Target Financial News

New Delhi: Rays Power Infra, a solar power company, on Monday said it has signed an engineering, procurement, and construction (EPC) term sheet for a 283-MW solar project with Serentica Renewables, an end-to-end energy solutions company focusing on industrial decarbonisation. Based on the agreement between the two companies, Rays Power Infra shall be responsible for the engineering, procurement, and construction of a 283MWdc solar PV project using single-axis trackers and bifacial modules, it added. “We are pleased to inform you that Rays has signed a 283 MWp Solar EPC project with Serentica Renewables.

The Union government has dispatched a team to Azerbaijan to apprehend dreaded gangster Sachin Bishnoi who is accused of the murder of Punjabi singer Sidhu Moosewala. Sachin Bishnoi who is the nephew of Lawrence Bishnoi has been on the run since the murder of Moosewala and had left the country using forged documents. Meanwhile last week, the National Investigation Agency (NIA) has arrested Vikramjeet Singh alias Vikram Brar, a key aide of jailed gangster Lawrence Bishnoi, following his deportation from the UAE to India.

Gold prices in UAE dipped today, tracking a similar trend in global markets but the yellow metal is set to close the month on a strong note. According to Dubai Jewellery Group, the 24K was today trading at 236.75 dirhams per gram, down from last week's close of 237.25 dirhams per gram last week. 22K and 18 K gold were trading at 219.25 dirhams per gram and 181.75 dirhams per gram respectively.

NITI Aayog is looking into tax anomalies in the textile sector. It had last week convened a meeting of sector related industry bodies to understand the challenges being faced by the sector. “NITI Aayog has sought views of the textile industry on tax related matters that are impeding the growth of the sector,” a senior government official said, adding that the Aayog will firm up its view and make suitable recommendations to the finance ministry for consideration.

Also read: Pro-Khalistani protests outside Indian High Commission target Indian diplomats in UK After the clashes in Bangladesh's capital on July 29, police filed 11 cases against Bangladesh Nationalist Party (BNP) leaders and activists at different police stations over the violence. At least 469 BNP members were named as accused, with 149 arrests made so far.

Pakistan held funerals on Monday for victims of a massive suicide bombing that targeted a rally of a pro-Taliban cleric the previous day as the death toll climbed to at least 45 and the government vowed to hunt down those behind the attack. No one immediately claimed responsibility for Sunday's bombing, which also wounded nearly 200 people. Police said their initial investigation suggests the Islamic State group's regional affiliate could be behind the attack.

₹1,020 level and has also shown a trend reversal with an improvement in the bias. "A further rise is anticipated with the next initial target of ₹1,070 and a further strength sustained can carry it to ₹1,170 level in the coming days. The support could be maintained near ₹980 level of the triangular pattern lower trendline zone," said Parekh.

Piramal Enterprises tanked 8% to Rs 986 in Monday's trade on BSE after the firm reported its June quarter earnings and Rs 1,750 crore share buyback announcement. For the June quarter, the company posted a profit of Rs 508.78 crore compared with Rs 8,155.47 crore in the year-ago quarter. The company had recorded an exceptional gain of Rs 7,613.96 crore on demerged Pharma undertakings in the year-ago quarter.

UK government said Monday it would issue «hundreds» of new oil and gas licences in the North Sea to secure energy reserves while still aiming for net zero carbon emissions by 2050. «Investment in the North Sea will continue to unlock new projects, protect jobs, reduce emissions and boost UK energy independence,» Prime Minister Rishi Sunak's office said in a statement.

₹3,511 crore. This performance provides confidence that the state-owned aerospace and defence company is on track to meet its FY24 revenue growth guidance of 17%. Gross margin stood out as a particularly positive surprise in the June quarter, reaching 43.5%.

«I am willing to tell you with reasonable confidence that before October or November this year, fabs will be approved. This will be fab manufacturing, the actual wafer fab,» Chandrasekhar told TOI. Global companies recently visited Gujarat for ‘Semicon India 2023’ to expand semiconductor production in India. Companies will invest because of a strong demand curve for the precious commodity and as the country emerges as a trusted partner in the electronics ecosystem, said Chandrasekhar to TOI. «Electronics in India is now reaching a critical mass, and the target that we have set out for is $300 billion by 2026. We are on track to achieve this… This would result in a massive need for semiconductors, which we estimate to touch $110 billion by 2029,» said the minister.

Exide Industries' June-quarter earnings have not impressed the markets. The stock fell over a per cent in morning trade on Monday (July 31), following a 2 per cent fall in the previous session. During market hours on July 28, Exide Industries reported a net profit of ₹224.1 crore in the quarter ended June 2023, registering a growth of 10.7 per cent as compared to a profit of ₹202 crore in the corresponding quarter of last year.

Hyderabad police, in their recent bust of a massive Rs 712 crore investment scam, have revealed that the masterminds behind it are a group of Chinese experts dedicated to creating innovative scams to deceive unsuspecting victims. According to cyber crime sleuths investigating the case, this exclusive team's primary role is to develop attractive advertisements, text messages for SMS, Telegram, and WhatsApp, as well as design enticing webpages that present a façade of genuine investment proposals to lure victims, ToI reported.

Investing.com — Most Asian currencies fell on Monday, with the Japanese yen coming under pressure from an unscheduled bond buying operation by the Bank of Japan, while the Chinese yuan was hit by weak business activity data.

ITC as the multibagger Nifty stock has fallen around 7% after hitting an all-time record high of Rs 499.70 on July 24. Although the market has reacted negatively to the much-awaited announcement of the demerger of the hotels business, analysts see it as a positive development with target prices going up to Rs 560. It is expected that ITC Hotels will get listed on stock exchanges in the next 12-18 months following approval from regulators, including NCLT.

Throughout its history, Pakistan has been confronted with the challenges of terrorism and sectarian violence. However, the landscape of security threats intensified after the September 11 attacks in the United States in 2001. The emergence of al-Qaeda and Taliban militants, seeking refuge in Pakistan after their retreat from Afghanistan, posed a significant danger to the nation's stability.

₹3,350 crore and strong business development of nearly ₹12,000 crore. The stock rose 2.75 per cent in the following session on July 28. However, the company's consolidated net profit for Q1FY24 fell to ₹179.2 crore from ₹271.3 crore year-on-year (YoY).

Marico share price fell over 2% on Monday after the homegrown FMCG major reported Q1 results. Marico shares fell as much as 2.38% to ₹559.65 apiece. Marico Ltd on Friday reported 15% rise in its consolidated net profit to ₹436 crore for the first quarter ended June 30, 2023 as compared to a net profit of ₹377 crore in the year-ago quarter.

₹93.01 apiece on the BSE. IOC reported a standalone net profit of ₹13,750.44 crore in the quarter ended June 2023, rising 36.7% from ₹10,058.69 crore in the previous quarter. The company had posted a net loss of ₹1,992 crore in the same quarter last year.

₹842 against the previous close of ₹856.50 and fell 3.6 per cent to ₹825.30 soon on BSE. After market hours on Friday (July 28), SBI Card reported its consolidated net profit fell 5 per cent to ₹593 crore, compared to ₹626.9 crore in the corresponding period last year. Revenue from operations increased 24 per cent to ₹4,046 crore, compared to ₹3,263 crore in the year-ago period while interest income increased by 30 per cent at ₹1,804 crore in Q1FY24, compared to ₹1,387 crore in Q1FY23.

RFC Ambrian is tipping in $5 million into mining tech business and IPO hopeful NextOre, cornerstoning its Series B growth funding round.