Target Financial News

Buy or sell stocks for today: Following strong global market sentiments after better-than-expected Chinese economic data, Indian stock market ended in green terriroty for third straight session. NSE Nifty ended at record close of 20,192 levels after climbing to a new life-time high of 20,222 during Friday deals.

retail sales remain strong, and the Federal Reserve is expected to hold interest rates steady this week. For investors with money on the line, the gloom on Wall Street creates a dilemma.

Nifty could touch 20,600 if it manages to breach the 20,400 level. Analysts, however, said upsides would be tougher to come after the recent run-up and crucial support is at 19,900.

Rio Tinto has quietly entered the lithium land grab unfolding in Western Australia as it looks to secure its future in battery minerals, racking up exploration tenements spanning more than 145,000 hectares in the red-hot jurisdiction that has minted billionaires and fanned takeover battles.

Carbon markets are going to be a key tool as Australia, and the world, race towards interim net-zero targets. NAB chief climate officer, Jacqueline Fox, says as a major business bank, with a large market share in agribusiness, NAB has strong insights into both the supply and demand sides of the carbon market in Australia.

US Federal Reserve is widely expected to hold interest rates steady on Wednesday after a summer of mixed economic data, while leaving the door open to another hike if needed. The Fed has raised interest rates 11 times over the last 18 months, lifting its key lending rate to a level not seen for 22 years as it tackles inflation still stubbornly above its long-term target of two percent. After falling sharply over the last year, inflation has ticked up again in recent months due to a spike in energy costs, keeping up the pressure on the Fed. But analysts and traders still broadly expect the US central bank to hold rates steady on September 19-20 in order to give policymakers more time to assess the health of the world's largest economy. «We think the Fed is done with its tightening cycle,» EY Chief Economist Gregory Daco told AFP.

Beam Global, maker of Teacher's whisky and Roku gin, more than doubled its sales in the past two years to over ₹1,000 crore in FY23, but new launches widened losses. Sales rose 54% to ₹1,163 crore during the year to March 2023, compared to ₹756 crore in FY22. Net losses increased to ₹299.7 crore last fiscal against ₹262.3 crore a year ago, as per latest filing with the Registrar of Companies. In FY21, it had net sales of ₹531 crore on net loss of ₹201 crore. In its annual filing, the company said it is on a consumer-insights-led journey to strengthen its core business from the House of Suntory building growth momentum in the premium segments of whisky category in India. «The company has outlined a long-term strategic vision and is transforming people capability and building exceptional excellence to strengthen its brand portfolio.

NEW DELHI : Three large bidders have entered the last lap for acquiring solar projects totalling 350 megawatts (MW) from O2 Power, promoted by Singapore’s Temasek and European alternative asset manager EQT, two people close to the development said. These include Gentari Sdn Bhd, a unit of Malaysia’s state-run oil and gas company Petroliam Nasional Bhd; Edelweiss Infrastructure Yield Plus Fund’s Sekura Energy Ltd; and private equity firm Actis Llp, the people said on condition of anonymity. The transaction, having an equity and enterprise value of $50 million and $200 million, respectively, is being managed by EY, with these three bidders shortlisted from around a dozen non-binding offers (NBOs) that were submitted.

Port Talbot plant will see the UK government make one of the largest-ever investments in the steel industry as they collectively move towards sustainable production. The steelmaker will be setting up a three-million-tonne electric arc furnace (EAF) at Port Talbot, which will not only lower carbon emissions, but will also be high on profitability. Tata Steel will save as much as 150 on every tonne of steel that it will produce at this plant, which in turn, will boost its operating profits to 8-10%, chief financial officer and executive director Koushik Chatterjee tells Nikita Periwal in an interview.

Turns out Perpetual’s decision to part ways with Pendal’s head of global equities Ashley Pittard and tech portfolio manager Thomas Rice was the tip of the iceberg.

European Central Bank cuts interest rates in the first half of next year would be a mistake, according to Governing Council member Martins Kazaks. Wage growth in the euro zone hasn't yet peaked and it's unclear how quickly underlying inflation will retreat, the head of Latvia's central bank said. Last week's decision to lift borrowing costs for a 10th straight time puts the ECB more solidly on track to reach its 2% target in 2025, but it's too soon to exclude another hike. “The market shouldn't expect that we would jump too early to cut rates,” Kazaks said in an interview. “We'll start cutting rates when we see that we consistently and significantly start to undershoot our target, and what I can say clearly is that expectations of a rate cut in spring or early summer in my view are not really consistent with the macro scenario that we have.” Traders are starting to price cuts from April of next year and some economists see them as early as June. Projections presented last week show that inflation in the 20-member euro area will take another two years to reach 2%, even as price pressures are set to slow sharply in the coming months. The economy is seen returning to quarterly growth rates of 0.4% in 2024 after stagnating for most of 2023.

