Stock Market Live: GIFT Nifty Points To Muted Open For Nifty, Sensex; Brent Crude Inches Near $88 A Barrel

TCS said it found no credible evidence of an employee data breach and added that no customer data or systems were impacted.

Texmaco Rail signed an MoU with Belgium's The Signalling Company NV for collaboration on ETCS and Kavach technologies.

RailTel received an order worth Rs 119 crore from the Department of Posts, adding to its order book.

Aegis Logistics has commissioned a 36,000 MT ammonia terminal at Pipavav, adding capacity at its logistics infrastructure operations.

CPPIB plans to invest up to Rs 3,000 crore in Prestige Estates' arm Prestige Hospitality and acquire up to 28% stake in the company.

Dilip Buildcon will sell Mekhali Power and DBL Renewable projects worth Rs 8,400 crore to Alpha Alternatives, alongside its approved fundraising plan.

Dilip Buildcon approved fundraising of up to Rs 2,000 crore through NCDs and other instruments, while also approving the sale of projects worth Rs 8,400 crore.

Precision Wires India plans to raise up to Rs 150 crore through debentures and has appointed Krina Parekh as Deputy CFO following CFO Mohandas Pai's retirement.

APAR Industries opened its QIP issue with a floor price of Rs 14,801.25 per share, putting the fundraising process in focus.

Lupin received US FDA approval for Sodium Zirconium Cyclosilicate, a drug used to treat hyperkalemia.

Jupiter Wagons has secured orders worth Rs 211 crore from JSW Port Logistics and Orissa Alloy Steel, adding a fresh order-flow trigger for the railway equipment maker.

BEL has secured orders worth Rs 541 crore since July 31, adding to the company's order flow update.

JSW Energy has added 1,166 MW of renewable capacity and 300 MW of inorganic thermal capacity since April, taking operational capacity to 14,920 MW.

• IRB Infra reported a 26% year-on-year increase in July toll revenue, providing a monthly operating update for the road infrastructure company.
• July toll revenue up 26% at Rs. 798 crore YoY.

JSW Steel reported higher total and India steel production in July, while production from its US operations declined year on year.

JSW Steel YoY

• Total steel production up 3% at 24 lakh tonnes versus 23.3 lakh tonnes.
• India production up 4% at 23.4 lakh tonnes versus 22.6 lakh tonnes.
• US operations production down 13% at 0.6 lakh tonnes versus 0.7 lakh tonnes.

Mahindra & Mahindra reported double-digit growth in July production, sales and exports, providing an early monthly operating update for the auto sector.

Mahindra & Mahindra YoY

• July production up 20% at 1,01,954 units.
• July sales up 25% at 1,02,710 units
• July exports up 47% at 4,159 units

PC Jeweller reported double-digit growth in revenue, EBITDA and net profit in the June quarter, with EBITDA margin expanding year on year.

PC Jeweller (Q1 FY27, Consolidated YoY)

• Revenue up 21% to Rs. 877 crore versus Rs. 725 crore.
• EBITDA up 90% to Rs. 242 crore versus Rs. 127 crore.
• EBITDA margin at 27.5% versus 17.6%.
• Net profit up 37.2% to Rs. 222 crore versus Rs. 162 crore.

PC Jeweller approved fundraising of up to Rs 1,000 crore through a qualified institutional placement, adding a capital-raising trigger to the stock.

SAIL said it is evaluating multiple fundraising options, including a qualified institutional placement and a follow-on public offer.

Brokerages highlighted softer margins and execution issues at Bharat Forge, while maintaining expectations for growth from exports and defence.

Jefferies

• Cut FY27-29 EPS by 4-16% on softer margins, some delay in execution of gun order, and higher capex

Goldman Sachs

• Q1 miss: Manpower shortages US PMT plant shutdown impacts profitability

Citi

• Q1 Results Slightly Below Estimates Due to Escalated Input and Energy Costs
• Acknowledge improving exports and better margins in the Indian subsidiaries

Bharat Forge drew mixed brokerage views, with Jefferies and Morgan Stanley retaining positive ratings while Goldman Sachs and Citi remained more cautious.

Jefferies

• Maintain Buy with TP of Rs 2500
• Cut FY27-29 EPS by 4-16% on softer margins, some delay in execution of gun order, and higher capex
• Still expect 30% EPS CAGR over FY26-29, led by rebound in exports and ramp-up of defense

Morgan Stanley

• Maintain Overweight; Hike TP to Rs 2469 from Rs 2233
• Q1 was hit by issues that are transitory
• Improvement in defence margins and increase in capex to capture upcoming manufacturing opportunities

Goldman Sachs

• Maintain Neutral with TP of Rs 2120
• Q1 miss: Manpower shortages US PMT plant shutdown impacts profitability
• See improving profitability and visibility on Defense and other adjacent businesses

Citi

• Maintain Sell; Hike TP to Rs 1210 from Rs 1060
• Q1 Results Slightly Below Estimates Due to Escalated Input and Energy Costs
• Demand Outlook Is Positive

Citi retained its Sell rating on Zee Entertainment while raising its target price to Rs 80 from Rs 75, citing the need for advertising recovery to support margins.

Citi

• Maintain Sell; Hike TP to Rs 80 from Rs 75
• Sports Drives Reach; Ad Recovery Critical For Margin Expansion
• Return to sports via FIFA and other football properties could be strategically positive
• Remain cautious given weak ad trends, rising investments and competitive intensity
• Will monitor execution in sports

Zee Entertainment reported higher revenue but lower EBITDA and net profit in the June quarter, while advertising revenue declined year on year.

