Polycab India shares surged 6% to Rs 8,938.70 on BSE on Thursday morning after the wires and cables maker delivered a quarter that beat street estimates on nearly every metric, prompting a flurry of target price upgrades from brokerages, with Citi setting the highest bar at Rs 10,500.

The rally follows Polycab’s Q4 consolidated revenue rising 27% year-on-year (YoY), while EBITDA grew 13% YoY. The numbers impressed analysts as they came despite geopolitical disruptions, a March demand slowdown, and channel destocking amid raw material volatility.

Citi, the most bullish on the Street, raised its target price from Rs 9,500 to Rs 10,500 while maintaining a Buy rating, citing execution quality as the key differentiator. “Market share gains reflect execution and scale advantage,” the brokerage said, adding that Polycab passed on the entire impact of raw material costs by the first fortnight of January, with no inventory gains due to hedging.

Polycab’s share of the organised cables and wires market has risen to 30–31%, marking a gain of 300–400 basis points year-on-year, a trend Jefferies highlighted while naming the company its top pick. “Organised market share rose to 30–31%, up 400 bps YoY, as C&W volume grew 18% in FY26,” Jefferies said, raising its target price to Rs 9,770 from Rs 8,950 and projecting a FY26–29 EPS CAGR of 21%. The brokerage described the stock as “a play on power and housing.”

Motilal Oswal raised its target price to Rs 9,800 from Rs 9,350, estimating revenue and EBITDA CAGRs of 19% and PAT growth of around 18% over FY26-28. The brokerage expects operating margins to remain in the 13.5-14% range. It also estimates the company’s net cash balance will rise to Rs 47.8 billion by FY28 from Rs 41.5 billion in FY26, underscoring the financial strength supporting the growth story.

Nuvama raised FY27/28 EPS estimates by 3-5% to reflect the beat, projecting revenue, EBITDA, and PAT CAGRs of 18%, 17%, and 17%, respectively, over FY26-29. The brokerage lifted its target to Rs 9,740 from Rs 9,420, valuing the stock at 40x March 2028 estimated EPS. At the current market price, Polycab trades at 34.5x FY28 estimated EPS.
JM Financial, raising its target to Rs 9,700 from Rs 9,200 at 42x March 2028 EPS, flagged cables and wires capacity utilisation at mid-70s as providing reasonable certainty of meeting any unanticipated demand pickup, effectively a buffer the market is not fully pricing in.Beyond cables and wires, the FMEG segment is emerging as a meaningful second engine. Elara Capital, which maintained Accumulate with a target of Rs 8,920, noted that FMEG surged 39% YoY, driven by solar products, and turned EBIT positive in FY26 for the first time. The segment’s turnaround removes a long-standing drag on overall profitability.

Looking further out, Citi flagged that Polycab’s extra-high voltage capacity is set to be commissioned by year-end, with revenue expected to start flowing in FY28, a potential re-rating catalyst that the current target prices may not fully capture.

The one note of caution across brokerages is margin pressure from a shift in sales mix toward lower-margin exports and higher institutional sales, which clipped EBITDA growth relative to revenue.

Elara specifically highlighted this, even as it maintained a positive view on the stock’s longer-term prospects.

With an aggressive Rs 60-80 billion capex pipeline over five years, a dominant and still-growing market share position, and the FMEG business finally in the black, Polycab is making a case that Thursday’s 6% move may be the beginning of a longer re-rating and not the end of it.

Shares of Godrej Consumer Products slipped 5.5% to an intraday low of Rs 1,035 on the BSE on Thursday, despite the company reporting a 9.7% year-on-year rise in Q4 net profit to Rs 452 crore, driven by steady volume growth and strong performance across key categories.

Revenue for the quarter rose 11% to Rs 3,900 crore from Rs 3,514 crore a year earlier. EBITDA also increased 11% to Rs 841.4 crore from Rs 759.2 crore, while EBITDA margin remained unchanged at 21.6%. Consolidated sales in Q4 FY26 grew 11% year-on-year, supported by underlying volume growth of 6%. The standalone business posted volume growth of 8%, with sales rising 10%.

