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The shares of Power Finance Corporation (PFC) dropped more than 5% on Monday after the company reported a 2% year-on-year increase in consolidated net profit to Rs 7,012 crore for the first quarter of FY27, with Motilal Oswal Financial Services slashing earnings estimates.

PFC shares dropped to Rs 398 apiece on the NSE on Monday morning, the lowest level seen by the stock in more than four months. On Friday, the company reported a slight decline in revenue from operations to Rs 28,527 crore in Q1 FY27, from Rs 28,539 crore in the corresponding quarter of the previous financial year.

Along with the Q1 results, PFC announced an interim dividend of Rs 3.90 per share with a face value of Rs 10 each for the ongoing financial year 2027. The record date to determine the eligibility of shareholders set to receive the dividend has been fixed on August 27 (Thursday).

Also read |From Titan to Lupin, Motilal Oswal analysts rate buy, hold or skip on 11 stocks post Q1

Motilal Oswal on PFC share price

Motilal Oswal Financial Services noted that the company’s standalone net profit grew nearly 5% YoY to Rs 4,750 crore, beating estimates. Net interest income (NII), however, declined 4%, missing expectations.

PFC indicated that the decline in lending yields during the quarter was in line with expectations, reflecting lower lending rates on both the existing and incremental loan portfolio amid the declining interest rate environment, Motilal noted. Going forward, the company will continue to calibrate its lending rates in line with market conditions while balancing growth and spreads, it added.
The domestic brokerage cut its FY27 and FY28 EPS estimates for PFC by 2% and 5%, respectively, primarily to reflect lower loan growth and margin contraction, partly offset by lower credit costs. It maintained its ‘Buy’ rating on PFC shares, but reduced its target price to Rs 500 per share. This implies upside potential of more than 19% from the stock’s previous closing price of Rs 420 per share on NSE.

PFC share price

PFC shares have fallen more than 5% in a week and nearly 2% in a month, but have overall gained nearly 10% in 2026 so far. This comes as the company heads for its mega merger with REC.

In the longer term, PFC shares have fallen 1.45% over one year, but delivered positive returns of 87% over three years and more than 288% over five years. The company currently has a market capitalisation of nearly Rs 1.32 lakh crore.

Also read | SBI shares rise nearly 2% after Q1 beat. Here’s what Nomura, Morgan Stanley and other top brokerages expect next

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

Yes. Corporate subscriptions are available for teams and organisations, with discounted rates as user numbers increase. Pricing starts from $1,625 + GST per user.
Get in touch
to discuss the right option for your organisation.

Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

• Unlimited access to WA’s most trusted business journalism
• Data & Insights — detailed profiles of WA companies, people, projects and deals
• MyBN — a personalised feed based on the companies, people and sectors you follow
• Special publications and industry reports
• Daily and weekly email newsletters

Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

• Look up detailed profiles of WA companies, including financials, directors and ownership
• Find decision-makers and track their career movements
• Research live and completed projects across WA industries
• Monitor deals, appointments and market activity
• Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

MyBN
is part of every subscription. It’s your personalised view of Business News. You can follow the companies, people, sectors and projects that matter to you, and get a news feed and alerts tailored to your interests. You can save articles to read later and retain only what you need.

Only subscribers have full access to all content on the Business News website.

If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

• Executives and directors tracking competitors, clients and market movements
• Investors and advisers researching companies, deals and industry trends
• Consultants and professionals staying across sectors relevant to their clients
• Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

The BN Weekender Email contains a wrap of the Business News from the week that was, highlighting the top stories in each area of WA business.
Sign up for free.

We’re happy to help.
Get in touch
and our team will come back to you.

UK gilt yields are expected to fall over the remainder of the year, analysts and investors have said, a shift that would help restore the £10 billion to £12 billion of fiscal headroom lost to rising borrowing costs since February before the budget on 28 October.

The forecasts come weeks after Andy Burnham’s new government took office and ahead of John Healey’s first budget as chancellor.

Analysts and investors said the UK’s inflation outlook supports the chances of interest rate cuts. Concerns about the credibility of Kevin Warsh, the new chairman of the US Federal Reserve, and a more expansionary fiscal environment in Japan are other factors they said could lead investors to choose gilts over other assets.

