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Business

The companies making billions from the Iran war

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The companies making billions from the Iran war

US giants ExxonMobil and Chevron saw their earnings fall compared with the same period last year, due to supply disruption from the Middle East, but both beat analysts’ forecasts and expect their profits to grow further as the year goes on, with the price of oil still significantly higher than when the war broke out.

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Edwards Questionable for Game 3 as Timberwolves Eye Series Lead Over Spurs

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Anthony Edwards #1 of the Minnesota Timberwolves pauses during the second half against the Cleveland Cavaliers at Rocket Mortgage Fieldhouse on February 28, 2022 in Cleveland, Ohio. The Timberwolves defeated the Cavaliers 127-122.

MINNEAPOLIS — The Minnesota Timberwolves provided a positive yet cautious update on superstar Anthony Edwards ahead of Game 3 of their Western Conference semifinal series against the San Antonio Spurs on Friday, listing the All-Star guard as questionable with his lingering left knee bone bruise while emphasizing steady progress in his recovery.

Edwards, who made a remarkably quick return from a hyperextension and bone bruise suffered in the first round against the Denver Nuggets, has been a key factor in Minnesota’s 1-1 series tie with San Antonio. The 24-year-old delivered 18 points off the bench in a Game 1 road victory and continued contributing in Game 2 despite limited minutes as the Spurs evened the series.

Anthony Edwards #1 of the Minnesota Timberwolves pauses during the second half against the Cleveland Cavaliers at Rocket Mortgage Fieldhouse on February 28, 2022 in Cleveland, Ohio. The Timberwolves defeated the Cavaliers 127-122.
Anthony Edwards

Timberwolves coach Chris Finch confirmed Edwards has participated in on-court activities and is progressing well, but the team will monitor his condition through Friday’s shootaround before making a final decision. “Ant has been pushing hard,” Finch said. “We’re being smart with him because we know how important he is not just for this series but for what we hope is a long run.”

The injury occurred in Game 4 of Minnesota’s first-round series when Edwards landed awkwardly while contesting a shot. Initial fears of a multi-week absence proved overly pessimistic as the dynamic guard returned in just nine days, earning praise for his toughness and rehabilitation discipline. Edwards has described himself as feeling “not limited at all,” though the team continues to manage his workload carefully.

Series Context and Edwards’ Impact

The Timberwolves entered the postseason as the No. 6 seed after a solid regular season but have faced adversity with injuries. Edwards’ availability has been a major boost, providing scoring punch, athleticism and leadership that proved decisive in the Game 1 win over Victor Wembanyama and the Spurs. Without him at full strength, Minnesota relies heavily on Julius Randle, who has stepped up with strong double-doubles.

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San Antonio, led by the towering Wembanyama, has made the series competitive with elite rim protection and young talent. Game 2 saw the Spurs capitalize on Minnesota’s turnovers and fatigue, setting up a critical Game 3 at Target Center where home-court energy could tilt the momentum.

Edwards averaged nearly 29 points per game during the regular season and has embraced a leadership role, mentoring younger teammates while maintaining his explosive playing style. His quick healing has drawn comparisons to his “Wolverine” nickname around the organization, reflecting his high pain threshold and dedication to recovery protocols.

Medical and Recovery Details

The left knee injury involved a hyperextension and bone bruise but no structural ligament damage, according to MRI results. Bone bruises can be unpredictable, often causing lingering soreness and swelling that requires careful load management. Edwards has focused on anti-inflammatory measures, strength exercises and mobility work to avoid stiffness.

Medical experts note that players with Edwards’ explosiveness must balance aggressive rehab with risk mitigation. Returning too soon could lead to compensatory injuries elsewhere, while sitting too long risks rust and loss of rhythm. The Timberwolves’ medical staff has earned praise for navigating this balance effectively.

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Edwards himself expressed optimism after recent sessions. “I don’t think I’m limited at all,” he told reporters. “Whatever coach needs from me, I’m ready.” His presence off the bench has already provided a spark, though full starting-lineup minutes would represent another step forward.

Broader Playoff Implications

A Timberwolves victory in Game 3 would give them a 2-1 series lead and home-court advantage in a best-of-seven format that favors the more experienced squad. Minnesota’s defensive identity, anchored by players like Jaden McDaniels and Rudy Gobert when healthy, pairs well with Edwards’ offensive firepower.

For the Spurs, maintaining pressure on Edwards’ knee through physical play remains a strategic focus. Wembanyama’s record-setting blocks in Game 1 highlighted San Antonio’s defensive potential, but Minnesota’s depth has proven resilient.

NBA analysts view this series as a pivotal test for both franchises. The Timberwolves aim to build on their recent playoff momentum, while the young Spurs seek to establish themselves as legitimate contenders. Edwards’ health could ultimately decide the outcome.

