Target Financial News

In a strategic move aimed at improving profitability, international satellite communications company Viasat Inc. has announced plans to cut 800 jobs, representing a 10% reduction in its workforce. This decision is part of Viasat's ongoing integration with Inmarsat, which it acquired on May 31, and is expected to save the company approximately $100 million annually from fiscal year 2025 onward. The layoffs will span multiple divisions and regions, while maintaining Viasat's significant presence in the U.S. and U.K.

US Space Agency said. Lucy's primary targets are the so-called Trojans, a group of undiscovered asteroids orbiting Jupiter that are thought to be ancient spacecraft preserved in time, AP reported. The spacecraft is expected to pass eight Trojans that have the potential to be up to 100 times larger than Dinkinesh.

US Federal Reserve left policy rates unchanged on Wednesday, November 1, at a 22-year high level of 5.25-5.50 per cent. The US weekly jobless claims data on Thursday showed the number of Americans filing new claims for unemployment benefits increased moderately last week, according to a Reuters report. "Initial claims for state unemployment benefits rose 5,000 to a seasonally adjusted 217,000 for the week ended October 28.

Tata Motors with a target price of Rs 750. The current market price of Tata Motors Ltd.

Wefox, the $4.5 billion German insurance technology group, has raised $55 million of fresh funding from Deutsche Bank and UniCredit, two anonymous sources familiar with the deal told CNBC.

By Hadeel Al Sayegh and Anousha Sakoui

Albemarle says it is done with big takeover plays in the West Australian lithium sector after folding its $6.6 billion offer for Liontown Resources last month.

Block shares surged 25 per cent on the ASX on Friday after Jack Dorsey’s payments company said it would cut global staff by 1500 to keep a lid on costs and announced a surprise $1 billion share buyback.

CA Rudramurthy, Founder, Vachana Investments, says “I will be a buyer at BHEL at current market price. And I will keep a strict stop-loss of Rs 124 and look at targets of around Rs 133 first to come and then to those levels of Rs 145 to 150. So buy BHEL. avoid Delta Corp. Vedanta has shown clear signs of reversal. I will be a buyer in Vedanta, looking at targets of Rs 235 with a stop-loss of Rs 226. Tata Communication also looks very strong to me. I will be a buyer looking at targets of Rs 1,750 with a stop-loss of Rs 1,695.” What do you make of this breakout in Vodafone Idea? Also while there is no new news flow as such today but Macrotech Developers saw quite a bit of action? First of all a word on Idea. For the last four trading sessions, this stock has definitely shown positive price action with volume. So, for me this is a breakout which will stay. So, the breakout which has happened now at around Rs. 12.50 will continue and we have also seen yesterday a close of about Rs. 12.50. So, this stock is headed upwards and can move towards levels of around Rs. 17-20 range., I will keep a stop loss of Rs. 12 and continue holding if I have Vodafone or even buy at current level looking at targets of Rs. 17-20 with a stop loss of Rs. 12.

scrap metal shipments from the European Union as it seeks to reduce industrial emissions may make it harder for India to grow its steel sector. Countries are recycling more scrap domestically to reduce the use of pollutive feedstocks like iron ore in the steel-making process. For India, which is scrap deficient due to a relatively small consumer base, imports are key to its target of doubling steel production capacity to 300 million tons by the end of the decade. Producers are following policy developments such as the EU’s update of its waste shipment rules, which came after China tightened scrap metal exports.

JK Lakshmi Cement, part of JK Organization, witnessed a notable 6.77% surge in its stock price, hitting a four-month high of ₹719.90 per share during Friday's early trading session, propelled by its impressive Q2FY24 performance. At 10:00 AM, the stock was trading with a gain of 5.17% at ₹709. The company released its Q2FY24 numbers post-market hours on Thursday, with a 55% surge in its consolidated net profit at ₹96 crore.

Dabur India share price: Dabur share price rose over a per cent in early trade on NSE on Friday, November 3, extending its gains of the previous session after the FMCG company's Q2 earnings. Dabur share price rose 2.57 per cent to close at ₹530.40 in the previous session on Thursday after the company reported its September quarter earnings. On Friday, Dabur share price opened at ₹534.10 and soon rose 1.3 per cent to the level of ₹537.10 on the NSE.

