Target Financial News

BSE on Tuesday (July 18) a day after the company reported a weaker-than-expected April-June quarter (Q1FY24) results. The stock opened at ₹5,036.05 against its previous close of ₹5,133.95 and soon dropped 3.7 per cent to the level of ₹4,944.65. The IT player reported a net profit of ₹1,151 crore for Q1FY24 which was up 4 per cent year-on-year (YoY).

Dear Shareholders, When I founded the Adani Group over three decades back, I had never imagined that the Adani Group would grow to become one of the largest conglomerates in the country. It was on the 12th of September 1994 that Adani Enterprises, then known as Adani Exports, launched its IPO. I had just turned 32.

Republic Day 2023. While speaking at the Adani Group AGM 2023, the Indian billionaire said that Hindenburg Research report was a combination of targeted misinformation and discredited allegations, the majority of them dating from 2004 to 2015.  After this strong counter attack by Gautam Adani against the US-based short seller, Adani group shares witnessed huge buying interest during early morning deals on Tuesday.

Airport and copper smelter. New business accounted for 50% of Adani Enterprises’ FY23 EBITDA, We reaffirm the target of 45 GW renewable energy capacity by 2030.

«I think we believe that the underlying story remains absolutely very, very convincing for FMEG companies. And that is where I think this company is positioned,» says Deven Choksey, MD, KRChoksey Holdings Pvt. Ltd.UBS has come out with a note on Havells. They have upgraded the stock to now a buy. The target price also has been up to 1900 bucks. They are saying that the structural growth story is back into focus alongside a cyclical kicker. They are saying that it's a $40 billion opportunity by FY28, rising at 10% CAGR. Earnings CAGR currently at 26%. They are saying the concerns over the past two years are now behind them. Capital allocation is going to now return accretive. The valuation-wise, they are saying that it is the best play when it comes to consumer electricals. And they say that they are seeing a sustained revenue share gain, a higher share of premium products, and a turnaround for Lloyd as well, which is in the offing, which is going to aid upside for Havells. Wanted to understand what is your thought here.I think we believe that the underlying story remains absolutely very, very convincing for FMEG companies.

LTIMindtree shares fell over 3% in Tuesday's trade and the latest Nifty entrant was the top loser in the 50-pack index after the company reported lower-than-estimated June quarter results. Following the earnings, JP Morgan remained 'Underweight' on the stock while Jefferies has an 'Underperform' rating on the counter. Kotak Institutional Equities recommended 'Reduce' while Motilal Oswal took a 'Neutral' stance.

gems and jewellery exports for the current financial year is seeing a downward trajectory, on the back of slowdown in major international markets and inflationary pressures playing spoilsport. “The export target for gems and jewellery was $42 billion versus last year in which we achieved approximately $39 billion. However, given that the first quarter itself was down by around 18%, we are expecting a decline of 10-15% in overall exports in this fiscal,” Vipul Shah, Chairman, Gem and Jewellery Export Promotion Council (GJEPC) said in an event organised by the industry body in the capital on Tuesday.

Yogi Adityanath and PM Modi government are on target. The accused also threatened to be ready for anothet 26/11 terrorist attack.

Reliance Industries' (RIL) financial services arm has the potential to generate a positive impact on the stock. Brokerage firms believe the demerger has the potential of unlocking significant value for the company and its shareholders. It could give a boost to the stock price by 3-5 per cent.

Nitish Kumar posters were put up at Bengaluru's Chalukya Circle, Windsor Manor Bridge, and on the Airport road near Hebbal. The posters read, “The unstable prime ministerial candidate" with Nitish Kumar's photos on them. However, the police personnel have removed posters targeting Kumar.

Also read: Global weather alert: Heatwave engulfs US, Europe, Japan while floods wreak havoc in India and South Korea The prolonged extreme heat poses challenges to communities, with the international charitable organisation Salvation Army has been providing relief to individuals through cooling centres and mobile outreach for homeless. Scientists warn that climate change, caused by CO2 emissions from burning fossil fuels, intensifies heatwaves and urges governments to take drastic actions to prevent a climate catastrophe. Also read: US heatwave: Record high temperature in California, Florida, Las Vegas.

The Sensex jumped 529 points to settle at its new all-time closing high of 66,589, while the broader Nifty rose 146 points to end at a new record high of 19,711. Stocks that were in focus include names like HDFC Bank, which rose 2% and Just Dial, whose shares fell 4.28% on Monday.Here's what Riches Vanara, Technical and Derivatives Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today:HDFC Bank — BuyThe banking major is trading in an ascending triangle pattern and nearing the breakout zone of the said pattern.

Technology services provider Infosys has announced entering into a framework agreement with one of its existing strategic clients in order to provide artificial intelligence and automation-led development.  In an exchange filing on Monday, Infosys revealed that the agreement will also entail modernization and maintenance of services. It is expected to come with a total client spend target of around $2 billion in the next five years.

Day trading guide for today: On account of strong global cues, Indian stock market finished on a higher note on Monday. Out of three key benchmark indices, BSE Sensex and NSE Nifty climbed to a new peak on the previous session, which improved the market sentiments further.

Despite economic headwinds, there’s been no lack of activity in the local retail sector. And profit warnings from some of the country’s highest-profile brands – from Harvey Norman to Best & Less and Adairs – have not dulled interest in Australia from one major overseas retailer, Canada’s Dollarama, a Montreal-headquartered discount chain.

The cat is out of the bag at The Real Pet Food Company.

Buy or sell stocks for today: Following strong global market cues, Indian stock market ended higher on Monday. Nifty and Sensex scaled to a new peak of 19,731 and 66,656 respectively. Bank Nifty index finished 630 points higher at 45,449 mark.

Dunzo is seeking at least $20 million (about Rs 165 crore) more from Reliance Retail, its largest shareholder, after the cash-strapped quick commerce startup fell short of its target to raise $75 million by offering convertible notes, people aware of the discussions said. The Bengaluru-based firm could raise just about $45 million in April, as reported first by ET, with only Reliance Retail and Google subscribing to the convertible notes and its other shareholders staying away. This, the people said, has caused an adverse cash flow situation at the company.

analytics software provider to business-to-business (B2B) marketing teams, said on Tuesday it has raised $3.6 million in funding led by Stellaris Venture Partners. Returning investors in this pre-Series A funding round included Elevation Capital and Emergent Ventures. Both had co-led a $2 million seed funding round in August 2021.

Advertising and consumer promotion expenditure is expected to surge a record 20-25% year-on-year in the second half of 2023, spurred by factors such as the Cricket World Cup, a rainy summer that has led companies to postpone ad spends, and the festive season, said executives. Spending is expected to be led by sectors such as ecommerce, fast-moving consumer goods (FMCG), travel and hospitality, apparel and fashion, fintech, banking, retail and automobiles, they said.

LTIMindtree, which now features in India’s top 50 stocks gauge after HDFC’s merger into the lender it spawned, Monday missed forecasts to report a 4% June-quarter profit growth in what the company described as a “challenging macroeconomic environment”, potentially denting the prospects of double-digit revenue growth in FY24. Net profit for the three months ended June was Rs 1,152.3 crore, compared with Rs 1,105 crore a year ago. Revenue came in at Rs 8,702.1 crore, up 13.8% year on year, which also missed estimates.