ET Now spoke to Aman Chowhan from Abakkus Asset Manager on earnings risks, crude oil, and sector positioning in the current market environment.

Aman Chowhan said monsoon concerns are not a major risk for earnings at this stage, but crude oil remains the dominant macro variable. He noted that even in a scenario where geopolitical tensions ease, oil prices could remain elevated, keeping pressure on corporate earnings. “Monsoon is not a big worry. A weak monsoon may have some impact. The bigger issue is crude oil. Even if there is a deal with Iran, oil can stay around 80. That is the real risk.” He added that the impact of higher oil prices is likely to show up more clearly in upcoming quarters. “March quarter was fine due to inventory. June will show the impact. We see a 100–200 bps hit from higher oil prices.”

On the earnings outlook for FY27, Chowhan said visibility remains limited and companies themselves are still assessing the impact. “Earnings revision is yet to happen. Companies themselves are unsure of the impact. We will know more in a few weeks.” He added that the key pressure point is likely to be margins rather than demand. “The risk is more on margins than topline. Demand is holding up well.”

On portfolio positioning, he said allocation has shifted toward defensive and structural themes, especially in a high crude oil environment. “We are buying renewables—solar, wind, ethanol. That is a key theme.” He also highlighted increased exposure to pharma and domestic manufacturing as preferred areas for incremental investment.

On the IT sector, Chowhan remained cautious despite recent corrections, citing structural concerns around artificial intelligence and valuations. “We exited IT six months ago. No hurry to re-enter. Upside is limited.” He said AI-led efficiency improvements could challenge India’s traditional low-cost advantage, keeping valuation multiples under pressure. “AI will improve efficiency, but it pressures India’s low-cost model. Valuations may stay under pressure.”

On consumption, he maintained a constructive view on demand but flagged near-term margin pressure due to rising input costs, particularly metals. “Demand is strong. We like discretionary and durables.” However, he added that higher metal prices could weigh on profitability in the short term.
On other sectors, he said capital market-linked businesses such as wealth and broking remain attractive due to strong business models, while infrastructure has turned neutral due to fiscal pressures arising from higher oil prices. “Infra is neutral due to fiscal pressure from higher oil.”In financials, Chowhan said fundamentals remain healthy but foreign institutional investor (FII) selling continues to weigh on sentiment. “Banking is good, but FII selling is a headwind.” Within the space, he continues to prefer NBFCs and private banks over PSU banks.

He also highlighted FCNR inflows as a supportive factor for the currency, noting that attractive yields could draw meaningful foreign inflows. “FCNR inflows are positive for the rupee. Returns can be attractive, even 12–15% with leverage.”

On tactical opportunities, Chowhan pointed to chemicals, defence, and select engineering stocks as areas of interest, supported by currency benefits and relative valuation comfort.

A Virginia mother’s unusual choice of names for her six children has gained attention after her idea of turning state names into a symbol of hope and togetherness was featured as TODAY.com’s Baby Name of the Week. Nevada, Montana, Indiana, Arizona, Missouri and Dakota were not picked because of family trips or geography, but because their mother wanted them to believe their future could go beyond their surroundings.

Also Read: Parenting expert who studied more than 200 children says this is the No. 1 skill parents just forget to teach kids now

A mother’s unusual idea behind six unique names

Xaviera Greene-Davis was raising six children in Newport News, Virginia, while facing challenges that had also shaped her own early life. She wanted her children to grow up believing they were capable of achieving more than what people around them expected.
The names of six US states became her way of creating a shared identity for her children. For Greene-Davis, those places represented opportunities, growth and possibilities beyond the neighbourhood where her family lived.

During difficult phases of her life, including periods when she was in and out of jail, she hoped the names would keep her children connected and remind them that they belonged together.

“It worked,” Montana Jones, 26, tells TODAY.com. “We’ve been close our whole lives. It’s always been the six of us.”

Names that made the siblings stand out

The unique names quickly attracted attention as the children grew up. Montana Jones often heard jokes and comparisons linked to the popular Disney character Hannah Montana.However, the reactions never changed how she felt about her name. Instead, she sees it as a meaningful gift from her mother and is even thinking about continuing the tradition in her own way.

“I plan on doing something similar,” Montana says. “If not states, maybe cities.”

Six children, six different journeys

Greene-Davis later moved away from Virginia, got married and relocated with her family to North Carolina. According to Montana, the move helped her mother transform her life.

“She completely turned her life around.”

Greene-Davis also believes the decision changed the direction of her family.

Also Read: Loneliest people in the world are not the elderly sitting alone at home; according to a survey across 142 countries, they are adults in their 20s

“It was a great decision,” Greene-Davis agrees.

Today, she looks at her children’s achievements as proof of that journey. All six children completed high school, and each has followed a different career or education path.

Montana works as a deputy sheriff, while Nevada, 27, is employed with a restoration company. Indiana, 23, works as a veterinary technician, and Arizona, 21, is a 911 dispatcher. Missouri, 20, works at a daycare centre, while Dakota, 18, plays football at Virginia State University.

