Target Financial News

Kunal Vora, Director, Head of India Equity Research, BNP Paribas, is confident on a long-term theme called affluent India. The income tax data which came out in recent months show that affluent India – the top 10% of the income earners – is doing really well and some of the stocks which BNP Paribas is recommending are coming from that theme.

Also Read: Israel-Hamas War LIVE Updates: Rocket misfired by Gaza militants hit hospital, says Israel army "Immediately upon hearing this news, I spoke with King Abdullah II of Jordan, and Prime Minister Netanyahu of Israel and have directed my national security team to continue gathering information about what exactly happened," the statement quoted Biden as saying. "The United States stands unequivocally for the protection of civilian life during conflict and we mourn the patients, medical staff and other innocents killed or wounded in this tragedy," he added.

Tata Elxsi, the design and digital technology division of the Tata Group, recently disclosed a net profit of ₹200 crore in the quarter ending September 2023, according to a regulatory filing submitted on October 17.This net profit marks a 14.8% annual growth, given that it was ₹174.3 crore in the corresponding period last year. Moreover, the company's net profit witnessed a sequential increase of 5.9% from ₹188.9 crore, which was reported in the June 2023 quarter.

Day trading guide for today: Key equity indices the Sensex and the Nifty 50 ended with gains in the previous session, snapping their three-day losing run, on widespread buying across various sectors amid positive global cues. While the Israel-Hamas conflict endures and concerns about its potential spread to other nations persist, investors appear to have shifted their attention towards corporate earnings and macroeconomic indicators. Nifty 50 index closed the day at 19,811.50, up 80 points, or 0.40 per cent.

Origin Energy chairman Scott Perkins has told shareholders that the board took into account the improved outlook for the business when agreeing to an $18.7 billion takeover offer from two North American suitors.

Woodside Energy has called for “urgent” reforms to Australia’s offshore approvals process, citing the threat of delay and increased cost at its $16.5 billion Scarborough LNG project in Western Australia.

New York | Goldman Sachs posted a second straight quarter of real estate write-downs and a continued dealmaking slump, leaving the investment bank’s profitability at about half the level it’s targeting.

Ukraine claims to have carried out one of the most destructive attacks on Russian air assets since the beginning of the war

Rite Aid’s plan to close more stores as part of its bankruptcy process raises concern about how that might hurt access to medicine and care

Stellantis has said it will be canceling its participation in next year’s CES technology show in Las Vegas due to the “mounting” costs of the ongoing auto workers strike in North America

Pakistan Cricket Board (PCB) has lodged a formal protest with the International Cricket Council (ICC) alleging delays in visas for Pakistan journalists, absence of visa policy for fans and '«inappropriate conduct» targeted at its team during the World Cup match against India in Ahmedabad on Saturday. PCB took to X (formerly Twitter) to share the news. «The Pakistan Cricket Board (PCB) has lodged another formal protest with the ICC over delays in visas for Pakistjournalists and the absence of a visa policy for Pakistan fans for the ongoing World Cup 2023.

Reserve Bank of India (RBI) could consider rolling over a $5-billion foreign exchange swap set to mature next week as the central bank, which has repeatedly flagged inflationary risks stemming from excess funds with banks, prioritises liquidity management over bolstering forex reserves. Some investors believe that a current deficit in headline liquidity prints and expected currency leakage during the festive season make a case for the RBI to let the swap mature on October 23, potentially leading to an inflow of around ₹40,000 crore in the banking system. However, others pointed out that with core liquidity remaining at a large surplus, the RBI is likely to accord more importance to the battle against inflation, given the central bank's worries about excess cash with banks fuelling consumer price pressures. «After the phasing out of the residual Incremental Cash Reserve Ratio, the core systemic liquidity surplus is currently close to ₹3 trillion, despite headline liquidity oscillating between positive and negative values,» Vivek Kumar, economist, Quanteco Research said. Core liquidity accounts for the government's cash balances, which cyclically flow in and out of the banking system. «With the government running down its surplus cash position in the coming months, headline liquidity would get a boost.

Bernstein analysts downgraded shares of JD.com (NASDAQ:JD) to Market Perform from Outperform, lowering the price target to $31 from $55 per share in a note to clients.

By David Shepardson and Ben Klayman

NEW DELHI : India’s second largest hearables maker Boult Audio is looking to tap the private equity markets in FY25 to raise funds by divesting up to 15%, to expand its footprint in international markets and contract manufacturing capacities. “We will look at capital from private equity next year... we may look at offloading a stake anywhere between single digit to early teens.

The global microfinance market has shown consistent growth prospects from 2014 to 2030, according to ResearchAndMarkets . The report focuses on lending activities by both banks and non-bank entities, targeting small enterprises, solo entrepreneurs, and micro-enterprises. This trend emphasizes the role of microfinance in advancing financial inclusivity and supporting entrepreneurial ventures globally.

There has been a nationwide increase in «phantom hacker» scams, a type of fraud «significantly impacting senior citizens,» who often lose their entire bank, savings, retirement or investment accounts to such crime, according to the FBI.

On October 2, 2023, plaintiff Nir Lahav filed a class-action lawsuit in the District Court of Northern California against Binance Holdings Limited, BAM Trading Services Inc., BAM Management US Holdings Inc., and CEO Changpeng Zhao. The lawsuit accuses Binance and Zhao of unfair competition and violations of Security Exchange Commission (SEC) laws. The plaintiff alleges that Binance's actions were aimed at monopolizing the cryptocurrency trading platform market at the expense of competitor FTX.

The US 10-year Treasury yield continues to rise, pushing ever higher above CapitalSpectator.com’s “fair-value” estimate, which is based on averaging three models. The trend highlights the limitations of models, at least in the short, for estimating near-term changes in bond yields. But reviewing the recent divergence reminds us that the current spread, although extreme by the standards of recent years, isn’t unprecedented.

JPMorgan raised CyberArk Software (NASDAQ:CYBR) to Overweight from Neutral, increasing the price target to $200 from $182 in a note Tuesday. The firm also opened a Positive Catalyst Watch on the stock.

ICC World Cup 2023: Pakistan Cricket Board on Tuesday filed a complaint with the International Cricket Council (ICC) over the inappropriate conduct of the Pakistan cricket team during the India vs Pakistan match at Narendra Modi Stadium, Ahmedabad. The complaint comes as some videos were doing rounds on social media where the crowds in Ahmedabad Stadium were seen as a bit unfriendly to the Pakistan team.