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Dipan Mehta bets on NBFCs, says cleaned-up books signal fresh upside

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Dipan Mehta bets on NBFCs, says cleaned-up books signal fresh upside
In a conversation with ET Now, Dipan Mehta, Director, Elixir Equities shared a constructive but selective outlook across sectors, expressing optimism on NBFCs and pharma, caution on metals, and a clear avoid stance on certain largecaps.

On the lending space, Mehta believes the clean-up in microfinance and MSME unsecured portfolios has strengthened the NBFC segment. “I think that for investors who want to buy lenders, NBFC is a great segment… a lot of NBFCs now have cleaned up their books… whatever the NPA they had are well behind them.”

He emphasised a preference for diversified lenders rather than niche players. “Our preference is for NBFCs which are doing multi-product… not just housing or automobile loans or microfinance or gold loan.” He cited Bajaj Finance, Chola and L&T Finance as preferred names, while disclosing investments in them.

Turning to solar equipment manufacturers, Mehta acknowledged that the bullish call has not played out immediately. “We have been very positive on all solar equipment manufacturing companies… that call is not proving right so far.” However, he maintained that long-term investors could benefit. “If you have a longer-term view… this is a nice sustainable compounding industry and can deliver good returns.” On the recently imposed 126% customs duty, he said, “This… will not impact India’s solar equipment industry to any major extent… Waaree included,” adding that valuations have turned attractive, even as he disclosed existing investments in the space.

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On the underperformance of Reliance Industries, Mehta offered a structural explanation. “I have a different view and that is that it is slowly going to become a holding company.” He suggested that investors may be uncomfortable with the prospect of IPOs for Jio and retail without a clear vertical split. “We would have preferred a vertical split… given free shares to all the shareholders.” Until there is clarity on restructuring, he believes the stock could remain subdued, though he reiterated that it remains a great company.


In real estate, Mehta advised patience and selectivity, favouring larger developers with rental income streams. “I would prefer the larger ones, especially those which have got some annuity assets as well.” He referred to companies like Prestige and DLF as examples and added that investors should broadly focus on players with rental assets, given the supply of new listings and valuation adjustments underway.
On tobacco counters, particularly ITC Limited, his stance was unequivocal. “Yes, we have a view and it is an avoid. It is not an FMCG stock. It is a tobacco stock and it is valued accordingly.” He said growth visibility remains limited. “I do not see ITC growing at double digit type of growth rates in the foreseeable future.” Instead, his focus is on small and midcap companies with unique business models and more reasonable valuations after the recent correction.Discussing the GLP-1 opportunity in pharma, Mehta acknowledged its potential but warned about competition. “You are right, it is a good opportunity. But just too many players over there.” Even so, he remains constructive on the broader sector. “On the whole investors should be overweight pharma.” He noted that CDMO companies have seen sharp corrections and should be on investor watchlists for a potential turnaround.

On new-age digital firms such as Eternal, he said investor patience appears to be wearing thin. “Investors are losing patience… when they will turn to profitability.” However, he added, “We remain very positive on Eternal… we have a longer-term view,” signalling continued conviction despite volatility.

Finally, on metals, Mehta struck a cautious tone after a prolonged rally. “It is a cyclical industry and now it has been a great outperformer.” While he would remain invested, he is not keen on fresh entries at current levels. “At some point the cycle certainly will turn… right now I do not see the outperformance continuing.”

Overall, Mehta’s approach reflects a preference for diversified financials, an overweight stance on pharma, selective exposure in real estate and solar, caution in metals, and a clear avoidance of slow-growth largecaps — all anchored in a long-term investment perspective.

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Euro zone business lending growth slows, ECB data shows

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Family Offers $1 Million Reward in Search for Missing Mother of Savannah Guthrie

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Nancy Guthrie

The search for Nancy Guthrie, the 84-year-old mother of “Today” show co-anchor Savannah Guthrie, stretched into its fourth week on Feb. 26, 2026, with law enforcement preparing to release her Tucson-area home back to the family after extensive forensic processing, sources familiar with the investigation told NBC News.

Nancy Guthrie
Nancy Guthrie

Guthrie was reported missing on Feb. 1 after she failed to appear at church, prompting a friend to alert authorities. Investigators believe she was taken against her will from her home in the Catalina Foothills area north of Tucson during the early morning hours of Jan. 31 or Feb. 1. The Pima County Sheriff’s Office has classified the case as a kidnapping, with evidence suggesting a targeted abduction.