Among international markets, Indonesia sales increased 3%, while Africa, the US and West Asia delivered 20% growth. For the full FY26, consolidated sales rose 9% year-on-year, driven by 6% volume growth. Standalone sales grew 8% with volume growth of 6%.

What are experts saying?

Morgan Stanley has maintained its Equal-weight rating on Godrej Consumer Products with a target price of Rs 1,159, an upside of 6% from current levels. The brokerage expects stronger pricing-led topline growth in Q1 and Q2FY27, although margins could remain under pressure. It noted that the company implemented price hikes across soaps, detergents and home insecticides in April.

Morgan Stanley highlighted that the India business reported 8% volume growth, while EBITDA margin remained within the guided range. Management has guided for FY27 EBITDA margins in the 24-26% band. The brokerage also pointed to signs of stabilisation in the Indonesia business following weak performance in earlier quarters. However, it flagged crude oil and palm oil inflation as near-term risks. It added that a warmer summer could support demand for soaps but may negatively impact the home insecticides segment.
Motilal Oswal has maintained its “Buy” rating on Godrej Consumer Products with a target price of Rs 1,300, implying a potential upside of 19%.
The brokerage said management remains focused on improving domestic business volumes and driving efficiencies across the value chain. It expects the GAUM business to deliver better profitability growth going ahead, while recovery in the Indonesia business is likely to become more meaningful from FY27 as market conditions stabilise.
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Management also expressed confidence in sustaining profitability momentum in FY27 despite macroeconomic challenges. Motilal Oswal noted that the company is expanding its total addressable market by entering faster-growing categories such as men’s face wash and toilet cleaners, while continuing to strengthen its core portfolio. It added that consistent efforts have also been made to address profitability and growth gaps in the international business. Given the company’s growth-focused strategy, the brokerage said it remains constructive on GCPL.

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

NEW YORK — DaVita Inc. shares exploded higher by nearly 19% in morning trading Wednesday, May 6, 2026, after the leading kidney care provider delivered a blockbuster first-quarter earnings beat and raised its full-year guidance, signaling robust demand for dialysis services and continued operational efficiency gains.

DaVita stock climbed as high as 186.40, up more than 29 points or 18.70% shortly after the market open. The surge pushed the company’s market capitalization above $12 billion and marked one of the strongest single-day performances for the healthcare stock in recent years.

The rally followed DaVita’s May 5 after-hours report showing revenue of $3.42 billion for the quarter ended March 31, up 6% from a year earlier and topping Wall Street expectations of about $3.35 billion. Adjusted earnings per share hit $2.87, smashing consensus estimates of $2.33 by more than 23%.

Strong Volume, Cost Control Drive Outperformance

CEO Javier Rodriguez highlighted broad-based strength across key metrics. Treatment volume grew modestly, revenue per treatment rose, and patient care costs came in lower than anticipated thanks to improved labor productivity and technology initiatives.

“We delivered strong financial results ahead of our expectations with outperformance from each element of our U.S. dialysis trilogy: treatment volume, revenue per treatment and cost per treatment,” Rodriguez said. Management pointed to favorable patient transfers linked to competitor clinic adjustments and better-than-expected mortality trends as supporting factors.

Adjusted operating income reached $482 million, while operating cash flow totaled $321 million and free cash flow turned positive at $140 million. DaVita also continued its aggressive share repurchase program, buying back 3 million shares in the quarter for $403 million and an additional 2 million shares post-quarter for $302 million.

Upward Revision to Full-Year Outlook

Investors reacted enthusiastically to the raised 2026 guidance. DaVita now expects adjusted operating income between $2.15 billion and $2.25 billion, up from the prior range, and adjusted EPS of $14.10 to $15.20. Free cash flow guidance remained steady at $1.0 billion to $1.25 billion.

The update reflects higher expected treatment volume growth of 25 to 50 basis points for the year and sustained cost discipline. Analysts noted the midpoint of the new EPS range sits comfortably above prior consensus.

