< -5%

-5% to -3%

NIBE

-3% to 0%

Global Vectra

Data Patterns

Bharat Dynamics

Rossell Techsys

C2C Advanced

Taal Tech

Flysbs Aviation

Taneja Aerospac

Bharat Elec

Interglobe Avi

Hindustan Aeron

SpiceJet

0% to 3%

Axiscades Tech

Azad Eng

MTAR Tech

Apollo Micro Sy

Jaykay Ent

3% to 5%

Sika Interplant

Unimech Aerospa

Nifty Bank index up 1%, SBI jumps 7% to 52-week high, SBI posted record quarterly profit and 9% YoY growth in net interest income., Key support for Bank Nifty is 59,800; resistance at 60,500 and 61,000 levels

* Nifty Bank index up 1%, SBI jumps 7% to 52-week high
* SBI posted record quarterly profit and 9% YoY growth in net interest income.
* Key support for Bank Nifty is 59,800; resistance at 60,500 and 61,000 levels

Nifty Bank index rose over 1% led by SBI, which hit a 52-week high after strong Q3 results. Analysts highlight 59,800 as key support and 60,500 as resistance. Other banks saw mixed gains, while some traded in the red amid ongoing market volatility.

shorts/business/bank-nifty-nears-61-000-as-sbi-shares-rally-7-after-strong-q3-results-check-key-levels

* Nifty Bank index up 1%, SBI jumps 7% to 52-week high
* SBI posted record quarterly profit and 9% YoY growth in net interest income.
* Key support for Bank Nifty is 59,800; resistance at 60,500 and 61,000 levels

The <a href="https://www.moneycontrol.com/indian-indices/NIFTY-BANK-23.html">Nifty Bank</a> index rose more than 1 percent on February 9, with the shares of heavyweight SBI leading gains. Analysts have highlighted key levels to watch out for the banking index.

The Nifty Bank index rose 756 points to 60,876.20 on Monday, extending gains for the second consecutive session.
<h3><strong>Why are SBI shares rallying today?</strong></h3>
State Bank of India (SBI) shares were the top gainers on the index, rallying 7 percent to hit a fresh 52-week high of Rs 1,143.70 apiece. This came after the public lender’s Q3 results surpassed expectations. Several brokerages raised their target prices for the stock.

<a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/statebankindia/SBI">SBI</a> on February 7 reported a 24.49 percent year-on-year (YoY) rise in net profit after minority interest at Rs 21,028.15 crore for the October-December quarter of the ongoing financial year 2026. This is the highest-ever quarterly net profit reported by the banking behemoth.

The <a href="https://www.moneycontrol.com/news/business/markets/sbi-shares-jump-7-to-record-high-after-lender-posts-highest-ever-quarterly-profit-in-q3-brokerages-raise-target-prices-13818276.html">public lender’s net interest income (NII)</a> meanwhile grew 9 percent YoY to Rs 45,190 crore during the quarter under review from Rs 41,445 crore in the year-ago period, reflecting steady growth in core lending income.

SBI shares were among the top gainers on benchmark indices Sensex and Nifty, as well the <a href="https://www.moneycontrol.com/indian-indices/nifty-psu-bank-43.html">Nifty PSU Bank</a> index which itself was up more than 3 percent.
<h3><strong>Other bank stocks:</strong></h3>
<a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/indusindbank/IIB">IndusInd Bank</a> shares meanwhile gained 2.5 percent, as seen at 2.30 pm, while <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/kotakmahindrabank/KMB">Kotak Mahindra Bank</a>, Yes Bank, Union Bank of India and AU Small Finance Bank shares gained more than 1 percent each.

Bank of Baroda and <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/punjabnationalbank/PNB05">Punjab National Bank</a> (PNB) shares gained around 1 percent each, while Canara Bank and <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/axisbank/AB16">Axis Bank</a> shares were trading in the green with marginal gains. Bucking the trend, Federal Bank, IDFC First Bank, <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/hdfcbank/HDF01">HDFC Bank</a> and <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/icicibank/ICI02">ICICI Bank</a> shares were trading in the red with marginal losses.
<h3><strong>Key levels to watch out for:</strong></h3>
Bank Nifty ended the previous week on a strong note despite heightened volatility driven by major macro events, including the Union Budget 2026, US–India trade developments, and the RBI’s MPC meeting.

Technically, the index displayed strength by sustaining above the key psychological resistance of 60,000, indicating improving market confidence and structural support formation, said Aakash Shah, Technical Research Analyst at Choice Broking. He however added that a failure to hold above 59,800 could trigger a corrective move toward the 59,600–59,400 zone, with the risk of further downside extension if selling pressure intensifies.

“On the upside, immediate resistance is placed at 60,500, followed by 61,000 and 61,400. The weekly RSI at 55.99 suggests moderate bullish momentum with scope for further upside without overbought conditions. Nevertheless, Bank Nifty continues to trade below its 20-day, 50-day, and 200-day EMAs, indicating overhead supply and a broader trend that has not yet turned decisively bullish,” he said.

