Shares of HDB Financial Services jumped 4.5% to Rs 786 on the BSE on Thursday after the non-banking financial company reported a strong set of June quarter earnings, with profit rising 38% year-on-year, driven by higher net interest income and improved asset quality.

The company reported a profit after tax of Rs 785 crore for Q1FY27, compared with Rs 568 crore in the corresponding quarter last year. Net interest income (NII) increased 20% year-on-year to Rs 2,509 crore from Rs 2,092 crore, while net total income rose 17% to Rs 3,185 crore from Rs 2,726 crore.

Pre-provisioning operating profit grew 25% year-on-year to Rs 1,752 crore from Rs 1,402 crore a year ago. Profit before tax climbed 44% to Rs 1,055 crore, compared with Rs 733 crore in the year-ago quarter.

The company’s assets under management (AUM) stood at Rs 1.22 lakh crore as of June 2026, up 11% from Rs 1.09 lakh crore a year earlier. Its gross loan book also expanded 11% year-on-year to Rs 1.21 lakh crore from Rs 1.09 lakh crore as of June 2025, reflecting steady growth in its lending business.

Also Read | Protection business boosts HDFC Life, ICICI Pru Life Q1 earnings

What are experts saying after HDB Financial Q1

Motilal Oswal has maintained a Neutral rating on HDB Financial Services with a target price of Rs 810, implying an upside potential of 8%. The brokerage said the company delivered a steady June quarter, with earnings coming in slightly ahead of its estimates.

Asset quality continued to improve despite the seasonally weaker first quarter, keeping credit costs broadly stable. It also highlighted an expansion in net interest margins (NIM), supported by better portfolio yields. While loan growth was marginally below expectations, the brokerage noted that the management remains confident of a meaningful acceleration in the coming quarters, aided by strategic initiatives undertaken over the past few quarters and continued improvement in asset quality.
Nomura has reiterated its Neutral rating on HDB Financial Services with a target price of Rs 790, indicating an upside potential of 5.1%. The brokerage noted that the management expects the cost of funds to remain rangebound through the second quarter of FY27, similar to its guidance in the previous quarter, although it remains cautious about the second half of the fiscal given the uncertain global environment. Nomura also said the healthy growth in the consumer finance portfolio has supported an expansion in yields, a trend it expects to continue through FY27.

Also Read | HDFC AMC Q1 Results: Net profit rises 12% to Rs 837 crore, revenue up 14%

The company delivered healthy growth across its key operating metrics during the quarter. Net interest income grew at a faster pace than the loan book, while pre-provisioning operating profit outpaced overall income growth. This helped profit before tax register a 44% year-on-year increase despite a slight rise in provisioning.

Investors are also likely to track the company’s asset quality trajectory following its market debut, as loan growth, margins, credit costs and the performance of stressed assets remain key factors in the valuation of lending businesses.

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

The fashion group, which owns Sports Direct and Flannels, said its recent takeover bids and moves to build stakes in rivals are bolstering its balance sheet amid a ‘challenging environment’

Mike Ashley’s Frasers Group has reported a surge in profits as it accelerates its transformation strategy and embarks on a string of takeover approaches for international retailers.

The fashion conglomerate, whose portfolio includes Sports Direct and Flannels, stated that its recent acquisition bids and strategic shareholding activity are strengthening its financial position despite a “challenging environment”.

The FTSE 250 business recorded revenue growth of eight per cent to £3.3bn in the year ending April, while pre-tax profit climbed by 39 per cent to £528m.

The Derbyshire-based group has recently acquired South African sporting goods retailer Holdsport and Norwegian sports chain XXL, as reported by City AM.

“Leveraging the strength of our UK Sport business and brand relationships, international expansion has become a powerful growth engine for the Group and a key pillar of our long-term strategy,” the firm said.

Frasers has intensified its acquisition activity in recent weeks with a £1.7bn offer for German fashion house Hugo Boss and a £166m approach for Australian footwear retailer Accent.

The group had been accumulating shareholdings in these businesses prior to launching its bids. These investments contributed £50m to adjusted profit over the past year, Frasers disclosed.

The relatively modest four per cent premium attached to the group’s Hugo Boss bid had prompted speculation amongst analysts that the company was not pursuing outright ownership of the luxury label. Frasers appeared to reinforce this stance on Thursday, stating that “increasing its investment in Hugo Boss will create value” for its shareholders.

The group further declared that it “remains supportive” of Hugo Boss’ existing leadership in its “pursuit of their sustainable growth strategy whilst continuing to build brand equity”.

The retailer opted against offering investors any forward-looking financial guidance, citing uncertainty surrounding these ongoing takeover bids.

Alongside its pursuit of rival brands, the company said it is working to “elevate” its existing portfolio of fashion labels, which includes Everlast, Slazenger, Karrimor and Jack Wills.

The fashion giant described its turnaround strategy as “going from strength to strength”, ploughing investment into its high street outlets, including a new flagship Sports Direct store in Liverpool.

