Top Gainers & Losers: Tech Mahindra and NTPC rise among blue chip stocks, Sun Pharma dips after US FDA halts dermatological trial
Top Gainers & Losers: Rallying for the eighth straight day, BSE Sensex climbed 242.27 points or 0.40 per cent to settle at 61,354.71. Here's what brokerages recommend
Top Gainers & Losers: Indian equity benchmarks ended higher on Tuesday mainly due to buying in index heavyweights Infosys and Reliance Industries amid foreign fund inflows.
Also, a firm trend in Asian gauges and record GST collection in April added to the optimism.
Rallying for the eighth straight day, BSE Sensex climbed 242.27 points or 0.40 per cent to settle at 61,354.71 and NSE Nifty went up 82.65 points or 0.46 per cent to finish at 18,147.65.
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From the Nifty firms, ONGC, Tech Mahindra, HDFC Life Insurance, NTPC, and Hindalco were the biggest gainers.
Hero MotoCorp, Sun Pharma, UltraTech Cement, Bharti Airtel and Kotak Mahindra Bank were among the laggards.
"Overall, the positive outlook remains intact. Today Nifty has achieved our short-term target of 18100 and hence we revised it upwards to 18350 which coincides with the weekly upper Bollinger band. In terms of levels, 18050 – 18000 shall act as a crucial support zone while 18180 – 18200 shall act as an immediate hurdle zone for the Nifty," said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
Here's a look at some of the blue-chip stocks that moved the most on Tuesday:
Tech Mahindra
Tech Mahindra stock was among the top gainers on Nifty50, it rose nearly 3 per cent to Rs 1,053 per share on the NSE.
Brokerage firm, Ashika Group has recommended buying shares of Tech Mahindra for a target price of Rs 1,180 which is an upside of 12.1 per cent.
The brokerage believes that Tech Mahindra is well-placed to capture 5G-related spending from Technology Service Providers and original equipment manufacturers.
Pic: NSE
NTPC
Shares of NTPC ended among the top gainers on Nifty50 on Tuesday, the scrip rose over 2 per cent to Rs 176 per share on the NSE.
Emkay Global has given a 'buy' rating on shares on shares of NTPC for a target price of Rs 200 apiece which is an upside of Rs 13.6 per cent.
According to Emkay, high utilization, and strong capacity addition are all positives for the company.
Pic: NSE
Sun Pharma
Sun Pharma stock ended among the major losers on NSE. Shares of the private lender dipped nearly 2 per cent and settled at Rs 972.4 apiece after the US FDA halted the pharmaceutical company's dermatological drug trial.
Brokerage firm, Nirmal Bang has maintained a ‘buy’ call on shares of Sun Pharma for a target price of Rs 1202 apiece which is an upside of 23.6 per cent.
The brokerage is bullish on Sun Pharma due to the company's continued growth in India business and potential inorganic opportunity due to a strong balance sheet, especially in Ophthalmology and Oncology specialty segments.
Pic: NSE
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Gainers and Losers- Top 10 stocks that buzzed the most today
Gainers and Losers: Top 10 stocks that buzzed the most today
Gainers and Losers: Top 10 stocks that buzzed the most today
Gainers and Losers— Top 10 stocks that buzzed the most today
Gainers and Losers- Top 10 stocks that buzzed the most today