A sustained close above 60,500 would reaffirm bullish momentum, while failure to hold this level may invite short-term weakness, the analyst explained. He advised that traders should remain constructive yet disciplined, closely monitoring 59,800 as key support and 60,500 as critical resistance for directional cues.

According to Shrikant Chouhan, Head Equity Research at Kotak Securities, the 50 and 20-day SMAs at 59,500 would be key support zones for Bank Nifty. Above these levels, the index could retest 60,500 and 61,000-61,300. On the flip side, below 59,500, sentiment could change.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-gap-up-start-us-asian-markets-gain-liveblog-13817633.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

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Bank Nifty nears 61,000 as SBI shares rally 7% after strong Q3 results: Check key levels

The Nifty Bank index rose more than 1 percent on February 9, with the shares of heavyweight SBI leading gains. Analysts have highlighted key levels to watch out for the banking index.

The Nifty Bank index rose 756 points to 60,876.20 on Monday, extending gains for the second consecutive session.
Why are SBI shares rallying today?
State Bank of India (SBI) shares were the top gainers on the index, rallying 7 percent to hit a fresh 52-week high of Rs 1,143.70 apiece. This came after the public lender’s Q3 results surpassed expectations. Several brokerages raised their target prices for the stock.

SBI on February 7 reported a 24.49 percent year-on-year (YoY) rise in net profit after minority interest at Rs 21,028.15 crore for the October-December quarter of the ongoing financial year 2026. This is the highest-ever quarterly net profit reported by the banking behemoth.

The public lender’s net interest income (NII) meanwhile grew 9 percent YoY to Rs 45,190 crore during the quarter under review from Rs 41,445 crore in the year-ago period, reflecting steady growth in core lending income.

SBI shares were among the top gainers on benchmark indices Sensex and Nifty, as well the Nifty PSU Bank index which itself was up more than 3 percent.
Other bank stocks:
IndusInd Bank shares meanwhile gained 2.5 percent, as seen at 2.30 pm, while Kotak Mahindra Bank, Yes Bank, Union Bank of India and AU Small Finance Bank shares gained more than 1 percent each.

Bank of Baroda and Punjab National Bank (PNB) shares gained around 1 percent each, while Canara Bank and Axis Bank shares were trading in the green with marginal gains. Bucking the trend, Federal Bank, IDFC First Bank, HDFC Bank and ICICI Bank shares were trading in the red with marginal losses.
Key levels to watch out for:
Bank Nifty ended the previous week on a strong note despite heightened volatility driven by major macro events, including the Union Budget 2026, US–India trade developments, and the RBI’s MPC meeting.

Technically, the index displayed strength by sustaining above the key psychological resistance of 60,000, indicating improving market confidence and structural support formation, said Aakash Shah, Technical Research Analyst at Choice Broking. He however added that a failure to hold above 59,800 could trigger a corrective move toward the 59,600–59,400 zone, with the risk of further downside extension if selling pressure intensifies.

“On the upside, immediate resistance is placed at 60,500, followed by 61,000 and 61,400. The weekly RSI at 55.99 suggests moderate bullish momentum with scope for further upside without overbought conditions. Nevertheless, Bank Nifty continues to trade below its 20-day, 50-day, and 200-day EMAs, indicating overhead supply and a broader trend that has not yet turned decisively bullish,” he said.

A sustained close above 60,500 would reaffirm bullish momentum, while failure to hold this level may invite short-term weakness, the analyst explained. He advised that traders should remain constructive yet disciplined, closely monitoring 59,800 as key support and 60,500 as critical resistance for directional cues.

According to Shrikant Chouhan, Head Equity Research at Kotak Securities, the 50 and 20-day SMAs at 59,500 would be key support zones for Bank Nifty. Above these levels, the index could retest 60,500 and 61,000-61,300. On the flip side, below 59,500, sentiment could change.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Textile stocks rose as US agreed to reduce tariffs to 18%., Gokaldas Exports, Arvind, Raymond Lifestyle, K.P.R. Mill shares surged in trade, India-US interim trade deal aims for balanced, reciprocal market access

* Textile stocks rose as US agreed to reduce tariffs to 18%.
* Gokaldas Exports, Arvind, Raymond Lifestyle, K.P.R. Mill shares surged in trade
* India-US interim trade deal aims for balanced, reciprocal market access

Export-oriented textile stocks surged after India and the US announced a framework for an interim trade deal, reducing US tariffs on Indian exports to 18%. The move is expected to boost companies like Gokaldas Exports, Arvind, Raymond Lifestyle, and K.P.R. Mill.

shorts/business/gokaldas-exports-other-textile-stocks-jump-up-to-7-after-india-us-interim-trade-framework-confirms-tariff-reduction-to-18

* Textile stocks rose as US agreed to reduce tariffs to 18%.
* Gokaldas Exports, Arvind, Raymond Lifestyle, K.P.R. Mill shares surged in trade
* India-US interim trade deal aims for balanced, reciprocal market access

The shares of export-oriented textile stocks jumped in trade on February 9 after India and US announced a framework for their much-awaited interim trade deal agreement, which confirmed that the US tariffs on Indian exports would be reduced to 18 percent.