However, the company acknowledged it “continued to feel the impact of tough trading conditions, subdued consumer confidence and industry-wide excess inventory levels” at the outset of this financial year.

Frasers’ shares dipped three per cent to 737p when markets opened on Thursday, although the stock remained 10 per cent higher for the year to date.

Tom Foss-Jacobsen
Chief Executive Officer

Good morning, everyone, and welcome to Borregaard’s Second Quarter 2026 Presentation. My name is Tom Erik Foss-Jacobsen. I’m the CEO of Borregaard, and I’ll be joined today by our CFO, Per Bjarne Lyngstad. Together, we will take you through this agenda.

I will start with the key highlights for the quarter and then give an update on the market situation across our business segments. I will then summarize the outlook before handing over to Per Bjarne. He will walk you through the financial performance then in more detail.

Before we begin, just a quick reminder to those of you watching the webcast that you are welcome to submit questions at any time during the presentation, and we’ll address them at the end.

Let’s begin with the highlights for the second quarter. EBITDA came in at NOK 515 million compared with NOK 522 million in the same quarter last year. This is a solid result broadly in line with a strong second quarter last year and also supported by good operational performance in the quarter.

Looking at the business areas, BioSolutions delivered higher sales volume, but with a less favorable product mix. BioMaterials had high deliveries and record production, while Fine Chemicals delivered another quarter with solid results.

On the cost side, we continue to see pressure from higher energy, logistics and chemical costs, partly offset by lower wood costs. The net currency effects were slightly positive in the quarter. We have also recognized an impairment of NOK 337 million on our investment in Alginor. The 3 main shareholders in Alginor, Borregaard, Must Invest and Hatteland with Hatteland acting as

Shares of Billionbrains Garage Ventures, the parent company of Groww, gained 2.3% to Rs 221 on the BSE on Thursday after its consolidated net profit of Rs 735 crore in the first quarter of FY27, marking a 94.44% year-on-year (YoY) surge from Rs 378 crore in the same period last year. The net profit is attributable to the shareholders of the company. With today’s gain, the stock is up 9% in two sessions.

Groww’s revenue from operations also witnessed a sharp uptick, rising 66% to Rs 1,504 crore from Rs 904 crore in the corresponding quarter of the previous financial year. On a sequential basis, Groww’s revenue remained. Net profit for the quarter grew by 7% to Rs 735 crore from Rs 686 crore last year.

EBITDA for the quarter under review came in at Rs 971 crore, up 101% from Rs 483 crore in the year ago period. Sequentially, the increase was relatively modest, up 3% from Rs 939 crore, Groww’s investor presentation showed.

Groww shares: Buy, sell or hold after Q1 results

JM Financial has upgraded Groww to ‘Buy’ from ‘Sell’ and raised its target price to Rs 250 (15.5% upside) from Rs 170, citing stronger growth visibility and improving operating leverage. The brokerage said its confidence in the company’s growth outlook has strengthened after Groww delivered a resilient performance despite a moderation in retail trading activity from the Q4FY26 peak.Also read: Groww responds to Nithin Kamath tweet: Direct mutual funds remain free for DIY investors

It also highlighted expanding yields and better operating efficiency, with the cost-to-income ratio declining 3 percentage points quarter-on-quarter to 36%. Reflecting sustained market share gains and disciplined cost control, JM Financial has raised its FY27, FY28 and FY29 EPS estimates by 4%, 6% and 11%, respectively. It now values Groww at a 50% premium to Angel One, up from 20% earlier, supported by stronger earnings growth, higher margins and significantly larger client assets that improve customer stickiness.
Motilal Oswal reiterated its Buy rating on Groww with a revised target price of Rs 250, implying an upside potential of 16% from the current market price.
Motilal Oswal expects the overall number of orders in the broking business to grow by more than 20% over FY27 and FY28, led by continued market share gains and improving revenue per order. It also believes that the MTF business, Loan Against Securities (LAS) and wealth management will provide an additional boost to the company’s revenue growth.
Motilal raised its earnings estimates by 1% for FY27 and 3% for FY28, factoring in improved operating efficiency. The revised target price of Rs 250 is based on 38x FY28 estimated earnings per share (EPS).

Groww Q1 highlights

The company said it strengthened its market leadership across key segments during the June quarter by adding 115,000 net clients, supported by higher customer retention and improved product quality despite an industry-wide slowdown.

In mutual funds, it retained its position as India’s largest distribution platform for direct mutual funds, with Rs. 1.9 lakh crore in direct mutual fund assets under management (AUM). SIP inflows grew 32% year-on-year, outpacing the industry’s 16% growth.

Read more: Groww says it overtook Angel One in commodities trading within a year of launch

In the stock broking business, the company said risk control measures led to its retail ADTO market share easing sequentially to 15.1%, although it remained 3.3 percentage points higher year-on-year. In commodity derivatives, it expanded its retail market share to 28.6% in notional ADTO across MCX and NSE.