A significant development came earlier this week when Savannah Guthrie announced on Instagram that the family is offering up to $1 million for information leading to her mother’s recovery. In a emotional video posted Feb. 24, Savannah Guthrie said, “Someone knows how to find our mom and bring her home,” urging tips to the FBI at 1-800-CALL-FBI or directly to her, while noting anonymity is possible. The family reward aligns with FBI criteria and supplements the bureau’s own $50,000 offer.

The announcement triggered an immediate surge in activity: More than 23,000 calls have flooded the FBI tip line since Guthrie’s disappearance, including 750 in the first 12 hours after the reward video, according to a senior official. The post also prompted renewed law enforcement presence at the home on Feb. 25, with investigators, including prosecutors from Pima County, returning for what appeared to be final walkthroughs before releasing the property.

The home has been a focal point of the probe since the outset. Authorities recovered DNA evidence, including mixed samples that required processing at a private lab in Florida. However, delays in sorting the DNA could extend up to a year, officials have indicated, tempering earlier hopes for quick breakthroughs. Blood was reportedly found near the front door and on the ground outside, and footage released by the FBI shows an armed individual in a ski mask and backpack tampering with the doorbell camera and possibly removing recording devices on the night of the disappearance. Additional video recovered later contradicted initial reports of “no video” at the scene.

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Pima County Sheriff Chris Nanos has publicly cleared all family members, including Savannah Guthrie, her siblings, and spouses, of any involvement. The sheriff has described the abduction as “very targeted,” with speculation about possible surveillance of the home in advance. Investigators are coordinating with Mexican authorities amid concerns the suspect or suspects may have crossed the border, though no confirmed leads in that direction have been disclosed.

Multiple ransom notes have surfaced, according to some reports, but details remain limited as the investigation continues. The FBI’s Phoenix field office is leading the effort, with assistance from local sheriff’s deputies and other agencies. As of Feb. 25, the search marked Day 25, with no arrests and no confirmed sightings of Guthrie since she entered her home.

Nancy Guthrie, born Nancy Ellen Long on Jan. 27, 1942, in Fort Wright, Kentucky, has three children, including Savannah, Annie, and Camron. She lived independently despite mobility limitations and required regular medication. Her disappearance has drawn national attention due to her daughter’s prominence, with Savannah Guthrie repeatedly appealing for prayers and information on air and social media. The “Today” host has shared that her mother’s deep faith influenced her own, and she has described the ordeal as heartbreaking.

The case has also sparked widespread online discussion, including unverified theories and conspiracy claims on social media platforms like X, ranging from possible connections to family associates to speculation about the suspect’s identity. Authorities have urged the public to avoid spreading unsubstantiated rumors and to focus on providing credible tips.

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As the investigation progresses, the return of the home to the family signals a shift from intensive on-site forensics to broader canvassing and tip follow-up. Officials continue to express hope that the increased reward and public awareness will generate the break needed to locate Guthrie.

Anyone with information is encouraged to contact the FBI at 1-800-CALL-FBI (1-800-225-5324) or submit tips online at tips.fbi.gov. The family has emphasized that the $1 million reward applies specifically to information leading to Nancy Guthrie’s recovery, per established FBI guidelines.

The emotional toll on the Guthrie family remains evident, with Savannah Guthrie’s public pleas underscoring the urgency. As the search enters late February, the nation watches and waits for resolution in this high-profile case.

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Singapore’s Grab bets on AI, new services to triple profit by 2028

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Singapore’s Grab bets on AI, new services to triple profit by 2028


Singapore’s Grab bets on AI, new services to triple profit by 2028

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Nestle puts pressure on underachievers with new bonus structure

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Nestle puts pressure on underachievers with new bonus structure


Nestle puts pressure on underachievers with new bonus structure

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BTS ‘ARIRANG’ World Tour Kicks Off in April 2026 with Sold-Out Shows, Live Cinema Broadcasts and New Album

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Members of the K-pop supergroup BTS will undergo their mandatory military service, their agency says

BTS is set to make a triumphant return to the global stage with the *BTS WORLD TOUR ‘ARIRANG’*, a massive 82-date stadium tour spanning 34 cities across 23 countries from April 2026 through March 2027. The tour, supporting the group’s fifth full-length album *Arirang* dropping March 20, 2026, marks their first large-scale live performances in nearly four years following the completion of mandatory military service.

