Stock Market Live Updates: GIFT Nifty Points To Negative Open For Nifty, Sensex; Brent Crude Near $97 A Barrel

Bank of Maharashtra has established a USD 500 million Euro Medium Term Note Programme, giving the lender a fresh debt-market funding framework.

• Programme size: USD 500 million.
• Instrument: Euro Medium Term Notes.

NLC India has approved an external commercial borrowing programme, adding a financing development to the stock's market cues.

• ECB approved: USD 100 million.
• Record date fixed for September 22, 2026.

Kabra Extrusion Technik has approved investments in subsidiaries in the UAE and Vietnam as it expands its battery manufacturing operations.

• Total investment of up to Rs 750 crore across the UAE and Vietnam subsidiaries.
• Expansion is focused on battery manufacturing.
• GEON also received a nomination from a Vietnam passenger vehicle maker for battery pack development and supply.

AXISCADES Technologies has approved a private placement of non-convertible debentures to fund an acquisition and related expenses.

• Fund raising of up to Rs 200 crore.
• NCD coupon: 12.5%.
• Proceeds earmarked for acquisition of Bengaluru-based Cloud Wave Technologies.
• Funds will also cover related transaction expenses.

Texmaco Rail has received two domestic wagon orders, adding a fresh order-flow trigger for the railway equipment maker.

• Two domestic wagon orders worth Rs. 131.36 crore.
• Shibu Mathews appointed Chief Financial Officer with effect from September 5, 2026.

ICICI Securities has started coverage on Amagi Media Labs, highlighting cloud migration, operating leverage and AI products.

ICICI Securities

• Rating: BUY
• Target price: Rs. 700
• Cloud migration in media remains at an early stage.
• Adjusted EBITDA turned positive in FY26.
• Margins expected to improve through operating leverage.
• Revenue growth supported by cross-selling and upselling.
• AI products seen as key revenue and margin drivers.

Goldman Sachs has retained its Sell rating on Wipro, citing subdued near-term growth and muted discretionary spending.

Goldman Sachs

• Rating: SELL
• Target price: Rs. 172
• Near-term growth outlook remains subdued.
• Discretionary spending remains muted.
• Recently ramped-up deals should aid revenue growth.
• BFSI remains resilient with a strong pipeline.
• Healthcare faces pressure from policy changes.
• 1QFY27 marks the bottom for margins.
• AI deflation impact could take a few more quarters to fully play out.

Goldman Sachs has maintained its Buy rating on TBO Tek, pointing to travel-sector expansion and operating leverage.

Goldman Sachs

• Rating: BUY
• Target price: Rs. 1,800
• Expects over 20% annual growth and faster EBITDA growth.
• Global travel remains largely offline.
• Direct supply accounts for around 40% of hotel GTV.
• Travel agents fulfil only 30–40% of demand through TBO.
• Europe is a high-margin market.

Goldman Sachs has retained its Buy rating on Info Edge after a management meeting, citing growth across recruitment and real estate classifieds.

Goldman Sachs

• Rating: BUY
• Target price: Rs. 1,410
• Premium hiring growing 25–30% YoY.
• AI Rex has nearly 400 paid clients.
• JobHai aims to double revenue in FY27 versus FY26.
• Real estate classifieds remains the market leader in traffic and supply.
• Management expects 20–25% sustainable annual billings growth in real estate classifieds.

ICICI Securities has initiated coverage on Prime Focus, highlighting DNEG's order pipeline and the company's expansion into AI-led media opportunities.

ICICI Securities

• Rating: BUY
• Target price: Rs. 375
• DNEG order book at US$1 billion, with 60% contracted and 40% highly visible pipeline.
• India VFX market expected to grow at 12% CAGR.
• Over 90% of revenue comes from recurring customers.
• Expansion underway into theme parks, gaming and digital concerts.
• Brahma AI seen as a key growth trigger and valued at US$1.43 billion.

Brokerages have retained varied views on Hindustan Unilever after its analyst day, with target prices ranging from Rs 2,440 to Rs 2,860.

Morgan Stanley

• Rating: EQUAL-WEIGHT
• Target price: Rs. 2,480
• Focus remains on volume-led growth.
• Consumption and premiumisation expected to contribute 40% of growth, market-making 40% and innovation the balance.
• EBITDA margin guidance widened to 22–24%.
• Capex increased to 3% of revenue.

HSBC

• Rating: BUY
• Target price cut to Rs. 2,440 from Rs. 2,450.
• Volume-led growth to be driven by Consumption & Premiumisation, Market-making and New Spaces.
• EBITDA margin guidance widened to 22–24%.
• Expects growth pickup in coming quarters.

Macquarie

• Rating: OUTPERFORM
• Target price: Rs. 2,860.
• Consumption/premiumisation to drive 40% of incremental sales; market-making 40%; new growth spaces 20%.
• EBITDA margin guidance widened to 22–24%.
• Capex to rise to 3% of sales from 2% over the next five years.

