The Indian rupee has opened considerably weaker against the US dollar on Monday, depreciating by almost half a percent amid global jitters, including tension in the Middle East and rising crude prices.

The local currency opened at Rs 94.88 on Monday, which accounts for a 40 paise depreciation compared to Friday’s closing price of Rs 94.48.

This also comes against the back of Prime Minister Narendra Modi appealed to citizens and businesses to conserve fuel and revive the work-from-home culture in an attempt to curb fuel consumption amid rising energy prices.

This story will be updated.

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Jefferies has maintained its ‘buy’ rating on Adani Ports and Special Economic Zone Ltd., while raising its target price to Rs 2,100 from Rs 1,980, reflecting confidence in the company’s medium-term growth outlook. The current market price is Rs 1,760 which implies an upside of about 19%. 

The brokerage said strong cash flow visibility supports the coexistence of growth capital expenditure and balance sheet deleveraging. It has noted capital allocation as a key focus area, with the company expected to balance expansion plans while strengthening its financial position.

Jefferies noted that domestic port volumes are likely to benefit from market share gains and government initiatives. It also said the company’s port-logistics ecosystem and network effects remain key enablers of sustained volume growth.

According to the brokerage, free cash flow generation is expected to accelerate meaningfully after FY26, supported by improving operating performance and disciplined capital deployment. RoCE (Return on Capital Employed) expansion also remains a key driver for the company’s valuation and long-term investment case.

ALSO READ: Adani Ports Announces Rs 7.5 Per Share Dividend — Check Record Date

Adani Ports and Special Economic Zone Ltd. Q4 Results

Adani Ports and Special Economic Zone Ltd. reported FY26 revenue growth above its guidance, aided by higher cargo volumes and expansion across its logistics and marine businesses. The performance prompted brokerages to raise their target prices, citing better visibility on the company’s medium-term growth outlook.

Revenue rose 25% year-on-year to Rs 38,736 crore in FY26, surpassing the company’s guidance of Rs 38,000 crore. Earnings before interest, tax, depreciation and amortisation increased 20% to Rs 22,851 crore, also coming in above the guided range.

The company handled over 500 million metric tonnes of cargo during the year, a first for its operations. Brokerages expect growth to be supported by capacity additions, a scale-up in logistics and disciplined capital allocation over the medium term.

ALSO READ: Adani Ports Q4 Review: Brokerages Raise Target Prices On Growth Outlook — Check Potential Upside, Stock Rating And More

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)

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Morgan Stanley has maintained its underweight rating on home-based services provider Urban Company Ltd, while raising its target price to Rs 128 from Rs 120. The current market price is 137.80 and the revised target price implies a downside of about 7.1%.

The brokerage said Urban Company’s fourth-quarter performance reflected good execution and a strong intent to win in the instant services market. It noted that the biggest takeaway from the quarter was that the company’s business moats have become stronger than before.

However, Morgan Stanley said the battle for the instant services market is turning increasingly serious, especially after strong capital raising by private peers. This could keep competitive intensity high and force companies to invest more aggressively. The brokerage expects investment levels to remain elevated for a longer period, despite the company’s improved execution and strengthening market position.

ALSO READ: Urban Company Q4FY26 Results: Date, Earnings Call Schedule, Share Price History And Other Key Details

Urban Company Q4 Earnings

Urban Company has posted widening of consolidated loss to Rs 161 crore for March quarter FY26 mainly on account of investment in new service InstaHelp. The company had posted a loss of Rs 2.84 crore in the same period a year ago, as per a regulatory filing.In contrast, revenue from operations surged 42.6% to Rs 426 crore, compared to Rs 298 crore year-on-year. However, the expansion in scale was accompanied by a widening of operational losses; EBITDA loss stood at Rs 114 crore versus a loss of Rs 9.9 crore in the previous year.

InstaHelp exited the fourth quarter with around 27 lakh orders with March alone crossing 11 lakh orders and net transaction value (NTV) of Rs 40 crore from near-zero at the start of FY26, Urban Company, Founder and CEO, Abhiraj Singh Bhal said.

For the year ended March 31, 2026, Urban Company posted a loss of around Rs 235 crore compared to a profit of Rs 239.76 crore a year ago. Revenue from operations grew by about 36% to Rs 1,555.54 crore.

ALSO READ: Urban Company Q4 Results: Net Loss Rockets Even As Revenue Jumps 43%

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