Top Gainers & Losers: Dr Reddy’s Labs, Bajaj Auto end in green, Power Grid dips nearly 2%
Top Gainers & Losers: TCS will kick start the Q4 earnings season later in the day. Industrial Production data for February and March inflation rates are scheduled to be announced post-market hours.
Top Gainers & Losers: Indian equity benchmarks Sensex and Nifty extended the rally for the eighth straight session on Wednesday, led by buying in IT, healthcare, and auto stocks amid sustained foreign fund inflows.
TCS will kick start the Q4 earnings season later in the day. Industrial Production data for February and March inflation rates are scheduled to be announced post-market hours.
BSE Sensex climbed 235.05 points or 0.39 per cent to settle at 60,392.77 and NSE Nifty gained 90.10 points or 0.51 per cent to finish at 17,812.40.
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Among the Nifty50 firms, Divi’s Laboratories, Bajaj Auto, Adani Enterprises, Eicher Motors, and Dr Reddy’s Laboratories were the biggest winners.
Conversely, PowerGrid, NTPC, Nestle, UltraTech Cement, and HUL were the top laggards.
Here's a look at some of the blue-chip stocks that moved the most on Wednesday:
Dr Reddy’s Laboratories
Shares of Dr Reddy’s Laboratories ended among top gainers on Nifty50 on Wednesday. The stock rose nearly 2.22 per cent to Rs 4,869 per share on the NSE.
Axis Securities has recommended buying shares of Dr Reddy’s Laboratories for a target price of Rs 5,100 which is an upside of 4.2 per cent.
ALSO READ: US CPI Data for March: Release date, time, all you need to know
Bajaj Auto
Bajaj Auto stock was among the top gainers on Nifty50, it rose 2.55 per cent to Rs 4,284 per share on the NSE.
Smifs Limited has given a ‘buy’ rating on Bajaj Auto with a target price of Rs 4,375 per share which is an upside of 2.1 per cent
According to the brokerage, the company has strong domestic growth across segments and the EV will support volume growth. The brokerage also believes that the exports will increase starting Q1FY24.
ALSO READ: US CPI Data for March: Release date, time, all you need to know
Power Grid
Power Grid's share price closed as a top loser on Nifty50 on Wednesday. The stock declined 1.66 per cent to Rs 227.5 per share on the NSE.
Sharekhan is bullish on Power Grid and has given a ‘buy’ call for a target of Rs 265 apiece which is an upside of 16.5 per cent.
The brokerage believes that Power Grid has a robust project pipeline of Rs 25,600 crore and recent new Tariff-Based Competitive Bidding project wins as well as a regulated return on equity model provides earnings visibility.
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04:46 pm
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