Stock Market Today Live: GIFT Nifty Points To Muted Open For Nifty, Sensex; Brent Crude Holds Near $79 A Barrel

• Cohance Lifesciences' Pashamylaram facility received five Form 483 observations following an inspection by the US Food and Drug Administration.
• The regulatory development comes alongside the company's June-quarter earnings and could keep the pharmaceutical services company on traders' radar.

Cohance Lifesciences drew sharply different brokerage calls after a weak June quarter, even as management expects performance to recover.

Macquarie

• Maintain Outperform with target price of Rs 1,150.
• Q1 performance was materially weaker than expected.
• Revenue declined mainly because of contraction in the Pharma CDMO segment.
• Management expects sequential recovery in Q2 and a return to year-on-year growth in H2.

Jefferies

• Maintain Underperform; raise target price to Rs 350 from Rs 300.
• Results were below estimates as sales declined across all three business divisions.
• Low sales pushed Ebitda close to break-even.
• Sees challenges across divisions and lacks confidence in sustainable near-term growth.

Cohance Lifesciences reported a loss for the June quarter as revenue declined and Ebitda fell to near break-even levels.

Cohance Lifesciences (Q1, Consolidated YoY)

• Net loss at Rs 24.1 crore versus profit of Rs 48.9 crore.
• Revenue down 23.1% at Rs 422 crore versus Rs 549 crore.
• Ebitda down 99% at Rs 1.2 crore versus Rs 112 crore.
• Margin at 0.3% versus 20.4%.

Brokerages differed on PB Fintech's valuation after its June-quarter performance, with target prices ranging from Rs 1,215 to Rs 1,950.

Macquarie

• Maintain Outperform with target price of Rs 1,950.
• Revenue growth remained strong and profitability was in line.
• Renewal business and new initiatives remain on track.

Nomura

• Maintain Neutral with target price of Rs 1,590.
• Q1 beat estimates by 10%.
• Policybazaar and other insurance platforms saw improvement in take rates and contribution margins.
• Paisabazaar's core disbursals picked up, with new product launches planned for August 2026.
• Regulation remains a risk.

Morgan Stanley

• Maintain Underweight with target price of Rs 1,215.
• Adjusted Ebitda margin was in line, while higher revenue drove an adjusted Ebitda beat.
• Flagged valuation and potential regulation on commissions.

PB Fintech reported higher revenue, Ebitda and net profit for the June quarter, with operating margin expanding from the year-ago period.

PB Fintech (Q1, Consolidated YoY)

• Net profit up 91.7% at Rs 163 crore versus Rs 85 crore.
• Revenue up 40% at Rs 1,888 crore versus Rs 1,348 crore.
• Ebitda at Rs 139 crore versus Rs 34 crore.
• Margin at 7.4% versus 2.5%.

Oil India received relief in a long-running Assam land tax dispute after the Supreme Court disposed of the case following the state's decision to withdraw the levy on mineral oil. The disputed demand stood at about Rs 2,484.81 crore for 2005–2024.

The Supreme Court separately directed Oil India to deposit GST on royalty within six weeks.

Cummins India's margin performance has emerged as the key issue for analysts after its June-quarter earnings, while JPMorgan also flagged the managing director's resignation.

JPMorgan

• Maintain Neutral with target price of Rs 5,882.
• Q1FY27 margins were the lowest in the past 10 quarters.
• The brokerage said weak margins and the MD's resignation could weigh on the stock.

Citi

• Maintain Buy with target price of Rs 6,700.
• Margins were below expectations.
• Commodity headwinds and delays in passing through costs had a larger impact.
• Awaits clarity on possible one-off expenditure.

HSBC

• Maintain Buy with target price of Rs 6,500.
• Margin pressure led to an earnings miss.
• Lower margins offset strong execution.
• Management commentary indicated steady momentum across key markets.

Cummins India reported revenue growth in the June quarter, but Ebitda and profit declined as operating margin contracted. Managing Director Shveta Arya has also resigned.

Cummins India (Q1, YoY)

• Net profit down 7.8% at Rs 543 crore versus Rs 589 crore.
• Revenue up 17.5% at Rs 3,426 crore versus Rs 2,916 crore.
• Ebitda down 2.5% at Rs 617 crore versus Rs 633 crore.
• Margin at 18% versus 21.7%

Navin Fluorine International reported higher revenue, Ebitda and profit for the June quarter, while the board also approved fresh capital expenditure for advanced materials.

Navin Fluorine (Q1, Consolidated YoY)

• Revenue up 44% at Rs 1,045 crore versus Rs 725 crore.
• Ebitda up 72.6% at Rs 357 crore versus Rs 207 crore.
• Margin at 34.2% versus 28.5%.
• Net profit at Rs 243 crore versus Rs 117.1 crore.

Separately, the board approved Rs 90 crore capex for advanced material products.

• US President Donald Trump has spoken with Federal Reserve Chair Kevin Warsh several times since Warsh took charge, The Wall Street Journal reported, citing people familiar with the matter.
• Trump has sought Warsh’s views on the economic impact of the Iran war and the growth of artificial intelligence, according to the report.

• The Trump administration plans to impose a 15% tariff on polysilicon derivatives and set minimum import prices for polysilicon, wafers, solar cells and modules, Reuters reported quoting sources familiar with the matter.
• The measures, expected to be announced as early as Thursday, are aimed at countering China’s role in the solar panel and semiconductor supply chains.

• Iran said it had reached an agreement with Oman on a proposed route for vessels using the Strait of Hormuz. The arrangement could allow more energy shipments through the waterway.
• Investors are assessing whether the plan will lead to a sustained increase in vessel traffic and support progress towards a wider agreement between Iran and the US.

• The Dow Jones Industrial Average rose 263.24 points, or 0.49%, to a record close, extending gains for a fifth consecutive session.
• The S&P 500 fell 0.17%, ending a four-session winning streak, while the Nasdaq Composite declined 0.83%.

Dow futures rose 92 points, or 0.2%, while S&P 500 futures gained 0.2%. Nasdaq-100 futures edged lower as investors awaited the next round of corporate earnings.

Brent crude traded near $79 per barrel, while West Texas Intermediate held around $75. Oil prices have fallen about 11% over the first three sessions of the week as prospects of increased shipping through the Strait of Hormuz eased supply concerns.

• South Korea’s Kospi fell 2.05%, while Japan’s Nikkei 225 declined 1.46%. Australia’s ASX 200 gained 0.64%.
• Investors monitored efforts to restore shipping through the Strait of Hormuz and assessed an uneven session on Wall Street.

GIFT Nifty traded at 24,643, about 18 points above the Nifty 50’s Wednesday close of 24,624.65.