Target Financial News

Growth in India's dominant services industry lost some steam in August but overall conditions remained strong despite elevated inflationary pressures, according to a business survey that showed exports were at a record high on robust foreign demand. Tuesday's findings, coupled with a sister survey on Friday which found factory growth expanded at its fastest pace in three months, suggest Asia's third-largest economy will be the fastest-growing major country despite slowing global growth. The S&P Global India services Purchasing Managers' Index fell to 60.1 in August from 62.3 in July, lower than the Reuters poll expectation of 61.0. Still, the reading was above the 50-mark separating growth from contraction for a 25th consecutive month — the longest stretch since August 2011. «This spike in international demand supported one of the best sales performances recorded over the past 13 years, and acted as a catalyst for firms to expand their workforces as well as output,» noted Pollyanna De Lima, economics associate director at S&P Global. «Demand strength also fostered a heightened sense of optimism regarding the outlook, boding well for economic growth prospects.» A sub-index monitoring overall demand slowed slightly in August compared to the previous month.

The NSW government will begin talks with Origin Energy on a deal to keep the giant Eraring power station open past 2025, after a report found that prices would spike and the state would face reliability risks if the plant was switched off.

ASX-listed can and bottle maker Orora launched a $1.345 billion equity raising on Tuesday morning, split across a $450 million institutional placement and an $895 million rights issue.

CSR signed up for gas from Senex Energy’s stalled $1 billion Atlas project in Queensland, underlining the depth of demand for fuel from a venture that still hinges on an extended exemption from the gas cap rules and federal environmental approval.

NAB chairman Phil Chronican is “open and attracted” to the idea of linking banker bonuses to climate-related targets, so long as reliable and robust measurements can be found.

The corporate regulator will launch legal action against Westpac on Tuesday alleging it failed to respond to requests from hundreds of its customers struggling with loan repayments over a seven-year period, who wanted to enter hardship arrangements with the bank.

Day trading guide for today: On account of strong global cues, Indian stock market ended higher on second day in a row on Monday. NSE Nifty ended 93 points higher at 19,528 levels, BSE Sensex gained 240 points and finished at 65,628 mark whereas Bank Nifty index went up 142 points and closed at 44,578 levels.

Sensex and Nifty rallied for the second straight session on Monday. The BSE benchmark Sensex climbed 240 points to settle at 65,628, while Nifty rose 93 points to end at 19,528.80. Stocks that were in focus included names like Kotak Bank, which fell 0.37%, IDFC First Bank, which gained 5.78%, and Nazara Tech, whose shares jumped 10.20% on Monday. Here's what Riches Vanara, Technical And Derivatives Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.Kotak Mahindra Bank — BuyOn the weekly chart, the stock has been trading in a range of 3% since the last 4 weeks and the only positive thing in this setup after a sharp sell off is that the stock is not making a new low. This seems to be a positive sign and can be seen as supply is getting exhausted.

Indian stock market is likely to open lower on Tuesday following weak global cues. The trends on Gift Nifty also indicate a weak start for the Indian benchmark index. The Gift Nifty was trading at around 19,593 level as compared to the Nifty futures’ previous close of 19,614.

Buy or sell stocks for today: Following strong global market cues on strong US job market buzz, Indian stock market ended higher on Monday. NSE Nifty gained 93 points and closed at 19,528 levels, BSE Sensex went up 240 points and finished at 65,628 mark whereas Bank Nifty index added 142 points and ended at 44,578 levels.

stock market rally is strong enough to withstand another leg higher for bond yields, according to the latest Markets Live Pulse survey. With the soft-landing narrative for the world's biggest economy gaining traction, the majority of 331 respondents expect losses for S&P 500 Index to be contained to less than 10% should yields on the 10-year Treasury resume their climb and hit 4.5%. That would allow the US equities benchmark to hold on to some of its 18% year-to-date gains. «If we get higher interest rates and bond yields, it will probably be because the macro economy surprises on the upside,» said Christopher Hiorns, portfolio manager at EdenTree Investment Management Ltd.

