Stock Market Today Live Updates: GIFT Nifty Points To Gap-Up Open For Nifty, Sensex; Japan's Nikkei 225 Tops 61,000 For First Time

• Morgan Stanley maintained an equal-weight rating on Meesho and raised its target price to Rs 190 from Rs 174, citing Q4 results and continued growth in net merchandising value.
• The brokerage said contribution margin improved to 4%, while adjusted EBITDA beat estimates due to operating leverage.

• Morgan Stanley maintained an underweight rating on Kansai Nerolac with a target price of Rs 191, citing in-line Q4 results and auto-led growth.
• The brokerage said decorative paints saw sequential improvement, while the auto segment grew in double digits. It said no further price hike would be needed if crude stays at $100.

• Citi maintained a sell rating on SRF and raised its target price to Rs 2,675 from Rs 2,575, citing R32 supply additions in India through CY26 and CY27.
• Jefferies maintained an underperform rating and cut its target price to Rs 2,450 from Rs 2,640. It said refrigerant gas will drive FY27 chemicals growth, while overcapacity could weigh on prices by mid-CY27.

• Citi maintained a buy rating on Paytm with a target price of Rs 1,375, citing higher core payment margins, merchant business growth and financial services momentum.
• Jefferies also maintained a buy rating with a target price of Rs 1,350. It said revenue growth was led by financial services, even as the company did not receive PIDF and UPI incentives.

• Citi maintained a sell rating on Bajaj Auto and raised its target price to Rs 9,300 from Rs 8,000, citing export outlook and commodity cost pressure.
• Jefferies maintained a hold rating and raised its target price to Rs 10,500 from Rs 9,100. It cited Q4 growth, two-wheeler demand and export growth, while flagging commodity prices as a margin headwind.

Citi maintained a buy rating on Shree Cement but cut its target price to Rs 29,200 from Rs 31,650, citing higher volumes, lower realisations and higher costs.

Morgan Stanley maintained an underweight rating with a target price of Rs 25,500. It cited the company’s FY27 volume growth guidance and cost inflation as factors to track.

Citi initiated coverage on NTPC, Tata Power, Power Grid and JSW Energy with buy ratings. It set target prices of Rs 485 for NTPC, Rs 525 for Tata Power, Rs 380 for Power Grid and Rs 650 for JSW Energy.

The brokerage said India’s power sector capex cycle spans thermal, renewables, transmission and grid storage. It expects medium-term power demand to grow at a 5–6% compound annual rate, led by electrification, data centres, cooling demand and policy-backed manufacturing.

Morgan Stanley maintained an equal-weight rating on Godrej Consumer with a target price of Rs 1,159, citing near-term EBITDA margin risk. Citi kept a buy rating but cut its target price to Rs 1,300 from Rs 1,425.

Jefferies maintained a buy rating and reduced its target price to Rs 1,400 from Rs 1,500. Brokerages cited higher crude and palm-led costs, price hikes, India home care growth and muted international EBITDA growth.

• Jefferies upgraded Hero MotoCorp to hold from underperform with a target price of Rs 5,000, citing two-wheeler demand, some market share recovery and an improving EV franchise.
• Kotak Securities maintained a sell rating with a target price of Rs 4,700. It cited margin pressure, exposure to underperforming segments and market share loss as risks for FY27.

• Citi maintained a buy rating on PB Fintech and raised its target price to Rs 2,275 from Rs 2,225, citing a strong operational quarter and better visibility on Paisabazaar’s profitability.
• Jefferies also kept a buy rating and raised its target price to Rs 1,950 from Rs 1,800. Morgan Stanley maintained an underweight rating with a target price of Rs 1,215, citing valuation and regulatory risks.

• Godrej Consumer Products reported Q4 revenue of Rs 3,900 crore, up 11% from a year earlier. Net profit rose 9.7% to Rs 452 crore, while EBITDA increased 10.8% to Rs 841 crore.
• EBITDA margin was flat at 21.6%. The company said elevated crude and palm-led inflation could weigh on margins in the first half of FY27.