<a href="https://www.moneycontrol.com/india/stockpricequote/textiles-readymade-apparels/gokaldasexports/GE05">Gokaldas Exports</a> shares jumped 6.5 percent to trade at Rs 832.1 apiece, while <a href="https://www.moneycontrol.com/india/stockpricequote/textiles-denim/arvind/A18">Arvind</a> shares surged around 7 percent to trade at Rs 393.90 apiece. <a href="https://www.moneycontrol.com/india/stockpricequote/textilesapparel/raymondlifestyle/RLL01">Raymond Lifestyle</a> shares rose nearly 5 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/textiles-readymade-apparels/kprmill/M15">K.P.R. Mill</a> shares gained around 4 percent.
<h3><strong>India-US trade deal framework:</strong></h3>
India and US on February 6 released a framework for an interim agreement regarding reciprocal and mutually beneficial trade (Interim Agreement). "Today's framework reaffirms the countries’ commitment to the broader U.S.-India Bilateral Trade Agreement (BTA) negotiations, launched by President Donald J. Trump and Prime Minister Narendra Modi on February 13, 2025, which will include additional market access commitments and support more resilient supply chains," the countries said in a joint statement.

India and US said that their interim agreement will represent a "historic milestone" in their partnership, which would demonstrate a common commitment to reciprocal and balanced trade based on mutual interests and concrete outcomes.

According to the framework, US agreed to reduce its tariffs on Indian exports of textile and apparel, leather and footwear, plastic and rubber, organic chemicals, home décor, artisanal products, and certain machinery to 18 percent. Subject to the successful conclusion of the Interim Agreement.

This move is expected to bring major relief to these export-oriented companies, whose stocks earlier had seen significant decline after US hiked tariffs on Indian exports to 50 percent, citing New Delhi’s continued purchase of Russian oil.

Separately, US President Donald Trump in an executive order removed the additional 25% tariff imposed on Indian goods for Russian oil purchases as New Delhi "committed to stop directly or indirectly importing" Russian oil.

"The United States and India will work towards further expanding market access opportunities through the negotiations of the BTA. The United States affirms that it intends to take into consideration, during the negotiations of the BTA, India’s request that the United States continue to work to lower tariffs on Indian goods," the framework released by the two companies further said.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-gap-up-start-us-asian-markets-gain-liveblog-13817633.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Gokaldas Exports, other textile stocks jump up to 7% after India-US interim trade framework confirms tariff reduction to 18%

The shares of export-oriented textile stocks jumped in trade on February 9 after India and US announced a framework for their much-awaited interim trade deal agreement, which confirmed that the US tariffs on Indian exports would be reduced to 18 percent.

Gokaldas Exports shares jumped 6.5 percent to trade at Rs 832.1 apiece, while Arvind shares surged around 7 percent to trade at Rs 393.90 apiece. Raymond Lifestyle shares rose nearly 5 percent, while K.P.R. Mill shares gained around 4 percent.
India-US trade deal framework:
India and US on February 6 released a framework for an interim agreement regarding reciprocal and mutually beneficial trade (Interim Agreement). &quot;Today's framework reaffirms the countries’ commitment to the broader U.S.-India Bilateral Trade Agreement (BTA) negotiations, launched by President Donald J. Trump and Prime Minister Narendra Modi on February 13, 2025, which will include additional market access commitments and support more resilient supply chains,&quot; the countries said in a joint statement.

India and US said that their interim agreement will represent a &quot;historic milestone&quot; in their partnership, which would demonstrate a common commitment to reciprocal and balanced trade based on mutual interests and concrete outcomes.

According to the framework, US agreed to reduce its tariffs on Indian exports of textile and apparel, leather and footwear, plastic and rubber, organic chemicals, home décor, artisanal products, and certain machinery to 18 percent. Subject to the successful conclusion of the Interim Agreement.

This move is expected to bring major relief to these export-oriented companies, whose stocks earlier had seen significant decline after US hiked tariffs on Indian exports to 50 percent, citing New Delhi’s continued purchase of Russian oil.

Separately, US President Donald Trump in an executive order removed the additional 25% tariff imposed on Indian goods for Russian oil purchases as New Delhi &quot;committed to stop directly or indirectly importing&quot; Russian oil.