On AI, the company said it believes artificial intelligence will fundamentally transform the way it serves customers and sees itself as best-positioned to lead the adoption of AI in investing.

It is currently using AI to resolve customer queries with zero wait time, address personalised research requests and accelerate product development. The company added that while it plans to make significant investments in AI, it does not expect these investments to have a material impact on its margins given its scale.

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

SYDNEY — The S&P/ASX 200 edged lower Thursday afternoon, giving back early gains as a slide in mining stocks offset strength in banking and communication services shares, even as Wall Street’s overnight rally lifted sentiment across the region.

The benchmark index was down 13.0 points, or 0.15%, to 8,828.1 as of 3:02 p.m. AEST, pulling back from a positive open earlier in the session.

The pullback came despite a firmer start to the trading day. Australian shares had opened higher, tracking a solid overnight session on Wall Street, where the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all advanced on easing inflation signals and a strong start to the U.S. second-quarter earnings season.

By late morning, the ASX 200 had climbed as much as 7.6 points, or 0.09%, to 8,848, with eight of the index’s 11 sectors trading in positive territory. Communication services led the advance, rising roughly 1.3% on gains in REA Group, CAR Group, Seek and News Corp. Financial stocks also contributed to the early strength.

The gains proved short-lived. Mining stocks weighed heavily on the broader market through the session, dragging the materials sector into negative territory even after BHP Group reported record iron ore production for the 2026 financial year. BHP shares fell despite the milestone, part of a broader retreat among miners that accounted for the bulk of the index’s worst-performing stocks. Mining names were the primary drag on the benchmark, offsetting gains elsewhere on the board.

Elsewhere on the local corporate front, AMP shares advanced after the wealth manager lifted its first-half profit guidance, citing favorable investment returns and its partnerships in China. Other notable movers in early trade included Mesoblast, Life360, Tabcorp and Flight Centre.

Investors were also digesting fresh economic data. The Melbourne Institute released its monthly reading on consumer inflation expectations for July, one of several data points traders are using to gauge the outlook for Reserve Bank of Australia policy in the second half of the year. Domestically, Treasurer Jim Chalmers has been pressing regulators to adopt a more pro-growth stance in a bid to lift the country’s lagging productivity.

Offshore, the session unfolded against a backdrop of mixed signals from Australia’s largest trading partner. China reported its weakest annual GDP growth since 2022 for the second quarter, a result that has stoked expectations Beijing could roll out fresh stimulus measures. Chinese officials have acknowledged that external risks remain elevated and that demand continues to trail supply in the world’s second-largest economy. The soft growth figure has added a layer of caution to sentiment in Asia-Pacific markets, even as local shares initially shrugged it off.

Geopolitical tensions in the Middle East continued to cast a shadow over global markets more broadly. Renewed strikes and a reinstated U.S. naval blockade have disrupted shipping through the Strait of Hormuz, a critical corridor for global oil flows, rattling economies across the Gulf region and keeping crude prices elevated. Traffic through the strait has remained sharply depressed compared with pre-conflict levels, with some vessels reportedly switching off transponders to avoid attack. The disruption has also weighed on Chinese refinery activity, with throughput at multiyear lows.

Energy markets have been volatile as a result, and the swings in crude prices have rippled through to mining and resources stocks on the ASX, adding to the sector’s choppy performance this week.

Thursday’s session capped a mixed run for the Australian benchmark. The index closed Wednesday up 0.35% to 0.4% at roughly 8,841 points, its strongest finish in about a week, as banks and miners both contributed to gains following a rally in Rio Tinto after the miner topped its quarterly iron ore sales forecasts. That followed a choppier start to the week, with the index closing essentially flat on both Monday and Tuesday amid escalating Middle East tensions and cautious trading ahead of the Chinese GDP release.

Over the past month, the ASX 200 has been trading in a relatively narrow band, moving between roughly 8,656 and 8,984 points. The index remains a few percentage points below its 52-week high, reflecting a market that has been buffeted by a mix of geopolitical risk, shifting global rate expectations, and a domestic economy still finding its footing.

Among the standout movers in recent sessions, gold miners have swung sharply as investors weigh the conflicting pulls of rising bond yields and safe-haven demand tied to the Middle East conflict. Uranium stocks have also seen sharp declines this week, tracking a broader selloff in global uranium equities, while lithium and rare earths names have been more mixed, with several junior explorers reporting fresh drilling results and resource upgrades.

Looking ahead, traders said they would be watching for U.S. retail sales and jobless claims data later this week, along with any further developments in the Middle East that could affect oil markets and broader risk sentiment. Domestically, attention is turning to labor market data due out next week, which will offer the Reserve Bank of Australia additional information as it weighs its next policy move.

For now, the ASX 200 remains caught between competing forces: a resilient corporate earnings backdrop both locally and in the U.S., against a more uncertain global growth picture out of China and ongoing volatility tied to the conflict in the Middle East.

Trading is expected to remain choppy in the sessions ahead as investors sift through the incoming data for clearer signals on the direction of both the Australian and global economies.