Stock Market LIVE: GIFT Nifty Points To Negative Open For Nifty, Sensex; Brent Falls Near $98 A Barrel

• Dr Anish Shah sold 76,357 Mahindra & Mahindra shares on September 22 to fund taxes related to an employee stock option plan.
• The transaction was disclosed as an insider sale

• 360 ONE WAM has appointed Aashish Agarwal as CEO with effect from February 15, 2027.
• Karan Bhagat will continue as managing director until July 26, 2030.

• The Ministry of Corporate Affairs will hear the matter relating to NHPC's scheme of amalgamation with Arm Jalpower Corp on September 28.
• The hearing is the next procedural step in the proposed amalgamation.

• Spectrum Electrical has signed a memorandum of understanding with the Maharashtra government to develop government ITI infrastructure under a public-private partnership model.
• The agreement covers infrastructure development for government industrial training institutes.

• Shoppers Stop had 117 department stores as of August 31.
• The latest store count provides an update on the company's retail network

• Avenue Supermarts has opened a new store in Maharashtra, taking its total store count to 513.
• The latest addition expands the retailer's store network in the state

• Aarti Pharmalabs is targeting 15-18% revenue and EBITDA CAGR over the next three to four years.
• The company spent Rs 400 crore on capex in FY26 and expects FY27 capex to remain at similar levels.
• It also plans to invest in R&D for peptides and oligonucleotides, with groundbreaking for Atali Block 2 planned in Q3 FY27.

Coforge is expanding its AgenticOps capabilities for enterprises as it targets greater automation and autonomy across business operations.

The company says its AgenticOps platform is designed to support enterprise autonomy at scale.

ITC raised the price of a 10-cigarette Gold Flake Premium pack to Rs 135 from Rs 125 in September, according to dealer checks. This marks the second increase this year and takes the cumulative price rise to 17.4% from Rs 115.

The company also raised prices of Classic Connect by 9.74% and Gold Flake Super Star by 12.66% in September. ITC has yet to respond to NDTV Profit’s request for comment.

• HCLTech has been selected by M Group for an AI-led IT transformation programme covering more than 200 locations across the UK and Ireland.
• The contract expands HCLTech's enterprise AI transformation work in the region.

• IRB Infrastructure's board has approved the monetisation of non-core assets.
• The company plans to develop around 350 acres of land parcels in Pune through AIIPL and redevelop around 3,500 square metres of land in Mumbai through IRBPL.

• Punjab & Sind Bank has received a notice for a bank strike from September 28 to September 30.
• Branch operations may be affected if the proposed strike takes place.

• Embassy Developments has allotted non-convertible debentures worth Rs 105 crore out of a total issue size of Rs 160 crore.
• The allotment forms part of the company's debt issuance programme.

• NATCO Pharma's board will meet on September 25 to consider a rights issue of shares of up to Rs 1,300 crore.
• The board will also consider the terms of the proposed rights issue.

• JSW Dulux has fixed October 22 as the record date for its stock split.
• The company will split each existing share into 10 shares.

• Sapphire Foods has received another GST show-cause notice, this time for Rs 21.47 crore for FY23.
• The notice is separate from the Rs 516.84 crore notice covering April 2023 to March 2024.

• Sapphire Foods has received a GST show-cause notice of Rs 516.84 crore under the Tamil Nadu SGST Act for April 2023 to March 2024.
• The notice covers the company's tax position for the specified financial year.

• Promoters of Veranda Learning have pledged shares against personal borrowing of Rs 111 crore.
• Kalpathi S. Aghoram, Kalpathi S. Ganesh and Kalpathi S. Suresh created the pledge in favour of Authum Investment & Infrastructure, which holds a 10.8% stake in Veranda Learning.

• Cupid has raised its FY27 revenue guidance to Rs 725-750 crore and net profit guidance to Rs 210-225 crore.
• The company has set FY28 revenue guidance at Rs 1,085 crore and FY29 revenue guidance at Rs 1,500 crore.
• Cupid also targets Rs 150 crore of FY27 revenue from distribution expansion and sees Rs 500 crore of annual revenue potential.

• Arvind SmartSpaces has secured bookings of more than Rs 500 crore in a Bengaluru project within 30 days of its launch.
• The project was acquired outright in February 2026 and has a topline potential of Rs 860 crore.

• Jefferies sees a large opportunity from India's container transshipment market and identifies Adani Ports as positioned to capture it.
• Jefferies says 75% of India's transshipment traffic is currently handled overseas, while hub-and-spoke networks could complement domestic volume growth.
• The brokerage highlights Vizhinjam's location, deep draft, operating capabilities and MSC partnership.

Jefferies has maintained its Buy rating on Patanjali Foods with a target price of Rs 560.

Jefferies

• Rating: Buy

• Target price: Rs 560

• Management sees near-term rural demand softness but expects a festive-led recovery.

• The company has maintained FY27 growth guidance despite sunflower oil supply disruptions and commodity inflation.

• Expects 4% volume growth in edible oil, 8-10% in foods and 15% in FMCG HPC.

• Expects FMCG HPC margins to remain at 18-20%.

Macquarie has initiated coverage on CleanMax with an Outperform rating and a target price of Rs 1,700.

