Economic Times
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Hindustan Zinc net profit jumps 142% to Rs 6,412 crore in Q2 FY27
Hindustan Zinc reported a consolidated net profit of Rs 6,412 crore for Q2 FY27, a 142% year-on-year increase. Revenue jumped to Rs 15,093 crore as shares surged to Rs 560 on NSE. Jefferies reduced its target price from Rs 750 to Rs 650 apiece. The company has a market capitalisation of more than Rs 26,136 crore.
LTTS reports ₹3,040 crore revenue as AI-led revenue hits $120 million annually
LTTS reported revenue of ₹3,040 crore and $317 million in dollar revenue for the quarter ended September. Adjusted profit after tax rose to ₹380 crore as EBIT margin hit 16.3%. The company secured a $203 million large deal, with AI-led revenue reaching $120 million annually. Motilal Oswal Financial Services, Nomura, and Nuvama raised target prices following these results.
Transrail Lighting bags Rs 2,300 crore in orders within just three weeks
Transrail Lighting reported a total order intake of Rs 3,356 crore for the current financial year, including over Rs 2,300 crore won in three weeks. CEO Randeep Narang attributed growth to EPC projects and conductor supplies. Shares gained 18% monthly, reaching a market capitalisation of Rs 6,051 crore. FIIs reduced their stake to 1.85% for the September 2026 quarter.
Bajaj Finance net interest income rises 24% to Rs 13,335 crore in Q2 FY27
Bajaj Finance reported Q2 FY27 results on Monday, showing a 24% YoY net interest income increase to Rs 13,335 crore and AUM growth of 26% to Rs 5.85 lakh crore. Nomura, Jefferies, and 360 One WAM maintained or upgraded "Buy" ratings with targets of Rs 1,270, Rs 1,230, and Rs 1,150 respectively. The stock dropped to Rs 929.20 on NSE Wednesday.
Piramal Finance reported H1 FY2027 profit after tax of Rs 1,006 crore
Piramal Finance reported H1 FY2027 profit after tax of Rs 1,006 crore. Assets Under Management rose 24% yoy to Rs 1.13 lakh crore, with retail AUM reaching Rs 97,462 crore and wholesale AUM hitting Rs 13,978 crore. The company raised Rs 3,850 crore in equity capital. Anand Piramal announced the appointment of Dinesh Kumar Khara, former State Bank of India Chairman, as Independent Director.
Jio Platforms launches Rs 30,213 crore IPO seeking Rs 10.3 lakh crore valuation
Jio Platforms launched a Rs 30,213 crore IPO priced between Rs 1,065 and Rs 1,119 per share until October 23. Seeking a Rs 10.3 lakh crore valuation, the company raised Rs 8,110 crore from anchor investors including LIC, BlackRock, and Fidelity. Shares commanded an unofficial Rs 245 grey market premium on October 20. The offering includes 27 crore fresh equity shares to repay borrowings.
Brent crude jumps over $1 to $110 as supertanker hits sea mine
Brent crude jumped over $1 to around $110 per barrel, while WTI Crude gained over a dollar to around $99. The Iran's Revolutionary Guards Navy reported a supertanker caught fire after hitting a sea mine in the Strait of Hormuz on Tuesday. Kpler reported 18 vessel attacks over two weeks. Goldman Sachs analyst Daan Struyven warned prices could reach $120.
Rupee becomes fourth-worst performing Asian currency as it depreciates 5% this year
The rupee depreciated 5% this calendar year, becoming the fourth-worst performing currency in Asia. Bloomberg data showed the Indonesian rupiah fell 7.3%, while the South Korean won gained 8.5% and the Chinese yuan gained 4.6%. Radhika Rao of DBS Bank warned that Brent crude prices near $105 a barrel and foreign portfolio outflows will cause further weakness despite RBI interventions.
SpaceX reports $4.4 billion net income as Nextdc Ltd. shares plunge 44%
The MSCI Asia Pacific Index climbed 0.6% as the Kospi Index rose 1.9%. SpaceX reported $4.4 billion in net income, beating estimates and lifting Nasdaq 100 futures by 0.7%. Super Micro Computer Inc. surged 15%, while Netflix Inc. fell. Nextdc Ltd. shares plunged 44%. Brent crude rose 0.7% to $109.50. Meta Platforms Inc. and Tesla Inc. await earnings reports.
Mirae Asset's Basant Bafna suggests building gilt fund exposure as yields may have peaked
Gilt funds are debt mutual funds investing in government securities with maturities of 10 years or more. While credit risk is minimal, returns fluctuate based on bond yields and factors like RBI rate decisions and US Treasury yields. Basant Bafna, Head of Fixed Income at Mirae Asset Mutual Fund, suggests building exposure as yields may have peaked despite inflation risks and potential Federal Reserve hikes.
NSE listing may cause near-term moderation of unlisted market trading volumes
Umesh Paliwal of Unlisted Zone and Manan Doshi of Unlisted Arena noted that while NSE accounted for 50-60% of unlisted market trading volumes, its listing may cause near-term moderation. Other popular stocks include Metropolitan Stock Exchange of India (MSEI), Transline Technologies, Quality Enviro Engineers, Sun Drops Energia, API Holdings, Oravel Stays, Hindustan Power Exchange, PPFAS, GFCL EV, MT&T Rental, Prisma AI, Goodluck Defence, and Vervesemi.
Nithin Kamath warns of pump-and-dump schemes as ED freezes Rs 200 crore accounts
Nithin Kamath warned of more pump-and-dump schemes as the ED froze accounts worth Rs 200 crore. The report included investment advice from four wealth managers regarding how they would invest Rs 10 lakh for conservative, moderate, and aggressive investors. This information was published by ETMarkets to provide market news and expert advice on stocks like SBI, Axis Bank, and HDFC Bank.
