Birkenstock raises revenue forecast on strong demand, shares jump 18%
Birkenstock has raised its annual sales growth forecast after surpassing quarterly revenue expectations. The company’s robust performance was largely driven by strong full-price demand for its premium sandals. Sales through the direct-to-consumer channel surged by fourteen percent, accounting for nearly thirty-nine percent of total revenue. The Asia-Pacific region led the way in growth, while EMEA […]
US stocks: Cerebras slumps 18% as mixed quarterly results test AI growth narrative
Cerebras Systems experienced a notable drop in its shares after falling short of key financial projections. Although its cloud revenue saw a remarkable increase, hardware sales faced a downturn, sparking concerns regarding the competitive edge of its AI chip sector. Analysts pointed out difficulties in scaling operations effectively to satisfy demand. Similarly, Cisco Systems’ stock […]
KRN Heat Exchanger shares hit 5% upper circuit as Q1 net profit more than doubles
Shares of KRN Heat Exchanger and Refrigeration hit a upper circuit on Thursday, following a strong Q1 FY27 earnings performance. The rally was driven by robust demand across both domestic and international markets.
Lenskart’s Meller sunglasses are Ray-Ban of the future, says Jefferies. Here’s why Wall Street giant is bullish
Lenskart’s strong Q1 FY27 performance, marked by sharp profit growth, revenue expansion and improving margins, has strengthened the bullish case among brokerages. Jefferies sees further potential from international growth, premiumisation, store expansion and Meller, which it believes could become a major global brand.
UBS upgrades MCX rating to Buy with Rs 3,800 target price: Can it boost the stock?
UBS upgraded MCX to Buy from Neutral and raised its target price to Rs 3,800, citing attractive valuations, resilient trading volumes and positive regulatory developments. The brokerage also raised its FY27-FY29 EPS estimates by 4%-9%, while expecting strong commodity volatility and operating leverage to support earnings growth.
Paytm management gets Sebi show cause notice over timing of 2023 loan disclosure announcement
Paytm management has received a Sebi show-cause notice over the timing and classification of information disclosed in a December 2023 corporate announcement. The company said its key managerial personnel are evaluating the notice and will respond within 14 days. The development comes after Paytm reported strong Q1 FY27 earnings and Bernstein raised its target.
India said to plan easier rules to boost micro-cap listings
Sebi is considering sweeping SME IPO reforms to broaden eligibility, boost investor participation and reduce listing costs. Proposed changes include allowing companies valued up to Rs 4,000 crore to list on SME platforms, removing minimum trade sizes, and easing market-making and underwriting requirements. The regulator is expected to issue a consultation paper seeking public comments.
Tata Motors shares jump 6% after strong Q1; Nomura upgrades stock, CLSA retains Outperform rating
Tata Motors shares jumped after Q1 FY27 net profit surged 83% YoY to Rs 2,560 crore, aided by mark-to-market gains on Tata Capital investments. Revenue rose 19% YoY to Rs 20,667 crore.
Jio Financial shares jump 3% as Bank of America set to acquire 50% stake in Jio Credit for Rs 18,268 crore
Jio Financial Services shares: Bank of America agreed to acquire up to 49.9% in its lending arm Jio Credit through a Rs 18,268 crore joint venture deal. The US bank will initially take 26.5%, with the stake potentially rising to 49.9% via warrants, subject to approvals. Jio Credit had an AUM of Rs 30,667 crore […]
Astral shares rally 10% following Q1 results; Citi sees target price at Rs 1,900, Nuvama upgrades stock to ‘Buy’
Astral shares surged nearly 10% after strong Q1 FY27 results, with profit rising 51.8% YoY. Citi retained a Buy rating with a Rs 1,900 target, while UBS maintained Accumulate. Nuvama upgraded the stock to Buy, citing strong pipe volumes and margin prospects, while Motilal Oswal retained Buy and CLSA maintained Hold.