The budget carrier is preparing to add another aircraft to its fleet at the South West airport

Budget carrier easyJet has launched a new flight route from Bristol Airport to Spain. The airline’s new Seville service took off over the weekend and is now operating twice a week – on Tuesdays and Saturdays – to Andalusia’s capital.

The news comes as easyJet prepares to add its 20th aircraft to its fleet at Bristol, and launch new routes to Reus, in Spain, and Thessaloniki, in Greece, this summer.

Kevin Doyle, easyJet’s UK Country Manager, said: “We are delighted to celebrate the launch of our new service from Bristol to Seville, further expanding the range of routes and destinations available for our customers in the South West at fantastic fares.

“Our continued success in Bristol is a clear testament to the popularity of our flights and holidays and the growth of our fleet with an additional aircraft this summer will further unlock the opportunity of the demand that we see for both leisure and business travel.”

Rupert Lawrie, commercial director at Bristol Airport, added: “We are thrilled to welcome easyJet’s new route to Seville. This Spanish city is an incredible place, renowned for its rich history, vibrant culture and world-famous architecture. Not only is it a great base to explore all the leisure opportunities that southern Spain has to offer, but it opens up even more links for European visitors to the South West.

“It also plays an important role in connecting regional businesses with key international markets, including global leaders such as Airbus. We’re proud to continue working with easyJet expanding travel opportunities for all of our customers and making it easier to explore and connect.”

In April, easyJet Holidays chief executive Garry Wilson told its customers they could be “confident” bookings with the company would “go ahead as planned” without extra surcharges amid rising fuel costs caused by the Middle East conflict.

“We know that holidaymakers may have questions about what recent global events might mean for their travel plans this summer, so we are giving our customers absolute peace of mind that no surcharges will be added to their flights or package holidays,” he said at the time.

Last month, easyJet warned the impact of the Iran war would likely hit its profits. The company expects an increased pre-tax loss of £540-£560m for the six months to March.

But the airline typically generates more revenue in the second half of the year, which includes the busy summer season.

Hero MotoCorp shares gained as much as 2% to their day’s high of Rs 5,238 on the BSE on Wednesday after the two-wheeler major reported a robust performance for the March quarter, with record revenue and profit for Q4 FY26.

Revenue from operations rose 29% YoY to Rs 12,797 crore, compared with Rs 9,939 crore in the same period last year. Profit after tax increased 30% year-on-year to Rs 1,401 crore, up from Rs 1,081 crore. EBITDA came in at Rs 1,856 crore for the quarter, registering a 31.1% rise from Rs 1,416 crore a year earlier.

The company sold 17.14 lakh motorcycles and scooters during the quarter, marking a 24% increase over the year-ago period, driven by demand across entry-level, premium and scooter categories. The board also recommended a final dividend of Rs 75 per equity share of face value Rs 2 each, subject to shareholder approval.

Should you buy Hero MotoCorp shares?

Goldman Sachs has maintained a Sell rating on Hero MotoCorp, with a target price of Rs 4,300, a downside of 16% from the current levels. The brokerage said the company’s Q4 performance was broadly in line with estimates, with average selling prices improving sequentially on the back of a richer product mix and price hikes. It highlighted commodity inflation and supply chain stability as key factors to watch, along with the company’s market share outlook for FY27 and export trends.

Hero Moto management commentary

Hero MotoCorp said it has retained its position as the world’s largest manufacturer of motorcycles and scooters for the 25th consecutive year, reinforcing its leadership in the segment.
It also expanded its product portfolio with a series of new launches and updates, including the HF Deluxe Pro, Glamour X, Destini 125, Destini 110, Xoom 160, Xtreme 125R and Xpulse 210. Market share gains were driven by the entry-level segment, led by the HF Deluxe Pro, along with feature upgrades in models such as the Passion+ and the Splendor+ with XTEC 2.0 enhancements.Also read: Will Meesho’s 60% comeback rally cool or will Q4 serve as a new launchpad?

In the premium segment, the Harley-Davidson portfolio saw expansion with the launch of the H-D X440T, the return of the Street Bob, and the introduction of the new Road Glide and Street Glide models.

VIDA, the company’s electric mobility business, recorded its highest-ever annual retail performance, registering 190% growth over the previous year.