Members of the K-pop supergroup BTS will undergo their mandatory military service, their agency says
BTS ‘ARIRANG’ World Tour

The tour launches with landmark concerts at Goyang Stadium in South Korea on April 9, 10 and 11, 2026, followed by shows in Tokyo, Japan. These opening dates feature a 360-degree in-the-round stage production, promising an immersive experience for fans. Ticket sales for initial legs sold out rapidly, with North American and European phases snapped up within hours during presales and general onsales in January 2026.

BIGHIT MUSIC announced the tour in January 2026, revealing initial dates and venues. North American stops include multi-night runs at stadiums such as Raymond James Stadium in Tampa (April 25-26), Sun Bowl Stadium in El Paso, Allegiant Stadium in Las Vegas (May 23-28), MetLife Stadium in East Rutherford (August 1-2), Gillette Stadium in Foxborough (August 5-6), SoFi Stadium in Los Angeles (September 5-6) and more. European dates feature venues in Madrid, Brussels, London, Munich and Saint-Denis, France.

The tour extends into Latin America (Bogotá, Lima, Santiago, Buenos Aires, São Paulo), Oceania (Melbourne, Sydney) and additional Asian cities (Kaohsiung, Bangkok, Kuala Lumpur, Singapore, Jakarta, Hong Kong, Manila) later in 2026 and early 2027. It sets a new record for the most dates by a K-pop act on a single world tour.

To celebrate the comeback, HYBE and Trafalgar Releasing partnered for global live cinema broadcasts of select shows. Fans unable to secure in-person tickets can experience full-length concerts from Goyang (April 11) and Tokyo (April 18) in theaters worldwide. Screenings begin in April 2026 across thousands of locations in over 80 territories. Tickets went on sale Feb. 25, 2026, via platforms like Fandango, Cinemark and the official BTS live viewing site.

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A teaser trailer titled “Mic Drop” offers a first glimpse of the 360-degree stage setup and high-energy production. Additional live viewings are planned later in the year.

The tour ties into the release of *Arirang*, BTS’s first group album since their hiatus. Pre-orders opened Jan. 16, 2026, with the album dropping March 20 at 1 p.m. KST. The title track and themes reflect introspection, longing and universal emotions, defining BTS on their terms.

A free comeback concert, *BTS THE COMEBACK LIVE | Arirang*, is scheduled for March 21, 2026, at Gwanghwamun Square in Seoul. The one-hour event sold out instantly on Feb. 23, 2026, with over 100,000 fans crashing the booking system. Authorities expect around 260,000 attendees in the area, plus nearby fan events for 30,000. The concert streams live on Netflix to 190 countries, chronicling the group’s first full-team live show in years.

The album release coincides with Netflix’s *BTS the Comeback Live | Arirang* documentary, streaming March 21, 2026, at 7 a.m. ET.

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All seven members — RM, Jin, SUGA, j-hope, Jimin, V and Jungkook — completed military service by mid-2025, enabling the full-group reunion. The tour represents their “fresh start” after individual projects and enlistment.

Fan excitement remains high, with ARMY praising the ambitious scale and innovative staging. Speculation on setlists includes classics like “Mic Drop,” new tracks from *Arirang* and surprises. Billboard and other outlets shared dream setlists anticipating hits and deep cuts.

As preparations intensify, BTS continues engaging fans through Weverse updates and trailers. The *ARIRANG* tour underscores their enduring global impact, blending K-pop innovation with massive production.

With sold-out stadiums, cinema events and a new era of music, 2026 promises to be a landmark year for BTS and ARMY worldwide.

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Aussie shares reset records as earnings boon rolls on

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Aussie shares reset records as earnings boon rolls on

Australia’s share market has broken multiple records as it nears the end of a solid earnings season that delivered outsized returns for bigger miners, banks and consumer staples stocks.

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Walmart Inc. Stock Holds Steady Near $126 Amid Post-Earnings Recovery and Cautious 2027 Outlook

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Shares of Walmart rose as it reported higher profits and lifted its forecast

Walmart Inc. (NYSE: WMT) shares traded modestly higher Thursday, closing around $126 on Feb. 26, 2026, as the retail giant stabilized following a mixed reaction to its fiscal fourth-quarter results and forward guidance.