Deutsche Bank upgraded the stock to Buy and significantly raised its price target following the results, contributing to the bullish sentiment.

Industry Tailwinds and Strategic Focus

DaVita operates one of the largest networks of outpatient dialysis centers in the United States, serving patients with end-stage kidney disease. The company benefits from an aging population and stable Medicare reimbursement rates, even as it navigates labor costs and regulatory changes.

Progress in integrated kidney care, including value-based arrangements covering billions in annualized medical spend, provides additional growth levers. Management expressed confidence in its ability to deliver high-quality care while improving margins through AI-driven scheduling tools and other efficiencies.

The Q1 results come amid a broader recovery in healthcare stocks, though DaVita’s move stands out for its magnitude. The stock had already posted strong year-to-date gains entering the report but pulled back modestly in after-hours trading on May 5 before exploding higher on Wednesday as the full implications of the beat and raise sank in.

Analyst Views and Valuation

Wall Street has grown more optimistic. With shares now trading around 15-16 times forward earnings, many view DaVita as attractively valued relative to its earnings power and cash generation. Share repurchases have meaningfully reduced the outstanding float, boosting per-share metrics.

Risks remain, including potential changes in government reimbursement policy, labor inflation and competition. However, management’s track record of execution and the defensive nature of dialysis services provide a buffer.

Looking Ahead

Attention now turns to sustained volume trends through the remainder of 2026 and further progress on integrated care initiatives. DaVita’s ability to maintain or expand margins while returning capital to shareholders will be key watchpoints.

For investors, the Wednesday surge underscores how positive surprises in a stable, essential healthcare business can drive outsized moves. DaVita has transformed operational challenges into opportunities, positioning itself for what management believes will be another strong year.

As trading continues, the market appears to be rewarding DaVita’s consistent delivery and forward-looking confidence. Whether the momentum sustains will depend on broader market sentiment and the company’s execution in the quarters ahead, but today’s reaction signals strong belief in its trajectory.

Operator

Good day, ladies and gentlemen, and welcome to the Perma-Fix Fiscal First Quarter 2026 Earnings Conference Call. [Operator Instructions] And please note, this conference is being recorded. I will now turn the conference over to your host, Mr. David Waldman, Investor Relations. Sir, the floor is yours.

David Waldman
Crescendo Communications, LLC

Thank you, and good morning, everyone. Welcome to Perma-Fix Environmental Services First Quarter 2026 Conference Call. On the call with us this morning are Mark Duff, President and CEO; Dr. Louis Centofanti, Executive Vice President of Strategic Initiatives; and Ben Naccarato, Chief Financial Officer. The company issued a press release this morning containing first quarter financial results, which is also posted on the company’s website. If you have any questions after the call or would like any additional information about the company, please contact Crescendo Communications at (212) 671-1020.

I’d also like to remind everyone that certain statements contained within this conference call may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and include certain non-GAAP financial measures. All statements on this conference call other than statements of historical fact are forward-looking statements that are subject to known and unknown risks, uncertainties, and other factors, which could cause actual results and performance of the company to differ materially from such statements. These risks and uncertainties are detailed in the company’s filings with the U.S. Securities and Exchange Commission as well as this morning’s press release. The company makes no commitment to disclose any

The Somerset-based business was founded in 1970 but ran into financial difficulties during the pandemic

A power tools business in Somerset that collapsed into administration earlier this year is selling off its remaining stock at auction. Yeovil-based Miles Tool & Machinery Centre was established in 1970 by Philip and Margaret Miles, and sold a range of specialist hardware, paints, parts and accessories.

The third-generation family business, which was based at Pen Mill Trading Estate, also offered a power tools repair service.

But financial problems arose during the pandemic after delays installing a new management system to track stock negatively impacted online sales. The difficulties were compounded when the company’s buying group, Troy, went into administration early last year, cutting off access to several key suppliers.

It is understood that Miles was also hit by rising costs, such as business rates and employers’ national insurance contributions, while struggling to repay loans it had taken out.

In February, the company was forced to appoint joint administrators from Milstead Langdon and made all staff within the business redundant. The administrators are now selling off the company’s assets in a bid to recoup money for existing creditors.

