Target Financial News

midcap and smallcap indices, outperformed largecaps by notable margins in the month of August 2023. During the month, sector rotation was visible in the market in which media, IT, and pharma indices delivered positive returns while banks, financial services, energy, commodities, and PSU banking indices witnessed weakness.

Multibagger stock: BCL Industries shares are one of the multibagger stocks that Indian stock market has delivered in recent post-Covid rebound. Shares of this multibagger small-cap company which deals in FMCG, real estate and chemical segment has risen from around ₹40 to ₹490 apiece levels on NSE in stock market rebound after the Covid-19 sell off, delivering more than 1100 per cent return to its positional shareholders. However, InCred Equities sees more upside in the stock.

₹25 per quintal is anticipated for SAP for the 2023–2024 season. Uttam Sugar Mills (up over 6%), Ugar Sugar Works (up over 4%), Mawana Sugars (up over 3%), K M Sugars Mills (up over 6%), Dalmia Bharat Sugar & Industries (up nearly 7%), Sakthi Sugars (up nearly 5%), Avadh Sugar & Energy (up over 8%), Balrampur Chini Mills (up over 2%), Bajaj Hindusthan Sugar (up nearly 14%), Triveni Engineering & Industries (up over 6%) were all trading in the green zone. Uttam Sugar Mills share price, Avadh Sugar & Energy share price, Bajaj Hindusthan Sugar share price, Triveni Engineering & Industries share price touched new 52-week high in today's session.

As On-Chain Summer continues to grip DEX markets, Shiba V Pepe token ($SHEPE) has emerged as the weekend's biggest breakout - after skyrocketing +5,000%.

WSB Real Estate Partners has raised over Rs 850 crore through its residential property debt fund WSB Real Estate Debt Fund II (WSBREDF II) surpassing its initial target commitment of Rs 500 crore The total commitment includes the fund and an option to its investors to co-invest in specific transactions. The fund will focus on investing, through structured debt, in residential real estate projects serving the mid-income and affordable housing segment across select tier I cities and look to partner with developers with robust execution and delivery track record. The fundraise has witnessed active participation from including large family offices, corporates, offshore investors, and high networth individuals (HNIs). “This is a testament to the investors’ confidence in our ability to identify and execute real estate opportunities for providing attractive risk-adjusted returns. In the current fund,WSBREDF II, over two-thirds of the fund is deployed across 12 transactions, securing two exits with a 23% gross internal rate of return (IRR),” said Kaushik Desai, managing partner and investment committee member of WSB. The fund has partnered with developers including Bollineni Group, Shapoorji Pallonji and Jain Housing. According to Desai, over 12,000 homes have been developed and delivered through its portfolio projects in the last 4-5 years across over 40 projects. Since its inception in 2013, WSB Real Estate Partners has managed and committed over Rs 2,000 crore of debt capital to the residential real estate space.

Indian stock market witnessed a decent rally in the last couple of months, especially in the Midcap and Smallcap space. The benchmark index Nifty 50 and the S&P 500 are up 10% and 14% respectively over the past year. Analysts said the Indian economy stands at a sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy.

Bharat Forge share price rose almost 2 per cent to hit its fresh 52-week high of ₹1,096 in intraday trade on BSE on Monday. The stock opened at ₹1,086 against the previous close of ₹1,078.15 and rose 1.7 per cent to scale its fresh one-year peak of ₹1,096. Over the past year, the shares of a diversified company with interests spanning multiple sectors, including automotive, railways, defence, construction, mining, aerospace, marine, and oil and gas, have been on a remarkably bullish trajectory.

Mint breaks down the development: At the start of 2023, the India-Canada relationship was thought to be on an even keel. Canada’s foreign minister Melany Joly visited India twice in just a month and spoke about a free-trade agreement between the two countries. However, trouble began to surface after a spate of attacks from pro-Khalistan groups on India’s embassies and consulates across the world.

