ICRA said India Inc’s Q1 FY27 earnings began on a stronger-than-expected note, with revenue growth accelerating to 22%. Despite margin pressure from higher commodity costs and weakness in oil refining and IT services, consumption-led sectors remained resilient. Healthy corporate balance sheets, rising capex and improving credit metrics offer support.
Shein is reportedly planning a Hong Kong IPO on August 28, reviving its long-awaited public listing plans after exploring New York and London. The Singapore-based fast-fashion retailer may target a $30–40 billion valuation, well below its 2022 peak, amid slower growth, higher costs and financial pressure following US trade-policy changes.
European shares edged higher as easing oil prices offered some relief, though stalled US-Iran peace efforts and Strait of Hormuz disruptions capped gains. The STOXX 600 rose 0.2%, while the FTSE 100 slipped 0.3% despite stronger-than-expected UK economic growth.
Shares of KRN Heat Exchanger and Refrigeration hit a upper circuit on Thursday, following a strong Q1 FY27 earnings performance. The rally was driven by robust demand across both domestic and international markets.
Indian government bonds showed minor fluctuations as market participants remained cautious, looking for new cues. Meanwhile, oil prices settled amidst ongoing concerns over a possible peace deal between the U.S. and Iran. Investors seemed unfazed by recent inflation statistics from both the domestic scene and the U.S., which reinforced the view that interest rate adjustments from either central bank are unlikely soon. The recent dip in U.S.
UBS upgraded MCX to Buy from Neutral and raised its target price to Rs 3,800, citing attractive valuations, resilient trading volumes and positive regulatory developments. The brokerage also raised its FY27-FY29 EPS estimates by 4%-9%, while expecting strong commodity volatility and operating leverage to support earnings growth.
Nebius shares surged 34% after revenue jumped 454% year-on-year to $582 million, beating estimates. Strong AI cloud demand and improving profitability boosted sentiment, while CoreWeave also rallied. However, heavy infrastructure spending, ongoing net losses and valuation concerns remain key risks as investors assess the sustainability of AI-driven growth.
Chinese mainland stocks advanced, led by optical communications and technology shares, as strong AI demand forecasts boosted sentiment. Hong Kong equities remained subdued amid concerns over weak consumption, rising AI spending and uncertain returns.
Credent Connect N Care raised Rs 26.53 crore from 10 anchor investors ahead of its IPO, with Abakkus Asset Management emerging as the largest participant. The healthcare logistics company’s Rs 93.90-crore IPO opened on August 13 and will remain open until August 17. The issue carries a price band of Rs 179–189.
Gaja Alternative Asset Management is set to launch its Rs 550 crore IPO on August 19, with a price band of Rs 152-160 per share. The issue comprises a fresh issue and OFS, with proceeds aimed at funding sponsor commitments and strengthening its investment portfolio.
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