Target Financial News

More than half of the firms on the Commonwealth’s legal services panel have failed to meet pro bono targets, putting at risk their ability to win lucrative government work.

Some policymakers at the Bank of Canada expressed concerns last month that interest rates weren’t high enough to fully tame inflation, according to newly released deliberations that took place ahead of the last rate decision.

Grindwell Norton Ltd. with a target price of Rs 2604.

Nifty was trading near the flatline on weekly expiry day after forming a small-bodied bearish candle on the daily chart. OI data indicates short covering in Nifty on Wednesday and short build-up in Nifty Bank. «For the current weekly series, 19500 call has significant open interest, followed by 19600 strikes. On the put side, 19400 has significant open interest, followed by 19300 strike implying the zone of 19410-19390 will act as immediate support for the index.

Tata Power share price declined nearly 3% in early trade on Thursday after the company reported its earnings for the quarter ended September 2023. Tata Power shares fell as much as 2.96% to ₹247.35 apiece on the BSE. Tata Power Company reported a growth of 8.79% in its consolidated net profit for the July-September quarter on a year-on-year (y-o-y) basis at ₹1,017.41 crore.

Buy now, pay later operators face an existential threat as rising interest rates and a worsening economy means they will struggle to maintain the support of fickle, or “confidence sensitive” equity investors.

National Australia Bank lifted cash profit by 8.8 per cent to $7.7 billion for the 2023 financial year and boosted its final dividend to 84¢ a share, but pointed to a “more challenging environment” in its second half and for 2024.

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Federal regulators say a new version of the popular diabetes treatment Mounjaro can be sold as a weight-loss drug

Good yield: Currently, the yield on US government securities of various maturities, such as 1, 2, 3, 5, 7, and 10-year, is in the 4.5% to 5.5% range. These are attractive yields when compared to yields on these securities in the past. These yields were last seen in 2007-08, which was 15 years back.

Prestige Estates while Jefferies recommended a buy on JB Pharma. ICICI Securities has a buy rating on Jyothy Labs and Elara Capital recommended a buy on Uno Minda. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Citigroup on Prestige Estates: Buy| Target Rs 982 Citigroup maintained a buy rating on Prestige Estates but raised the target price to Rs 982 from Rs 693 earlier. The 2QFY24 results were very strong pre-sales and execution.

Thursday as investors preferred booking profit in the absence of triggers for bullion. The prices in gold and silver declined despite a weak dollar index (DXY). MCX December gold futures were trading at Rs 59,901 per 10 gram, up by Rs 108 or 0.18% from the Thursday closing price.

Siddhartha Khemka, V-P, Head of Research (Retail), MOFSL, says “the passenger vehicle segment within the auto universe has been consistently doing well. But of late, we have seen good recovery especially in the festive season, where demand for some of the two-wheelers have been pretty strong and some of the niche players have reported good numbers like Eicher. But the foray into EVs is helping companies like TVS Motors to show a stronger growth. In the two-wheeler space in terms of valuations, Hero Moto continues to trade at a steep discount to something like Bajaj Auto and Eicher.” How are you seeing this QSR space develop and how do you see this moving because the trend of burgers versus pizza seems to be continuing even as of now. Plus, you do have those factors coming in from food inflation at some point of time as well. So, overall, in this QSR space, anything that you find attractive or what are you looking at here? Yes, definitely, there has been a case in the last few quarters where there is a clear-cut differentiation between the pizzas and the burgers.

Sunny Agrawal, Head of Fundamental Equity Research, SBI Securities, “for FY23, Mrs Bector’s has reported net sales of around Rs 1,362 crore and net profit of Rs 90 crore. Our estimate suggests that sales are likely to expand from Rs 1,362 crore in FY23 to Rs 1,891 crore, almost Rs 1,900 crore in FY25 and net profit of Rs 90 crore from FY23 to Rs 167 crore in FY25. ” Just going through some of the buy calls that you are issuing out. I just wanted to get a sense of names like Mrs Bectors Food right now. I have picked up this one because you have already seen a massive rally in the stock year to date. How much more of an upside do you think the stock can garner on a 12-month basis? And what makes you so bullish on this story? My price target for Mrs Bectors Food is around Rs 1358. As we all know, Mrs Bectors Food is one of the leading players in the biscuit and bakery category in North India. Their biscuit brand is Cremica and on bakery side, English Oven is the brand which they are riding the rally on.

“The 3Cs, namely, capex, credit growth, and consumption (more so discretionary, upper end and luxury) are themes which must find a way to get into the portfolio of investors,” says Devang Mehta, Director – Equity Advisory, Spark Capital Private Wealth Management. In an interview with ETMarkets, Mehta said: “4Fs — Financialisation, Formalisation, Fiscal expenditure by the government & Farm income growth are the themes which will play out in an economic upturn and select sector and companies who are part of this theme will show robust growth and profitability,” Edited excerpts: The festive season has begun, and we are seeing signs of stabalisation as volatility has reduced. How are you looking at markets? India's festive season usually runs for several weeks until Diwali with millions of Indians binging on food, gifts, and home improvements.

Day trading guide for stock market today: After showing an upside recovery from the intraday lows on Tuesday, Indian stock market shifted into a gradual upside move with range bound action on Wednesday. Nifty 50 index and BSE Sensex eneded marginally higher whereas Bank Nifty index finished in red territory. The 50-stock index Nifty ended 36 points higher at 19,443 levels whereas 30-stock index Sensex closed 33 points higher at 64,975 mark.

Iran and its proxies from turning the Israel-Hamas fighting into a regional war, but the repeated attacks and strikes in response risk a conflict between Washington and Tehran. "US military forces conducted a self-defense strike on a facility in eastern Syria used by Iran's Islamic Revolutionary Guard Corps (IRGC) and affiliated groups.

The Globe and Mail said in its report. The thousand-dollar contract involved discussion on how Canadians’ tax dollars can be used efficiently and invested in the priorities "that matter most to them".

euro was near a 15-year high on the yen and was firm against the dollar on Thursday, following hawkish remarks from European policymakers and the prospect of falling energy prices. At $1.0703 the common currency withstood a rising greenback after the European Central Bank's chief economist said he had not seen enough progress in taming inflation. Overnight, the euro touched its highest since 2008 at 161.73 yen, having broken out since the Bank of Japan left short-term rates on hold last week as investors see the pair as safer than navigating the risk of an intervention in dollar/yen. The euro is also up 0.5% this week to 87.14 pence. Ireland's central bank chief Gabriel Makhlouf said on Wednesday further interest rate hikes should not be excluded, something markets do not expect at all, while Bundesbank President Joachim Nagel said the «late mile» to the inflation target may be the toughest. «While the market has been focusing on the prospects of rate cuts from (G10 central banks) next year, many of the respective central bankers have been pushing back against this speculation,» said Rabobank senior strategist Jane Foley. «As long as inflation remains above target, policy makers are likely to want to keep alive the risk of further tightening particularly since a significant drop in market rates could worsen inflationary risks.» The unloved yen failed to get much of a boost from a fall in U.S.

Hezbollah give it the means to deliver on its leader's veiled threat against U.S. warships and underline the grave risks of any regional war, sources familiar with the group's arsenal say.

Oil prices edged up on Thursday as markets shrugged off deflationary indicators in China and looked for further clues on the status of demand from the world's two biggest oil consumers. Brent crude futures rose 62 cents, or 0.8%, to $80.16 a barrel by 0145 GMT. U.S.