the Diwali spirit. Prospects for gold are looking good in the long term, giving you more reason than just the festivities to invest in the precious metal. International gold prices bottomed out in October last year and started moving up slowly over the next six months as the Federal Reserve became less aggressive with its rate hikes. Prices moved up sharply in March 2023 as a regional banking crisis erupted in the US and drove risk assets down. Risk aversion and expectations of Fed cutting rates in response to the crisis were the drivers. But the crisis did not spread to other parts of the economy and gold cooled off in the subsequent months. Meanwhile, inflation remained more than double the Fed's 2% target and US economic indicators were showing resilience, meaning there was more requirement and more room to hike rates. Fed began indicating a hawkish stance again. US yields and US dollar moved up and gold moved lower till September.

Vedant Fashion, Jefferies has a hold rating on Nazara Technologies, CLSA maintained a buy on Zee Entertainment and Jefferies maintained an underperform rating on Piramal Enterprises. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on Vedant Fashion: Overweight| Target Rs 1418 Morgan Stanley maintained an overweight rating on Vedant Fashion at a target price of Rs 1418. The global investment bank believes that the share price will rise relative to the country index over the next 60 days. The global investment bank expects the company to deliver strong H2 top-line growth, aided by a higher number of wedding dates and festive season. The management has seen good traction in sales, footfalls, and conversions during the Navratri period. Analysis of credit card spend also indicates that festive spending is strong.

Sandip Sabharwal, asksandipsabharwal.com, says 2024 will be a year of good double-digit gains in the market. 2023 was expected to be a bit dicey in a way because of the rate hike cycle and the impact that it will have on valuations, etc, market selloffs and whether it can create some disruptions. In my view, the time to be worried about higher interest rates is not now, it was earlier. Now we need to look forward and see what will happen as interest rates eventually start coming down.” While nothing is really happening in the market for the last two days, how do you think the year ahead is going to look like? The year ahead will be very good. I believe 2024 will be a year of good double-digit gains in the market. 2023 was expected to be a bit dicey in a way because of the rate hike cycle and the impact that it will have on valuations, etc, market selloffs and whether it can create some disruptions. I believe that a lot of people are now worried about higher interest rates. In my view, the time to be worried about higher interest rates is not now, it was earlier. Now we need to look forward and see what will happen as interest rates are already high and then eventually they will start coming down and what that does to market valuation and overall economic outlook and both of them which are positive.

US Federal Reserve is prepared, if needed, to hike interest rates further in order to bring inflation down to its long-term two percent target, Fed Chair Jerome Powell said Thursday. «We know that ongoing progress toward our two percent goal is not assured: Inflation has given us a few head fakes,» Powell told a conference in Washington. «If it becomes appropriate to tighten policy further, we will not hesitate to do so,» he added, in remarks that were briefly disrupted by climate protesters. Powell's comments come just over a week after the US central bank voted to hold interest rates steady at a 22-year high for a second consecutive meeting, fueling expectations that it was done with rate hikes. While the Fed's rate-setting committee is «committed» to achieving a sufficiently tight stance of monetary policy, «we are not confident that we have achieved such a stance,» Powell said. The Fed chair's comments suggest the US central bank is still concerned about the prospect of a re-acceleration of inflation, which has more than halved since peaking last year, according to the Fed's favored yardstick. However, Powell later indicated that he felt the Fed was «probably» at a point where its monetary policy was «significantly restrictive,» suggesting that the Fed felt confident in its current stance. «We're watching the effect carefully on the economy,» he said.

Buy or sell stocks for today: Indian stock market swung between gains and losses and finally ended lower on Thursday session. Nifty 50 index lost 48 points and closed at 19,395 levels, BSE Sensex went down 143 points and closed at 64,832 mark whereas Bank Nifty index finished 24 points higher at 43,683 levels.

Edmonton Police Service described as “serious, targeted incident” at a shopping complex Thursday in deep southeast Edmonton.Around noon MT, over a dozen police cruisers and an ambulance responded reports of a shooting at the Petro-Canada gas station and A&W in the Harvest Pointe shopping complex just off Ellerslie Road and 50th Street.Upon arrival, police said officers found a 41-year-old man and an 11-year-old boy in medical distress.EMS responded, however, both the man and child died of their injuries on scene.They are a father and son, EPS confirmed. Not long after the shooting, family members began showing up to the scene, where they learned their loved ones had died.The homicide section is now investigating the suspicious deaths and said detectives have determined this was a targeted attack.As of Thursday evening, autopsies had yet to be scheduled.“We are sad to report that a child lost their life as a result of this violent event,” EPS Homicide Section Staff Sgt.

Investing.com — Stocks sank on Thursday after Federal Reserve Chair Jerome Powell dashed investor enthusiasm over the end of interest rate increases.

Diwali 2023 Stock Picks: TheIndian domestic equity market reached all-time highs in 2023 and ended Samvat 2079 on a strong note. Frontline index Nifty 50 breached the 20,000 mark and 20,000 mark gained 10 per cent in this period, while broader indices Nifty mid- and smallcap outperformed with gains of 30 per cent and 36 per cent, respectively. Going ahead, for Samvat 2080, the global geopolitical situation will remain grim as the Israel-Palestine war has added to the already crippled global order due to the Russia-Ukraine war.

Suncor Energy Inc. says it has wrapped 1,500 job cuts two months ahead of schedule, but that it will continue to look for areas to trim as part of a wider efficiency push.

By Steve Scherer and David Ljunggren

Slightly fewer Americans applied for jobless claims last week, further indicating that the labor market remains strong in an era of high interest rates

Thousands of wildfires in Canada have incinerated an area larger than Florida since May

Federal Reserve Chair Jerome Powell suggested that the Fed is in no hurry to further raise its benchmark interest rate, given evidence that inflation pressures are continuing to ease at a gradual pace

Stocks fell on Wall Street as the pressure cranked higher from the bond market again

Nissan has reported that its profit zoomed more than 10-fold in the last quarter from a year before, boosted by a weak Japanese yen and strong vehicle sales around the world

Tensions over the conflict in Gaza escalated into a brawl Wednesday afternoon at Concordia University in downtown Montreal.

Living life at least partly online is a fact of modern living, but while the youngest Americans are typically tech-savvy with high levels of digital literacy, the oldest cohort is more vulnerable to cybercrimes.

(Reuters) — Pot firm Trulieve Cannabis (OTC:TCNNF) on Thursday posted a narrower third-quarter loss on lower operating expenses and blew past free cash flow targets.

Investing.com --  The Dow closed lower Thursday, as Federal Reserve chairman Jerome Powell dealt a blow to bets on sooner rather later rate cuts after signaling that the Fed isn't ready to close the curtain on rate hikes.

By Karen Brettell