Target Financial News

Our vision is to be a leading force in sustainable, innovative, and community-centric real estate development. We aspire to create iconic landmarks that stand the test of time, leaving a positive legacy for generations to come. By embracing technological advancements, sustainable practices, and a people-first approach, we aim to shape the future of commercial real estate in a way that benefits society, the environment, and all those who interact with our developments, says Sudhanshu Rai, Director of Ashrai Group.

By Shalini Sharma

farming robot in Brazil and in the United States, CEO Britaldo Hernandez said in an interview, in a sign of growing demand for "precision agriculture" tools in two of the world's largest food producers. Sold at a price of $50,000, the Solix AG Robotics unit can scout crops and monitor the development of individual plants, as well as target spray herbicide to save costs.

Also Read: Stocks to Buy: Tata Steel, JSW Steel, Jindal Steel & Power among top bets in metal sector It believes M&As could help new players to secure competitive advantages such as brands, distribution and stronger connect with painters. ICICI Securities advises investors to stay underweight in paint stocks. It believes the likely increase in competitive intensity may hurt industry profitability and cap valuation multiples.

Tim Goyder, Chalice Mining’s largest shareholder, says a slump in the critical minerals explorer’s share price is an overreaction by a market that wants “a bed of roses” and needs to “get real” about long-term value.

Swiggy is working with banking and telecom firms to roll out bundled plans that include Swiggy One subscriptions. The company is also experimenting with different pricing and service tiers for the subscriptions, people in the know of the matter told ET. Buyers of telecom subscriptions and banking products such as credit cards will get Swiggy One as part of their package under a B2B programme called Swiggy One Lite. Swiggy One’s bundling exercise comes after rival Zomato reintroduced its ‘Gold’ subscriptions in January. The latter claimed Zomato Gold had 1.8 million subscribers as of the quarter ended March 2023. Swiggy One’s subscription stands in “the low-single-digit millions”, a person in the know told ET, without giving a specific number.

According to FT's report, the surveillance system is installed on subsea cable landing stations, which allows India's security agencies to snoop on the personal data and communications of its 1.4 billion citizens. Israel-based Septier has reportedly sold its lawful interception technology to telecoms groups including Mukesh Ambani’s Reliance Jio, the Vodafone Idea, and Singapore’s Singtel. According to the promotional video of Septier, its technology extracts “voice, messaging services, web surfing and email correspondence" of targets.

HDFC Bank with a target price of Rs 1755. The current market price of HDFC Bank is Rs 1592.5 JM Financial recommended to keep stop loss at Rs 1505. HDFC Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 1200357.94 Crore). HDFC Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2023.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 61021.29 Crore, up 6.76 % from last quarter Total Income of Rs 57158.84 Crore and up 38.05 % from last year same quarter Total Income of Rs 44202.32 Crore.

Gillette India with a target price of Rs 6090. The current market price of Gillette India is Rs 5534. Gillette India, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 18023.05 Crore) operating in FMCG sector. Gillette India key Products/Revenue Segments include Personal Care for the year ending 30-Jun-2022.Financials For the quarter ended 30-06-2023, the company has reported a Standalone Total Income of Rs 624.22 Crore, down -1.05 % from last quarter Total Income of Rs 630.84 Crore and up 12.59 % from last year same quarter Total Income of Rs 554.41 Crore.

G R Infraprojects rose over 4% to Rs 1,425 in Wednesday's trade on BSE after the firm's arms executed a concession agreement with the National Highways Authority of India (NHAI). GR Belgaum Raichur (PACKAGE‐5) Highway Private Limited and GR Belgaum Raichur (PACKAGE‐6) Highway Private Limited, wholly owned subsidiaries of the company, have executed the concession agreement for projects worth Rs 1,457.24 crore with the NHAI on August 29, 2023. The project included 4 lanes with paved shoulders in the Belgaum – Hungund – Raichur Section of NH‐748A in Karnataka on a hybrid annuity mode under NH(O) (Package‐5). The bid project cost is Rs 716.47 crore and is to be completed in 730 days from the appointed date. The second project relates to the construction of 4 lane with paved shoulders in the Belgaum – Hungund – Raichur Section of NH‐748A on hybrid annuity mode (Package‐6) under NH (O).

Jio Financial Services hit the 5% upper circuit on Wednesday following a likely block deal in pre-market trade wherein 12.7 lakh shares of the company changed hands. The development invited a strong investor response with over 1.58 crore shares trading on the NSE in the opening trade. The block deal reported by ET NOW is the second in a row and follows a deal on Tuesday which saw 0.8% equity changing hands.