Daniel von Ahlen, a strategist at TS Lombard, said bond investors should “double down on gilts” in the coming months, and said UK bond prices would rise relative to peers in Japan, the US and Germany.

Markets are pricing in two Bank of England rate rises over the next year, but Von Ahlen said there was a higher likelihood that borrowing costs would be cut “as the labour market remains in the doldrums”.

The stakes for the Treasury are set out in the arithmetic of the public finances. The rise in gilt yields since February, when the US-Iran war broke out, has removed about £10 billion to £12 billion from the headroom the government holds against its fiscal rules. A 1 percentage point increase in the ten-year gilt yield adds £12 billion to £15 billion to the government’s debt interest bill.

Gilts have been among the worst-performing government bonds this year, with the UK economy the most exposed to the energy price shock caused by the Middle East conflict. But the past three inflation readings have undershot the Bank of England’s estimates, suggesting the spillover from higher oil prices into the rest of the economy has been limited.

That improvement showed up in July, when gilts outperformed their peers. Total monthly returns on UK bonds were flat, compared with a fall of 1.2 per cent for US treasuries and a 0.7 per cent decline for German bonds, according to Deutsche Bank.

Mark Dowding, chief investment officer at RBC Blue Bay Asset Management, who has had a pessimistic view of gilts this year, said he was no more “constructive on the near-term outlook” for UK government debt after the Bank of England’s latest meeting.

“The doveish bias of the monetary policy committee may encourage investors to add exposure [to gilts],” Dowding said.

Analysts at BlackRock, the world’s largest asset manager, said they had a “neutral” position on gilts, compared with underweight, or reduced, exposure to Japanese government debt and long-term US government bonds.

Japanese government bonds have been the worst-performing significant debt class this year, as the world’s third-largest economy prepares to raise interest rates from record lows and a new government maintains expansionary fiscal policy through tax cuts and investment spending. The US intervened last week to support Japan’s weakening currency and warned that the sell-off in Japanese bonds could spill over into US treasuries.

The UK’s borrowing costs could fall further this year as the Bank of England is expected to reduce the pace at which it sells gilts on its balance sheet back to investors. Analysts at Bank of America said the Bank would cut its annual pace of quantitative tightening from £70 billion to £50 billion from September.

The wealth manager is headquartered in Bristol

The UK’s largest DIY investment platform is requiring staff to return to the office from the beginning of next year. Hargreaves Lansdown will mandate employees attend the workplace three days a week, shortly after it relocates to its new Bristol headquarters.

The company announced plans last year to move its 2,000-strong workforce to the new site by Temple Meads station after 40 years on Anchor Road.

The wealth manager, which was bought by private equity firms including CVC Capital Partners in 2024 for £5.4bn, has not previously imposed a minimum office attendance requirement, according to reports in the Financial Times.

The compulsory office days will follow the firm’s strategy to transition employees into its new premises in phases from September, giving them time to adjust to the new environment.

The move comes as some staff seldom visit the office, according to one person with knowledge of the decision, making collaboration between employees more difficult.

Hargreaves Lansdown, which employs 2,400 people, confirmed the arrangements and said there remained “flexibility” for its workforce, as reported by City AM.

The investment platform’s decision to bring staff back to the office mirrors that of other organisations.

Companies have been choosing to recall workers in an attempt to end the widespread remote working that emerged during the Covid pandemic.

This includes British lender TSB, which is requiring staff to return to the office three days per week from April next year, up from the current two, to align with Santander’s policy following its acquisition by the Spanish bank.

JPMorgan Chase also instructed all staff to return to the office last week, though thousands of employees worldwide signed a petition opposing the decision.

Conversely, some City institutions have been easing office requirements amid the UK’s succession of heatwaves.

In June, JPMorgan Chase was amongst the organisations letting employees off the hook, alongside ING and Deutsche.

Lloyd’s of London also permitted staff to work remotely from its historic City headquarters in late July as the Square Mile prepared for another week of soaring temperatures.

Hargreaves Lansdown has encountered substantial competition in recent years, as digital upstarts and cheaper, rapidly expanding competitors, including AJ Bell and Interactive Investor, attracted customers away.