Shares of Walmart rose as it reported higher profits and lifted its forecast
AFP

The stock opened near $126.60, fluctuated between a low of approximately $125.40 and a high near $127.40 in recent sessions, with volume averaging 15-20 million shares. After dipping to $124.87 on Feb. 19 following earnings, shares rebounded modestly, reflecting investor digestion of strong holiday performance offset by tempered expectations for the year ahead. Walmart’s market capitalization remains above $1 trillion, solidifying its status as one of the world’s most valuable companies.

The latest momentum stems from Walmart’s Feb. 19 report for the quarter ended Jan. 31, 2026 — the holiday period. Revenue reached $190.7 billion, up 5.6% year-over-year and beating estimates of $190.4 billion to $190.43 billion. Adjusted earnings per share came in at $0.74, edging past the $0.73 consensus. Operating income grew 10.8%, outpacing sales, while global e-commerce surged 24%, fueled by store-fulfilled pickup, delivery and marketplace expansion.

Full-year fiscal 2026 figures showed revenue of $713.2 billion, up 4.7%, with adjusted operating income advancing faster than sales. Global advertising business grew 46% to nearly $6.4 billion, including contributions from VIZIO. Membership fee revenue rose 15.1%, and Walmart U.S. comparable sales increased 4.6% excluding fuel.

The company announced a new $30 billion share repurchase authorization in February, underscoring confidence in capital returns. It also raised its annual dividend 5% to $0.99 per share, maintaining a reliable yield around 0.8% and extending a 52-year streak of increases.

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Guidance for fiscal 2027 tempered enthusiasm. Walmart projects net sales growth of 3.5% to 4.5% (constant currency), adjusted operating income up 6% to 8%, and adjusted EPS of $2.75 to $2.85. Analysts had modeled higher figures — around 4.8% sales growth and $2.96 to $2.98 EPS — leading to initial selling pressure. Shares fell about 1.4% on earnings day but recovered as some viewed the outlook as conservative or “sandbagged.”

Analysts largely maintain optimism. Consensus leans toward “Buy” or “Moderate Buy,” with recent upgrades including Tigress Financial raising its target to $150 from $135 on Feb. 25, citing strong Q4 momentum. Truist Securities lifted its target to $139 from $127, while Bernstein moved to $134 from $129, both reiterating positive ratings. Average 12-month targets cluster around $131 to $134, implying modest upside from current levels, though highs reach $150 and some conservative estimates sit lower.

Walmart’s edge over peers persists. The stock has outperformed major retailers like Costco (down year-to-date in some comparisons), Amazon and Target amid economic uncertainty. E-commerce acceleration, advertising growth and Sam’s Club strength provide diversification beyond traditional grocery and general merchandise.

Challenges include consumer caution, food inflation mitigation and pharmacy headwinds from legislation. Yet Walmart’s scale, supply chain investments and AI-driven personalization position it well. Executives highlighted digital momentum as a key driver, with e-commerce profitability improving.

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The next earnings report arrives in May 2026 for the first quarter of fiscal 2027. Analysts project EPS around $0.63 to $0.65 on 3.5% to 4.5% sales growth. Focus will remain on holiday carryover, consumer spending trends and execution on automation, marketplace and advertising.

As Walmart navigates a competitive retail landscape, its defensive qualities — everyday essentials demand, dividend reliability and buyback program — appeal to investors seeking stability. While guidance disappointed some, the underlying business health and strategic investments suggest resilience ahead.

With shares near recent highs and trading at a premium valuation, Walmart continues to draw attention as a retail bellwether. Whether it sustains momentum depends on delivering on guidance and capitalizing on digital tailwinds in an evolving consumer environment.

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Drax reports sharp drop in profits amid job-cutting cost saving efforts

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The firm has pointed to having generated a record amount of power this year

Drax Power Station

Drax Power Station(Image: Getty Images)

Power giant Drax has reported a steep drop in operating profits, just days after job losses at its Yorkshire base were revealed.

New full year results for the FTSE250 firm show operating profit fell from £850m to £241m in 2025, as pre-tax profit slumped from £753m to £190m. Drax said the numbers reflected non-cash impairments of £378m, including £337m related to having paused setting up of pellet production at Longview in the US, lower expected margins, a “constrained” Canadian fibre market and future demand from the Selby power station.

There was also a £48m impairment attached to bioenergy with carbon capture (BECCS) and storage plans at the site which have not come to fruition but which Drax said it could develop in the long term. That comes after Drax paused its BECCS plans in March 2023.

Despite the fall, the firm said it had generated record levels of renewable power including about 6% of the UK’s power requirement and 11% of UK renewables overall. The Selby plant is the largest power station in the UK and the firm has talked of developing options for a 1.2GW-scale data centre there.

