Stock Market Crash News Live Updates: GIFT Nifty Points To Negative Open For Nifty, Sensex; Brent Crude Surges Above $91 A Barrel

Jefferies retained its Buy rating on KEI Industries and raised its target price to Rs 6,920 from Rs 6,150.

Jefferies on KEI Industries

• Rating: Buy.
• Target price raised to Rs 6,920 from Rs 6,150.
• Jefferies lists KEI among its top picks in defence and T&D equipment.

Jefferies retained its Hold rating on Siemens and raised its target price to Rs 4,415 from Rs 4,000.

Jefferies on Siemens

• Rating: Hold.
• Target price raised to Rs 4,415 from Rs 4,000.
• Power equipment players are driving margin improvement.
• Jefferies remains positive on defence and T&D equipment.

Citi said power infrastructure capex remains broad-based but highlighted grid connectivity, land and equipment availability as key execution constraints.

Citi on India Industrials

• Capex remains broad-based across generation, storage, transmission and distribution.
• Grid connectivity, land and equipment availability remain key execution constraints.

Citi said defence demand is supported by a broad-based programme pipeline, with procurement expanding into newer technology areas.

Citi on India Industrials

• Defence procurement is widening into electronic warfare, autonomous systems and counter systems.
• Some demand should gradually become recurring as the installed base expands.
• Services and lifecycle support could therefore become more important.

JPMorgan maintained its Neutral rating on Colgate with a Rs 2,250 target, highlighting premiumisation and a broader volume, price and mix strategy.

JPMorgan on Colgate

• Rating: Neutral.
• Target price: Rs 2,250.
• Premiumisation is the biggest growth lever.
• Growth is expected to be balanced across volume, price and mix.
• Margins are likely to moderate in the near term.
• Growth needs to be balanced against margins.

Goldman Sachs retained its Sell rating on Colgate with a Rs 2,050 target, with premiumisation remaining the key growth driver.

GS on Colgate

• Rating: Sell.
• Target price: Rs 2,050.
• Sales growth is expected to come from premiumisation and higher volume consumption.
• Premiumisation is the most important growth vector.
• Innovation and marketing spends are being accelerated.
• Gross margin is expected to remain defended in a band.
• EBITDA is likely to be lower as ad spends are increased.
• No immediate visibility of portfolio expansion beyond toothpaste

Citi retained its Sell rating on Colgate with a Rs 2,000 target as the company prioritises growth while facing a margin trade-off.

Citi on Colgate

• Rating: Sell.
• Target price: Rs 2,000.
• Significant runway remains to increase oral-care consumption.
• Growth is expected to become more balanced across volume, price and mix.
• Premiumisation remains the key growth engine.
• Growth is being prioritised over near-term margin expansion.

Nuvama downgraded BSE to Hold from Buy and cut its target price to Rs 3,240 from Rs 4,090, citing changes in expiry-day trading dynamics.

Nuvama on BSE

• Rating: Hold, downgraded from Buy.
• Target price cut to Rs 3,240 from Rs 4,090.
• CAS has reset volumes and impaired expiry-day decay trading dynamics.
• Bank guarantee norms are the second leg.
• Market share gains are nearing saturation.
• FY27/FY28 EPS estimates cut by 6.3%/15%.
• Consensus estimates could see a reset after Q2 earnings.

Jefferies retained its Buy rating on Hindustan Aeronautics and raised its target price to Rs 6,800 from Rs 6,300.

Jefferies on Hindustan Aeronautics

• Rating: Buy.
• Target price raised to Rs 6,800 from Rs 6,300.
• Jefferies remains positive on defence and T&D equipment.
• Top picks include Siemens Energy, Hitachi Energy, Hindustan Aeronautics, L&T and KEI.

Jefferies retained its Buy rating on BEL but cut its target price to Rs 490 from Rs 550 as it reviewed defence and power equipment companies.

Jefferies on BEL

• Rating: Buy.
• Target price cut to Rs 490 from Rs 550.
• Jefferies remains positive on defence and T&D equipment.
• Power equipment players are driving a margin uptick.

Jefferies retained its Buy rating on Belrise and raised its target price to Rs 280 from Rs 250, citing new order traction and an expanding footprint.

Jefferies on Belrise

• Rating: Buy.
• Target price raised to Rs 280 from Rs 250.
• Cost pressures are behind the company.
• Jefferies remains sanguine on the full-year margin.
• New order traction is good.
• Company is expanding beyond autos.

Citi maintained its Buy rating on Akums Drugs and raised its target price to Rs 860 from Rs 610 as earnings quality improves on CDMO strength.

Citi on Akums Drugs

• Rating: Buy.
• Target price raised to Rs 860 from Rs 610.
• Domestic CDMO remains the key growth driver.
• Other segments remain subdued.
• FY27E/FY28E EPS estimates raised by 5%/10% on a more constructive API pricing outlook.

Jefferies retained its Buy rating on Radico Khaitan and raised its target price to Rs 5,200, citing premiumisation in the alcobev industry.

Jefferies on Radico Khaitan

• Rating: Buy.
• Target price: Rs 5,200.
• Alcobev industry entering a multi-year premiumisation cycle.
• Premiumisation is most evident in vodka, where Radico is the market leader.
• Strong innovation and execution, along with a supportive regulatory environment, should support growth.
• Premium mix and India-UK FTA benefits are expected to drive margin expansion.

Citi raised its Nifty target to 26,800 for June 2027 from 26,000 earlier and added Axis Bank to its top large-cap picks.

Citi India Strategy

• Nifty target raised to 26,800 from 26,000.
• Axis Bank added to top large-cap picks.
• Overweight: Financials, Telecom, Healthcare, Utilities.
• Underweight: IT Services, Staples, Metals.
• Citi said first-quarter earnings were better than expected and the outlook remains decent.
• The brokerage flagged margin pressure in Consumer, Industrial and Financial sectors.
• It remains focused on demand resilience after the benefits of GST cuts recede.

• US President Donald Trump said he would not extend the 60-day agreement with Tehran after it expired on Monday. He also threatened military action against Oman.
• Trump said informal talks were under way with Iran’s Revolutionary Guard but indicated that he was not seeking an immediate settlement.

South Korea’s Kospi rose 3.04% as trading resumed after a holiday. Japan’s Nikkei 225 fell 0.38%, while Australia’s ASX 200 was almost unchanged, up 0.01%.

The Dow Jones Industrial Average and S&P 500 fell 0.5% each, while the Nasdaq Composite declined 0.3%.

Dow futures slipped 25 points in early Asian trade. S&P 500 and Nasdaq-100 futures were marginally lower.

Brent crude rose above $91 a barrel after closing at its highest level since late July. West Texas Intermediate traded near $85 as expectations of a quick resolution to the conflict weakened.

GIFT Nifty traded at 24,317.50, indicating the likely opening trend for the Nifty 50.