Astra Microwave, Bajaj Finserv Boost Indian Markets on Strong Q1

The Indian market registered notable activity on Friday, propelled by a major order win for Astra Microwave Products and impressive first-quarter financial results from Bajaj Finserv and Indian Railway Finance Corporation.

Astra Microwave Shares Surge on HAL Order

Astra Microwave Products witnessed a significant surge in its shares, closing up 11.42% after the company announced a substantial new contract. This order, valued at Rs 2205.23 crore, was secured from Hindustan Aeronautics.

• Share Price: Rs 1922.35
• Percentage Gain: 11.42%
• Contract Value: Rs 2205.23 crore
• Client: Hindustan Aeronautics
• Execution Timeline: Over the next five years

Strong Q1 Performances Boost Financial Sector

Bajaj Finserv reported a robust financial performance for the June 2026 quarter, with its net profit increasing dramatically year-on-year. The company also saw a substantial rise in its total revenue for the period.

• Net Profit (June 2026 quarter): Zoomed 238.75% year-on-year to Rs 11176 million
• Total Revenue (June 2026 quarter): Surged 253.06% to Rs 15336 million

Indian Railway Finance Corporation (IRFC) also posted a rise in its first-quarter net profit for Q1FY27. The company’s total income experienced a significant increase, reflecting a positive start to the fiscal year.

• First-Quarter Net Profit (Q1FY27): Rose 10%
• Total Income (Q1FY27): Increased by 21.29% to Rs 8,391.34 crore
• Scrip Movement: Traded marginally higher by 0.39% at Rs 89.29

Corporate Governance Update at Shelter Pharma

In related corporate news, Shelter Pharma announced a new appointment to its board. Vinita Shivraj Gadhvi has been named an Additional Independent Director, with her tenure commencing at the end of July.

• New Appointee: Vinita Shivraj Gadhvi
• Role: Additional Independent Director
• Tenure Start: July 31, 2026
• Tenure Length: Five years, subject to shareholder approval