HDFC Bank shares will be in focus after the RBI allowed its group entities to hold up to 9.95% in ICICI Bank and Kotak Mahindra Bank.

The approval is valid for one year and covers holdings by HDFC Mutual Fund, HDFC Life, HDFC ERGO, HDFC Pension Fund Management and HDFC Securities. The approval does not involve a direct investment plan by HDFC Bank.

Read the full story here.

• Meesho reported Q4 revenue of Rs 3,531 crore, up 47.1% from a year earlier. Net loss narrowed to Rs 166 crore from Rs 1,391 crore, while EBITDA loss widened to Rs 255 crore from Rs 233 crore.
• Net merchandising volumes rose about 43% in Q4. The company will invest up to Rs 100 crore in Meesho Payments, while Morgan Stanley maintained an equal-weight rating and raised its target price to Rs 190 from Rs 174.

• Hexaware reported Q1CY26 revenue of Rs 3,613 crore, up 3.9% from the previous quarter. EBIT rose 88.9% sequentially to Rs 480 crore, while EBIT margin expanded to 13.3% from 7.3%.
• Constant currency revenue fell 0.3% sequentially. The company reaffirmed its CY26 revenue growth floor of 7.6% and retained its full-year EBIT margin guidance of 13–14%.

• One97 Communications reported Q4 operating revenue of Rs 2,254 crore, up 7% from the previous quarter. EBITDA rose 79% sequentially to Rs 122 crore, while EBITDA margin improved to 5% from 3%.
• The company said revenue momentum was led by market share gains, higher distribution of financial services and growth in merchant GMV. Citi and Jefferies maintained their buy ratings on the stock, with target prices of Rs 1,375 and Rs 1,350, respectively.

• Deepak Fertilisers completed the acquisition of Chardham Chemicals, while ACME Solar received a certificate for its Gujarat wind project.
• Easy Trip Planners will consider a fundraise on May 1, and Servotech Renewable received an order from South Central Railway for 1,415 kW rooftop solar systems.
• Studds Accessories will be tracked due to a lock-in expiry.

• Brigade Enterprises approved one bonus share for every three shares held, while Trent fixed June 4 as the record date for bonus shares.
• TD Power Systems’ board will consider a stock split on May 14, and Waaree Energies’ arm signed a power purchase agreement with Solar Energy Corporation.
• Samvardhana Motherson, SCI Land & Assets, Mahindra Lifespace, Nitco and Ashiana Housing will also be tracked after company updates.

• Bajaj Auto, Meesho, PB Fintech, Paytm, Blue Star, Hexaware, Muthoot Microfin, Raymond Lifestyle and Avalon Tech will be in focus after their post-market earnings updates.
• Birlasoft reported a 3.7% sequential decline in constant currency growth, while Godrej Consumer Products missed profit, revenue and EBITDA estimates.
• Brigade Enterprises will also be tracked after reporting weaker collections.

• Overnight, the S&P 500 rose 1.46%, while the Nasdaq Composite gained 2.02%.
• Both indexes touched new intraday highs and ended at record closing levels.
• The Dow Jones Industrial Average rose 612.34 points, or 1.24%.

• Brent crude futures for July rose 0.91% to $102.19 a barrel.
• U.S. West Texas Intermediate futures for June gained 1.23% to $96.25 per barrel.

Companies including ACME Solar Holdings, Bharat Forge, Biocon, Dabur India, Lupin, MRF, Pidilite Industries, Sonata Software, Thermax, V-Mart Retail and Westlife Foodworld are scheduled to report earnings today.

• Japan’s Nikkei 225 crossed the 61,000 mark for the first time as Asia-Pacific markets extended gains.
• Australia’s S&P/ASX 200 rose more than 1%, while South Korea’s Kospi gained 1.17%. The Kosdaq fell 0.4%.
• Hong Kong’s Hang Seng index futures traded at 26,423, above the index’s previous close of 26,213.78.

GIFT Nifty traded at 24,490, compared with Wednesday’s Nifty 50 close of 24,330.95.