&quot;The United States and India will work towards further expanding market access opportunities through the negotiations of the BTA. The United States affirms that it intends to take into consideration, during the negotiations of the BTA, India’s request that the United States continue to work to lower tariffs on Indian goods,&quot; the framework released by the two companies further said.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Vodafone Idea shares jumped nearly 5 percent after Birla bought more stake, Emkay Global upgraded Vodafone Idea to 'Add' and raised its target price to Rs 12., Government-approved moratorium eases VI's AGR liabilities, aiding cash flow

* Vodafone Idea shares jumped nearly 5 percent after Birla bought more stake
* Emkay Global upgraded Vodafone Idea to 'Add' and raised its target price to Rs 12.
* Government-approved moratorium eases VI's AGR liabilities, aiding cash flow

Vodafone Idea shares rose nearly 5% after Kumar Mangalam Birla bought 4.09 crore shares. Emkay Global upgraded the stock to 'Add' and doubled its target price, citing government relief on AGR dues and improved cash flow, but noted risks remain.

shorts/business/vodafone-idea-shares-jump-5-after-kumar-mangalam-birla-buys-additional-stake-emkay-doubles-target-price

* Vodafone Idea shares jumped nearly 5 percent after Birla bought more stake
* Emkay Global upgraded Vodafone Idea to 'Add' and raised its target price to Rs 12.
* Government-approved moratorium eases VI's AGR liabilities, aiding cash flow

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/telecommunication-service-provider/vodafoneidea/IC8">Vodafone Idea</a> (Vi) jumped nearly 5 percent on February 9 after data showed that promoter Kumar Mangalam Birla has bought additional stake in the telecom major from the open market. Additionally, Emkay Global upgraded the stock’s rating to ‘Add’ from ‘Sell’, and doubled its target price.

The shares of the company rose to Rs 11.62 apiece on Monday, the highest level seen by the stock since January 9 this year. The stock has now snapped a three-session losing streak.
<h3><strong>Kumar Managalam Birla buys additional stake in Vodafone Idea:</strong></h3>
Kumar Mangalam Birla bought 2.21 crore shares on January 30, and 1.88 crore shares on February 1, according to market data cited by CNBC-TV18. At the previous closing price of Rs 11.12 apiece, the total 4.09 crore shares bought by the industrialist over the two days would be worth around Rs 45,481 crore.

According to the company’s shareholding pattern as on December 31, 2025, Kumar Mangalam Birla owned 0.02 percent stake in the company. Promoter and promoter groups collectively owned 25.57 percent stake in the telco, while the rest of the 74.43 percent stake was held by the general public.
<h3><strong>Emkay Global on Vodafone Idea:</strong></h3>
Emkay Global upgraded the shares of Vodafone Idea to ‘Add’ from ‘Sell’, and doubled its target price to Rs 12 apiece from Rs 6 apiece earlier. The latest target price implies an upside potential of nearly 8 percent from the stock’s previous closing price.

The domestic brokerage noted that the government has approved a major moratorium for VI’s AGR liabilities, with minimal annual payments until FY35.

“We believe this will provide significant cash flow relief and a turnaround opportunity. The relief reduces the net present value (NPV) of the burden by 60–80%, easing immediate survival pressure, along with the possibility of further reduction on reassessment of AGR dues. This will enable VI to access bank funding for 4G/5G expansion, helping the company arrest subscriber churn and market-share loss,” it said.

However, Emkay noted that the key risks to its bullish call include inability to increase subscriber market share, significantly increase ARPU with tariff repair and upgrade the subscriber base from 2G to 4G/5G.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-gap-up-start-us-asian-markets-gain-liveblog-13817633.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Vodafone Idea shares jump 5% after Kumar Mangalam Birla buys additional stake: Emkay doubles target price

The shares of Vodafone Idea (Vi) jumped nearly 5 percent on February 9 after data showed that promoter Kumar Mangalam Birla has bought additional stake in the telecom major from the open market. Additionally, Emkay Global upgraded the stock’s rating to ‘Add’ from ‘Sell’, and doubled its target price.

The shares of the company rose to Rs 11.62 apiece on Monday, the highest level seen by the stock since January 9 this year. The stock has now snapped a three-session losing streak.
Kumar Managalam Birla buys additional stake in Vodafone Idea:
Kumar Mangalam Birla bought 2.21 crore shares on January 30, and 1.88 crore shares on February 1, according to market data cited by CNBC-TV18. At the previous closing price of Rs 11.12 apiece, the total 4.09 crore shares bought by the industrialist over the two days would be worth around Rs 45,481 crore.

According to the company’s shareholding pattern as on December 31, 2025, Kumar Mangalam Birla owned 0.02 percent stake in the company. Promoter and promoter groups collectively owned 25.57 percent stake in the telco, while the rest of the 74.43 percent stake was held by the general public.
Emkay Global on Vodafone Idea:
Emkay Global upgraded the shares of Vodafone Idea to ‘Add’ from ‘Sell’, and doubled its target price to Rs 12 apiece from Rs 6 apiece earlier. The latest target price implies an upside potential of nearly 8 percent from the stock’s previous closing price.

