BrightBid names Kristoffer Lindström acting CEO, replacing Christos Stavropoulos

On October 5, shares of non-bank lender Mahindra & Mahindra Financial Services (MMFS.NS) jumped as much as 6.53%, marking the largest intraday gain in 10 weeks, reaching 340.3 rupees per share; MMFS most recently rose 2.6%. According to MMFS’s business update, total lending in the September quarter rose 22% year-on-year to 164.9 billion rupees, boosting the stock price. Collection efficiency for Q2 of FY2027 reached 97%, compared to 96% in Q2 of FY2026. Morgan Stanley stated that MMFS’s Q2 update indicates good asset quality and a recovery in loan growth. However, Morgan Stanley and Jefferies reiterated a cautious outlook on FY2027 earnings due to insufficient monsoon and geopolitical uncertainties. Exchange data show that MMFS shares have fallen 18.8% so far this year. (For the convenience of non-English speakers, Reuters has generated automated translations of this report in several other languages. As automated translations may contain errors or lack necessary context, Reuters does not guarantee the accuracy of the automated translation and provides it solely for the reader’s convenience. Reuters assumes no liability for any damage or loss caused by the use of automated translation functions.)

October 5th – PhillipCapital stated that PepsiCo’s domestic bottler, Varun Beverages (VARB.NS), will benefit from market opportunities, product innovation, and strong distribution moat. The brokerage initiated coverage on the stock with a “Buy” rating and set a target price of 560 rupees. PhillipCapital pointed out that the company’s recent business expansions—including KIVA Spirits, the Asahi partnership in India, and collaboration with Carlsberg in Africa—offer additional growth potential not yet reflected in the share price. VARB’s introduction of new consumer product categories, such as zero-sugar carbonated soft drinks, energy drinks, sports drinks, and dairy-based beverages, helps solidify its value base, attract health-conscious consumers, and promote product premiumization. Although there are competitive threats, the brokerage believes that in India's soft drink market, where penetration is still low, new mainstream contenders are more likely to expand the overall market rather than take significant share from existing players. Out of 25 analysts, 22 assign the stock a “Buy” or higher rating; the median target price is 556 rupees. The company’s share price rose 1.7% to 432.55 rupees, with a year-to-date decline of 11.6% (To facilitate non-English speakers, Reuters provides automated translations of its reports into several other languages. As automated translation may be inaccurate or lack the required context, Reuters does not guarantee the accuracy of automated translations and provides them for reader convenience only. Reuters accepts no liability for any damage or loss caused by the use of automated translation features.)

Current Spread in Yield Basis Points U.S. 5.262 % Australia 5.347 % 8.5 Belgium 4.339 % -92.3 Canada 3.944 % -131.8 Denmark 3.268 % -199.4 France 4.866 % -39.6 Germany 3.475 % -178.7 Italy 4.604 % -65.8 Japan 3.091 % -217.1 Netherlands 3.577 % -168.5 Spain 4.087 % -117.5 Sweden 3.146 % -211.7 U.K. 5.369 % 10.7 Source: Tullett Prebon via FactSet (END) Dow Jones Newswires October 05, 2026 01:10 ET (05:10 GMT)

Current Spread in Yield Basis Points Germany 3.475 % Australia 5.347 % 187.2 Belgium 4.339 % 86.4 Canada 3.944 % 46.9 Denmark 3.268 % -20.7 France 4.866 % 139.1 Italy 4.604 % 113.0 Japan 3.091 % -38.4 Netherlands 3.577 % 10.2 Spain 4.087 % 61.2 Sweden 3.146 % -32.9 U.K. 5.369 % 189.4 U.S. 5.262 % 178.7 Source: Tullett Prebon via FactSet (END) Dow Jones Newswires October 05, 2026 01:10 ET (05:10 GMT)