Indian equity benchmarks ended a topsy-turvy trading session with minor gains as the Nifty 50 closed 0.05% higher at 23,416.55, up 10.95 points, while the Sensex gained 0.02% to 74,360.01, up 13.84 points. According to latest market reports, Nifty India Defence rose 1.26%, Nifty Energy gained 0.92%, and Nifty PSU Bank advanced 0.78%. However, Nifty IT fell 0.6%, Nifty Metal declined 0.45%, and Nifty IT slipped 0.08%. The Nifty 50 traded 0.05% higher at 23,416.30, rising 10.70 points, while the Sensex gained 0.07%, or 51.70 points, to 74,397.87.
Multiple brokerage firms have issued fresh recommendations for today's trading session (June 8), with Nuvama Research, Emkay, Goldman Sachs, Citi and Motilal Oswal providing updated target prices for key stocks. According to reports from ET Now, these recommendations span across various sectors including cement, asset management, and consumer goods, offering market participants key cues on valuation trends and earnings expectations for the 2026 period.
Titan Company receives mixed but generally positive analyst sentiment with Morgan Stanley maintaining its overweight rating with a target price of ₹5,182, while Prabhudas Lilladher issued a Buy rating with a target price of ₹5,161 in its latest research report dated June 4, 2026. However, Nuvama Research maintains a Buy rating and a target price of ₹5,030, while Emkay has reduced its target price to ₹4,750 from ₹5,350 while maintaining an Add rating. As reported by ET Now, this divergence in target prices reflects different analyst perspectives on the company's near-term prospects despite the overall positive outlook. According to Morgan Stanley's latest analysis, analysts projected 19% annual jewellery revenue growth for Titan through FY30 and the company is aiming to increase market share from 8.5% to 11%. The company's gold exchange programs now drive about 50% of the revenue, and despite stricter import documentation, supply remains secure. Analysts also noted that jewellery demand saw a brief impact after the Prime Minister's comments recently but has rebounded, with the plain gold opportunity remaining large.
CLSA maintains an outperform rating on Bharti Airtel with a target price of ₹2,310, with the IPO for Airtel Money scheduled for the second half of 2026. According to The Times of India, Airtel Money could raise $1.5-2 billion at a potential valuation of $10 billion, up four-fold from 2021, implying about 60% of Airtel Africa's market cap. Airtel Money's FY26 revenue was up 36% YoY to $1.4 billion, while earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 31% YoY to $689 million. Airtel Money penetration is low at 29% of Airtel Africa's own mobile subscribers of 184 million as Nigeria has yet to ramp up, indicating strong growth potential. The business contributes about 20% of the region, with Africa accounting for 25% of Bharti Airtel's consolidated operations.
Goldman Sachs maintained its buy rating on Adani Ports & SEZ with the target price raised to ₹1,870, while JP Morgan has an overweight rating on Maruti Suzuki with the target price at ₹16,415. According to The Times of India, Goldman Sachs analysts said May 2026 cargo volumes reached 48.3 million tonnes, a 16% YoY increase, driven by a 33% rise in liquids and 17% in containers. Quarter-to-date cargo volumes are at 91.4 million tonnes, up 15% YoY and exceeding analyst expectations. Nomura maintains a buy on M&M with the target price at ₹4,580, with analysts expecting the company's strong growth outlook to be driven by capacity expansion and model cycle. The company plans to launch 10 ICEs and 6BEVs over FY27-FY31, with M&M's Nagpur plant eventually having a capacity of 500k SUVs and 100k tractors which will commence operation in 2028.