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Fan and Team Reactions

Target Center is expected to be electric for Game 3, with fans eager to welcome Edwards back at closer to full strength. Social media has been flooded with support for the star, who has become a beloved figure in Minnesota for his charisma and on-court dominance.

Teammates have rallied around him throughout the recovery process. Randle and others have shouldered extra minutes, demonstrating the team’s collective resilience. Finch has stressed a “next man up” mentality while protecting Edwards’ long-term availability.

What to Watch in Game 3

If Edwards starts or plays extended minutes, expect increased pace and scoring opportunities for the Timberwolves. His ability to attack the rim and stretch the floor with threes forces defenses to adjust, potentially opening lanes for teammates. Monitoring his movement and explosiveness in warmups will provide the clearest pre-game indicator.

Regardless of his final status, the Timberwolves emphasize preparation and execution. The series remains highly competitive, with both teams capable of winning on any given night. Edwards’ presence, even limited, elevates Minnesota’s ceiling significantly.

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As Game 3 approaches, all eyes remain on the Timberwolves’ injury report and Edwards’ determined push to contribute at the highest level. His resilience has already inspired fans and teammates alike, adding another compelling chapter to Minnesota’s playoff journey.

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Coforge shares surge 6%, rally 16% in three days post Q4 results. What’s ahead for investors?

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Coforge shares surge 6%, rally 16% in three days post Q4 results. What's ahead for investors?
Shares of Coforge jumped 6% on Friday to hit an intraday high of Rs 1,359.7 apiece on the NSE, extending their strong rebound. The stock has climbed over 16% in the past three sessions as upbeat Q4 results fuelled bullish brokerage views. Coforge has now bounced back nearly 35% in under two months from its 52-week low of Rs 1,008.10 recorded on March 17.

Coforge Q4 Results

Coforge on May 5 reported a net profit of Rs 612.3 crore for the January-March quarter of the financial year 2026, marking a whopping 134% surge from the Rs 261.2 crore net profit reported in the corresponding quarter of the previous financial year. Its revenue from operations, meanwhile, jumped 30% year-on-year (YoY) to Rs 4,450 crore during the quarter under review.

Speaking about the performance, Coforge CEO Sudhir Singh said, “FY26 marked another year of exceptional performance for Coforge. We delivered strong YoY growth at 29.2% and expanded EBIT margins materially by 370 bps to 14.4%. With an order executable of $1.75 billion, we enter FY27 with strong momentum and confidence. We expect to deliver robust revenue growth in FY27 and plan to deliver an EBITDA of more than 20.5% on a consolidated basis in FY27.”

Should you buy, sell or hold Coforge shares?

The international brokerage said the IT company’s Q4 results beat expectations, supported by stronger-than-anticipated margins and improved free cash flow conversion. It highlighted solid deal wins and a 16% YoY increase in the executable order book, which, despite the ongoing clean-up of the low-margin India business, offers visibility for double-digit organic growth.

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Jefferies raised its earnings estimates by 9–11% on a better margin outlook and now expects a 23% EPS CAGR over FY27–29, noting that valuations at 19x one-year forward PE remain attractive.
Nomura also has a ‘Buy’ rating on Coforge shares and raised the target price to Rs 2,100 after the Q4 results. This indicates a 63% upside potential. The international brokerage noted that the company secured six large deals worth $648 million in Q4, while the executable order book for the next 12 months grew 16% year-on-year to $1.752 billion.

The brokerage noted that this excludes framework agreements from US public services, which could provide additional support to growth. It expects flat sequential performance in Q1 FY27 due to the ongoing exit from low-margin India operations, but believes Coforge will still outperform industry growth through FY27. The acquisition of Encora, completed in April, is projected to add roughly $550 million in revenue in FY27, while core organic growth is estimated at around 11%.

Also read: LIC’s $2 billion contrarian bet: 10 stocks the DII giant bought while the market bled

Nuvama Institutional Equities and Motilal Oswal also have ‘Buy’ calls on the shares of Coforge, while Elara Capital recently upgraded its rating for the IT stock to ‘Accumulate’.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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ASX's worst session since mid-March as $43b wiped

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ASX's worst session since mid-March as $43b wiped

About $43 billion has been wiped from Australia’s share market, as oil prices surged after fighting between the US and Iran loomed over hopes of a peace deal.

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U.S. Bank Stocks Follow The Broader Market Higher In April

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U.S. Bank Stocks Follow The Broader Market Higher In April

U.S. Bank Stocks Follow The Broader Market Higher In April

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ECU students among those in Canvas hack

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ECU students among those in Canvas hack

Edith Cowan University students have been impacted by the breach of global education software Canvas, with some students unable to access the school’s learning management system.