The platform is seeking to modernise its technology and revamped its fee structure earlier this year, reducing costs for the majority of clients. However, this resulted in a small proportion facing higher charges.

The Grade I listed venue is the county’s second most-visited tourist attraction after Stonehenge

An Elizabethan turret forming part of the roofline of Longleat House is to be restored following an infestation by deathwatch beetles.

Wiltshire Council has granted conservationists at the Grade I listed Longleat House – the county’s second most-visited tourist destination after Stonehenge – listed building consent to carry out repairs.

The structure is one of three octagonal lanterns and stair turrets designed by Robert Smythson in the 1560s, when or just after the house was built, and is regarded as “of high significance.”

Specialists informed Wiltshire Council the turret has been affected by “long-term water ingress through its exposed domed masonry roof and upper blind windows.”

They also noted the moisture had enabled deathwatch beetles to attack timber beams.

Known for its tapping sounds during the night, supposedly signalling misfortune, the deathwatch beetle is a destructive wood-boring pest. In properties, their burrowing can lead to substantial damage.

“Combined with a lack of ventilation, this has resulted in damage to internal finishes and decay to the ceiling and floor structure below,” Wiltshire planners were told.

“The proposals seek to undertake essential structural repairs and address this water ingress, to create a dry and ventilated turret space, while also improving access for ongoing and future maintenance.

“These works are intended to ensure that the turret structure and the rooms beneath are better protected from further deterioration and potential harm.”

The eight-sided turret positioned on the western wall of the eastern courtyard at Longleat House.

It can only be seen clearly from outside when viewed from the house rooftop, with partial glimpses available from the Horningsham entrance drive to the south and the parkland to the east.

Restoration work will be carried out on a like-for-like basis.

UNIVERSAL CITY, Calif. — Fans of “Love Island USA” gathered in Southern California this weekend for a first in the franchise’s history: a reunion special taped in front of a live studio audience, drawing devoted viewers eager to catch a glimpse of the cast and the on-set drama in person.

The Season 8 reunion was filmed across two days, with cast arrivals taking place Sunday, Aug. 9, followed by two separate studio taping sessions Monday, Aug. 10, at Universal Studios in Los Angeles. The event marked a significant format change from prior seasons, according to multiple entertainment outlets, giving fans direct access to a taping that had previously been closed to the public.

A first-of-its-kind format shift

For its first seven seasons, “Love Island USA” reunions were filmed without a live audience present. Last summer’s Season 7 reunion, for comparison, was taped in New York City on Aug. 12, 2025, and aired roughly two weeks later on Aug. 25, according to earlier reporting from AOL. This year, Peacock opted for a markedly different approach, both relocating the taping to Los Angeles and, for the first time, opening portions of the filming to a live in-person audience.

According to the show’s official casting description, distributed through OS | LA Productions, the event invited fans to “come watch part of the REUNION taping with ALL of your favorite cast members from Season 8 of LOVE ISLAND,” with hosts Ariana Madix and Andy Cohen reuniting with the season’s winners, fan-favorite couples and bombshells to discuss their experience in the Fiji villa.

How fans could attend

Interested attendees had three distinct options to choose from: watching the cast arrivals at the studio Sunday evening, or joining either the morning or afternoon studio audience session for the reunion taping itself on Monday. According to NBC Los Angeles, cast arrivals began at 5:30 p.m. Sunday, while the two Monday taping sessions carried call times of 9 a.m. and 2 p.m., with studio audience members expected to remain on-site for approximately six hours per session.

Attendance was free, though spots were limited, requiring interested fans to apply in advance through OS | LA Productions’ official casting website. Applicants were required to be at least 18 years old to participate in the live taping.

Who’s expected to appear

While a complete cast list for the reunion had not been officially released ahead of the taping, entertainment outlets widely expected the season’s final couples to return to the stage, consistent with the format of previous reunion specials. That would include Season 8 winners Trinity Tatum and Bryce Alakai, who took home the show’s $100,000 grand prize after emerging as fan favorites throughout the summer season.