The domestic brokerage noted that the government has approved a major moratorium for VI’s AGR liabilities, with minimal annual payments until FY35.

“We believe this will provide significant cash flow relief and a turnaround opportunity. The relief reduces the net present value (NPV) of the burden by 60–80%, easing immediate survival pressure, along with the possibility of further reduction on reassessment of AGR dues. This will enable VI to access bank funding for 4G/5G expansion, helping the company arrest subscriber churn and market-share loss,” it said.

However, Emkay noted that the key risks to its bullish call include inability to increase subscriber market share, significantly increase ARPU with tariff repair and upgrade the subscriber base from 2G to 4G/5G.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Tata Steel shares hit record high post Q3 results; brokerages raise targets, Q3 net profit up 723% YoY to Rs 2,689.70 crore; revenue rose 6% YoY, Brokerages maintain 'Buy' ratings, raising target prices up to Rs 240 per share

* Tata Steel shares hit record high post Q3 results; brokerages raise targets
* Q3 net profit up 723% YoY to Rs 2,689.70 crore; revenue rose 6% YoY
* Brokerages maintain 'Buy' ratings, raising target prices up to Rs 240 per share

Tata Steel shares surged 5% to a record high after Q3 FY26 results showed a 723% YoY net profit rise to Rs 2,689.7 crore. Brokerages raised target prices, citing strong earnings, improved margins, and positive outlook despite some regional challenges.

shorts/business/tata-steel-shares-jump-5-to-fresh-record-high-as-brokerages-raise-target-prices-after-q3-results-should-you-buy-sell-or-hold

* Tata Steel shares hit record high post Q3 results; brokerages raise targets
* Q3 net profit up 723% YoY to Rs 2,689.70 crore; revenue rose 6% YoY
* Brokerages maintain 'Buy' ratings, raising target prices up to Rs 240 per share

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/ironsteel/tatasteel/TIS">Tata Steel</a> jumped around 5 percent to a fresh a record high on February 9 after the company released its results for the third quarter of FY26. Brokerages raised their target prices for the stock, highlighting in-line earnings of the metal major.

The shares of the Tata Group-company hit a fresh 52-week high of Rs 206.34 apiece on Monday. It is currently among the top gainers on benchmark indices Sensex and Nifty, as well as the more-concentrated Nifty Metal index which itself is up around 2 percent.
<h3><strong>Tata Steel Q3 Results:</strong></h3>
Tata Steel reported a <a href="https://www.moneycontrol.com/news/business/earnings/tata-steel-q3-results-net-profit-surges-723-to-rs-2-690-crore-revenue-up-6-13815264.html">consolidated net profit of Rs 2,689.70 crore</a> for the October-December quarter of FY26 on February 6. This marks a whopping 723 percent YoY rise from the Rs 326.64 crore net profit reported in the same period of last year.

The firm's revenue from operations meanwhile rose more than 6 percent YoY to Rs 56,646.05 crore during the quarter under review.

The metal major's net profit margin improved to 4.79 percent in Q3 FY26, from 0.55 percent in Q3 FY25. Operating EBITDA margin meanwhile rose to 14.58 percent in the third quarter of the ongoing financial year 2026.

Consolidated EBITDA for the quarter, adjusting for forex movements, was Rs 8,276 crore, higher than the Rs 7,155 crore reported in the year prior.

Production and deliveries for its India operations were higher by 12 percent and 14 percent respectively, with the Q3 deliveries of 6.04 million tonne being the first time it has breached the 6 million tonne mark, the management said.
<h3><strong>JM Financial on Tata Steel:</strong></h3>
JM Financial kept its 'Buy' call on the stock, while raising its target price to Rs 240 apiece from Rs 215 apiece earlier. This implies an upside potential of nearly 22 percent from the stock’s previous closing price.

The domestic brokerage said that the company’s consolidated EBTITDA of Rs 8,276 crore was marginally above its estimate of Rs 8,000 crore. "Indian operations spreads continue to trend up in tandem with higher steel prices while the European region awaits CBAM/Quota cut (June) led price hikes to sustain and trickle to margins eventually. The company expects similar Government led ring-fencing in UK ops too. Management stated net debt EBITDA target stands at 3x," it added.

JM Financial revised its earnings upwards for FY27/28 by 12-13 percent and an equivalent increase in target price to factor in an improved steel price outlook across regions.
<h3><strong>Motilal Oswal on Tata Steel:</strong></h3>
Motilal Oswal Financial Services said that Tata Steel’s earnings were broadly in-line with estimates, and the outlook looks bright due to the recent rise in steel prices. “Overall, TATA posted a decent performance in 3QFY26 as anticipated, primarily driven by healthy volume, offset by muted NSR in India. The combined EBITDA in Europe weakened due to muted earnings at the Netherlands operation, while the UK operating loss remained flat QoQ,” it said.