Tata Motors share price rallied over 4% in early trade on Friday after the company reported September quarter earnings in line with Street estimates. Tata Motors shares jumped as much as 4.49% to ₹665.45 apiece on the BSE. Auto major Tata Motors on Thursday reported a consolidated net profit of ₹3,783 crore for the second quarter of FY24, driven by robust performance by Jaguar Land Rover.

Tata Steel and Dabur India who declared their quarterly earnings this week. US brokerage Citi downgraded Tata Steel and slashed the price target on concerns over Europe operations coupled with domestic steel prices. Meanwhile, Jefferies has recommended a ‘Hold’ rating on the FMCG play Dabur India while CLSA has an outperform stance on the counter.

A 2006 Harvard Business Review article on the “second in command” role of a COO says that there is very little that is common among the skills and backgrounds of COOs of different organisations, making it very hard to answer “what makes a successful COO?"

Shashank Srivastava, Senior Executive Officer (Marketing and Sales), Maruti Suzuki India Ltd, says “the stock in the industry is now roughly 3,35,000-3,36,000 which is about 30 days of inventory and that is the trend which we have observed in Maruti Suzuki also. Going forward, if the retail sales are good in the balanced part of the festive season that is in the next two weeks, we will see a reduction in the inventory. However, it really depends on how the retail moves in the next two weeks.” Good sales number for October. But in November, will it capture the real festive season? Can we see the sales momentum surpassing the 2 lakh? The momentum continues this quarter and this month as well? Yes, so first of all the 2 lakh number that we came so close to in this last month of October is both the domestic passenger vehicle and the export numbers put together as also the OEM supply. These are wholesale numbers, so while the retail sales in the first 15 days should be really positive because of the Dhanteras, Diwali, Bhai dooj festival, it really depends on how the retail sales happen in this period. Remember, the next month is December, generally the channel does not add stock in that month because they do not want to carry the last year's model stock. Therefore I would not expect the numbers to be much larger, it all really depends on how the retail moves in the first 15 days of October.

About 500 gigawatts of renewable generation capacity will be added this year, according to the International Energy Agency, and at least $1 billion a day is being spent on new solar additions alone. Yet companies in the sector are being squeezed by volatile costs, snarled projects, high interest rates and — in the solar sector — a rush to add new capacity that’s overwhelmed demand. Xinjiang Goldwind Science and Technology Co., the No. 1 wind turbine maker, just reported a 98% slump in third-quarter profits.

ROME: Referring to the escalation of the Israel-Hamas war, External Affairs Minister S Jaishankar said that while terrorism is «unacceptable», there also needs to be a solution for the issue of Palestine. He made the remarks at the Joint Secretary Session of the Senate's External Affairs and Defence Commission, Rome. Addressing the session, Jaishankar said, «What happened on October 7 was a big act of terrorism, the subsequent acts happening after that. This has taken the entire region into a different direction. But surely, it must be everybody's hope that eventually...the conflict can't be the normal of the region and that it comes back to some stability, some cooperation». The EAM noted that a balance needs to be struck on different issues and reiterated New Delhi's position of a 'two-state' solution in the Israel-Palestine conflict. «Within this we have to find a balance between different issues.

Tata Motors: Tata Motors Ltd’s passenger electric vehicle subsidiary on Thursday said it will enter a strategic partnership with Jaguar Land Rover, the wholly-owned British luxury vehicle arm of the group, to leverage its electrified modular architecture (EMA) platform and develop its premium pure EV series. Tata Motors reported a consolidated net profit of ₹3,783 crore for the September quarter. Its total consolidated revenue from operations stood at ₹1,05,128 crore.

Listed small-cap Acrow Formwork has launched a $15 million equity raising to fund the purchase of MI Scaffolding, a Mackay-headquartered business that’s slated to be accretive in the 2024 financial year.

Brookfield Asset Management is cashed up and hunting big-ticket infrastructure debt deals down under.