Stock Market Crash Live: GIFT Nifty Points To Gap-Down Open For Nifty, Sensex; Brent Crude Holds Above $103 A Barrel

CARE placed PNC Infratech's Rs 1,700 crore long-term and Rs 5,000 crore short-term facilities on negative watch.

• Long-term facilities: Rs 1,700 crore.
• Short-term facilities: Rs 5,000 crore.
• Rating action: Negative watch.

Ashoka Buildcon acquired 100% of Sakoli Power Transmission for Rs 3.06 crore, with commercial operations scheduled within 24 months of the acquisition.

• Stake acquired: 100%.
• Acquisition value: Rs 3.06 crore.
• Scheduled commercial operation timeline: 24 months from SPV acquisition.

Power Grid acquired the Barmer HVDC Power Transmission project special purpose vehicle for Rs 18.98 crore.

• Project SPV: Barmer HVDC Power Transmission.
• Acquisition value: Rs 18.98 crore.

PC Jeweller allotted 1.18 crore shares to promoter Balram Garg following the conversion of 1.18 crore warrants.

• Shares allotted: 1.18 crore.
• Allottee: Promoter Balram Garg.
• Shares allotted upon conversion of 1.18 crore warrants.

PC Jeweller said it has repaid debt owed to 13 of its 14 consortium banks, discharging 99% of its outstanding bank debt.

• Debt repaid to 13 out of 14 consortium banks.
• 99% of outstanding bank debt discharged.

JSW Infrastructure received multiple rating actions from CARE covering its subsidiaries and bank facilities.

• CARE assigned AA- with Stable outlook to JSW Jatadhar Marine Services' Rs 2,100 crore bank facilities.
• CARE reaffirmed JSW Infrastructure's AA Stable rating; bank facilities increased to Rs 480 crore.
• CARE upgraded JSW Jaigarh Port's long-term rating to AA and reaffirmed its short-term rating for Rs 745 crore facilities.

Voltas drew three brokerage updates, with BofA and HSBC retaining Buy ratings while Jefferies cut its target price on margin concerns.

BofA on Voltas

• Rating: Buy
• Target price: Rs 1,400
• Meeting reinforced its margin opportunity thesis.
• Q2 revenue trends were encouraging, aided by a weak base.
• Strategic focus includes market share, premiumisation and operations.

HSBC on Voltas

• Rating: Buy
• Target price: Rs 1,450
• Market share improved and the lead over the second-largest player widened.
• Inventory holdings remain low.
• Rs 200 crore in data centre orders.

Jefferies on Voltas

• Rating: Buy
• Target price cut to Rs 1,495 from Rs 1,580.
• Despite a 12% price hike, cost pressures continue.
• Jefferies factored in margin pressure and cut EPS estimates.

Max Estates signed a binding MoU for a proposed joint development agreement involving a 9.76-acre land parcel in Ghaziabad.

• Land parcel: approximately 9.76 acres.
• Development potential: approximately 1.5 million sq ft.
• Estimated gross development value: Rs 2,500-3,000 crore.
• Project is structured on a capital-light model.

Bharat Dynamics signed an Rs 811 crore agreement with the Defence Ministry for SAT-SAAW, adding a fresh defence order to the company's announcements.

• Contract value: Rs 811 crore.
• Agreement signed with the Defence Ministry.
• SAT-SAAW refers to Satellite Smart Anti-Airfield Weapons.

Ola Electric is seeking board approval for a proposed rights issue, with the company considering the route for participation by eligible shareholders.

• Company is seeking board approval for a proposed rights issue of shares.
• The rights issue route is being considered for participation by eligible shareholders.

Jefferies said Adani Ports is positioned to benefit from India's container transshipment opportunity, with Vizhinjam identified as a key asset.

Jefferies on logistics

• India is the world's seventh-largest container market and the second-fastest growing among major economies.
• 75% of India's transshipment traffic is handled overseas.
• Jefferies sees an opportunity from the shift towards hub-and-spoke networks.
• It believes Adani Ports is best placed to capture the opportunity through Vizhinjam's location, deep draft, operating capabilities and MSC partnership.

Macquarie maintained its Outperform rating on HDFC Bank as the RBI seeks feedback from IRDAI on Anup Bagchi's candidature for the lender's top job.

Macquarie on HDFC Bank

• Rating: Outperform
• Target price: Rs 1,150
• RBI is seeking feedback from IRDAI on Anup Bagchi's candidature.
• No final decision has been taken on HDFC Bank's CEO succession.
• The board forwarded Kaizad Bharucha and Anup Bagchi's names to the RBI.
• Bagchi is described as a frontrunner in media reports.
• Bagchi currently heads ICICI Prudential Life.

Bajaj Finance drew two brokerage updates, with UBS upgrading the stock while Jefferies retained its Buy rating and said the growth and profitability outlook remained strong.

Jefferies on Bajaj Finance

• Rating: Buy
• Target price: Rs 1,280
• Management remains confident about near-term and long-term growth and profitability.
• Strong demand, asset quality and efficiencies are expected to offset somewhat lower NIM.
• Management plans to grow AUM at a 23% CAGR over the next 10 years.
• AI is receiving high attention from management and the board.

UBS on Bajaj Finance

• Rating upgraded to Neutral from Sell.
• Target price raised to Rs 1,100 from Rs 910.
• UBS expects cyclical EPS upgrades from yield-accretive growth and strong asset quality.
• Valuation remains demanding, according to UBS.

CLSA maintained its Outperform rating on Adani Ports with a Rs 2,070 target price, citing traffic growth and expansion across logistics and marine businesses.

CLSA on Adani Ports

• Rating: Outperform
• Target price: Rs 2,070
• Ports handled traffic at 2x the country's growth rate over FY21-26.
• Market share gained 300 basis points year on year.
• FY31 target of 1 billion tonnes implies a 15% CAGR.
• Five-year revenue and port EBITDA CAGRs are guided at 17% and 18%, respectively.
• Logistics and marine expansion is expected to strengthen the earnings mix.

National Stock Exchange of India is scheduled for listing, putting the exchange's financial profile in focus as investors track its first-quarter numbers.

National Stock Exchange of India

• Assets: Rs 91,334.07 crore as of June 30, 2026 versus Rs 87,937.44 crore as of March 31, 2026.
• Total income: Rs 5,252.17 crore versus Rs 18,713.37 crore.
• Profit after tax: Rs 3,120.08 crore versus Rs 10,302.06 crore.
• EBITDA: Rs 4,332.04 crore versus Rs 14,519.09 crore.
• Net worth: Rs 34,983.74 crore versus Rs 31,869.72 crore.
• Reserves and surplus: Rs 34,996.73 crore versus Rs 31,866.04 crore.

Brent crude traded below $103 a barrel after gaining nearly 4% in the previous session. The oil benchmark fell 0.8% to around $102.30 in early Asian trade, while West Texas Intermediate held near $92.

The 10-year US Treasury yield rose 15 basis points to 5.11%, its largest one-day increase since April 2025.

Stronger economic data and weak demand at US government debt auctions drove yields higher. The five-year Treasury yield crossed 5% for the first time since 2007.

Japan’s Nikkei 225 rose 1.63%, while South Korea’s Kospi gained 0.90%.

Australia’s S&P/ASX 200 declined 1.27%, while China’s Shanghai Composite slipped 0.01%.

GIFT Nifty traded at 23,260, indicating that Indian equities could open about 189.80 points lower on Thursday.

Investors tracked a rise in US Treasury yields, higher crude oil prices and expectations of further interest rate increases by the US Federal Reserve.