“Though there are near-term uncertainties related to price volatility due to trade barriers (CABM, tariffs, and import quota reduction), the long-term outlook remains strong for TATA. We raise our FY26E earnings (EBITDA by over 2% and PAT by over 3%), fueled by the better volume and NSR outlook. We also marginally raise our EBITDA for FY27E by 2% to reflect the improved outlook on pricing and costs,” it added.

Motilal kept its ‘Buy’ rating on the stock, while raising its target price for the stock to Rs 240 apiece, same as JM Financial.
<h3><strong>PL Capital on Tata Steel:</strong></h3>
PL Capital said that Tata Steel reported a strong operating performance at TSI (India), offsetting weaker TSE performance. “We cut our EBITDA estimates by 4%/1% on higher coking coal assumption and lower TSUK EBITDA and expect EBITDA CAGR of 24% over FY25-28E on the back of strong domestic pricing. At CMP, the stock is trading at 7.3x/6.4x EV of FY27/28E EBITDA. We roll forward to Mar’28 and maintain ‘Accumulate’ rating with revised TP of Rs226 valuing at higher 7.5x EV/TSI EBITDA multiple as TSI would benefit on higher prices along with strong domestic demand, structural cost transformation initiatives and higher European prices would aid faster TSE breakeven,” it said.
<h3><strong>Emkay Global on Tata Steel:</strong></h3>
Emkay Global maintained a ‘Buy’ rating on the stock, an increased its target price by 15 percent to Rs 230 apiece. This implies an upside potential of nearly 17 percent from the stock’s previous closing price.

“Tata Steel’s Q3 consolidated adj EBITDA of Rs82.7bn beat estimates but fell ~8% QoQ on weaker realizations and higher coking coal costs, partly offset by better volumes,” the domestic brokerage said. “The management sees sustainable EU price hikes (carbon tax, protectionism as key catalysts), near-term India price gains despite higher coal costs, and projects on track (NINL by FY29; Ludhiana EAF by Q1FY27). We raise FY27/28E EBITDA by 3–8% and TP by 15% to Rs230 (from Rs200),” it added.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-gap-up-start-us-asian-markets-gain-liveblog-13817633.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Tata Steel shares jump 5% to fresh record high as brokerages raise target prices after Q3 results: Should you buy, sell or hold?

The shares of Tata Steel jumped around 5 percent to a fresh a record high on February 9 after the company released its results for the third quarter of FY26. Brokerages raised their target prices for the stock, highlighting in-line earnings of the metal major.

The shares of the Tata Group-company hit a fresh 52-week high of Rs 206.34 apiece on Monday. It is currently among the top gainers on benchmark indices Sensex and Nifty, as well as the more-concentrated Nifty Metal index which itself is up around 2 percent.
Tata Steel Q3 Results:
Tata Steel reported a consolidated net profit of Rs 2,689.70 crore for the October-December quarter of FY26 on February 6. This marks a whopping 723 percent YoY rise from the Rs 326.64 crore net profit reported in the same period of last year.

The firm's revenue from operations meanwhile rose more than 6 percent YoY to Rs 56,646.05 crore during the quarter under review.

The metal major's net profit margin improved to 4.79 percent in Q3 FY26, from 0.55 percent in Q3 FY25. Operating EBITDA margin meanwhile rose to 14.58 percent in the third quarter of the ongoing financial year 2026.

Consolidated EBITDA for the quarter, adjusting for forex movements, was Rs 8,276 crore, higher than the Rs 7,155 crore reported in the year prior.

Production and deliveries for its India operations were higher by 12 percent and 14 percent respectively, with the Q3 deliveries of 6.04 million tonne being the first time it has breached the 6 million tonne mark, the management said.
JM Financial on Tata Steel:
JM Financial kept its 'Buy' call on the stock, while raising its target price to Rs 240 apiece from Rs 215 apiece earlier. This implies an upside potential of nearly 22 percent from the stock’s previous closing price.

The domestic brokerage said that the company’s consolidated EBTITDA of Rs 8,276 crore was marginally above its estimate of Rs 8,000 crore. &quot;Indian operations spreads continue to trend up in tandem with higher steel prices while the European region awaits CBAM/Quota cut (June) led price hikes to sustain and trickle to margins eventually. The company expects similar Government led ring-fencing in UK ops too. Management stated net debt EBITDA target stands at 3x,&quot; it added.

JM Financial revised its earnings upwards for FY27/28 by 12-13 percent and an equivalent increase in target price to factor in an improved steel price outlook across regions.
Motilal Oswal on Tata Steel:
Motilal Oswal Financial Services said that Tata Steel’s earnings were broadly in-line with estimates, and the outlook looks bright due to the recent rise in steel prices. “Overall, TATA posted a decent performance in 3QFY26 as anticipated, primarily driven by healthy volume, offset by muted NSR in India. The combined EBITDA in Europe weakened due to muted earnings at the Netherlands operation, while the UK operating loss remained flat QoQ,” it said.

