Target Financial News

Yes Bank shares have been in uptrend for last five sessions. After trading sideways for near two months, Yes Bank share price has risen from ₹16.05 to ₹17.45 apiece levels in last five sessions, delivering near 9 per cent in this time.

Stocks that were in focus include names like HDFC Bank, which was down 3%, Samvardhana Motherson, which rose 6.1% and ITC Bank, whose shares rallied nearly 2% on Wednesday.Here's what Vikas Jain, Senior Research Analyst at Reliance Securities, recommends investors should do with these stocks when the market resumes trading today:Samvardhana Motherson – Buy in declinesThe stock has been in a strong uptrend over the past few months, forming higher bottoms and higher tops to scale a new 52-week high. It is up 8% on back of acquisition news flow and near to the resistance of the 200-week average of 92 levels.

Bitcoin (BTC) price is currently trading at $30,450, unable to break above the psychological level of $31,000. 

backdoor entry to invest in the steel sector. HEG does not directly manufacture or trade steel, but it manufactures furnaces in which steel is manufactured. Hence, its performance is directly linked with the performance of the entire steel sector.

Treasury yield curve to its deepest inversion since 1981 on Monday, once again putting a spotlight on what many investors consider a time-honored recession signal. The U.S. central bank has hiked interest rates aggressively over the last year to fight inflation that hit around 40-year highs and remains above its 2% target rate.

«I think that it is a great opportunity, usual disclosure we and our clients are invested, and I think that around these levels also Eicher Motors is a decent proposition. It is not going to be like a multi-bagger it has been in the past, but I expect it to outperform the index at least in the near future, in medium term as well and there is a lot of fear around the two launches which have been taking place from Hero MotoCorp and Bajaj Auto,» says Dipan Mehta, Director, Elixir Equities.Cars, bikes it is a problem of plenty out there, what would we first talking about? And this is the reason why we are very positive on the auto industry.

Investing.com — The pound was largely unchanged against the dollar Wednesday, as the debate continued on how far the Bank of England needs to go to bring inflation under control, with some calling for just two more hikes, while others warning of several more hikes.  

Buy or sell stocks for today: Following weak global market sentiments, Indian stock market trade mixed on Wednesday session as one out of the three key benchmark indices ended green while rest two closed in the red territory. Market valuation of all listed firms on the BSE hit a lifetime high of ₹300 lakh crore for the first time on the previous session.

Maruti Suzuki, which drove car ownership in India through its compact cars over the past four decades, surged past ₹3 lakh crore in market value on Wednesday after it unveiled its costliest vehicle to date, underscoring undiminished demand for premium transportation choices in an economy where the budget-end of the business appears to be stagnating. The stock rose more than 3% on Wednesday to hit a new all-time high. The shares crossed ₹10,000 apiece for the first time in a choppy trading session.

Japanese Yachiyo Industry, Honda Motors' four-wheeler business, got more analysts becoming optimistic about the auto ancillary giant, stoking a double-digit jump in the company's stock price on Wednesday. Japanese brokerage firm Nomura upgraded the stock by two notches to 'buy' and set a target price that has the potential to deliver another 17% returns from the current levels.

«Almost all participants judged it appropriate or acceptable to maintain the target range for the federal funds rate at 5% to 5.25%,» minutes from the June 13-14 meeting said. «Some participants indicated that they favoured raising the target range for the federal funds rate 25 basis points at this meeting or that they could have supported such a proposal.» Officials supporting a hike cited tight labour markets and relatively few signs that inflation was slowing toward the 2% goal.

economic activity had been stronger than earlier anticipated, and there were few clear signs that inflation was on a path to return to the Committee's 2 percent objective over time," the Fed said. In the end, almost all participants judged it appropriate or acceptable to maintain" the federal funds rate at the existing 5% to 5.25%, the minutes said.  "Most of those participants observed that leaving the target range unchanged at this meeting would allow them more time to assess the economy's progress," toward returning inflation to 2% from its current level more than twice that.