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TAT and Harley-Davidson Showcase Southern Thailand as the Ultimate Motorcycle Touring Destination

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TAT and Harley-Davidson Showcase Southern Thailand as the Ultimate Motorcycle Touring Destination

The Amazing Thailand x Harley-Davidson Media Fam Trip showcased southern Thailand’s motorcycle touring routes, highlighting local culture, landscapes, and communities, promoting travel as a high-value experience under “Healing is the New Luxury.”

Motorcycle Touring in Southern Thailand

Bangkok, 7 May 2026 – The Tourism Authority of Thailand (TAT) and Harley-Davidson Asia partnered to host the Amazing Thailand x Harley-Davidson Media Fam Trip from 2 to 4 May 2026. This event highlighted Hat Yai, Songkhla, and Phatthalung as unique motorcycling destinations in southern Thailand. Designed under the theme “Unforgettable Experiences: Healing is the New Luxury,” the initiative seeks to elevate motorcycle touring as a premium travel segment.

A Journey through Culture and Scenery

Mr. Nithee Seeprae, TAT Deputy Governor for Marketing Communications, emphasized the trip’s role in promoting southern Thailand’s scenic beauty and cultural diversity. The three-day journey kicked off at Harley-Davidson Hat Yai, engaging executives, media, and influencers. Participants traveled through picturesque routes, exploring local communities, cultural landmarks, and natural attractions. Highlights included Hat Yai Street Art, Songkhla Old Town, and Phatthalung’s Tai Nod Market, showcasing the region’s charm and culinary delights.

Impact and Future Endeavors

The event drew prominent figures like Malaysian actor Elizad Sharifuddin and garnered over 20 million impressions, bolstering awareness of Thailand’s motorcycle routes. A Cars and Coffee gathering at Songkhla Public Park further engaged automotive enthusiasts from across the region. TAT and Harley-Davidson Asia plan to continue their collaboration, focusing on innovative route development and sustainable tourism, aligning with Thailand’s broader travel goals.

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Source : TAT and Harley Davidson position southern Thailand as premier motorcycle touring destination

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Rita Saffioti criticises post-budget speech

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Rita Saffioti criticises post-budget speech

Deputy Premier Rita Saffioti has chastised the editor-in-chief of The West Australian after he delivered a scathing introductory speech at the post-budget breakfast.

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Commerzbank raises 2026 profit target, sets 21% return goal

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Commerzbank raises 2026 profit target, sets 21% return goal

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Shakti Pumps shares tumble 7% as Q4 profit drops 65% YoY

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Shakti Pumps shares tumble 7% as Q4 profit drops 65% YoY
Shares of Shakti Pumps tumbled 6.77% to Rs 555.15 during Friday’s trading session after the company reported a sharp decline in profitability for Q4FY26, even as revenue posted healthy growth.

On the operational front, revenue from operations rose 28.9% YoY to Rs 857.8 crore, up from Rs 665.3 crore, indicating strong business momentum. However, rising costs significantly impacted margins.

EBITDA dropped 49.2% to Rs 83.2 crore from Rs 163.9 crore a year ago, while EBITDA margin narrowed sharply to 9.7% from 24.6%, marking a contraction of 14.9 percentage points.

The company’s PAT margin also weakened considerably, falling to 4.5% from 16.6%, down by 12.1 percentage points YoY. Meanwhile, basic EPS slipped 66.3% to Rs 3.1 against Rs 9.2 in the year-ago quarter.

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Despite the muted earnings performance, the board recommended a final dividend of Rs 1 per equity share (10% of face value Rs 10 each) for FY26, subject to shareholder approval at the upcoming AGM.


Stock performance and valuation


Shakti Pumps shares have fallen nearly 36% over the past year, with the company’s market capitalisation currently at around Rs 7,347 crore.
At current levels, the stock trades at a P/E ratio of 21.46, a Price-to-Sales ratio of 4.68, and a Price-to-Book ratio of 6.09.
From a technical perspective, the stock’s 14-day RSI stands at 64.2 — approaching overbought territory but still below the 70 mark. The stock also remains under pressure on moving averages, trading below 5 out of 8 key SMAs, signalling a bearish undertone.

Also read: BSE shares fall 3% despite Q4 profit surge. Should you buy, sell or hold India’s oldest stock exchange?

Institutional investors reduce exposure

Institutional sentiment remained weak during the March 2026 quarter. Foreign Institutional Investors (FIIs) reduced their stake in the company from 5.34% to 4.83%, while mutual funds cut holdings from 6.18% to 4.92%, reflecting cautious positioning by large

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Wealthspire to Acquire $1.2 Billion Indianapolis Investment Advisory Firm

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Wealthspire to Acquire $1.2 Billion Indianapolis Investment Advisory Firm

Wealthspire to Acquire $1.2 Billion Indianapolis Investment Advisory Firm

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