The group has called France a key European market

Blackburn millionaire Zuber Issa’s petrol forecourt and convenience retail group has completed the acquisition of 260 sites in France.

EG On The Move has says all legal, works council and regulatory market requirements have been met in the deal with EG Group, which plans to exit the French market. EG On The Move said the acquisition is an important part of strategic growth plans – and referred to France as a key European market.

The network of sites is said to be a strong platform for investment, including growth of the retail offer. EG On The Move has previously talked of its ambition to expand electric vehicle charging provision through its EV On The Move brand.

Zuber Issa, chief executive officer of EG On The Move, said: “We are delighted to complete the acquisition of these 260 sites. This is an important step in the continued growth of EG On The Move and reflects our confidence in the strength and long-term potential of the French market.

“France represents a significant opportunity for EG On The Move, and we are committed to investing in the acquired network to enhance the customer offer and experience, support our colleagues and drive long-term sustainable growth. We look forward to working closely with our French team, whose expertise and dedication will be central to our success, and to supporting them in delivering positive outcomes for our customers, employees, partners and local communities.

“I would like to warmly welcome our new colleagues to EG On The Move, and I am excited about the opportunities we will create together as we build on the strong foundations already established across the network.”

The deal with EG Group follows EG On The Move’s acquisition of independent petrol forecourt operator MPK Garages Ltd in May. That move expanded EG On The Move’s footprint, particularly across the Midlands, bringing 27 petrol forecourt sites to the group.

EG On The Move now owns and operates more than 550 trading units across the UK, including 270 petrol forecourts and convenience stores, along with 220 branded foodservice concessions. More than 60 of its sites offer fast EV charging.

HFCL shares climbed 5% to Rs 203 on the BSE on Monday after the company won an international order worth around Rs 522.73 crore. The development further strengthened investor sentiment around the telecom equipment maker, which has emerged as one of 2026’s multibaggers. HFCL, in a filing to the bourses, said the contract will be executed by January 2027 under general contract conditions. The company did not disclose the identity of the international customers.

HFCL stock has rallied a staggering 195% in the last six months. As a result, FIIs more than doubled their stake in the company from 7.1% in the March quarter to 15.7% in June.

HFCL Q1 results

HFCL reported a net profit of Rs 246 crore in the first quarter of financial year 2027, compared with a net loss of Rs 29.30 crore in the same quarter last year. Revenue from operations came in at Rs 1,915 crore, up 120% from Rs 871 crore in the corresponding quarter of the previous financial year.

Also read: Forget selling! FIIs doubled down on this AI multibagger stock that’s up 200% YTD

The company reported its highest-ever order book of around Rs 26,665 crore in Q1FY27, nearly five times its FY26 revenue, strengthening its long-term revenue visibility. The export story has also gathered pace. Export revenue rose to Rs 1,063.30 crore, accounting for 55.53% of total revenue in Q1FY27, compared with Rs 209.70 crore, or 24.08% of revenue, in Q1FY26.

HFCL has revised its FY27 revenue growth estimate to 40%. Its board has also approved an investment of Rs 215 crore to build a manufacturing facility for advanced AI data centre connectivity solutions.

Still time to buy HFCL shares?

Deven Choksey Research sees another 86.50% upside potential, calling defence and aerospace the “X-factor” that changes the entire investment thesis for the stock. The brokerage initiated coverage on HFCL with a ‘Buy’ rating and a target price of Rs 362 apiece earlier this week.
HFCL has consolidated its defence assets under HFCL Advance Systems (HASPL), integrating aerostructure manufacturing, including the acquired business with more than Rs 2,000 crore in export orders, radar or surveillance systems through Raddef, and thermal weapon sights into a single scalable entity.

Read more: HFCL bags Rs 442 crore optical fibre cable export orderAn ammunition manufacturing facility is being established in Andhra Pradesh for electronic fuzes, multi-mode hand grenades (for which there are only 3 licensees in India), and 155 mm artillery shells.

“We believe defence revenue trajectory to be Rs 77 crore (FY26) to Rs 400 crore (FY27) to Rs 1,200 crore (FY28) to Rs 5,000 crore (FY29), at 25%+ EBITDA margins. Critically, defence customers provide advance payments, dramatically improving working capital dynamics compared to the legacy EPC business,” Deven Choksey said.

HFCL is also gradually transitioning from a commodity OFC supplier to a high-value AI optical connectivity platform through its OptiQ AI brand, which was launched earlier this month, Deven Choksey noted. “Through subsidiary HTL Limited, data centre interconnect (DCI) solutions are expected to contribute Rs 400 crore in FY27 and Rs 800 crore in FY28, at margins above the blended corporate average. The global AI optical interconnect TAM is projected at $73 billion by CY30,” the brokerage further said in its report.

According to the brokerage, HFCL is at an inflection point where three structural shifts are converging simultaneously. The company is transitioning from a domestic EPC-dependent telecom contractor into an export-led, product-driven technology platform spanning AI optical connectivity, defence electronics and aerospace manufacturing.

