Goldman Sachs has downgraded CreditAccess to a 'Sell' rating with a target price of ₹564 per share, citing concerns over earnings visibility and asset quality amid rising borrower indebtedness. Morgan Stanley maintains an 'Overweight' rating on Reliance Industries, targeting ₹1,662 per share, highlighting its strategic acquisition in U.S. helium operations and focus on low carbon solutions. Bernstein has an 'Outperform' rating for Jubilant Food, setting a target of ₹700 per share, emphasizing the need for significant growth in its Turkey business and expansion of Domino's stores in India to achieve an ₹80,000 crore market cap by FY30.
Israel's air force targeted a Hezbollah rocket facility in southern Lebanon amid escalating ceasefire tensions, with both sides accusing each other of violations. Meanwhile, Mexican President Claudia Sheinbaum is pursuing a trade truce with U.S. President-elect Donald Trump, and Canada's Competition Bureau has filed a lawsuit against Google for alleged ad monopoly practices.
CHARGE has officially opened South Africa's first off-grid, ultra-fast electric vehicle charging station in Wolmaransstad, powered entirely by renewable energy. The facility features six DC fast charging points and two AC charging points, aiming to enhance EV infrastructure in remote areas. This initiative aligns with the South African Renewable Energy Masterplan and is expected to create economic opportunities for local communities while reducing transport emissions.
Canada's antitrust watchdog is suing Google for alleged anticompetitive practices in its online advertising business, seeking to compel the company to divest its publisher ad server, DoubleClick for Publishers, and ad exchange, AdX. The Competition Bureau claims Google unlawfully tied its ad tech tools to maintain a dominant market position, holding significant shares across various ad tech sectors. The case will be heard by the Competition Tribunal, which addresses compliance with the Competition Act.
Mexico's Senate has approved a measure to eliminate autonomous bodies that oversee various economic sectors and promote government transparency. This reform has provoked significant backlash from opposition parties and industry stakeholders.
Wall Street banks are poised for their worst trading year since the pandemic, with projected revenues from foreign-exchange and rates trading falling significantly. Over 250 firms, including major players like Goldman Sachs and JPMorgan, are expected to generate $32 billion from Group-of-10 rates and $16.7 billion from currencies, marking declines of 17% and 9% respectively.
GIFT Nifty suggests a positive start despite a significant drop in Asian markets. The Nifty50 closed at 23,914.15, down 360.75 points, with most sectors in the red, except for PSU Banks, Media, and Realty. A strong close above 24,350 could confirm a bullish pattern, with immediate resistance at 24,140 and support at 23,760.
The dollar is poised for its largest weekly decline since August, with a 1.1% drop this week, as investors reassess the Trump trade that has previously bolstered the currency. Concerns are mounting over President-elect Donald Trump's social media activity and its potential impact on the U.S. economy. The Bloomberg Dollar Spot Index fell 0.2% on Friday, reflecting growing uncertainty in financial markets.
Japan's Prime Minister Shigeru Ishiba is poised to unveil his policy vision in parliament, seeking approval for a ¥13.9 trillion ($92 billion) extra budget aimed at stimulating the economy. Following early policy inconsistencies and challenges at international summits, Ishiba aims to address rising living costs and prepare for the incoming US administration under President-elect Donald Trump.
Aster DM Healthcare Ltd. is close to finalizing a deal to merge with Quality Care India Ltd., backed by Blackstone, creating one of India's largest hospital chains. Shareholders of Aster are expected to own approximately 57% of the new entity, which will have over 10,000 beds, enhancing profitability and growth potential.
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