Top Gainers & Losers: Apollo Hospitals, Cipla rally; M&M cracks over 3%
Gainers and Losers: Snapping its three-day gaining streak, the 30-share BSE Sensex closed 541.81 points or 0.90 per cent lower at 59,806.28.
Gainers and Losers: The Indian equity benchmark indices ended lower on Thursday, March 9. Sensex declined nearly 540 points, pressured by heavy selling in index heavyweights Reliance Industries, Bajaj Finserv and ICICI Bank, amid a sluggish trend in the global markets.
Snapping its three-day gaining streak, the 30-share BSE Sensex closed 541.81 points or 0.90 per cent lower at 59,806.28. Similarly, the broader NSE Nifty declined 164.80 points or 0.93 per cent to 17,589.60.
Adani Enterprises was the top loser on the NSE Nifty50 pack, followed by M&M, SBI Life Insurance, Reliance and Adani Ports.
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On the other hand, Tata Steel, L&T, Apollo Hospitals, Bharti Airtel and Cipla were among the gainers.
Here are some blue-chip stocks that saw maximum buzz today:
Apollo Hospitals
Shares of Apollo Hospitals climbed 0.82 per cent or Rs 36.05 at Rs 4,412.10 apiece on NSE.
Image source: NSE
Brokerage firm Smifs Limited has given a ‘buy’ call and set the target of Rs 5,280 apiece.
The brokerage firm is positive about the prospects of Apollo Hospitals. According to the brokerage report, the company’s pharmacy distribution business will see an increase in Gross Merchandise Value (GMV) to Rs 1,500 crore in FY23 and Rs 3,200 crore in FY24 due to an increase in the customer base.
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Cipla
Cipla stock rallied by Rs 5.25 or 0.60 per cent at Rs 882.50 apiece on NSE.
Image source: NSE
Brokerage firm JM Financials has maintained a ‘hold’ on shares of Cipla for a target price of Rs 930 apiece.
The brokerage firm has raised concerns about Cipla’s Pithampur facility which was recently inspected by the US FDA. According to the report, the aforesaid plant was inspected between Feb 6 and Feb 17, 2023 and contributes nearly 5-6 per cent of total sales which could be affected.
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The report stated that domestic growth could be lower due to the National List of Essential Medicines (NLEM) price revisions and trade generics slowdown.
M&M
Shares of M&M fell 3.47 per cent or Rs 44.80 at Rs 1,245.15 apiece on NSE.
Image source: NSE
Brokerage firm Yes Securities is bullish on M&M and has given a ‘buy’ call with a target price of Rs 1,561 apiece
The brokerage believes that the margins will remain at an elevated level led by price hikes and the end of introductory pricing for popular vehicles like XUV7OO, Thar and Scorpio N.
The report stated that moderating Raw Material inflation and cost controls are also some of the positives.
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06:31 pm
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