(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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Moody’s Corporation (MCO) Barclays 18th Annual Americas Select Conference May 6, 2026 4:45 AM EDT

Company Participants

Noemie Heuland – Senior VP & CFO

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Conference Call Participants

Manav Patnaik – Barclays Bank PLC, Research Division

Presentation

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Manav Patnaik
Barclays Bank PLC, Research Division

Thank you for being here. For those of you who don’t know me, my name is Manav Patnaik. I cover business and information services for Barclays. We’re pleased to kick off day 2 for us, at least here with Moody’s CFO, Noemie Heuland. Thank you for being here, Noemie.

Noemie Heuland
Senior VP & CFO

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Thank you.

Question-and-Answer Session

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Manav Patnaik
Barclays Bank PLC, Research Division

Maybe, Noemie, I figured the best place to start would be, I think, last year when you came here, it was your first time in London and you just started, it’s been about 2 years now. So maybe just some of your reflections and thoughts over the last 2 years. I know maybe when you first started, things were, you’re in a nice stable Moody’s company. Now things have completely changed, but just your thoughts.

Noemie Heuland
Senior VP & CFO

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Yes. It’s always been pretty moving environment for the past 5, 6 years. So we’re getting used to our first quarter being a little bit hectic. But it’s been 2 years. I think we’re fortunate to have joined at a very exciting time for Moody’s. We have very strong momentum and deep currents in our debt capital markets across both the U.S. and Europe and Asia Pac. So Moody’s has a big rule about the different dynamics between public and private markets.

A lot of very strong funding needs that underpin the demand for credit and ratings, AI-related infrastructure, maturity walls are very strong. So a lot of exciting — and we’ve invested a lot

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A Texas candy company with roots dating back more than a century is winding down most of its operations as rising costs and shrinking margins pressure the long-running family business.

Lammes Candies, an Austin-based confectioner founded in the 1800s, said it will begin an “orderly wind-down of operations” after 141 years of continuous family ownership, according to a statement posted to the company’s Facebook page.

“This was not an easy decision,” the company said. “Lammes Candies has been more than a business – it has been a family legacy spanning generations.”

In an interview with FOX 7 Austin, company vice president Lana Schmidt pointed to mounting economic pressures that have made it increasingly difficult to sustain the business.

CALIFORNIANS FLEE HIGH COSTS – AND MANY COME OUT AHEAD FINANCIALLY, STUDY FINDS

“The economy, you know, with the raw materials going up, labor is going – it’s just everything is escalating,” Schmidt said. “There’s not a huge margin in confections.”

The company said it will fulfill remaining orders and continue selling products online while inventory lasts, with its flagship Airport Boulevard location remaining open temporarily.

Lammes has already closed its Round Rock location, with its remaining retail footprint expected to wind down in the coming weeks.

The closure underscores broader challenges facing small businesses, particularly in fast-growing cities like Austin, where rapid expansion during the pandemic era has been followed by shifting economic conditions and rising operating costs.

Founded in 1885 after the Lamme family reacquired the business, the company became known for its pecan pralines and other handcrafted sweets, building a loyal customer base across Texas and beyond.

Ahead of the shutdown, the company is offering a final round of seasonal products, including its chocolate-covered strawberries for Mother’s Day, calling the limited run a “farewell” to customers after more than a century in business.

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“We’ve been so honored to be part of your celebrations and your sweetest moments,” the company wrote in a separate post. “Now we’re asking one last thing: savor every bite.”

Billionaire and Citadel CEO Ken Griffin repeated his company’s intentions to “double down” on moving to Miami in the wake of his feud with New York City Mayor Zohran Mamdani.

“When we moved from Chicago, there was a debate between New York and Miami,” Griffin said at the 2026 Milken Institute Conference on Tuesday. “It’s unquestionably true that we made the right choice. I’ll leave it at that.”

Griffin was responding to Mamdani’s viral Tax Day video, which singled out Griffin’s Manhattan penthouse while announcing a new pied-à-terre tax.

MAMDANI TAX BREAK PROPOSAL SPARKS FEARS AS BUSINESS LEADERS WARN OF ‘FRAGILE’ NYC ECONOMY

He referred to the video as “creepy and weird” and urged his New York business partners to continue to invest in freer cities like Miami.