“Though there are near-term uncertainties related to price volatility due to trade barriers (CABM, tariffs, and import quota reduction), the long-term outlook remains strong for TATA. We raise our FY26E earnings (EBITDA by over 2% and PAT by over 3%), fueled by the better volume and NSR outlook. We also marginally raise our EBITDA for FY27E by 2% to reflect the improved outlook on pricing and costs,” it added.

Motilal kept its ‘Buy’ rating on the stock, while raising its target price for the stock to Rs 240 apiece, same as JM Financial.
PL Capital on Tata Steel:
PL Capital said that Tata Steel reported a strong operating performance at TSI (India), offsetting weaker TSE performance. “We cut our EBITDA estimates by 4%/1% on higher coking coal assumption and lower TSUK EBITDA and expect EBITDA CAGR of 24% over FY25-28E on the back of strong domestic pricing. At CMP, the stock is trading at 7.3x/6.4x EV of FY27/28E EBITDA. We roll forward to Mar’28 and maintain ‘Accumulate’ rating with revised TP of Rs226 valuing at higher 7.5x EV/TSI EBITDA multiple as TSI would benefit on higher prices along with strong domestic demand, structural cost transformation initiatives and higher European prices would aid faster TSE breakeven,” it said.
Emkay Global on Tata Steel:
Emkay Global maintained a ‘Buy’ rating on the stock, an increased its target price by 15 percent to Rs 230 apiece. This implies an upside potential of nearly 17 percent from the stock’s previous closing price.

“Tata Steel’s Q3 consolidated adj EBITDA of Rs82.7bn beat estimates but fell ~8% QoQ on weaker realizations and higher coking coal costs, partly offset by better volumes,” the domestic brokerage said. “The management sees sustainable EU price hikes (carbon tax, protectionism as key catalysts), near-term India price gains despite higher coal costs, and projects on track (NINL by FY29; Ludhiana EAF by Q1FY27). We raise FY27/28E EBITDA by 3–8% and TP by 15% to Rs230 (from Rs200),” it added.

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Kalyan Jewellers shares jumped nearly 12 percent after strong Q3 FY26 results, Q3 net profit rose over 90 percent YoY to Rs 416.3 crore; revenue up 42 percent, Brokerages keep 'Buy' calls due to strong growth and solid demand momentum.

* Kalyan Jewellers shares jumped nearly 12 percent after strong Q3 FY26 results
* Q3 net profit rose over 90 percent YoY to Rs 416.3 crore; revenue up 42 percent
* Brokerages keep 'Buy' calls due to strong growth and solid demand momentum.

Kalyan Jewellers shares surged nearly 12% after strong Q3 FY26 results, with net profit up 90% YoY and revenue rising 42%. Brokerages maintained 'Buy' ratings, citing robust growth, healthy demand, and positive outlook despite gold price volatility.

shorts/business/kalyan-jewellers-shares-jump-12-after-q3-results-beat-estimates-check-latest-target-prices

* Kalyan Jewellers shares jumped nearly 12 percent after strong Q3 FY26 results
* Q3 net profit rose over 90 percent YoY to Rs 416.3 crore; revenue up 42 percent
* Brokerages keep 'Buy' calls due to strong growth and solid demand momentum.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/diamondjewellery/kalyanjewellersindia/KJI01">Kalyan Jewellers India</a> jumped nearly 12 percent on February 9 after the company reported strong results for the October-December quarter of the ongoing financial year 2026.

The shares of the company rose to Rs 424.70 apiece in the morning trading hours of Monday. This is the highest level seen by the stock since January 21.
<h3><strong>Kalyan Jewellers Q3 Results:</strong></h3>
Kalyan Jewellers on February 6 reported a <a href="https://www.moneycontrol.com/news/business/earnings/kalyan-jewellers-india-q3-net-profit-nearly-doubles-yoy-to-rs-416-crore-inventory-gains-help-13815213.html">consolidated net profit of Rs 416.3 crore</a> for the October-December quarter of the ongoing financial year 2026. This marks a jump of more than 90 percent year-on-year (YoY) from the Rs 218.8 crore net profit reported in the same period of the previous financial year.

The firm’s revenue from operations meanwhile grew more than 42 percent YoY to Rs 10,343.4 crore in Q3 FY26 from Rs 7,278.1 crore in Q3 FY25.
<h3><strong>JM Financial on Kalyan Jewellers:</strong></h3>
JM Financial said that Kalyan Jewellers posted Q3 FY26 operational results which were ahead of its estimates with strong revenue growth of 40 percent-plus unleashing operating leverage and benefits of debt repayment beginning to kick in.

"Management highlighted sustained strong growth in Jan’26 in the face of volatility in gold prices, and noted they expect to end FY26 on a good note. SSSG growth also remained robust across regions with India registering SSSG of 27% YoY with 24% YoY SSSG for the Middle East. Candere is also shaping up along expectations and turned PAT-positive this quarter in line with guidance. Debt repayment plans stay intact with a target to be net debt-free by end-FY27E led by a combination of sale of non-core assets and cash flows. The regional brand will see some store openings in Q4FY26E with a total of four–five stores to be opened over one year initially," it said.