Macquarie

• Rating: Outperform

• Target price: Rs 1,700

• Describes CleanMax as India's largest pure-play Commercial & Industrial renewables platform by capacity.

• Expects its installed base to more than double to around 8 GW by FY29E.

• Sees repeat C&I business and data and AI exposure supporting growth.

• Identifies longer-term earnings potential in the C&I renewables market.

CLSA has maintained its Outperform rating on Hindalco with a target price of Rs 1,240.

CLSA

• Rating: Outperform

• Target price: Rs 1,240

• Expects EBITDA to more than double over five years.

• Sees Novelis' Bay Minette expansion and debottlenecking taking volumes above 5 million tonnes.

• Expects India upstream EBITDA to more than double.

• Sees India downstream EBITDA rising to US$1 billion from US$200 million.

• Expects Novelis net debt to peak by Q4 FY27 despite US$10 billion of India capex.

JPMorgan has maintained its Overweight rating on Dixon Technologies with a target price of Rs 16,400.

JPMorgan

• Rating: Overweight

• Target price: Rs 16,400

• Expects exports to drive the next phase of growth.

• Says return on capital employed will not be compromised.

• Notes plans to enter low-volume, high-margin segments including defence, medical electronics, drones and robotics.

• The company remains open to inorganic expansion.

Kotak Securities has maintained its Buy rating on Jubilant Ingrevia with a target price of Rs 1,010.

Kotak Securities

• Rating: Buy

• Target price: Rs 1,010

• Says concerns around the FMC contract are already reflected in the stock price.

• Sees the Zettaone acquisition as too small to warrant a de-rating.

• Expects Q2 results to be good despite fresh hostilities in the Middle East.

• Expects earnings growth in FY27 and beyond, supported by the order book and improved chemical intermediate results.

Kotak Securities has initiated coverage on Shadowfax with an Add rating and a target price of Rs 310.

Kotak Securities

• Rating: Add

• Target price: Rs 310

• Sees revenue and adjusted EBITDA CAGR of 31% and 58%, respectively, over FY2026-30.

• Identifies mix benefits and account share gains as key drivers.

• Flags increased concentration to Meesho and customer pricing pressure as risks

• Kaynes Technology, LIC Housing Finance, Manappuram Finance and SAIL are in the F&O ban period.
• The four stocks will remain subject to the applicable derivatives trading restrictions.

HSBC has maintained its Hold rating on Persistent Systems after the company's acquisition of control in Nagarro SE.

HSBC

• Rating: Hold

• Target price: Rs 5,000

• Persistent has secured control of Nagarro SE.

• It has another two-week window to increase its stake.

• A holding above 90% could allow it to pursue a squeeze-out of minority shareholders.

• HSBC says this could accelerate Nagarro integration.

Persistent Systems' arm has acquired an additional 61.15% stake in Nagarro SE through a public offer, taking its holding to 83.25%.

The additional acceptance period for Nagarro shareholders runs from September 23 to October 6, while the company intends to delist Nagarro from the Frankfurt Stock Exchange.

Voltas has drawn differing views from brokerages, with margin pressure emerging as a key point of discussion.

BofA

• Rating: Buy

• Target price: Rs 1,400

• Says its meeting reinforces the margin opportunity thesis.

• Sees encouraging Q2 revenue trends aided by a weak base.

HSBC

• Rating: Buy

• Target price: Rs 1,450

• Says market share has improved and the lead over the second-largest player has widened.

• Sees inventory holdings remaining low.

• Notes Rs 200 crore in data centre orders.

Jefferies

• Rating: Buy

• Target price: Rs 1,495, cut from Rs 1,580

• Expects margins to face pressure despite a 12% price hike.

• Factored in margin pressure and cut its earnings-per-share estimates.

Citi has initiated coverage on Tata Capital with a Buy rating and a target price of Rs 450, highlighting its growth and earnings profile.

Citi

• Rating: Buy

• Target price: Rs 450

• Sees structurally improving growth engines.

• Expects margin and operating expenditure levers to support earnings growth.

• Prefers NBFC franchises combining scale with earnings upside, including Bajaj Finance and Tata Capital.

HDFC Bank's CEO succession remains under consideration, with the RBI seeking feedback from IRDAI on Anup Bagchi's candidature.

Macquarie

• Rating: Outperform

• Target price: Rs 1,150

• HDFC Bank's board has forwarded the names of Kaizad Bharucha and Anup Bagchi to the RBI.

• Bagchi is currently the head of ICICI Prudential Life.

• Any external CEO appointment could lead to senior management exits.

• Macquarie says stabilising the leadership team may be the immediate priority.

Aditya Infotech has opened its qualified institutional placement, with the floor price set at Rs 3,648.43 per share.

The company may offer a discount of up to 5% to the floor price.

Brent crude approached $98 a barrel, extending its decline to a sixth consecutive session and taking its loss over the period to more than 9%.

West Texas Intermediate for November delivery fell below $90 a barrel.

GIFT Nifty traded at 23,340, indicating that Indian equities could open about 54.60 points lower on Wednesday.

The signal came despite gains across most Asian markets, after the Nasdaq 100 closed at a record high and oil prices declined.