“Now what the mayor of New York has made clear to my partners, and principally my New York partners, is that we need to double down on our bet in Miami because we want to be in a state that embraces business, embraces education, embraces personal freedom and liberty,” he said. “And that embraces people having an opportunity to live the American dream, a dream of earned success, not a dream of distributive handouts that leave people dependent on government for their lives and their livelihoods in a way that takes away their dignity and honor.”

“We’ve seen a mass exodus of business leadership from California to Texas and Florida. Mamdani’s making it very clear. New York doesn’t welcome success,” Griffin added.

TAX FIGHT HEATS UP AS NEW YORK TARGETS WEALTHY HOMEOWNERS

In a statement to Fox News Digital, “Mayor Mamdani wants all New Yorkers to succeed. That includes business owners and entrepreneurs who create good-paying jobs and make this city the economic engine of America. It also includes Ken Griffin, who is a major employer in our City and a powerful figure in our economy.”

The statement continued, “That does not negate the fact, however, that our tax system is fundamentally broken. It rewards extreme wealth while working people are pushed to the brink. The status quo is unsustainable and unjust. If we want this city to become a place that working people can afford, we need meaningful tax reform that includes the wealthiest New Yorkers contributing their fair share.”

O’LEARY SLAMS NYC TAX PLAN AS ‘SHEER BLIND STUPIDITY,’ DEFENDS WEALTHY INVESTORS

Despite calling out Griffin in his video, Mamdani personally thanked Griffin for his donation to the New York Police Department last week.

“I want to thank everyone who is here with us in the Hall of Heroes today, with special thanks to Police Commissioner [Jessica] Tisch and NYPD leadership,” Mamdani said at One Police Plaza, speaking before department brass and families of slain officers.

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“I also want to thank Ken Griffin for funding a memorial wall that will open later this year,” he added.

SRF shares surged as much as 5.4% to hit an intraday high of Rs 2,659 during Wednesday’s trading session, after the company reported strong fourth-quarter FY26 performance, with net profit rising 11% year-on-year to Rs 582 crore.

The company’s Profit After Tax (PAT) grew from Rs 526 crore in the corresponding period last year, supported by steady revenue and operating gains. SRF also announced plans to invest Rs 2,300 crore in setting up a new plant in Odisha, signalling continued expansion.

Consolidated revenue for the quarter rose 7% year-on-year to Rs 4,615 crore, compared to Rs 4,313 crore in the same period last year. Operational earnings before interest and tax (EBIT) increased 12% to Rs 1,011 crore from Rs 906 crore a year ago.

Commenting on the results, Chairman and Managing Director Ashish Bharat Ram said the company delivered a solid performance despite a volatile operating environment. He noted that exports to the Middle East were impacted during the quarter and added that geopolitical uncertainty remains a key concern going forward, although the company remains optimistic about its growth trajectory.

Segment-wise performance showed mixed momentum across businesses. The Chemicals segment recorded a 4% increase in revenue to Rs 2,448 crore. The Performance Films and Foil segment posted a stronger 13% growth, with revenue rising to Rs 1,596 crore. The Technical Textiles segment saw a 5% increase to Rs 483 crore, while Other Businesses reported a marginal rise to Rs 89 crore.

For the full financial year FY26, SRF reported a 7% increase in revenue to Rs 15,787 crore. Operational EBIT jumped 29% to Rs 3,008 crore, while PAT surged 47% to Rs 1,835 crore compared to the previous year.
On the capital expenditure front, the company revised its earlier investment plan for a next-generation refrigerants project. Initially approved at Rs 1,100 crore in October 2024, the project outlay has now been expanded to approximately Rs 2,300 crore following land acquisition in Odisha. The revised plan includes setting up a 20,000 tonnes per annum HFO production facility, a 30,000 tonnes per annum HF plant, and manufacturing of value-added HF derivatives, along with investments in land development and utilities.The project, based entirely on SRF’s in-house technology, will be implemented in phases, with completion of the final phase targeted by February 2028.

Stock Performance and Technical Indicators

The stock is currently trading at a market capitalisation of Rs 74,782 crore. Over the past 12 months, it has touched a high of Rs 3,325 and a low of Rs 2,355.

On the technical front, the 14-day Relative Strength Index (RSI) stands at 50.9, indicating a neutral trend, with levels below 30 considered oversold and above 70 seen as overbought. In terms of moving averages, the stock is showing a mildly bullish trend, trading above five out of its eight simple moving averages (SMAs).

