Grasim stock: Jefferies target raised to Rs 3,560

What changed in the latest Jefferies note

Jefferies adjusted its price target on Grasim Industries Ltd. to INR 3,560 from INR 3,500 and maintained its Buy rating, according to a note dated February 12, 2026. The update is part of a broader set of brokerage refreshes around the company in recent months. The Jefferies call keeps Grasim in the Buy bucket despite a market backdrop where sector risks are being discussed more openly.

Alongside the positive rating, analysts also flagged key downside risks for the broader space. These risks include tariffs and anti-dumping duties, further price declines, the West Asia crisis leading to raw material shortages, and higher inventories in the agro-chemicals segment. The combination of a higher target and explicit risk listing indicates a stance that remains constructive, but not without caution on near-term volatility drivers.

Multiple Jefferies targets referenced across reports

The Jefferies coverage appears in more than one version across data feeds. One update lists the revised target at INR 3,560 (raised from INR 3,500), while another reference pegs Jefferies at a Buy with a target price of Rs 3,440. Separately, another Jefferies entry notes: “Prateek Kumar from Jefferies maintained a Buy rating on Grasim Industries Ltd., with a price target of INR 3,500.00.”

The presence of different target values in circulating summaries can happen when markets are viewing multiple report dates, editions, or distribution timestamps. What is consistent across the Jefferies entries is the Buy rating. For investors, the key takeaway is that Jefferies remains positive on the stock even as it acknowledges sector-level downside risks.

Where Grasim shares were trading in the cited updates

The stock prices shown in the same set of summaries vary by timestamp and market reference. One table shows Grasim at INR 2,851.90 with a 5-day change of -0.43% and a 1st Jan change of +0.89%. Another table shows INR 2,925.50 with a 5-day change of -0.24% and a 1st Jan change of +3.41%.

In another section, the company’s shares are stated to have closed at INR 2,744.90. Elsewhere, an entry shows “Market Closed - NSE India S.E.” with the stock at INR 2,758.90 and a +2.50% move (timestamped 2025-08-11). These varying figures point to different market snapshots rather than a single closing price, but they help frame the targets as being well above the reported trading levels.

Consensus view and what other brokerages are saying

The broader analyst consensus in the provided material is described as “Moderate Buy.” One consensus line cites an average price target of INR 3,384.00, described as representing a 21.78% upside. Another consensus line cites an average price target of INR 3,346.00, implying a 21.90% upside from current levels.

Citi is also referenced multiple times as maintaining a Buy rating with a target price of INR 3,400.00. A separate reference notes that J.P. Morgan started Grasim Industries at Overweight with an INR 3,300 price target (dated Dec. 22 in the supplied text). These targets cluster in a similar range, with Jefferies’ updated INR 3,560 target sitting above the consensus figures cited.

Downside risks highlighted: duties, pricing, geopolitics, inventories

Analysts specifically pointed to four downside risks: tariffs and anti-dumping duties, further price declines, the West Asia crisis leading to raw material shortages, and higher inventories in the agro-chemicals segment. Each of these can impact costs, pricing power, or working capital cycles depending on how they develop.

The tariffs and anti-dumping point is important because it can change competitive intensity and cost structures for import-linked supply chains. The reference to “further price declines” suggests the sector is sensitive to commodity or product price trends. The West Asia crisis risk is framed as a potential trigger for raw material shortages, which can disrupt availability and pricing. The inventory risk in agro-chemicals highlights a demand-supply balancing issue that can weigh on near-term earnings quality for companies exposed to that segment.

Range indicators cited for the stock

The provided snippets cite different range markers. One section lists a one-year high of INR 2,911.80 and a one-year low of INR 2,276.10. Another section provides a 52-week range spanning from INR 2,171.60 to INR 2,877.75.

These range indicators are useful context when reading price targets that sit above INR 3,300. They show the stock has traded below INR 2,300 in the cited one-year or 52-week low data, and near INR 2,900 at the high end, depending on the reference range used.

Market impact: what the targets imply versus reported prices

The supplied consensus upside figures quantify how broker targets compare with prevailing prices at the time of those reports. The average target of INR 3,384.00 is stated to represent a 21.78% upside. The average target of INR 3,346.00 is stated to represent a 21.90% upside.

A separate data panel also lists “Analysts 12-Month Price Target” with an average of INR 2,927.10 and an indicated upside of +10.07%, with a high estimate of INR 3,350 and a low estimate of INR 2,500, based on 10 analysts. These different consensus sets underline that “consensus” can vary by data source and analyst universe, but the direction across the cited panels remains positive.

Key figures mentioned in the report snapshots

Takeaway and what to watch next

Jefferies’ move to lift the Grasim target to INR 3,560 while keeping a Buy rating adds to a set of broker views that broadly remain constructive, with Citi also at Buy and J.P. Morgan at Overweight in the cited summaries. At the same time, the downside risk list in the same material puts attention on policy actions like anti-dumping duties, product price trends, geopolitical supply disruptions linked to West Asia, and inventory conditions in agro-chemicals.

Near-term focus for investors will likely remain on how these risks evolve alongside any further brokerage revisions. The next set of updates to watch, based on the pattern in the supplied feed, would be additional analyst target changes or changes to consensus estimates as new information becomes available.