Jefferies

• Rating: BUY
• Target price cut to Rs. 2,450 from Rs. 2,850.
• Strategy focused on broader reach and segment-led growth.
• Premiumisation, category creation and deeper distribution remain growth drivers.
• Upper end of medium-term EBITDA margin range raised to 24%.

Nomura has raised its target price on Avalon Technologies after the company announced a joint venture with Zollner Elektronik AG.

Nomura

• Rating: BUY
• Target price raised to Rs 2,767 from Rs 2,211.
• JV to focus on PCBA, box-build and system integration manufacturing in India.
• Zollner to initially hold 51%.
• Avalon can acquire an additional 2% after three years of commercial production.
• Estimated total JV investment at around US$30–50 million.
• JV expected to support EU diversification and be margin accretive.

Jefferies has maintained its Buy view on Fortis Healthcare after an investor call covering the forensic audit ordered by the Delhi High Court.

Jefferies

• Rating: BUY
• Target price: Rs. 1,125
• Delhi HC-ordered forensic audit is unlikely to disrupt operations, expansion plans or strategy.
• IHH reiterated commitment to Fortis and is willing to provide additional capital if required.
• Company sees no change in FY27 guidance.
• Management remains confident of achieving 25% EBITDA margins by FY28.
• Jaipur and Faridabad hospitals continue to improve margins.
• Oncology planned to be added at facilities where currently absent.

Goldman Sachs has retained its Neutral rating on LTM, citing an improving BFSI environment alongside continued weakness in travel.

Goldman Sachs

• Rating: NEUTRAL
• Target price: Rs. 3,870
• FY27 revenue growth expected to remain broadly similar to last year.
• 3Q growth likely to be stronger than 2Q, aided by deal ramp-ups.
• EBIT margins expected to improve in FY27.
• BFSI seeing month-on-month improvement; Travel remains weak.
• Tech vertical challenges largely behind the company.
• Randstad acquisition expected to be integrated in 3QFY27.
• Medium-term ambition remains double-digit growth.
• AI creating pressure in some legacy areas while opening new growth opportunities.
• Around 25% of code is now AI-generated, with scope to increase further.

The RBI has approved LIC's proposed increase in its holding in ICICI Bank, putting the lender's shareholder structure in focus.

• LIC can acquire an aggregate holding of up to 9.99% of ICICI Bank's paid-up share capital or voting rights.
• The acquisition must be completed within one year from the approval date.

JSW Steel reported higher consolidated crude steel production in August, providing a monthly operating update for the company.

JSW Steel

Crude steel production up 3% YoY to 24.65 lakh tonnes.

Indian operations production up 4% YoY to 23.87 lakh tonnes.

Capacity utilisation at 88%.

NLC India Renewables has secured a Gujarat battery storage project, adding a renewable-energy order trigger to the stock.

• Project capacity: 275 MW/550 MWh.
• Letter of intent received from GUVNL.

Maruti Suzuki has introduced a refreshed Baleno with new technology and powertrain features, adding a new product trigger for the auto major.

• New Baleno prices start at Rs 6.10 lakh.
• Features segment-first Level 2 ADAS.
• Gets ventilated front seats and the new Z12E engine.
• Design has also been refreshed.

Ola Electric has received board approval to raise funds, putting its capital-raising plans in focus.

• Fund raising of up to Rs 1,500 crore approved.
• Possible routes include QIP, rights issue, preferential issue or other permitted securities.
• Board also approved an increase in authorised share capital.
• COO Hyun Shik Park's resignation was noted.

Tata Motors has launched an all-cash tender offer for Iveco Group, making the proposed acquisition a key corporate development for the stock.

• Offer price: EUR 14.10 per share.
• Iveco valuation: EUR 3.82 billion.
• Acceptance period: September 7 to October 26, 2026.
• Iveco's board has unanimously recommended the offer.

US Energy Secretary Chris Wright said a nuclear agreement with Iran may not be imminent and could be left to a future Iranian administration.

Investors will track crude oil prices and developments around the Strait of Hormuz as the US and Iran continue to exchange strikes.

The US struck three Iranian oil tankers over the weekend, while Washington accused Iran of attacking US Navy warships with ballistic missiles.

Iran said it plans to establish a restricted zone outside the Strait of Hormuz and claimed it attacked three tankers in response. The Iranian claim has not been independently verified.

• Brent crude rose as much as 0.8% to about $97 a barrel before paring gains, while West Texas Intermediate traded near $92.
• European natural gas prices climbed as much as 4.2% in thin trade.

• South Korea’s Kospi rose 3.18%, while Japan’s Nikkei 225 gained 2.03%. Australia’s S&P/ASX 200 advanced 0.36%.
• Hong Kong’s Hang Seng and China’s Shanghai Composite traded little changed.

GIFT Nifty declined 48.60 points to 23,999.50, indicating a lower opening for Indian equities on Monday, despite gains across most Asian markets.