Target Financial News

Woolworths’ partial acquisition of PETstock has hit a competition snag forcing it to divest a package of stores and veterinary hospitals to try to win approval from the regulator, which found historical transactions by the pet retailer may have breached competition laws.

Santos has taken steps to start installing the pipeline for its $5.8 billion Barossa gas project in the Timor Sea, even as it awaits regulatory approvals for the drilling work it was forced to suspend more than a year ago because of a court ruling.

Bajaj Auto jumped over 5% to hit a 52 week high of Rs 5,395 on the NSE on Thursday as the Street cheered BofA's post earnings commentary on the stock and its upward revision of the price target. The domestic brokerages have kept a mixed view on the two-wheeler stock. In the domestic pack, Kotak Institutional Equities recommended a Sell, while Nuvama and Motilal Oswal took a hold and neutral stance, respectively raising concerns on exports outlook.

IndusInd Bank jumped 2.5% to the day's high of Rs 1,456.50 on the NSE on Thursday following strong September quarter earnings posted by the private lender on Wednesday post market hours. The stock was among top Nifty gainers in the early trade riding on the fresh impetus provided by favourable views from top brokerages. Among the ones who came out with their post-earnings review of the stocks were BofA, Kotak Institutional Equities and Nuvama and all of them have a buy view on the counter.

CIE Automotive India Ltd. with a target price of Rs 575.

Prestige Estates Projects Ltd. with a target price of Rs 900.

Bandhan Bank with a target price of Rs 250. The current market price of Bandhan Bank Ltd.

One 97 Communications, the parent company of Paytm, with a ‘Buy’ rating and a target price of ₹1,300 per share, implying an upside of over 37% from Wednesday’s closing price. India's leading payments player, Paytm has accelerated monetization of its large ecosystem with ramp-up of credit business.

₹5,191.05 against the previous close of ₹5,156.90 and rose almost 5 per cent to the intraday high of ₹5,411 in Thursday's trade so far. Around 10:40 am, the stock was 4.23 per cent up at ₹5,374.80 on the BSE. LTIMindtree share price has gained about 14 per cent in the last one year against an about 11 per cent gain in the equity benchmark Sensex.

The Texas-based electric vehicle giant said sales in the July to September period reached $23.35 billion, lower than the $24.19 billion forecasted by analysts polled by Factset. The company also saw net profits come in less than hoped for, at 66 cents per share instead of 73 cents forecasted. Musk has undertaken multiple price cuts throughout 2023 on vehicles, telling investors in April that the company has taken the view that pushing for higher sales is the right choice versus taking a bigger margin. The move came as more EVs from legacy carmakers like General Motors and Ford are hitting dealerships. But those rivals have been punished by a major strike in the United States, something that Tesla will not have to navigate. The price cuts have made investors nervous and Tesla's share price slid more than seven percent in the last month and was down more than three percent from its last closing price in afterhours trade. The Tesla stock valuation however still dwarfs other US car makers and it has more than doubled in 2023, comforting Musk's position as one of the world's two richest people.

Sensex plunged 551 points to settle at 65,877, while the Nifty declined 140 points to end at 19,671. Stocks that were in focus included names like Ultratech, which fell 0.17%, Maruti Suzuki, which gained 0.23%, and Trident, whose shares dropped 10% on Wednesday. Here's what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today. Ultratech Cement — Buy on dips After a narrow range consolidation, the stock took support near 100 day SMA (Simple Moving Average) around 8250 level. The anchor VWAP band shows a crucial support within the range of 8240 to 8270 zone.

central bank kept its interest rate unchanged for a sixth straight meeting on Thursday while retaining a tightening bias, as policymakers stayed alert to higher oil prices that could interrupt a moderation in inflation. The Bank of Korea (BOK) said price pressures would remain for longer than expected due to heightened uncertainties surrounding the Israel-Hamas conflict and global oil prices. «The timing of consumer price inflation converging on the target level is more likely to be delayed than previously expected,» it said in a statement after keeping its key policy rate at 3.50%, as expected by all 49 economists polled by Reuters. The South Korean economy has taken a hit from a cumulative 300 basis points of rate hikes since August 2021 that has been adding financial stress to households, among the most indebted in the world. With markets not anticipating a rise in rates for the rest of the year, the focus is now on whether Governor Rhee Chang-yong will maintain his hawkish bias or signal a policy pivot. «Above-target domestic inflation will keep the BOK guarded. September's print exceeded expectations at 3.7%, driven mainly by oil and agricultural prices.

U.S. Federal Reserve will keep its key interest rate on hold on Nov.

Wipro: Wipro announced its July-September quarter results for fiscal 2023-24 (Q2FY24) today, reporting a consolidated net profit of ₹2,667.3 crore, compared to ₹2,649.1 crore in the corresponding period last year. Azim Premji-backed Wipro announced on Wednesday, October 18 that the IT major's board had approved the merger of five of its wholly-owned subsidiaries with itself into ‘Wipro Ltd’. Bajaj Auto: Bajaj Auto on Wednesday reported a 5.6% rise in second-quarter revenue as price hikes offset weak demand for its motorcycles.

Buy or sell stocks for today: Following mixed and choppy trade in Asian markets, Indian stock market ended lower on Wednesday. Nifty 50 index went down 140 points and closed at 19,671 levels, BSE Sensex corrected 551 points and ended at 65,877 mark whereas Bank Nifty index finished 520 points lower at 43,888 levels.

Day trading guide for today: Following weak global market sentiments, Indian stock market ended lower on Wednesday session. Nifty 50 index went down 140 points and closed at 19,671 levels, BSE Sensex corrected 551 points and ended at 65,877 mark whereas Bank Nifty index finished 520 points lower at 43,888 levels.

₹1,831.84 crore, according to NSE data. DIIs bought equities resulting in an inflow of ₹1,469.50 crore, the exchange data showed.Global shares dragged on Wednesday amidst deepening fears over the Middle East conflict and as a downbeat forecast for the semiconductor sector weighed on sentiment.Oil prices advanced as the mounting strife in the Middle East appeared to pose a growing threat to supply.

Israeli airstrikes in Gaza City targeted the residence of Ismail Haniyeh, the senior political figure of Hamas, resulting in the reported deaths of at least 14 individuals. 1) Coalition forces were slightly injured in Iraq in a spate of drone attacks over the last 24 hours at US bases in Iraq as regional tensions flare following the deadly explosion at a hospital in Gaza. 2) Two drones targeted the al Asad airbase in western Iraq used by US forces and one drone targeted a base in northern Iraq, a US official told The Associated Press. 3) This came after Iranian-backed militias in Iraq threatened to attack U.S.

(Reuters) — Ford Motor (NYSE:F) said late on Wednesday it is laying off another 150 workers in Michigan because of the ongoing United Auto Workers strike, bringing the total to 2,730 workers furloughed.

Netflix raised subscription prices for some of its streaming plans in the United States, Britain and France on Wednesday, a move to boost revenue in a competitive streaming market.

New York | Morgan Stanley shares plunged after third-quarter earnings slid amid sluggish results from the firm’s investment bank and a miss in wealth management.