Delhi Police have started conducting vehicle checking at various locations across the national capital ahead of the upcoming G20 summit on September 9 and 10 here. Surprise checks were conducted at India Gate and other parts of the city between Monday night and early hours on Tuesday. Police personnel were seen conducting thorough inspections by halting vehicles. Earlier on Monday, Union Minister of State for External Affairs and Culture Meenakashi Lekhi said that paramilitary forces, Delhi police and several other people are engaged in providing security at the G20 Summit. «So I must say that so far as safety, security, et cetera are concerned, that arrangement is being looked after by various departments, including paramilitary forces, Delhi police and several other people are engaged in that process,» Meenakashi Lekhi said while speaking to ANI. She also highlighted the diversity of the G20 Summit, held under India's presidency, saying, «We've had about 52 locations and 250 plus events. So 250-plus conferences is not a joke to handle.

Starfield is full of various threats during your cosmic journey, including humans, pirates, and aliens. Among them, turrets can be particularly troublesome. Fortunately, disabling them is the way forward. Here's a guide to tackling these pesky adversaries.

Johnson & Johnson plans to tap billions in proceeds from the recent split-off of its consumer-health business to fuel growth in pharmaceuticals and medical technology through capital allocation, which could include new acquisitions and investments in product offerings and robotics. The New Brunswick, N.J.-based healthcare giant in May sold shares in Kenvue, which owns brands such as Band-Aid and Tylenol, through an initial public offering that netted J&J $13.2 billion in cash. In August J&J shed about 80% of its Kenvue shares through a roughly $40 billion split-off, whereby some investors chose to trade in their shares of J&J for Kenvue ones.

NEW DELHI : India’s National Investment and Infrastructure Fund Ltd (NIIF) and private equity firm Actis Llp are among four contenders vying to acquire Macquarie Asset Management’s Green Investment Group platform Vibrant Energy, two people aware of the development said. Vibrant Energy has a 1.5-gigawatt (GW) portfolio in the commercial and industrial (C&I) sector. JP Morgan is managing the transaction with four bidders being shortlisted from among the non-binding offers submitted for the deal valued at around $250 million.

ABFRL) last year, is set to expand the share of business under LoveChild By Masaba, her beauty line. Gupta, known for designing bold prints and fusion outfits, unveiled her beauty line in 2016-17 as a limited edition of lip colours in association with Hindustan Unilever Ltd’s Lakme brand. The designer-turned-actor also partnered beauty retailer Nykaa to sell lip colours, fragrances and nail paints.

By Jan Schwartz

debt levels and bring them closer to the Fiscal Responsibility and Budget Management goal of 20%, a recent study by economists at Bank of Baroda stated. The study suggested debt to GDP ratio at 25% as a short-term goal and the interest to revenue receipts ratio targeted at around 15%. “This can be a good beginning with roadmaps drawn up for various states,” the research stated. Four states will allocate more than 15% of their revenue towards interest payments in FY24, with Punjab contributing nearly a quarter of its revenue to interest payments, the research found. The study, analysing budget data for FY24 for 27 states, pointed that only three states in the country were closer to their FRBM target of 20% debt to Gross State Domestic Product ratio, whereas 15 were over 30%. “The problem is that when debt levels are high interest payments increase, which strains the revenue budget,” said Madan Sabnavis, chief economist, Bank of Baroda. While the study placed Odisha as the best state having controlled its debt, fiscal deficit and interest payment levels. It placed Punjab as the worst, with high levels of debt, fiscal deficit, interest payment ratios and outstanding guarantees. “Himachal Pradesh is however more vulnerable as the debt servicing ratio is high.

By Karin Strohecker and Vincent Flasseur

NEW DELHI : The government will examine the quantifiable implications of the monsoon shortfall, and the impact on rural consumption and demand, Chief Economic Advisor to the government, V. Anantha Nageswaran said in an interview. Nageswaran also said supply-side measures taken by the government to tame inflation will see success in the medium to long term.

DGFT on Monday said it has suggested banking and financial institutions to extend pre- and post-shipment export credit in foreign currency to e-commerce exporters based on the guidelines of the RBI.