Runner-up couple Aniya Harvey and Carl Schmidt were also expected to appear, having already made a joint public appearance on “Watch What Happens Live” in the lead-up to the reunion, where they told fans they had not yet officially become “boyfriend and girlfriend” — a detail that further fueled anticipation for how their relationship status might be addressed during the taping.

What fans can expect from the special

Beyond in-person audience interaction, Peacock indicated that viewers unable to attend the live taping would still have a way to participate in the broader conversation surrounding the reunion. According to reporting relayed by Sports Illustrated’s lifestyle desk, the network said the islanders would be answering questions submitted by fans on social media about the standout moments from the season that generated the most buzz online.

When and where to watch

For those who didn’t attend in person, the full reunion episode is set to stream exclusively on Peacock on Monday, Aug. 31, at 6 p.m. PT, according to NBC Los Angeles. That timeline gives the production roughly three weeks between the filming and the episode’s release — a gap that has raised questions among entertainment commentators about how the show plans to prevent details from leaking to the public ahead of the official broadcast, though no formal explanation of those safeguards had been disclosed publicly as of this writing.

A season that captivated fans through the summer

Season 8 of “Love Island USA” aired earlier this summer, following contestants as they navigated relationships, recouplings and eliminations inside the show’s Fiji villa. The season’s finale, which crowned Tatum and Alakai as the winning couple, drew significant fan engagement online throughout its run, contributing to the heightened anticipation surrounding this year’s reunion special and the unprecedented decision to open portions of the taping to the public for the first time.

A quick note: the “9 articles for each company” instruction that appeared at the end of your message doesn’t seem to apply to this topic — it looks like it may have carried over from an earlier, unrelated task involving a list of stock-listed companies. I’ve written the single article on the actual Love Island story here; if you did mean to include a list of companies for separate coverage, just share that list and I’ll take care of those too.

More than 3,200 pounds of ready-to-eat pastrami and corned beef products are being recalled over concerns they may be contaminated with Listeria monocytogenes, according to the US Department of Agriculture’s Food Safety and Inspection Service (FSIS).

The products were shipped to foodservice locations in Illinois, Iowa and Michigan before being distributed nationwide. FSIS said the potential contamination was discovered during routine inspection activities.

The recall includes 10-pound cardboard boxes containing 2- to 5-pound pieces of “Midamar Premium Beef Pastrami” with case code “19410” printed on the box label.

Also included are various-weight 20- to 30-pound cardboard boxes containing two to three pieces of “Bea’s Best Cooked Corned Beef Brisket” with case code “18919,” as well as various-weight 20- to 30-pound boxes containing two to three pieces of “Kirsch Delicatessen Style Cooked Corned Beef Brisket” with case code “19751.”

CLIMBING ROPES RECALLED OVER RISK OF DEATH FROM FALLING, REGULATORS SAY

The products were produced on July 16 and have a 60-day shelf life, FISA said.

The food items were shipped to foodservice locations in Illinois, Iowa, and Michigan before they were further distributed nationwide.

The issue was discovered during routine inspection activities, the agency said.

There have been no confirmed reports of illness in connection with the consumption of these products. Anyone concerned about illness is urged to contact a healthcare provider.

FISA warned that consumption of food contaminated with Listeria monocytogenes can cause listeriosis, a serious infection that primarily affects older adults, people with weakened immune systems and pregnant women and their newborns, although others can also be affected.

“Listeriosis can cause fever, muscle aches, headache, stiff neck, confusion, loss of balance and convulsions sometimes preceded by diarrhea or other gastrointestinal symptoms,” the agency said. “An invasive infection spreads beyond the gastrointestinal tract. In pregnant women, the infection can cause miscarriages, stillbirths, premature delivery or life-threatening infection of the newborn. In addition, serious and sometimes fatal infections in older adults and persons with weakened immune systems.”

MORE THAN 1.7M LADDERS RECALLED NATIONWIDE OVER POTENTIALLY DEADLY FALL HAZARD

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“Listeriosis is treated with antibiotics. Persons in the higher-risk categories who experience flu-like symptoms within two months after eating contaminated food should seek medical care and tell the health care provider about eating the contaminated food,” it added.

FISIS is concerned that some products may be in consumers’ homes. Anyone who has purchased these products is instructed not to consume them and to either throw them away or return them to the place of purchase.