Chris Ellison’s Mineral Resources is the mystery bidder that has signed an implementation deed to buy West Australian lithium mine Bald Hill out of administration.

phishing, can have serious consequences, impacting personal information and causing disruptions. In the realm of these digital dangers, one method stands out for its sheer deviousness and deceitfulness — social engineering. Unlike other cyber threats that exploit software or hardware vulnerabilities, social engineering targets the very essence of human psychology.

Wind farm developers in NSW say their projects are being stalled by approval delays, community objections and slow connections to the power grid, putting at risk investments needed to help retire coal and reach Australia’s renewable energy targets.

railway stocks Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam (RVNL), and Jupiter Wagons rallied up to 19% in Monday's trade backed by heavy volumes on the NSE. IRFC topped the volume chart on NSE. The stock surged over 19% at Rs 66, as 22,30,99,748 shares worth Rs 1,404.6 crore changed hands on the counter. IRFC also delivered multibagger returns to its investors, as the stock has rallied 100% year-to-date.

Stock market today: Railway stocks witnessed heavy buying interest dur4ing morning deals on Monday. Indian Railway Finance Corp or IRFC share price today opened with an upside gap and went on to hit a new high of ₹66.40 on NSE.

Coal India share price rose 5 per cent in morning trade on BSE on Monday, looking set to extend its winning run into the third consecutive session. The stock opened at ₹238.05 against the previous close of ₹236.85 and rose 4.7 per cent to ₹248.90 in trade so far. The stock traded 5.05 per cent higher at ₹248.80 on BSE around 11:35 am.

Nazara Technologies share price jumped over 12% to hit a 52-week high on Monday after the company’s board approved to issue shares worth ₹100 crore to Zerodha’s founders Nikhil Kamath and Nithin Kamath. Nazara Technologies shares rallied as much as 12.46% to ₹853.80 apiece on the BSE.

While PwC Australia’s top brass has been busy selling their government consultancy arm to Allegro Funds, its dealmakers have drummed up a consultancy client to show to prospective buyers.

₹1,789.05 apiece on the BSE. On 1 September, Kotak announced to step down as managing director and chief executive officer of the bank and the baton was passed to Dipak Gupta, the Joint Managing Director at Kotak Mahindra Bank. Gupta will carry out the duties of the MD and CEO until 31 December, which is subject to the approval of the RBI and the members of the bank.

Stock market today: Yes Bank shares extended its Friday rally for yet another session on Monday morning deals and hit intraday high of ₹18.60 apiece on NSE within few minutes of stock market's opening bell today. After climbing to intraday high of ₹18.60 per share levels, Yes Bank share price has gained to the tune of 11 per cent in two straight sessions.

Tata Power Company with a target price of Rs 266. The current market price of Tata Power Company is Rs 256.75.

Comex is closed for trading today on account of US Labour day. Gold futures ended at $1,965.35 per troy ounce on Friday, down by $1 or 0.05% while Silver futures closed at $24.530, lower by $0.003 or 0.010%. The DXY was trading at 104.16 against a basket of six top currencies, though the bias ws negative. The October Gold futures had ended with gains of Rs 36 or 0.06% per 10 gram at Rs 59,410 on Friday while the December Silver futures closed lower at Rs 75099, down by Rs 583 per kg or 0.77%. «Gold's value increased during the week due to optimism about the Federal Reserve ending its tightening cycle as the US jobs report showed controlled cooling in the labor market, with solid hiring, slower earnings growth, and more people returning to work,» Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies said. On the daily chart, the October Gold contract is showing a pattern of higher highs and higher lows, which indicates a bullish sentiment while the RSI indicator is forming an upward trendline, suggesting that prices might move higher in the upcoming days, Qureshi said. The momentum indicator MACD has shown a positive crossover which signals bullish trends in the gold prices, this analyst said while putting resistance around Rs 59,600 — Rs 60,000 while support at Rs 59,150 — Rs 58,900 levels. Analyst Amit Khare Associate Vice President at Ganganagar Commodity sees some profit booking in gold with momentum indicator RSI indicating the same. His advice to traders is to book their long positions and they can make fresh short positions in gold and silver near a given resistance level.