Zee Entertainment (Q1 FY27, Consolidated YoY)

• Revenue up 4.5% to Rs. 1,908 crore versus Rs. 1,825 crore.
• EBITDA down 57.7% to Rs. 101 crore versus Rs. 239 crore.
• EBITDA margin at 5.3% versus 13.1%.
• Net profit down 47% to Rs. 76 crore versus Rs. 144 crore.
• Ad revenue down 12% to Rs. 671 crore versus Rs. 759 crore.
• Subscription revenue up 16% YoY to Rs. 1,137 crore.

Brokerages differed on Info Edge, with Citi raising its target to Rs 1,510, BofA raising its target to Rs 1,400 and Macquarie retaining Neutral with a Rs 1,000 target.

BofA

• Maintain Neutral; Hike TP to Rs 1400 from Rs 1330
• Q1: Steady quarter; Improving hiring trends likely to sustain
• 5% EBITDA beat vs Street; Business momentum improving
• Premium segment & newer AI initiatives aiding Naukri

Citi

• Maintain Buy; Hike TP to Rs 1510 from Rs 1400
• Several accelerants in recruitment billings
• Near-term, GCCs, better pricing power, and improved jobseeker monetization are supportive

Macquarie

• Maintain Neutral with TP of Rs 1000
• Recruitment revenue growth trails Billings
• Continue to see the risk of AI slowing velocity of jobs
• This will lead to a softer medium-term Billings/Revenue growth outlook
• See potential downside risk to consensus mid-teen revenue growth forecast

Citi retained its Buy rating on Info Edge and raised its target price to Rs 1,510 from Rs 1,400, citing improving recruitment billings and pricing power.

Citi

• Maintain Buy; Hike TP to Rs 1510 from Rs 1400
• Several accelerants in recruitment billings
• Near-term, GCCs, better pricing power, and improved jobseeker monetization are supportive
• Medium-term, premiumization in white collar jobs market should drive ARPU-led growth
• Long term, traction in the value segment (JobHai) and India/global jobs macro will be key

Vodafone Idea reported higher revenue and EBITDA sequentially, while the reported net loss reflected a sharp change in one-time gains.

Vodafone Idea (Q1 FY27, Consolidated QoQ)

• Revenue up 3.2% to Rs. 11,689 crore versus Rs. 11,332 crore.
• EBITDA up 3% to Rs. 5,034 crore versus Rs. 4,889 crore.
• EBITDA margin at 43.06% versus 43.14%.
• Net loss at Rs. 3,754 crore versus profit of Rs. 51,970 crore.
• One-time gain at Rs. 1,611 crore versus Rs. 57,491 crore.

JPMorgan retained its Underweight rating on Vodafone Idea with a Rs 9 target, while noting positive subscriber additions and the importance of bank funding.

JPMorgan

• Maintain Underweight with TP of Rs 9
• Net subs adds return to positive territory for the first time since merger
• ARPU growth was helped by seasonality (1 extra day)
• Bank funding remains crucial
• Capex declined 16% QoQ and came below estimates

• Options positioning for the August 11 expiry shows maximum Call open interest at 24,600, while the highest Put open interest is at 24,500.
• Nifty Options 11th Aug Expiry: Maximum Call open interest at 24,600 and Maximum Put open interest at 24,500.

• Nifty August futures were trading at a premium to the cash market ahead of the session, indicating the key index futures setup.
• Nifty Aug futures is up 0.03% to 24,662 at a premium of 79 points.

Gland Pharma reported higher revenue, EBITDA and net profit in the June quarter, with EBITDA margin also improving year on year.

Gland Pharma (Q1 FY27, Consolidated YoY)

• Revenue up 19.6% to Rs. 1,800 crore versus Rs. 1,506 crore.
• EBITDA up 32.8% to Rs. 489 crore versus Rs. 368 crore.
• EBITDA margin at 27.2% versus 24.4%.
• Net profit up 47% to Rs. 317 crore versus Rs. 216 crore.

Jefferies upgraded Gland Pharma to Buy from Hold and raised its target price to Rs 3,350 from Rs 2,080, citing improving US growth and signs that key challenges are easing.

Jefferies

• Upgrade to Buy from Hold
• Target price raised to Rs 3350 from Rs 2080
• Delivered a strong beat vs estimate, driven by 32% YoY growth in key US market
• FY27 growth can potentially reach 15% (cc) from earlier guidance of 12-13%
• Signed one major CDMO contract and in-licensed a large total addressable market differentiated product
• Sees Cenexi breakeven, new contract wins and expansion into complex products

S&P 500 futures traded marginally lower and Nasdaq-100 futures were near flat. Dow futures declined 37 points after the S&P 500 closed little changed on Monday amid uncertainty in the Middle East.

• US President Donald Trump told Axios that Washington was “only semi-negotiating” with Tehran and could maintain pressure through its naval blockade instead of launching another round of airstrikes.
• Iran said it was working with Oman on an arrangement to facilitate shipping through the Strait of Hormuz. Iranian Foreign Minister Abbas Araghchi said direct talks could not resume unless Washington complied with the June agreement and compensated Tehran for alleged breaches, according to Tasnim News Agency.

• Crude oil prices rose about 5% on Monday as expectations of a near-term US-Iran agreement to reopen the Strait of Hormuz weakened.
• West Texas Intermediate settled near $82.13 a barrel, while Brent crude ended around $87.72.

• Japan’s Nikkei 225 rose 2.08%, while Australia’s ASX 200 gained 0.20%. South Korea’s Kospi declined 0.96% and China’s Shanghai Composite slipped 0.01%.
• Investors assessed developments in the Middle East and the outlook for shipping through the Strait of Hormuz after oil prices rose in the previous session.

The GIFT Nifty, an early indicator of Nifty 50's performance, traded at 24,621.50.