Stocks

Norsk Hydro’s Alunorte alumina refinery in Brazil cut production to 50% of capacity due to a gas shortage, tightening global alumina supply. Alumina prices are currently about 10% of aluminium prices, below the historical average of 14%–16%. NALCO surged as much as 8% intraday on Wednesday as alumina contributes 27% of its FY2026 EBIT and 44% of its FY2025 EBIT. Hindalco and Vedanta Aluminium rose about 3% as expectations of higher alumina prices boosted upstream names.

Godrej Consumer Products said Managing Director and CEO Sudhir Sitapati resigned with immediate effect, sending the stock down as much as 10% intraday to Rs 916 on the BSE. Citi said management reiterated its FY27 guidance and gave no indication of a change in strategy. CLSA kept an Underperform rating and cut its target price to Rs 772, while HSBC downgraded the stock to Hold and reduced its target to Rs 1,120. The company recently reported a 12% year-on-year rise in quarterly net profit to Rs 505 crore.

Optical communications component supplier Lumentum issued guidance for the first quarter of fiscal 2027, projecting revenue of $1.225 billion to $1.275 billion. The company set an operating margin target of 39.5% to 40.5%. The guidance was referenced from the company’s earnings conference call, according to an AI-generated summary published without human review, which cautioned that the information may be inaccurate.

Commonwealth Bank of Australia reported full-year results, with cash net profit up 7% year on year to A$11 billion, slightly ahead of market expectations. Operating income rose 6.2% to A$30.2 billion, while net interest margin edged down to 2.05% from 2.08%. The bank lifted its final dividend by 3.9% to A$2.70 per share. After the release, the stock fell 0.6% in line with the broader market.

Temasek, one of Asia’s largest sovereign wealth funds, has made its first investment in South Korean stocks by buying Samsung Electronics and SK Hynix. The fund views memory semiconductors as the most undervalued segment across the AI value chain. A banking industry insider said Temasek invests with a long-term horizon and deploys large amounts of capital into industry leaders. The move was disclosed by Citrini analyst Jukan in a post on X.

Commonwealth Bank of Australia reported FY26 results with cash NPAT up 7%, but its shares fell about 2% to $171.36 and are down about 5% over the past week, while still up roughly 7% year to date. Seek plunged about 16% to $13.55 after investors reacted to the company’s FY26 update and concerns its FY27 guidance could come in weaker than expected, taking its year-to-date decline to 42%. Moves in both stocks weighed on sentiment in the Australian market on Wednesday.

Austral Resources has agreed to acquire Hammer Metals in a binding scrip deal that values Hammer at $80.7 million, with Hammer shareholders to receive 1.29 Austral shares for each Hammer share. Hammer shareholders will also keep shares in a new spin-out vehicle holding Hammer’s Western Australian gold assets, while Hammer’s board and major shareholders back the transaction. Hammer’s 39.2mt Kalman copper resource is expected to become a future ore feed source for Austral’s Rocklands processing hub. Separately, Austral said the Queensland Critical Minerals Fund invested $15 million via a nondilutive royalty financing arrangement to support a stage 2 expansion of the Rocklands facility.

Pixelworks said it expects cash operating expenses to be below $2.5M per quarter in 2026. The company also announced a new multiyear device certification agreement. The update was released on Aug. 11, 2026.

India’s gold-loan lender Muthoot Fincorp has appointed Kotak Mahindra Capital, Morgan Stanley India, JM Financial and SBI Capital Markets as bookrunning lead managers for its planned ₹3,000crore initial public offering. The issue is expected to be largely fresh shares and could dilute promoter ownership by about 10%. As of March 31, 2026, the company’s consolidated assets under management stood at ₹73,448.82 crore.

Computer Modelling Group reported fiscal 2026 first-quarter revenue of $27.8 million, down 6% year over year. Recurring revenue fell 3% to $20.3 million, while adjusted EBITDA declined 10% to $6.4 million. Earnings per share were $0.02, down 50%, and free cash flow slipped 22% to $3.5 million. The board also approved a quarterly cash dividend of $0.01 per share.