According to an advert on property website Lambert Smith Hampton, an assortment of power tools worth £500,000 is going on sale by online auction this month.

Among the tools included in the listing are Black and Decker lawn mowers, hedge trimmers and chainsaws; Bosch hammer drills and angle grinders; Dewalt drills and cutting benches; and Metabo circular saws, strimmers and compressors.

Viewing of the tools will be available between 10am and 4pm on Wednesday, May 13, with the bidding closing from 1pm on May 14. Collection of the tools will need to be between Monday, May 18, and Wednesday, May 20, between 9am and 4pm.

“A rescue of the company cannot be achieved due to the cessation of its trade and as a result of the significant debts that are owed by the company,” a document issued by the administrators on the Companies House website states.

According to Companies House, there are ordinary preferential creditors of £12,863 and secondary preferential creditors of £336,999. The unsecured creditors liability is expected to be nearly £1.5m, including shortfalls to the second and third charge holders.

A former Santander Bank employee in Rhode Island has pleaded guilty in federal court to charges related to stealing more than $125,000 from the bank account of a 78-year-old customer with dementia.

Carlos Bras, 41, of East Providence, appeared in federal court where he admitted to mail fraud and aggravated identity theft, the Justice Department said Wednesday. At the time of the theft, Bras was working for the Spain-based global financial institution as a “relationship manager” just over the state line at a Seekonk, Massachusetts, branch.

In his role, Bras assisted patrons with their accounts and had access to sensitive customer data, including the account of a 78-year-old man identified only as “MDR,” who was residing in an assisted living facility in Milton, Massachusetts. 

Federal prosecutors said Bras impersonated the man over the phone and online to obtain checks and a debit card for the account. 

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“The object of the scheme to defraud was for Bras to unlawfully enrich himself by using his access to Victim #1’s account to issue checks, conduct bank transfers, send wires, and make debit card purchases for himself,” court documents state.

Bras’ activity was flagged by Santander’s internal fraud detection unit, which contacted the Seekonk Police Department, sparking an investigation that also involved the U.S. Secret Service.

Bras allegedly accessed the victim’s account approximately 88 times between April and July 2023. To conceal his activity, authorities said he used a TracFone — a prepaid wireless service often used to obscure identity — to check the status of illegal money transfers.

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Prosecutors allege Bras purchased a 2023 KIA Sportage with the stolen money and fabricated a contract to make it appear that MDR was buying land from Bras’ wife. 

When questioned by an internal bank investigator, Bras claimed his wife was a real estate agent in Portugal, and that the wires were part of a property transaction. Authorities say he sent at least 10 wire transfers totaling $9,690 via Western Union to accounts in Portugal; Bras personally received nine of those transfers.

When confronted, Bras repeatedly changed his story, initially claiming he did not know MDR, and then later claiming MDR was “upset” and had asked Bras to receive checks at his personal residence.

Ticker	Security	Last	Change	Change %
SAN	BANCO SANTANDER SA	12.40	+0.52	+4.38%

The bank eventually terminated Bras in July 2023. 

A Santander spokesperson told FOX Business that Santander Bank had proactively brought the matter to law enforcement’s attention and worked with the customer to resolve the issue.

“Santander Bank’s highest priority is protecting our customers and their accounts,” the bank said. 

Bras’ attorney, Kensley Barrett, told FOX Business that Bras has “accepted responsibility for his actions and is remorseful for what led to this regrettable situation, including the impact on those negatively affected.”

“He is committed to atoning for his actions and ensuring this mistake doesn’t define him,” Barrett said. 

Under the terms of his plea deal, Bras must forfeit $126,000 to the federal government. He faces up to 32 years in prison when he is sentenced Sept. 15. 

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Bras was released from federal custody in October on a $10,000 bond. 

His attorney has asked a judge to allow him to travel to Massachusetts, citing his role as a youth soccer coach and arguing that the ability to travel would increase his job prospects, WPRI-TV reported.

FOX Business has reached out to Santander.