Monarch Networth echoes the view. According to analysts, HFCL has evolved rapidly from being a largely domestic optical fibre cable manufacturer into a globally diversified technology company.

Also read: Urban Company shares zoom 15% after Q1 results. Why Motilal Oswal raised target price

HFCL is India’s largest optical fibre cable manufacturer, with manufacturing facilities across the country. Analysts added that the company was the first Indian player to develop and commercialise 5G Fixed Wireless Access customer-premises equipment.

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

Lawrence Farm is located on Moor Lane south of the dual carriageway on the edge of Wincanton

A large Somerset farm near the A303 is to be sold by the council to help finance front-line services throughout the county. Lawrence Farm is located on Moor Lane south of the dual carriageway on the edge of Wincanton, consisting of a farmhouse, associated outbuildings and 75 acres (just over 30 hectares) of land.

Somerset Council agreed in November 2023 to review its existing county farms as part of a broader assessment of its assets, land and property, with a view to disposing of those deemed surplus to requirements and channelling the proceeds into essential services.

The farm will now be marketed in four separate lots – though the council has not disclosed any public estimate of the anticipated sale value.

The farmhouse at Lawrence Farm has stood empty since March, following the council’s negotiations with the former tenant to relinquish their tenancy.

The farm buildings and surrounding land are presently managed under a separate six-month tenancy arrangement, which is due to expire at the end of September.

The farm is flanked by Brains Farm to the east, a solar farm to the south and Wessex Water’s waste water treatment plant to the west, with the River Cale running through a considerable portion of the land.

The farm will be marketed in four distinct lots, with an uplift clause in place to ensure the council benefits from any increase in value should the land subsequently be developed.

David Ashton, one of the council’s property officers, said in his written report: “Our estates team has halted submitting a planning application to convert the farm buildings for residential use, due to flood risk issues that have arisen and the associated lengthy delay and risk of refusal.

“The asset will be disposed of via the open market, in various lots, with the appropriate covenants and/or uplift in place.”

Under ordinary circumstances, revenue generated from the sale of land, property or other assets – known as capital receipts – cannot be directed towards day-to-day expenditure on front-line services.

However, the council was granted approval in February by central government – for the third consecutive year – to use proceeds from asset sales for this purpose, as well as to finance its ongoing transformation programme.

The council has declined to disclose the anticipated proceeds from the farm sale, citing commercial sensitivity.

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Shares of Blue Dart Express surged 6.77% to Rs 5,509.50 in Monday’s trading session after the logistics major reported a strong Q1FY27 performance. Brokerage firm Nuvama retained its ‘Buy’ rating on the stock, citing strong execution and growth prospects.

The company’s consolidated net profit jumped 79.6% year-on-year (YoY) to Rs 88 crore in Q1FY27, compared with Rs 49 crore in the corresponding quarter last year. Revenue from operations increased 15.1% YoY to Rs 1,658 crore, from Rs 1,441 crore in Q1FY26.

The strong quarterly performance was supported by higher revenue traction, improved operational efficiency, and expansion in operating margins. Blue Dart’s EBITDA margin improved significantly, reflecting better cost management and disciplined execution despite a challenging business environment.

Commenting on the results, Balfour Manuel, Managing Director, Blue Dart, said, “Our Q1FY27 performance reflects focused execution, disciplined network management and continued customer confidence in the Blue Dart brand. Despite a challenging operating environment and higher operating costs, we delivered strong profit growth while maintaining our commitment to reliability, speed and service excellence.”

He added that the company remains focused on enhancing productivity, strengthening its integrated air and ground network, accelerating digital adoption, and investing in sustainable capabilities to create long-term value for stakeholders.

Nuvama remains bullish, raises valuation outlook

Brokerage firm Nuvama maintained its ‘Buy’ rating on Blue Dart Express, citing strong quarterly execution and the company’s positioning in the growing e-commerce logistics segment.
According to Nuvama Research, Blue Dart delivered a robust Q1FY27 performance, with revenue growth of 15% YoY, ahead of estimates. The brokerage highlighted that EBITDA margin expanded by 220 basis points YoY to 15.8%, while profit before tax (PBT) margin improved to 7.2% from 4.6% a year ago, reaching the company’s guided medium-term range of 7–8%.
The brokerage noted that profit after tax (PAT) surged 81% YoY to Rs 88.5 crore, significantly exceeding its estimates and consensus expectations. Following the strong quarter, Nuvama raised its FY27E and FY28E earnings per share (EPS) estimates by 4% and 2%, respectively.
Nuvama has retained its ‘Buy’ recommendation, valuing Blue Dart at 38x June 2028 earnings, and revised its June 2027 target price to Rs 7,350 from the earlier Rs 6,900.

The brokerage believes Blue Dart is well positioned to benefit from the ongoing consolidation in the e-commerce parcel market, which contributed around 30–31% of revenue in FY26. At the current market price, the stock trades at approximately 28x FY28E earnings.

With improving margins, sustained revenue growth, and a strong logistics network, Blue Dart remains a key beneficiary of India’s expanding express delivery and e-commerce ecosystem.

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