The domestic brokerage raised FY26–28E EPS by 4–5 percent given the robust revenue growth momentum. However, it reduced its target price for the stock to Rs 750 per share from Rs 775 per share, based on a cut in target P/E to 40x (due to higher beta over last 6M; from 45x) along with a rollover to Dec’27E EPS, while maintaining its ‘Buy’ call. The latest target price implies an upside potential of more than 97 percent from the stock’s previous closing price.
<h3><strong>Motilal Oswal on Kalyan Jewellers:</strong></h3>
Motilal Oswal kept a ‘Buy’ call on the stock, statin that the company delivered an “all-round beat” through its earnings. “Management indicated that on-ground demand momentum remained healthy in 3QFY26. During the 30 days leading up to Diwali, the company reported LFL growth of over 30%, reflecting strong festive traction. Demand in Jan’26 also remained robust, supported by healthy consumer footfalls despite volatility in gold prices,” it said.

“With the successful scale-up of franchise businesses (&gt;50% revenue contribution) and stable success in non-Southern markets, the company has established itself as a leading brand in the industry. Consistent success on customer acquisition, improving operating margin, and deleveraging balance sheet remain the key rationale for our constructive view on the business. We model a 21%/18%/22% revenue/EBITDA/PAT CAGR during FY26-28E. We reiterate our BUY rating with a TP of INR600 (based on 35x Dec’27 P/E),” it added.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-gap-up-start-us-asian-markets-gain-liveblog-13817633.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Kalyan Jewellers shares jump 12% after Q3 results beat estimates: Check latest target prices

Kalyan Jewellers share price jumps 12% after Q3 results beat estimates: Check latest target prices

The shares of Kalyan Jewellers India jumped nearly 12 percent on February 9 after the company reported strong results for the October-December quarter of the ongoing financial year 2026.

The shares of the company rose to Rs 424.70 apiece in the morning trading hours of Monday. This is the highest level seen by the stock since January 21.
Kalyan Jewellers Q3 Results:
Kalyan Jewellers on February 6 reported a consolidated net profit of Rs 416.3 crore for the October-December quarter of the ongoing financial year 2026. This marks a jump of more than 90 percent year-on-year (YoY) from the Rs 218.8 crore net profit reported in the same period of the previous financial year.

The firm’s revenue from operations meanwhile grew more than 42 percent YoY to Rs 10,343.4 crore in Q3 FY26 from Rs 7,278.1 crore in Q3 FY25.
JM Financial on Kalyan Jewellers:
JM Financial said that Kalyan Jewellers posted Q3 FY26 operational results which were ahead of its estimates with strong revenue growth of 40 percent-plus unleashing operating leverage and benefits of debt repayment beginning to kick in.

&quot;Management highlighted sustained strong growth in Jan’26 in the face of volatility in gold prices, and noted they expect to end FY26 on a good note. SSSG growth also remained robust across regions with India registering SSSG of 27% YoY with 24% YoY SSSG for the Middle East. Candere is also shaping up along expectations and turned PAT-positive this quarter in line with guidance. Debt repayment plans stay intact with a target to be net debt-free by end-FY27E led by a combination of sale of non-core assets and cash flows. The regional brand will see some store openings in Q4FY26E with a total of four–five stores to be opened over one year initially,&quot; it said.

The domestic brokerage raised FY26–28E EPS by 4–5 percent given the robust revenue growth momentum. However, it reduced its target price for the stock to Rs 750 per share from Rs 775 per share, based on a cut in target P/E to 40x (due to higher beta over last 6M; from 45x) along with a rollover to Dec’27E EPS, while maintaining its ‘Buy’ call. The latest target price implies an upside potential of more than 97 percent from the stock’s previous closing price.
Motilal Oswal on Kalyan Jewellers:
Motilal Oswal kept a ‘Buy’ call on the stock, statin that the company delivered an “all-round beat” through its earnings. “Management indicated that on-ground demand momentum remained healthy in 3QFY26. During the 30 days leading up to Diwali, the company reported LFL growth of over 30%, reflecting strong festive traction. Demand in Jan’26 also remained robust, supported by healthy consumer footfalls despite volatility in gold prices,” it said.

“With the successful scale-up of franchise businesses (&amp;gt;50% revenue contribution) and stable success in non-Southern markets, the company has established itself as a leading brand in the industry. Consistent success on customer acquisition, improving operating margin, and deleveraging balance sheet remain the key rationale for our constructive view on the business. We model a 21%/18%/22% revenue/EBITDA/PAT CAGR during FY26-28E. We reiterate our BUY rating with a TP of INR600 (based on 35x Dec’27 P/E),” it added.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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