Target Financial News

MA Financial’s growth ventures business has inked a $20 million raise in energy start-up Upstream.

PwC Australia spin-off Scyne Advisory has replaced the embattled big four firm as a pre-vetted supplier of cloud computing services for the Commonwealth, and its consultants have won new work from a federal and Victorian departments.

Ambitious Pan-Asian renewable energy developer Carbon Resilience is seeking to capitalise on the rush to secure early-stage renewable development assets, kicking off a sales process for its 14-gigawatt development portfolio in Queensland.

NBN Co will not seek more revenue per user this year despite increasing inflation, as it prepares its fourth attempt at setting new pricing for retailers including Telstra, TPG and Optus.

Downer EDI chief executive Peter Tompkins has pledged to deliver consistent earnings and monitor project performance more carefully after the contractor hired a new chief risk officer and sealed an annual net loss of $386 million.

Hindalco Industries Limited has entered into a partnership with Texmaco Rail & Engineering Limited to develop and manufacture aluminium rail wagons and coaches. The companies will aim to build a world-class manufacturing facility in the country, Hindalco said in a statement on Thursday.

repo rate and GDP growth forecast unchanged at 6.5 per cent, said Governor Shaktikanta Das while announcing the rate-setting panel’s decisions. «The MPC decided to remain watchful and evaluate the situation,» said governor Das. The rate-setting panel unanimously opted to hold the key lending rate steady, in-line with analysts' expectations. The repo rate, the key policy rate at which the RBI lends to the banks, was last increased in February 2023 by 25 basis points (bps). The RBI had kept the rate unchanged in April and June meetings, after hiking rates cumulatively by 250 bps. We take a quick look at economists’ view of RBI’s latest decisions.Dr. Aurodeep Nandi, India Economist and Vice President at Nomura

PNB Housing Finance, part of the housing finance segment, have rallied more than 30% in the last three months which has helped the stock to close above the descending trendline resistance on monthly charts and stage a breakout from Cup and Handle pattern on the weekly charts. The breakout on both monthly and weekly charts has opened room for the stock to head towards 800-900 levels in the next 3-6 months, which would take the stock to a fresh 52-week high, suggest experts. The housing finance stock rose from Rs 458 hit on 6 April 2023, to Rs 620 recorded on 7 August 2023, which translates into an upside of 37% in the last 3 months.

«I would tend to see that the broad message of the policy as very much in line with expectations, very justifiably highlighting inflation risks, revising the Q2 numbers and so forth,» says Abheek Barua, Chief Economist, HDFC Bank.Was the stance really that hawkish for the market to fall the way it is because it is pretty much along expected lines? Yes, you described the key elements of the policy but one thing that you did not sort of refer to was this incremental CRR. It might be temporary, it could just be viewed as a technical measure but if you see it as an additional monetary policy signal and sort of a tightening signal at that, indicating that the RBI is not comfortable with current levels of liquidity, whatever the drivers may be, then I think that is the bit which was not priced in by the market.

repo rate is the rate of interest at which RBI lends to other banks. "As we celebrate India’s 77th Independence Day in a few days, I am happy to note that the Indian economy is exuding enhanced strength and stability despite the massive shocks to global economy in recent years. Our economy has continued to grow at a reasonable pace, becoming the fifth largest economy in the world and contributing around 15 per cent to global growth.

Shaktikanta Das led the monetary policy committee (MPC) unanimously decided to keep the repo rate unchanged at 6.50 per cent for the third straight meeting in a row. The MPC also decided to keep the policy stance unchanged as ‘Withdrawal Of Accommodation’. “The monetary policy committee unanimously decided to keep the repo rate unchanged at 6.50 per cent.

RBI) governor Shaktikanta Das on Thursday said that India is contributing approx 15% to global growth. Das announce the third bi-monthly monetary policy for FY24 today. The three-day meeting of the six-member Monetary Policy Committee (MPC) of RBI was held from August 8 to 10.

RBI) Governor Shaktikanta Das on Thursday said that India is contributing approximately 15% to global growth, leading to the country's strong macroeconomic fundamentals and growth. During the MPC meeting today, Das said that the GDP growth forecast for April-June 2024 is pegged at 6.6%. “GDP growth projection for FY23-24 retained at 6.5%.

Meanwhile, from the Indian standpoint, investors will be keenly looking at the monetary policy announcements during the day. The October gold futures were trading with losses at Rs 58,966 per 10 grams on the MCX in the opening trade, down Rs 282 or 0.48%. Meanwhile, September Silver futures were trading at Rs 69950, down Rs 266 or 0.38%.

The Reserve Bank of India has raised inflation aim to 5.4% from 5.1% forecast in June policy. The central bank today also held the benchmark rate steady for a third straight time at 6.5% and also retained stance by five-to-one vote to focus on withdrawal of accommodation. El Nino weather conditions and global food prices need to be watched closely and these developments warrant a heighetned vigil, RBI Governor and MPC Chair Shaktikanta Das said while announcing the policy decisions.

United States likely rose in July for the first time in 12 months, driven higher by more expensive gasoline and suggesting that the fight against rising prices may prove bumpier in the months ahead. The inflation report the government will issue Thursday is expected to show that consumer prices increased 3.3% from 12 months earlier. That would mark an uptick from a 3% year-over-year increase in June — the lowest such figure in more than two years.

Zomato post its Q1 results and CLSA has a buy view on Oil India. Goldman Sachs remains neutral on ZEEL while recommending a sell on Avenue Supermarts. Morgan Stanley has an equal-weight stance on Trent.

Sun Pharmaceutical Industries with a target price of Rs 1164. The current market price of Sun Pharmaceutical Industries is Rs 1154.65.

Hindalco Industries with a target price of Rs 472. The current market price of Hindalco Industries is Rs 467.3.

Also read: The Other A.I.: Artificial Intimacy With Your Chatbot Friend Kuldeep Yadav has been credited as the inventor of this AI-driven accident prevention system. The patent application was officially filed on February 2, 2021, and the patent certificate, as shared by the Indian Army, indicates that it will remain valid for a duration of 20 years. The patent was officially granted on July 11.

Phoenix Mills reported strong June quarter numbers on Tuesday, brokerage firm Motilal Oswal Financial Services has downgraded the stock to a 'neutral' from a 'buy' and fixed the target price of ₹1,845, implying a 10 per cent upside potential. Motilal downgraded the stock because of the recent sharp gains in stock prices in the last one year. The stock has jumped over 33 per cent against a nearly 24 per cent gain in the BSE Realty index and a 12 per cent gain in the equity benchmark Sensex in the last one year.