Target Financial News

MUMBAI : Poonawalla Fincorp Ltd might look at private equity (PE) investments for achieving its business targets, the company’s chairman Adar Poonawalla, said in an interview. After selling its housing finance business to TPG earlier this year, the group has enough headroom to pursue both organic and inorganic growth, he said. The leverage at present is quite modest—remaining below two times, Poonawalla added.

producer price index, which measures inflation before it hits consumers, rose 0.8% last month from July 2022. The latest figure followed a 0.2% year-over-year increase in June, which had been the smallest annual rise since August 2020. While modest, the increase in wholesale prices last month could help persuade the Federal Reserve that its work on bringing inflation to heel isn’t done.

It used three variables: Central bank policy rate. Gap between targeted and actual inflation rate. Output gap, or difference between the actual and potential growth rate.

NEW DELHI : UltraTech Cement Ltd will work towards achieving a production capacity of 200 million tonnes (mt), chairman Kumar Mangalam Birla said on Friday, up from its existing commissioned capacity of nearly 138 mt. “This scorching pace of expansion is unprecedented in the sector. Completion of all the capacity expansion projects currently underway will take your company’s cement production capacity to 160-plus mtpa (million tonnes per annum).

Electric vehicle sales in the country are expected to hit the 10 lakh annual sales mark by the end of the decade, Tata Motors, which anticipates green vehicles to account for 50 per cent of its total sales by that period, said on Friday. The Mumbai-based auto major, which crossed 1 lakh cumulative EV sales milestone, currently gets 14-15 per cent of its overall sales from electric models on a quarterly basis. «Five years back, electric vehicles used to sell just 90 units a month. Today these sell 8,500 to 9,500 units a month, which is like 100 times more...five years back the industry had sold about 2,000 cars and we are talking about already an annualised run rate this year of more than one lakh units so it's a 50 times growth,» Tata Motors Passenger Vehicles Managing Director Shailesh Chandra told reporters. Chandra, who also heads the company's passenger electric mobility vertical, noted that with enhanced charging infrastructure and with other automakers also entering the EV space, the vertical is set for sustained growth.

₹13,000 crore ($1.6 billion), news agency Reuters quoted a top trade official on 11 August as saying. As per details, the government pays local manufacturers -- under the $24 billion scheme -- when targets such as sales are met, aiming to boost investment in manufacturing.

₹1,688 crore, up 7% YoY, and net revenues of ₹17,737 crore were up 16.97% YoY. The company also recorded over 100 MT sales volume in the fiscal year.

retail sales. Given the small size of the business relative to the regulatory issues it creates, the company last year discussed offering to exit from the business as a concession to the FTC if the agency followed through with its lawsuit, the Journal reported. It couldn’t be determined whether Amazon has offered to regulators to exit from the business.

Hindustan Times. Raghav Chadha had proposed the constitution of a Select Committee to consider the Government of National Capital Territory of Delhi (Amendment) Bill, 2023 and had included the names of the four MPs. The now suspended AAP MP took to ‘X’, formerly known as Twitter, to post a video questioning the suspension order.

DigitalOcean (NYSE:DOCN) was upgraded from Underweight to Equal-weight by equity analysts at Morgan Stanley Research. The firm also adjusted its price target on the stock, raising it to $36 from $30 previously. The upgrade was tied to views that positives and negatives for the company have evened out.

Russia fired missiles at western Ukraine that killed an 8-year-old boy, local officials said, and drones that Russian officials blamed on the Ukrainian military targeted Moscow for a third straight day but reportedly didn't cause significant damage. Also Friday, Ukrainian President Volodymyr Zelenskyy announced the firing of all the heads of regional military draft boards, part of his crackdown on corruption since the outbreak of Russia's war in Ukraine more than 17 months ago. The missile that killed the boy struck a house In western Ukraine's Ivano-Frankivsk region, about 100 kilometers (60 miles) from the Polish border, according to the office of Ukraine's prosecutor general. But Ukrainian air defenses frustrated Russia's daylight attack on Kyiv, Ukraine's capital. Debris from intercepted missiles fell on residential areas of the city, including the premises of a children's hospital, without causing casualties, local authorities said. Falling wreckage of missiles and drones has in the past killed people on the ground and damaged buildings in Kyiv.

Google cannot avail of protection under the safe harbour clause of the Information Technology Act, 2000, if it uses a trademark as a keyword in its advertisement program. It will also be held liable for trademark infringement in such cases, the court added. A division bench of Justices Vibhu Bakhru and Amit Mahajan was hearing a case related to alleged trademark infringement allegations levelled by DRS Logistics and Agarwal Packers and Movers Pvt Ltd, both constituents of the DRS Group, against Google LLC.

The crisis wrought by US short seller Hindenburg's explosive report against the Adani Group appears to be continuing till date. US-based accounting giant Deloitte is reportedly mulling an exit from Adani Ports in the coming days. The development mere weeks after the Indian unit of the firm raised concerns over transactions between Adani Ports and three entities ‘unrelated parties’ - also flagged in the short-seller's report.

Investment Fund for developing countries, 'Norfund' has announced a fresh investment of ₹350 crore in renewable energy solutions platform Fourth Partner Energy. This is the second round of equity infusion by Norfund into Fourth Partner Energy, following its $100 million investment in June 2021.

CCI has cleared Kotak Special Situations Fund's (KSSF) proposed investment in Biocon Biologics Ltd under the green channel route. In February, KSSF, an arm of Kotak Mahindra Bank, announced a Rs 1,070 crore investment in Biocon to help a subsidiary of the Bengaluru-based company in an acquisition.

Berger Paints Ltd will seek to double its revenue to Rs 20,000 crore by 2028-29, a top company official said on Friday. To achieve it the company will need to expand its capacity to 1.6 lakh tonnes per month from the current 95,000 tonnes per month, Berger MD and CEO Abhijit Roy said during a post-AGM interaction. «We plan to invest Rs 2,700 crore in greenfield and brownfield expansion projects over the next 5-6 years.

At least 3 Wall Street analysts lowered their ratings on Wolverine World Wide (NYSE:WWW) in response to the company’s Q2 results and management change.

Forward Air (NASDAQ:FWRD) stock has experienced a 7.8% decline in pre-market Friday trading as a result of rating downgrades by a minimum of three analysts.

Target (NYSE:TGT) is due to report its second quarter earnings on Wednesday, August 16. The stock was the subject of at least 4 analyst downgrades since June.

Kyiv said Friday that Russian forces had fired four Kinzhal hypersonic missiles at an airfield in western Ukraine, an attack that regional officials earlier reported had left one child dead. «One Kh-47 missile was destroyed within the Kyiv region. The rest hit near the airfield.

Benchmark analysts weighed in positively on Alibaba (NYSE:BABA) after the company delivered “an all-around clean quarter”.