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The results come as Drax is targeting cost savings of more than £150m per year from 2027, compared to its 2024 costs. Last month it announced a restructure which will bring 350 job cuts across its UK and US operations.

Drax Group CEO, Will Gardiner, said: “In 2025, we produced more renewable power than ever before, delivering energy security for the UK. Our colleagues and supply chain partners work around the clock to help keep the lights on for millions of the UK’s households and businesses, no matter the weather.

“The signing of the new low carbon dispatchable contract for difference is an inflection point for the group. It provides the foundation for us to keep supporting the UK with the flexible, renewable power it needs for security of supply this decade and beyond. The energy transition and growth in AI are creating opportunities for us to invest and grow our business further in line with the country’s energy needs.

“We are making good progress on this with our initial investments in battery energy storage systems (BESS), which we see as an attractive market. We will continue to explore options to invest in flexible and renewable energy, creating value for stakeholders and attractive returns for shareholders in line with our capital allocation policy.”

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Finbar profit up amid board changes

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Finbar profit up amid board changes

The apartment developer has posted a $10.6 million profit and has appointed Melissa Chan to executive director.

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Jobs to be created as new North East public sector procurement solution launched

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The £20bn NEPRO Innovation is a platform through which public sector organisations can procure goods, services, works and technology

NEPRO Innovation is the new £20bn project from NEPO and Constellia.

Top row from left: Katie Dawson, NEPRO procurement coordinator; Ruth Long, NEPRO lead; Michael Murray, NEPO commercial manager; Aimee Cook, Constellia operational procurement and systems lead, and Terence Milner, Constellia public sector and utilities director. Seated, from left: Nicola Shelley, NEPO managing director; Rob Levene, Constellia chairman, and Steven Sinclair, NEPO procurement and commercial director.(Image: NEPRO)

More than 30 jobs are to be created with the launch of a new service to connect North East firms with public sector contracts.

The North East Procurement Organisation (NEPO) says it will open a new office to serve its £20bn NEPRO Innovation solution. The project, which is being delivered in partnership with London-based counterpart Constellia, promises a “more flexible, transparent and efficient route to market for public sector organisations and suppliers alike”.

Based out of offices in The Catalyst building on the Newcastle Helix site, NEPRO Innovation is designed by the NEPO team. It is intended to help navigate multiple frameworks for different categories, including everything from IT infrastructure to consultancy and construction projects.

It will be delivered through NEPO’s neutral vendor model and will see Constellia build on and adapt the approach it has used across 300 organisations, managing more than £400m spending. Under the arrangement, Constellia works with organisations to source the most suitable and appropriate supplier.

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It manages a marketplace of more than 4,000 suppliers, many of which are SMEs. The model can be adapted to different needs and is said open doors for small businesses, giving procurement teams additional capacity when they need it.

Steven Sinclair, procurement and commercial director at NEPO, said: “NEPRO Innovation is the latest addition to the NEPRO portfolio, representing a step change in how the public sector delivers outcomes through a single, compliant route to market. Enabled by the Procurement Act 2023 and designed by procurement professionals, it allows delivery of complex projects that may require cross-category expertise, commercial flexibility and robust contract management.

“It is particularly suited to authorities seeking innovative, outcome-focused solutions while maintaining the compliance, assurance and governance standards expected within the public sector. NEPRO Innovation is accessible to the public sector through our free NEPO Associate Membership, offering a straightforward, low-risk route to high-quality procurement outcomes.”

Rob Levene, chair of Constellia, added: “We’re delighted to partner with NEPO on their second neutral vendor framework. NEPO’s trusted reputation and public sector expertise complement Constellia’s established neutral vendor approach. We’ll be delivering NEPRO Innovation using the same proven methodology that has worked successfully across our existing client base.

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“The national availability of this framework means public sector organisations across the UK can benefit from this combined strength.”

John McCabe, chief executive, North East Chamber of Commerce, added: “Unlocking the North East economy means making sure businesses of all sizes can access opportunity and compete on a level playing field. Too often, small and medium-sized enterprises find public procurement complex and difficult to navigate.

“NEPO’s more open and flexible approach through NEPRO Innovation is a positive step towards widening participation, strengthening local supply chains and ensuring more public sector investment supports North East growth. It is encouraging to see organisations from our region leading innovation that can deliver lasting economic impact.”

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