NEW DELHI : The Union government is working on a production-linked incentive (PLI) scheme worth ₹12,000 crore for heavy machinery used in mining and construction, two people aware of the development said. The heavy industries ministry is currently seeking industry inputs on product coverage, implementation and quantum of incentives, the people said on condition of anonymity. The scheme size may vary between ₹8,000 crore and ₹12,000 crore, but discussion on this is yet to conclude.

independent director of private sector Dhanlaxmi Bank has resigned from the bank's board citing factionaism on the board as well as unethical conduct of the bank's businesses which includes misusing the one-time settlement mechanism for bad loan resolution. The director, Sridhar Kalyanasundaram, who was appointed to the board in December last year, wrote a tell-all resignation letter to the board detailing his differences regarding rights issue of shares, complained of lack of support from other board members and raised concerns over their ‘lack of in depth banking knowledge’. He has also pointed fingers at Reserve Bank of Indias' nominee director for overlooking the alleged bad loan settlement irregularities. «I was having little or no support from the other members of the board on thevarious issues affecting the bank — mainly due to lack of depth of knowledge in banking and also due to the factionalism in the board,» he wrote.

trauma care system which will be woven into the Ayushman Bharat scheme to expand its outreach to people at the lowest levels and reduce cost of emergency services. The move is aimed at providing worldclass emergency services to prevent large numbers of deaths from road accidents and providing trauma care in other emergencies, including disasters. The plan is to develop a national policy for triage (preliminary assessment of patients or casualties) while laying out standardised protocols for care, establishing world-class ambulance services with effective paramedics and significantly enhancing the number of blood banks.Niti Aayog is in talks with stakeholder ministries, including ministries of health and family welfare and road transport and highways, to develop a strong, holistic ambulance-emergency-trauma care system, a senior government official told ET.

₹3.54 trillion, advance tax collections in this fiscal year’s first half have reportedly been a fifth greater than last year’s, with the final figure likely to rise a bit as it doesn’t include all payments till the second quarter’s 15 September deadline. Corporate tax revenue made up ₹2.8 trillion, while the rest came from personal income tax.

Manipur. He is survived by his wife & 2 children," the Public Relations Officer (PRO) and spokesperson, Ministry of Defence, Nagaland, Manipur & Rest of Arunachal Pradesh wrote on X (formerly Twitter). Sepoy Kom's 10-year-old son is the only eyewitness to his abduction and he claimed that three men came to his house while he and his father were working on the porch.

Maruti Suzuki, Bajaj Auto, TVS Motor Company and Eicher Motors are among Indian automakers working on range of eco-friendly technologies, including biogas, flex-fuel and ethanol, to achieve the government’s goal of clean mobility in line with the Global Biofuels Alliance (GBA) announced at the G20 Summit. While two-wheeler makers such as Hero MotoCorp, Bajaj Auto, and TVS are looking to commercially launch one model each running on flex fuel by October 2024, carmakers such as Maruti Suzuki are developing vehicles powered by biogas which would be carbon neutral. For passenger vehicles, the timelines for mass introduction of flex fuel vehicles have been set at April 2027 given the complex product mix and volume constraints. Vinod Aggarwal, president of industry body Society of Indian Automobile Manufacturers (Siam) said there has been significant progress in biofuels and alternate fuels. “The industry has showcased flex fuel vehicles on pilot basis in both two wheelers and passenger cars.

market capitalization in 2023 included four technology companies, one social media platform, and one online marketplace. In 2009, their collective number was one. In 14 years, digital companies, led by data usage, have challenged the neoclassical approach to business.

By David Shepardson

Defence Ministry has approved the procurement of a regiment of 'Pralay' ballistic missiles for the Indian Army for deployment along the Line of Actual Control (LAC) and Line of Control (LoC), that is, borders with China and Pakistan respectively. «This is a major decision for the Indian Army as the proposal to acquire a regiment of the Pralay ballistic missiles which can hit targets between 150-500 Km, was cleared by the recent Defence Acquisition Council meeting,» defence officials told ANI. The Army would be deploying these missiles with conventional warheads and using them in tactical roles. The decision to buy these missiles comes soon after a similar proposal was cleared by the government for the Indian Air Force, they said. As per sources, the acquisition of these ballistic missiles is being seen as a big development for the country which now has a policy that allows the use of ballistic missiles in tactical roles. «Both China and Pakistan have ballistic missiles which are for tactical roles.

West Nile virus, including fatalities among residents. Here's an overview of the situation and the potential risks associated with this mosquito-borne illness.