A family story built around hope

For Montana, the names are more than just unusual choices. They represent her mother’s belief that her children could create a different future.

“She always felt in her heart that her six states were going to be something,” Montana says. “Everybody is going to remember our names.”

The shares of IFCI jumped another 2% to hit a fresh 52-week high on Tuesday, with the recent bull run pushing the stock nearly 30% higher in just three sessions amid rising expectations that the National Stock Exchange (NSE) will soon file its draft IPO papers with market regulator SEBI.

IFCI shares hit a new record high of Rs 91.49 apiece on the NSE today. The sharp surge over the three sessions has added more than Rs 5,660 crore to the company’s market capitalisation, pulling it up to more than Rs 24,650 crore.

The rally was driven by the fact that IFCI owns a 52.86% stake in Stock Holding Corporation of India (SHCIL), which, in turn, holds 4.4% of NSE as of the December quarter. Through its controlling interest in SHCIL, IFCI enjoys indirect exposure to NSE, making its stock particularly sensitive to developments related to the exchange’s IPO.

Also read: Bonus bonanza! Last date to buy Brigade Enterprises shares for 1:3 bonus issue reward

NSE to file IPO papers tomorrow?

The National Stock Exchange is likely to file its draft red herring prospectus (DRHP) for its maiden public issue by Thursday, CNBC-TV18 reported, citing sources. The report said that the DRHP will be finalised by today, after which NSE’s board will meet and ratify the filing of the DRHP. People familiar with the matter further told the business news channel that the IPO valuation is set to be higher than Rs 5 lakh crore, and the exchange is planning to list by November this year, between Navratri and Diwali.

The Economic Times couldn’t independently verify the report.

NSE, along with Reliance Industries’ Jio Platforms, is likely to file its respective IPO papers with SEBI this week, Business Standard reported earlier, citing people familiar with the matter.
The proposed public issue is expected to rank among the biggest IPOs in India’s capital market history. The listing would provide a liquidity event for several long-term institutional investors while marking a major milestone for the country’s leading stock exchange.

Also read: NSE’s mega IPO! Who can sell shares via OFS? Check eligibility, deadlines and more
Earlier this year, SEBI granted a no-objection certificate (NOC) for NSE’s much-awaited IPO, removing a key regulatory hurdle that had delayed the process for years. The development is particularly significant for IFCI given its indirect ownership in the exchange through SHCIL.

IFCI share price performance

IFCI shares have gained 68% so far in 2026 and have rallied 41% in the past one month alone. Over a longer horizon, the stock has delivered returns of 638% in three years and 577% in five years.

The company currently has a market capitalisation of more than Rs 24,650 crore.

Also read: Will SpaceX’s $75 billion IPO set the ball rolling for Reliance Jio and NSE listings in India?

(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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Q1: 2026-06-09 Earnings Summary

EPS of $0.93 beats by $0.02

 | Revenue of $1.44B (6.70% Y/Y) beats by $1.19M

Academy Sports and Outdoors, Inc. (ASO) Q1 2026 Earnings Call June 9, 2026 10:00 AM EDT

Company Participants

Dan Aldridge – Vice President of Investor Relations
Steven Lawrence – CEO & Director
Earl Ford – Executive VP & CFO

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Conference Call Participants

Jeffrey Lick – Stephens Inc., Research Division
Katharine McShane – Goldman Sachs Group, Inc., Research Division
Christopher Horvers – JPMorgan Chase & Co, Research Division
Jonathan Matuszewski – Jefferies LLC, Research Division
Joseph Civello – Truist Securities, Inc., Research Division
Paul Lejuez – Citigroup Inc., Research Division
Irwin Boruchow – Wells Fargo Securities, LLC, Research Division
Pedro Gil Garcia Alejo – Morgan Stanley, Research Division
John Heinbockel – Guggenheim Securities, LLC, Research Division
Anna Glaessgen – B. Riley Securities, Inc., Research Division
Andrew Chasanoff – Oppenheimer & Co. Inc., Research Division
Michael Lasser – UBS Investment Bank, Research Division

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Presentation

Operator

Good morning, and welcome to the Academy Sports and Outdoors First Quarter 2026 Earnings Conference Call. This call is being recorded. [Operator Instructions]

I will now turn the call over to your host, Dan Aldridge, Vice President, Investor Relations for Academy Sports and Outdoors.

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Dan Aldridge
Vice President of Investor Relations

Good morning, everyone, and thank you for joining the Academy Sports and Outdoors First Quarter Fiscal 2026 Financial Results Call. Participating on today’s call are Steve Lawrence, Chief Executive Officer; and Carl Ford, Chief Financial Officer.

As a reminder, today’s earnings release and the comments made by management during this call include forward-looking statements. These statements are subject to risks and uncertainties that could cause our actual results to differ materially from our expectations and projections. These risks and uncertainties include, but are not limited to, the factors identified in today’s earnings release and in our most recent Form 10-K and Form 10-Q filings. The company undertakes no obligation to revise any forward-looking statements. Today’s remarks also refer to certain non-GAAP financial measures. Reconciliations to

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