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

The Indian equity market is entering a phase of sharp sectoral rotation, where leadership is narrowing and thematic investing is gaining importance. According to Gautam Shah from Goldilocks Global Research while the broader indices may remain capped in the near term, sectors like energy, PSU, metals, and select pockets of real estate and pharma are setting up for stronger upside trends.

Energy remains a structural story

Shah reiterated his long-standing bullish view on energy, calling it a structural theme with durable tailwinds.

“Energy is a structural play. There are a lot of fundamental tailwinds there. Valuations seem to be comfortable and the government is at play, helping many of the Indian companies to do much bigger things on a global scale. Given all of that and given the way the charts are, I do believe that energy is a structural play and we are looking at the index going back to the previous highs at least. That would be the first working target and then much bigger upside. So, the entire basket of power and energy stocks looks good to me. We have obviously been committed to it for a couple of months now and we are playing test cricket here. We are not looking at getting out very quickly. So, think big. There is another 15% to 20% upside on the index and you just stay committed. There will be dips from time to time because the rally has been large and every time that dip happens it might be a good idea to buy fresh.”

He added that investors can either accumulate baskets or focus on selective stock picking within the space.

Auto sector under pressure
On autos, Shah maintained a negative stance and expects meaningful underperformance ahead.
“We would be negative on auto, I think that has been the stance for a couple of months now. And with auto being a direct reflection of the economy and with the way the charts are placed, there is a greater possibility of the auto index actually losing about 10-12% from here and going back to the March lows. Now, if that were to happen, then there is a big problem because a lot of stocks will come off substantially.”
He added that both autos and FMCG could remain under pressure if largecaps fail to show leadership.
Nifty stuck in a tight range
On the broader index, Shah expects consolidation with a defined trading band and limited upside unless key resistance levels are breached.

“24,600 on multiple counts was and remains a very important resistance. And as you might have noticed in the last seven days, the market is just taking a breather. There seems to be a fierce battle between the bulls and the bears within a very tight range, 23,800 on the downside and 24,250 and 24,600 on the upside. Till the Nifty does not get past 24,600, I would be cautious, I would be conservative and there is a greater possibility of a breakdown below 23,800.”

He highlighted weak leadership from IT, banking, and Reliance Industries, which together form a large part of the index.

Banks and IT remain weak links
Shah expressed caution on banks, particularly private lenders, which he believes could weigh on the index.

“Look at what HDFC Bank has done in this entire April recovery and look at where it is today in comparison to the rest of the banking space. When you have HDFC and ICICI Bank undergoing such a phase of underperformance and not being able to rally for whatever reasons, questions about their growth, FII selling, the fact that they are all richly valued versus peers around the world, you can put out a lot of cases there. But it is out there that private banks are underperforming and if that is going to continue, Nifty will find it difficult to rally.”

He added that PSU banks remain mixed, with only one large name standing out.

Sector rotation into PSUs, metals and pharma
Shah believes the market is now entering a phase of rotational strength across previously underperforming sectors.

He remains bullish on PSU, metals, defence, capital goods, and real estate over a 6–12 month horizon. He also sees early signs of revival in chemicals, textiles, and pharma.

“Pharma is one space that we continue to like… a bigger breakout is coming after 18 months of consolidation and it will do exceedingly well.”

On metals, he remains strongly constructive with a long-term structural view:

“Our working target for the NSE Metals Index is about 14,000… The rest of this year will belong to metals.”

Real estate showing bottoming signs
Shah sees real estate as a high-conviction medium-term opportunity after a deep correction.

“We are going to see a large 25% rally on the index from current levels… So, it is an opportunity, but do not look at it short term. There will be volatility in the short term, but now they will start a sequence of higher tops and higher bottoms.”

Crude oil and macro risks
On crude oil, Shah flagged it as a key risk factor for India.

“Nymex crude is likely to remain elevated… eventually it can gradually go towards a 120-125 number. Now if that were to happen, it is definitely a big impact on the economy more medium-term.”

He also pointed to rupee weakness and global AI-driven disruption as additional headwinds for foreign inflows.

Final takeaway: be selective and concentrated
Summing up his strategy, Shah advised a focused approach rather than broad diversification.

“Be concentrated, be in companies that have less to do with foreign policy and be with companies that have relative better earnings visibility for the next three to five years. Anything and everything in this market will not work because you do not have the index tailwind in your favour.”