Kay Jay Forgings and Polite Powertech have secured Sebi approval to launch their IPOs. Kay Jay plans to raise Rs 300 crore through a fresh issue along with a Rs 60 crore offer for sale, while Polite Powertech aims to fund working capital and business expansion through its public issue.
The company’s total expenses surged 66.5% YoY to Rs 640 crore, while total income increased 42% YoY to Rs 566 crore during the first quarter of the ongoing financial year 2027.
Key growth factors include products such as MCUs for power tools and light commercial vehicles, the after-exhaust control module (ACM) for medium and heavy commercial vehicles and electronic fuel injection for gensets, as per the brokerage’s view.
Sun Pharma Q1 Results: Sun Pharma reported a 27% YoY rise in Q1 net profit to Rs 2,895 crore, while revenue grew 10% to Rs 15,300 crore, driven by strong performance in India and its innovative medicines business despite weak US formulations sales. EBITDA rose 3% to Rs 4,418 crore. The company highlighted semaglutide approvals and said the Organon acquisition remains on track for early 2027.
Bajaj Finance shares jumped 5% after the NBFC reported a strong Q1 FY27 performance, with standalone net profit rising 28% YoY to Rs 6,081 crore and net interest income growing 23% to Rs 12,571 crore. Robust earnings prompted several brokerages to raise their target prices.
MTAR Technologies shares hit the 5% upper circuit for the second straight session after the company reported a strong Q1 performance, with net profit rising 364.5% year-on-year and revenue more than doubling. The aerospace and precision engineering company also raised growth visibility with an 80% FY27 revenue growth guidance, a Rs 504 crore nuclear order win and an expanded customer order worth around Rs 3,100 crore.
South Korea’s Kospi jumped 18% on Friday as US tech earnings triggered a 28% surge in Samsung and SK Hynix. The sharp rebound follows a 40% crash driven by single-stock leveraged ETFs, drawing retail protests. Nomura targets 10,000-11,000 for Kospi, while Citi downgraded the market to neutral over volatility.
Sony Group reported a 32% year-on-year rise in first-quarter profit, driven by strong performances in its music, gaming and imaging businesses. However, the company warned it is still assessing the financial impact of the Kumamoto earthquake, which disrupted production at one semiconductor facility.
Cathie Wood’s Ark Invest bought nearly 78,965 shares of Nvidia across its five largest ETFs, worth around $15.5 million, after the AI chipmaker’s recent decline. The purchase reflects renewed confidence in Nvidia’s long-term AI growth prospects, despite the stock falling over 6% in the past five sessions and about 17% from its mid-May peak.
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