Suzlon Energy hit a 5% upper circuit at Rs 26 in Wednesday's trade on BSE, taking their winning run to the fourth straight session as sentiment for the stock ran high. Meanwhile, in the last four trading sessions, Suzlon Energy shares have surged over 20%. Suzlon Energy also delivered multibagger returns to its investors, as the stock has rallied over 140% year-to-date. It has also jumped over 200% in the last six months and gained over 350% in the past two years. Earlier last week, the firm announced a significantly large new order acquisition for its 3 MW series of wind turbines from Teq Green Power XI Private Limited, part of O2 Power Private Limited. Suzlon will install 64 of its largest wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each for the 201.6 MW wind power project, the company said in an exchange filing. Suzlon will supply the wind turbines (equipment supply) and execute the project including erection and commissioning.

UPL with a target price of Rs 607. The current market price of UPL is Rs 603.8.

Gold price in focus as safe haven; should you increase your exposure to gold? Around 10:20 am, MCX Gold for October 5 delivery traded 0.11 per cent higher at ₹59,330 per 10 grams. Experts believe gold prices may trade with a positive bias today. Ravindra Rao, CMT, EPAT, VP – Head Commodity Research, Kotak Securities pointed out that the US ADP non-farm employment change and the second estimate of Q2 GDP are due later today.

President Joe Biden is touting his administration's efforts to lower medical costs

Rail Vikas Nigam with a target price of Rs 145. The current market price of Rail Vikas Nigam is Rs 128.9. Rail Vikas Nigam, incorporated in the year 2003, is a Mid Cap company (having a market cap of Rs 27272.06 Crore) operating in Construction sector. Rail Vikas Nigam key Products/Revenue Segments include Income From Construction Work for the year ending 31-Mar-2022.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 5853.18 Crore, down -2.05 % from last quarter Total Income of Rs 5975.88 Crore and up 19.98 % from last year same quarter Total Income of Rs 4878.33 Crore.

India VIX was down by 1.41% from 12.39 to 12.22 levels on Tuesday.

Zomato, CLSA maintained an underperform rating on UltraTech Cements, Motilal Oswal has a buy on M&M Financial Services and Prabhudas Lilladher recommends a buy on Navneet Education.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: HSBC on Zomato: Buy| Target Rs 120 HSBC maintained a buy rating on Zomato but raised the target price to Rs 120 from Rs 102 earlier. A deep dive into hyperlocal further raises our conviction on the long-term value of Blinkit, said the HSBC note. The value for Blinkit is now at $5 billion. In the next 3-4 years, HSBC believes that Blinkit can achieve 6-7% contribution margin (CM) and 3-4% EBITDA margin. Hyperlocal could be a much bigger business for Zomato in the long term.CLSA on UltraTech Cements: Underperform| Target Rs 8400 CLSA maintained an underperform rating on UltraTech Cements but raised the target price to Rs 8400 from Rs 7900 earlier. The global investment bank expects the company to report industry-leading growth and profitability.

Niranjan Gupta, CEO, Hero MotoCorp, says “the first target is to cross 100 cities by December, which is what we have said and we are well on track on that. Thereafter, we are going to put products in the mid and the affordable segments. That will be the plan for FY25. FY24 is about 100 cities and FY25 is about putting products in the mid and affordable segments because right now our product is at the top end of the EV market.”As part of its plan to rapidly grow the premium two-wheeler segment, Hero Motocorp has reintroduced the two-decade-old brand Karizma and launched Karizma XMR. Will you also be launching and relaunching in other segments?We already have strong products in the entry and deluxe segments. There is HF Deluxe, Splendor Plus, Super Splendor, Glamour, Passion. We brought in, of course, the Glamour and its own classic avatar and Passion again, which we relaunched. So, that part on a portfolio basis is very strong. Our job is to build a portfolio in the premium segment while in the entry and deluxe segments, it will be more about the refreshes which will keep coming.

International Cricket Council (ICC) and the Board of Control for Cricket in India (BCCI) collaborated with Mastercard, reserving a portion of the ODI World Cup tickets for India matches to be accessible to Mastercard holders starting August 29. However, the designated ticketing partner, BookMyShow, encountered a few hurdles, prompting a wave of disappointment among fans who eagerly anticipated snagging their seats via the platform. “What a scam!! Such a pathetic ticket booking system for ICC Cricket World Cup.

“FIIs also who have missed the rally in Indian markets also are looking at mid-cap companies with better earnings visibility and for better growth opportunities,” says Dr Poonam Tandon, Chief Investment Officer at IndiaFirst Life. In an interview with ETMarkets, Tandon said: “We do believe renewable energy is one of the emerging sectors of the next decade. Nearly 80% of energy requirements are met by coal, oil, and biomass” Edited excerpts:Will another rate hike by the US disrupt equity markets?The minutes of the US Fed’s last policy meeting indicated that interest rates may have to remain higher for longer given the uncertainty around the inflation outlook in the US.