Target Financial News

By Leika Kihara

MCX share price continued its upward trend for the fourth consecutive session on Thursday and hit a 52-week high led by strong buying interest in the stock. MCX shares have rallied over 7% in the past one week. On Thursday, MCX shares gained as much as 2.43% to a record high of ₹2,447.40 apiece on the BSE.

Can “engagement" mean “addiction", especially where children and teenagers are concerned? There appears to be bipartisan consensus in America that this could be the case, going by a couple of big lawsuits recently filed against Meta. A consortium of 41 US states and the District of Columbia has alleged that the social media giant deliberately used algorithms designed to get youngsters addicted to platforms such as Instagram and Facebook, and also concealed internal research that linked high social media use to higher levels of anxiety, despair, eating disorders and insomnia. The lawsuits also allege that Meta harvested and monetised the data of minors without proper consent, and asks for compensation and restitution for individuals and families that have suffered harm.

AustralianSuper is seeking to increase its blocking stake in Origin Energy, sending stockbroker Macquarie into the market to buy more shares on its behalf.

Maneesh Dangi, Founder, Macro Mosaic Investing, says “it is very unlikely that the US would have a 2008 play out because the US balance sheets are pretty clean in terms of household balance sheets and corporate balance sheets are not levered. But that cannot be said for Europe, cannot be said for China, it cannot be said for many other emerging markets. So I do not know and I do not think a GFC kind of liquidation or credit events are going to play out in the US but then it is more likely that it could pay out in some other places. Thankfully, Indian balance sheets look as clean as they were in 2007. So India is out of the picture as far as that sort of balance sheet stress is concerned.” Do you think everything is moving on expected lines? The Fed was not supposed to increase rates, they have not increased rates. The Fed was supposed to say that they are keeping the interest rate window open, which is what they said. The Fed was supposed to increase their outlook for the US economy, which they did. So, the Fed is becoming rather easy to call now. Yes, it is a sensible Fed because having taken the rates higher by about 550 basis point, Fed is deeply aware as we all are, that interest rates work with a lot of lag and incidentally I was reading a research report today early that perhaps today's interest rates operating in US could be of last Diwali.

BJP leader Avinash Rai Khanna said here on Thursday and asked why Delhi Chief Minister Arvind Kejriwal was avoiding the Enforcement Directorate if he has done no wrong. Delhi Chief Minister Arvind Kejriwal on Thursday did not appear before the Enforcement Directorate for questioning in an excise policy-linked case and wrote to the agency demanding withdrawal of the notice summoning him, claiming it was «illegal and politically motivated». The AAP national convener's party colleagues Manish Sisodia and Sanjay Singh are in judicial custody in this case.

Investing.com-- Gold prices rose on Thursday, encouraged by a weaker dollar and Treasury yields after the Federal Reserve struck a less hawkish tone than expected, although gains in the yellow metal were limited by increased risk appetite. 

Investing.com — European stock markets are expected to open higher Thursday, following strong gains on Wall Street on rising hopes that the Federal Reserve has completed its run of interest rate hikes.

Zydus Lifesciences on Thursday said it has joined hands with oncology firm Guardant Health to jointly promote a portfolio of liquid and tissue biopsy tests across India and Nepal.

The Centre on Thursday will launch a month-long nationwide campaign aimed at raising awareness on the use of digital life certificates among central government pensioners, according to an official statement issued on Wednesday.

Yogi Adityanath drew comparisons between the Israel-Gaza conflict and the political rivalry between the Congress and the BJP in Rajasthan. Speaking at a rally in Alwar, Rajasthan, CM Yogi Adityanath stated, «Do you see how the Taliban mindset is being defeated in Gaza? Hitting the target with precision and crushing it.» He further emphasized that the solution to the Taliban problem lies in the power of Bajrang Bali's mace. CM Yogi launched a scathing attack on the Rajasthan Congress, stating that anarchy, hooliganism, and terrorism are detrimental to society.

Former competition watchdog chairman Graeme Samuel says the federal government needs to control prices charged by stevedores at the nation’s container ports after DP World increased container fees by as much as 52 per cent.

ICICI Bank. The stock has underperformed benchmark indices in the last one year. It has given muted returns, up just 0.8 percent in the last 1 year as against a 5 percent gain in Nifty Bank and a 6 percent jump in Nifty.

New Delhi: On 30 October, Apple sent an unusual notification to several prominent Indians, including members of Parliament Raghav Chadha and Shashi Tharoor, Congress media chairperson Pawan Khera, and others. The ‘threat notification’ said their devices may have been targeted by state-sponsored attackers. Mint explains.

Israel is pounding Gaza with bombs and rockets like never before. In over 26 days of the war, coined as ‘Operation Iron Swords’, Israel has already carried out more than 6,000 strikes, flattening buildings and infrastructure in Gaza.

The Albanese government will draft new laws to regulate how investment products are labelled in an attempt to reduce unverified sustainability claims and ensure environmental credentials are comparable.

In what appears to be a part of pro-Palestinian protests in the U.K., live rodents were released inside three separate McDonald’s restaurants. In one incident the animals looked to be spray-painted red, black and green – the colours of the Palestinian flag.

Kamal Kishore Chatiwal, MD, Indraprastha Gas, says “On October 27, we clocked the highest ever sale by IGL of 51.92 lakh kg per day. Earlier, we were just touching around 50 lakh due to this festive sale and plus some of the initiatives that we have taken to increase our dispensing capacity. So we have been able to achieve around 52 lakh kg. And if you see our last annual, that was around 46-47 lakh kg. So there has been an increase of 10 to 12%.” To begin with, your volumes in Q2 have been around 8.3 MMS CMD, and your FY24 guidance was a little bit more. How are you seeing volumes picking up in the second half? Actually, the quarterly MMS CMD volume is around 8.3, as against 8.09 that we had done last year. In this quarter, there have been two major disruptions in the form of G20 as well as the floods in Delhi. So that has impacted around eight to nine days of sales. And the impact of that is around 0.12. So we are hopeful that we will end the year at 9 MMS CMD. Have volumes also picked up in the current quarter? On October 27, we clocked the highest ever sale by IGL of 51.92 lakh kg per day. Earlier, we were just touching around 50 lakh due to this festive sale and plus some of the initiatives that we have taken to increase our dispensing capacity. So we have been able to achieve around 52 lakh kg. And if you see our last annual, that was around 46-47 lakh kg. So there has been an increase of 10 to 12%.

Meanwhile, on a consolidated basis, net revenue went up 4% to Rs 3,905 crore, from Rs 3,764 crore in Q2FY23. EBITDA (Earnings before interest, tax, depreciation and amortisation) increased to Rs 597 crore, as against Rs 305 crore in the year-ago period. The margin for the quarter under review came at 15.11%, up from 7.91% in the year-ago period. The tyre maker also approved an investment of Rs 1,025 crore for manufacturing capacity expansion.

JK Tyre and Industries, the flagship company of the JK Group, surged over 14% during intraday trading on Thursday, reaching an all-time high. This impressive performance came on the heels of the company's September quarter earnings, which exceeded market expectations. On Wednesday, the company posted a 398% surge in its consolidated net profit to ₹249 crore.

Federal Reserve held interest rates steady, raising expectations that the Fed may be done with interest rate hikes. According to a Reuters report, the dollar index declined 0.5 per cent, while benchmark US 10-year note yields fell to a more than two-week low. The US Federal Reserve left policy rates unchanged on Wednesday, November 1, at a 22-year high level of 5.25-5.50 per cent.