Target Financial News

Canada’s inflation rate cooled more than expected in September to an annual pace of 3.8 per cent in a broad-based easing that economists say should give the Bank of Canada reason to hold interest rates when it meets next week.

Canadian consumers got something of a reprieve in September, with inflation moderating to a 3.8 per cent annualized pace, down from four per cent a month before.

Strength in base metals and battery metals stocks helped Canada’s main stock index eke out a small gain, while U.S. stock markets were mixed.

Zensar Technologies, a mid-sized IT services company and part of the RPG Enterprise Group, dropped 5.6% to ₹519.25 apiece during Wednesday's trade after the company posted its Q2 FY24 earnings. The company posted a consolidated net profit of ₹174 crore, a 205% surge compared to ₹57 crore posted in Q2 FY23. On a QoQ basis, net profit showed an 11.53% increase, while revenue growth remained relatively flat, with a slight YoY uptick of 0.5% and a QoQ increase of 1.1% to reach ₹1,240 crore.

NeoLiv, residential investment and development platform, founded by Mohit Malhotra, former MD and CEO of Godrej Properties plans to launch at least 10 projects with the revenue potential of Rs 12,000 crore on the next 3-4 years. NeoLiv has already secured the permission from the Securities & Exchange Board of India (SEBI) for a category II Alternate Investment Fund (AIF) with a plan to raise $ 150 million including a green-shoe option of $60 million. It plans to develop 10 residential projects in Delhi and Mumbai using the first round of fund. “We have identified 13 projects in Delhi-NCR and Mumbai and due diligence is on. We should be able to announce our first project in 2-3 months,” Malhotra told ET. Wealth and alternates-focused asset firm 360 ONE, erstwhile II FL Wealth & Asset Management, has entered into a strategic partnership with strategic partnership with NeoLiv by making a minority entity-level equity investment. “In the real estate sector, financial institutions and developer are two separate institutions but we have brought it together.

Arvind Fashions with a ‘buy’ call. It is a focused player with a strengthened balance sheet and attractive valuations, it said. The brokerage has a target price of ₹515 for the stock, indicating an upside of over 40 percent.

L&T Technology Services (LTTS) lost over 5 percent on Wednesday after the company lowered its revenue growth guidance for the current fiscal year despite in-line revenue for the quarter ended September 2023 (FY24). The stock shed as much as 5.5 percent to its day's low of ₹4,360.35. It has gained 29 percent in the last 1 year and 19 percent in 2023 YTD.

home loan helps a great deal to achieve this target. Accordingly, it’s not a surprise to see several companies offering home loans for people from different walks of life. A report by the Reserve Bank of India (RBI), released in March, indicated that there was a significant decadal growth in home loan advances of almost 6 per cent to 14.2 per cent in March 2023 from 8.6% in March 2012.

all is fair in love and war, the ‘Hamas attack cannot be justified…’ Enforcing laws during war's chaos is tough. Holding perpetrators accountable post-conflict is often elusive due to complexities and challenges. But there are clear evidences that show both Palestinian militant group Hamas and Israel have been breaking international laws since the start of the war.

(Reuters) — JP Morgan and Nomura on Wednesday lifted their forecast for China's economic growth for the year, after the economy grew at a faster-than-expected pace in the third quarter from a year earlier.

This incident has sparked condemnation worldwide and led to violent protests in several Muslim nations. Amidst the chaos, blame for the devastating tragedy is being exchanged between Israel and Palestinians.

HDFC Bank is better placed through its granular branch expansion and faster customer acquisition compared to ICICI Bank which will ensure diversified and deeply penetrated growth with the sticky customer base. It likes both large private sector banks and has maintained ADD ratings on them. For HDFC Bank, the brokerage has a target price of ₹2000, implying a potential upside of almost 30 percent while for ICICI Bank, it has a target of ₹1,060, indicating an 11 percent upside.

ABB matched forecasts with its third-quarter operating profit on Wednesday and dampened expectations for the fourth quarter while reporting continued decline in orders from China. The maker of industrial drives and motors posted a 13% increase in its operational earnings before interest, tax and amortisation (EBITA) to $1.4 billion during the three months to Sept. 30, in line with a company-gathered consensus of forecasts. Revenues at the company, which competes with Germany's Siemens and France's Schneider Electric rose 8% on a comparable basis to $8 billion, slightly below analysts' forecast for $8.1 billion. ABB reported net income of $882 million, below the $919 million consensus forecast. ABB, a big supplier to industry, is seen as a bellwether for the broader global economy, with its products being used in ships, ports, factories and transport systems. The group said its order intake fell 2% during the quarter with double-digit growth in the United States, its biggest market, partially helping to offset a decline in China, ABB's second-largest market. «Orders in China declined at a low single-digit comparable growth rate particularly hampered by weakness in robotics and construction demand,» Chief Executive Bjorn Rosengren said in a statement. ABB said it anticipated low- to mid-single digit comparable revenue growth in the fourth quarter.

Ahluwalia Contracts' margin to improve from FY24 with softening of commodity prices, a narrower gap of indices with input prices, slightly lesser competitive intensity and new projects bid at elevated input price assumption. The company’s robust and diversified order book, strong bidding pipeline, timely execution could help to bring more orders going forward, HDFC Securities said.

₹214.8 apiece. This significant increase was attributed to a media report stating that CK Birla had approached Gautam Adani to sell his promoter stake in the company. The Economic Times, quoting sources, reported that CK Birla reached out to Gautam Adani after turning down initial offers from other domestic players that did not meet his valuation requirements.

By Leika Kihara

By Tom Westbrook

Wagering giant Tabcorp could face a strike against remuneration for the first time since 2018, as proxy firm Ownership Matters and ISS joined the Australian Shareholders’ Association in urging shareholders to vote against the proposed salaries of its CEO and directors.

Bajaj Finance share price: Bajaj Finance share price fell over 2 per cent in early trade on BSE on Wednesday, October 18, a day after the company reported its current fiscal's July-September quarter (Q2FY24) scorecard. Bajaj Finance share price opened at ₹8,080.95 against the previous close of ₹8,091.35 and dropped 2.05 per cent to the level of ₹7,925 quickly. Around 9:25 am, the stock was 1.36 per cent down at ₹7,981.35 on BSE.

₹59,608 per 10 grams around 10 am. Also Read: IRM Energy IPO: Check GMP today, subscription status, should you subscribe? (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Manoj Kumar Jain of Prithvifinmart Commodity Research expects gold and silver to remain volatile this week.

(Reuters) — China's economy grew at a faster-than-expected clip in the third quarter from a year earlier, official data showed on Wednesday, suggesting the recent recovery may carry enough steam to reach Beijing's full-year growth target.