Apple in India is increasing its focus on retail stores to shore up revenue this year. It has raised the sales target of the franchisee-owned exclusive retail stores in India by up to 100% and started offering discounts at its two company-owned brick-andmortar and the online store in India, three industry executives said. These strategies indicate the iPhone company is seeking doubledigit revenue growth in India, they said. Apple has rolled out a ‘student’ offer in its company-owned stores which includes a discount and freebies on Mac computer and iPad tablets whereby the total deal value is steeper than what is available in the franchise-based Apple Premium Reseller stores, the executives said. The company that had increased the sales target for its Premium Reseller stores in the last has done so in the current quarter as well. For some, it is almost doubled on a year-on-year basis. There are 200-plus such stores in the country. An email sent to Apple India remained unanswered till Wednesday press time.

By Yasin Ebrahim

Some Federal Reserve policy makers would have supported raising interest rates last month even though officials decided to leave them unchanged, and many were prepared to raise them again this year. Minutes of officials’ June meeting, released Wednesday, offered little that would alter recent market expectations of another increase at their July 25-26 meeting to combat inflation.

NEW DELHI : India’s largest hotel chains are rapidly expanding their portfolios amid record-high room rates. In the last week alone, half a dozen hotel companies across India have announced new development plans, including management contracts with independent owners and launching properties signed in the past few years, to capitalize on the soaring demand for hotel accommodations. Buoyed by hotel demand outstripping supply, many top hotel operators are signing up new properties in the first quarter of FY24.

NEW DELHI : Bajaj Auto and British luxury motorcycle brand Triumph on Wednesday launched their maiden offerings with two 400cc modern classics, strategically designed to woo the Indian youth. With competitive price points, these motorcycles will directly challenge the revered British marquee brand Royal Enfield that has so far maintained an unassailable dominance with over 70% share in the 350cc-500cc segment in India. The Speed 400, priced ₹2.33 lakh, ex-showroom, enters the market with an exclusive offer of ₹2.23 lakh for first 10,000 bookings.

Havells India, with a target price of ₹1,453, representing a 12.7 per cent increase over the stock's closing price of ₹1,289.05 on July 5. Shares of Havells India gained over 1.5 per cent to touch an intra day high of ₹1,293.65, setting 0.9 per cent higher at ₹1,289.05 apiece during the trading session on Wednesday.

Almost all Federal Reserve officials at their June meeting indicated further policy tightening is likely, if at a slower pace than the rapid-fire rate increases that had characterized monetary policy since early 2022, according to minutes released Wednesday. Policymakers decided against a rate increase amid concerns over economic growth, even though most members think further hikes are on the way. Citing the lagged impact of policy and other concerns, they saw room to skip the June meeting after enacting 10 straight rate increases. Officials felt that «leaving the target range unchanged at this meeting would allow them more time to assess the economy's progress toward the Committee's goals of maximum employment and price stability.» Federal Open Market Committee members voiced hesitance over a multitude of factors. They said that a brief pause would give the committee time to assess the impacts of the hikes, which have totaled 5 percentage points, the most aggressive moves since the early 1980s. «The economy was facing headwinds from tighter credit conditions, including higher interest rates, for households and businesses, which would likely weigh on economic activity, hiring, and inflation, although the extent of these effect remained uncertain,» the minutes stated. The unanimous decision not to hike came in «consideration of the significant cumulative tightening in the stance of monetary policy and the lags with which policy affects economic activity and inflation.»

NEW DELHI : JioCinema, the video streaming platform owned by Mukesh Ambani’s Reliance Industries Ltd, is set to disrupt the Indian OTT market with its free local language programming, which sets it apart from rivals such as SonyLIV or ZEE5, who have similar content behind a paywall. Moreover, JioCinema’s recent acquisition of Warner Bros Discovery content, which includes popular HBO Originals, and the addition of Universal Studios content poses a threat not only to Disney+ Hotstar, which has also lost the IPL rights but also positions the Viacom18-owned service alongside established players like Netflix and Amazon Prime, known for premium international programming.

One of the last bastions of industry where carbon emissions go largely unregulated may be about to fall. Shipping—which consumes about 5% of the world’s oil and emits about 3% of its greenhouse gases—is edging toward a net-zero target. The International Maritime Organization, the United Nations body that oversees the industry, is meeting in London this week to strengthen measures to reduce its carbon footprint over the coming decades.