PNB shares jump 8% after Q2 results beat estimates; Jefferies, Motilal Oswal, others raise target prices
Punjab National Bank shares rose sharply on Monday after the lender reported a 13% year-on-year rise in Q2FY27 net profit to Rs 5,532 crore. Stronger net interest income and improving asset quality prompted bullish brokerage calls, with Jefferies, Motilal Oswal and JM Financial setting target prices of Rs 140 apiece.
Kross shares rally 16% after Q2 profit jumps 143% YoY; stock hits 52-week high
Kross shares surged following strong Q2 FY27 results, with revenue rising 80% and net profit climbing 143% year-on-year. EBITDA more than doubled, while margins improved. Robust commercial vehicle demand, capacity expansion and operational efficiencies supported growth, alongside increased institutional shareholding and the stock reaching a fresh 52-week high.
Ixigo shares rally 13% after travel platform reports all-time high profit
Ixigo shares jumped after the travel platform reported a record Q2 profit of Rs 63.42 crore, partly boosted by the sale of its stake in Freshbus. Gross transaction value rose 22% year-on-year to Rs 5,304.47 crore, while revenue grew 13% to Rs 320.96 crore and contribution margin increased 14% to Rs 124.86 crore.
Gold edges higher as investors assess Fed rate-hike odds
In early Asian trading, gold prices saw a modest uptick as speculation swirled regarding the Federal Reserve’s policy stance. Investors are closely watching remarks from Fed Chairman Kevin Warsh on the state of the U.S. economy and rising inflation concerns. As import costs climb, expectations for a rate hike this December are building. Furthermore, unrest […]
Positive Breakout: These 6 stocks cross above their 200 DMAs
In the Nifty500 pack, six stocks’ closing prices crossed above their 200-day moving averages (DMA) on October 16, 2026, according to StockEdge’s technical scan data. The 200-day moving average (DMA) is used by traders as a key indicator for determining the overall trend of a stock. As long as a stock’s price remains above its […]
IIFL Finance plans to raise ₹2,500-5,000 crore by selling stake amid Fairfax exit rumors
IIFL Finance is intending to raise ₹2,500-5,000 crore by selling a minority stake. The company’s promoters may subscribe to warrants to limit dilution. Fairfax Financial Holdings is likely to sell its stake due to regulatory norms. IIFL aims to enhance its capital position amid evolving market conditions. These measures are expected to create synergies for […]
Pharma Q2 Outlook: Pricing pressure, US competition to weigh on select players
India’s pharmaceutical companies are expected to have a mixed performance in the upcoming September quarter. Companies like Sun Pharmaceutical Industries and Aurobindo Pharma are likely to report good growth. In contrast, Dr Reddy’s Laboratories and Lupin may face challenges due to increased competition and a high base. Pricing pressure and elevated raw material costs are […]
Mutual fund holdings of IT stocks sink to record low in September
Indian mutual funds decreased their investment in Information Technology stocks amid worries about artificial intelligence disruption and reduced client spending. The sector’s weight in equity assets dropped significantly, affecting major companies like Infosys and TCS. While some fund managers reduced holdings, others increased their investments in select stocks such as Infosys and TCS. The Nifty […]
Private banks’ margins fall as FCNR deposits raise funding costs
In the second quarter, leading private sector banks in India reported a drop in net interest margins. This decline was primarily caused by the costs associated with foreign currency non-resident deposits. Analysts noted that the leveraged nature of these deposits significantly impacted profitability. Additionally, banks faced pressure from faster repricing of assets as interest rates […]
Jio Platforms IPO, Paras Healthcare issue to drive primary market activity this week
Jio Platforms is gearing up for an impressive ₹30,213-crore initial public offering, set to debut on October 21. Following suit, Paras Healthcare is also preparing to launch its own ₹1,450 crore IPO. Meanwhile, several companies whose IPOs wrapped up last week will be hitting the stock market this week, including Vaibhav Vyapaar, Ravita Engineering Services, […]