November 6, 2026 | The News Strike
Indian stock markets are likely to begin Friday’s session on a cautious note, with GIFT Nifty indicating a negative opening. Investors will track global market weakness, crude oil prices, corporate earnings, brokerage recommendations and stock-specific developments as the market enters the final trading session of Samvat 2082.
The Nifty 50 has rallied for six consecutive sessions, gaining more than 2,000 points from its October 28 low of 22,497. The rally has raised hopes of a strong weekly performance, although volatility in global markets and rising crude oil prices could influence sentiment.
The Nifty’s immediate support is around 24,308, Thursday’s low, while market participants will look for the index to defend the 24,500 level. In banking stocks, the Nifty Bank’s 57,000 level remains an important downside support, with 58,000 emerging as the next upside level.
Global Markets and Crude Oil in Focus
Wall Street witnessed a sharp sell-off, with technology and large-cap technology stocks facing significant pressure. The decline has brought IT stocks and AI-linked companies back into focus in the Indian market.
Crude oil prices, which fell sharply on Wednesday, rebounded on Thursday following the global market sell-off. Brent crude moved back towards the $100-per-barrel mark, raising concerns for oil-importing economies such as India.
Market participants will also monitor developments in the global technology and artificial intelligence sectors. Geosphere Capital Management’s Arvind Sanger said new data centre projects in the United States could face slower execution and that contagion risks could become a concern over the next three to six months. He also said India could benefit from the current environment, provided oil prices decline.
Stocks to Watch on November 6
ONGC, Titan, Hindalco and other earnings-related stocks
ONGC, Titan Company, Hindalco and other companies remain in focus as the September-quarter earnings season approaches its conclusion. Investors will assess earnings performance, management commentary and brokerage views for stock-specific cues.
Bharti Airtel
Bharti Airtel is likely to attract attention after announcing its Q2 FY27 results. Brokerages remained broadly positive, citing growth in its Indian mobile business, higher average revenue per user (ARPU), enterprise performance and cash generation.
However, elevated subscriber churn and net additions below expectations remain concerns.
CLSA retained its Outperform rating on Bharti Airtel and raised its target price to ₹2,765 per share. The brokerage highlighted Q2 revenue of ₹60,900 crore and EBITDA of ₹34,900 crore, with India and Africa operations driving the positive surprise. ARPU rose 3% quarter-on-quarter to ₹271, while postpaid net additions reached a record high.
Astral
CLSA maintained a Hold rating on Astral with a target price of ₹1,460. The brokerage noted that Q2 EBITDA missed estimates due to lower margins, although piping volume growth of 19% year-on-year was in line with expectations.
Astral attributed weaker profitability to delayed pass-through of higher input costs. The company reiterated its FY27 guidance of double-digit volume growth and margins of 16–18%.
JPMorgan maintained an Overweight rating with a target price of ₹1,635. It highlighted margin contraction and higher raw material costs as key concerns, while noting management’s expectation of margin recovery in Q3 following price increases.
Abbott India
JPMorgan maintained a Neutral rating on Abbott India with a target price of ₹30,800.
Q2 revenue, EBITDA and PAT increased 11%, 13% and 9% year-on-year, respectively. Revenue was modestly ahead of estimates, while EBITDA was broadly in line and PAT missed expectations due to lower other income and higher finance costs.
The brokerage noted continued growth in Abbott’s own portfolio, which helped offset the phase-out of legacy Novo insulin brands and weakness in Rybelsus.
Bharti Hexacom
CLSA maintained a Hold rating on Bharti Hexacom with a target price of ₹1,725.
Q2 FY27 revenue rose 11% year-on-year to ₹25.8 billion. ARPU increased 5% year-on-year to ₹264, although mobile subscribers declined by 16,000 quarter-on-quarter to 29 million.
Aurobindo Pharma
CLSA maintained a Hold rating on Aurobindo Pharma with a target price of ₹1,800.
The company reported record revenue and EBITDA, supported by growth across geographies and a 75-basis-point year-on-year improvement in margins. US revenue benefited from the successful completion of the Lannett acquisition.
The brokerage retained its FY27 outlook of double-digit revenue growth and margins above 21%.
Adani Ports
Jefferies maintained a Buy rating on Adani Ports with a target price of ₹2,180.
The company notified exchanges of its acquisition of a 100% stake in Evos B.V. from Igneo Infrastructure Partners in an all-cash transaction. The deal values Evos at an enterprise value of €2.56 billion and an equity value of €1.18 billion.
The acquisition is expected to expand Adani Ports’ European liquid business and support growth linked to the energy transition.
Apollo Hospitals
JPMorgan maintained an Overweight rating on Apollo Hospitals with a target price of ₹10,700.
Q2 revenue and EBITDA grew 23% and 29% year-on-year, respectively. Hospital demand remained strong, with occupancy rising to 73% and inpatient volumes increasing 14%.
However, new-unit losses and pre-operative costs weighed on margins. Apollo’s HealthCo demerger remains on track for Q4 FY27, subject to approvals.
CLSA maintained an Outperform rating with a target price of ₹9,860, citing healthy growth across business segments and planned capacity additions.
Samvardhana Motherson
CLSA maintained an Outperform rating and raised its target price to ₹217.
Q2 FY27 EBITDA margin stood at 8.7%, broadly flat quarter-on-quarter and in line with estimates. Revenue grew approximately 27% year-on-year, supported by acquisitions.
JPMorgan maintained an Overweight rating with a target price of ₹205, citing a Q2 revenue and EBITDA beat and raising FY27–FY29 earnings estimates by 1–4%.
Block Deals and Institutional Transactions
V2 Retail
V2 Retail shares worth approximately ₹100 crore changed hands in a block deal on Friday morning.
Around 63 lakh shares, representing 1.71% of the company’s equity, were traded at ₹160 per share. CNBC-TV18 reported that W Aditya Halwasiya and Ananta Capital were likely buyers in the transaction.
Forbes & Company
Mauritius-based Elysian Wealth Fund sold 3.14 lakh shares, representing 2.4% of Forbes & Company’s paid-up capital, for approximately ₹8.47 crore at ₹270.04 per share.
Resonance Opportunities Fund also sold 3.14 lakh shares for approximately ₹8.48 crore at ₹270.19 per share.
Anantam Highways Trust
Edelweiss Broking acquired 22.5 lakh units, equivalent to 1.03% of the paid-up equity in Anantam Highways Trust, for ₹22.5 crore at ₹100 per unit.
WhiteOak Capital Multi Asset Allocation Fund sold 11.83 lakh units at ₹100.01 per unit, valued at approximately ₹11.8 crore.
SME Listings Today
Four companies are scheduled to make their debut on the SME platform on November 6:
Johnsoncab Electricals
HGS India
Vectras Enprocon
Maxwell Engineering Solutions
Cohance Life Sciences
Cohance Life Sciences is in focus after the Telangana Pollution Control Board (TGPCB) issued a directive to shut operations at the company’s manufacturing facility in Suryapet, Telangana.
Market Outlook
The market will remain focused on whether the Nifty can sustain its six-session rally and defend the 24,500 level. Global market weakness, rising crude oil prices and developments in technology stocks could influence the opening and intraday direction.
Banking stocks will also be watched closely, with Nifty Bank support at 57,000 and resistance around 58,000.
Investors should monitor earnings announcements, brokerage updates and institutional transactions for stock-specific opportunities and risks.
Disclaimer: This article is for informational and educational purposes only and should not be construed as investment advice or a recommendation to buy or sell any securities. Stock market investments are subject to market risks. Readers should consult a qualified financial advisor and conduct their own research before making investment decisions.
