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The GIFT Nifty, an early indicator of Nifty 50's performance, traded at 24,218. On Monday, Indian equity benchmark—NSE Nifty 50—wiped out most of Friday's gain amid F&O expiry and weak global cues due to a sell-off triggered by the US blockade announcement in the Strait of Hormuz. The 50-stock index declined nearly 1% to settle above 23,800. On Friday, the benchmark index had closed at 24,050.60 on Friday. Meanwhile, the BSE Sensex closed over 700 points lower or 0.97% to end near 77,000. Markets were shut on Tuesday for public holiday.
Hong Kong’s Hang Seng index gained 0.95% in early trade.
The brokerage cited slower growth visibility, limited new product launches and the phase-out of the company’s largest insulin brand.
It also flagged management changes and said the current valuation does not justify a premium multiple.
Jefferies maintained Buy and raised the target price to Rs 3,770, while Citi maintained Buy with a Rs 3,900 target.
Kotak Securities downgraded the stock to Reduce from Add and raised the target price to Rs 3,250, citing valuation concerns.
BofA expects FY27 CPI at 5.2% and sees a 50 basis point rate hike from December 2026.
Kotak Securities estimates FY27 CPI at 4.7%, while Citi revised its FY27 forecast to 4.6%. Both expect the RBI to stay on hold for now unless inflation risks rise further.
The company invested Rs 54 crore in the expansion.
With the new facility, total EPS production capacity has increased to 1.15 lakh tonnes per annum.
The team is expected to return to India on Thursday.
Officials are also expected to visit the European Court of Human Rights in Strasbourg within the next two weeks after Nirav Modi moved the court in a final attempt to delay extradition.
A reported U.S. proposal for a 20-year freeze on Iran’s uranium enrichment, and Tehran’s counteroffer for five years, signalled ongoing diplomatic engagement despite differences. (TIME)
More than 20 commercial ships reportedly passed through the Strait of Hormuz in the past 24 hours, easing concerns over disruption to global oil supply routes. (timesofisrael.com)
Average realisations increased 7% YoY to Rs 16,569 per sq ft.
The company said FY26 sales reached a record Rs 30,025 crore, supported by launches. It also added new projects with estimated GDV of over Rs 50,000 crore.
Vehicle sales increased 17.72% YoY to Rs 1,508 crore.
The company said sales growth was affected by limited availability of BYD cars and expects supply to normalise in the June quarter.
The move could support pricing and capacity use for Tata Steel Netherlands, which operates within the EU market.
Any impact on Tata Steel UK and India operations is seen as limited compared with the group’s overall business mix.
The facility will be set up by the IAF with technical support from GE Aerospace.
Once operational, it is expected to reduce reliance on overseas repair centres and improve turnaround time for engine maintenance.
The new entities are Babai Transmission, Bikaner Transmission, Humnabad Power Transmission and Hebbani Power Transmission.
The update was disclosed through an exchange filing.
The S&P 500 gained 1.2% and closed near a fresh record high after recovering recent war-led losses.
The Nasdaq 100 advanced 1.8%, marking its 10th straight day of gains, its longest winning run since 2021.
U.S. crude for May delivery fell 0.88% to $90.4 a barrel. Brent crude for June delivery slipped 0.31% to $94.47 a barrel.
Japan’s Nikkei 225 rose 1.16%, South Korea’s Kospi gained 3.05%, and Australia’s ASX 200 added 0.20%.
GIFT Nifty traded at 24,218, above the Nifty 50’s previous close of 23,842.65 on Monday. The trend indicates a higher opening for Indian equities at the start of trade.
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