Top Gainers & Losers: Motor stocks vroom on D-street, UPL ends marginally lower
Top Gainers & Losers: BSE Sensex advanced 346.37 points or 0.60 per cent to finish at 57,960 and NSE Nifty50 climbed 129 points or 0.76 per cent to end at 17,080.70.
Top Gainers & Losers: Indian equity indices ended higher in green on Wednesday amid fresh foreign fund inflows and firm trends in global markets. Buying in services, realty, commodities, and auto stocks also added to the positive momentum.
BSE Sensex advanced 346.37 points or 0.60 per cent to finish at 57,960 and NSE Nifty50 climbed 129 points or 0.76 per cent to end at 17,080.70.
Among the Nifty50 stocks, Adani Enterprises, Adani Port, Eicher Motors, Hero MotoCorp, and HCL Tech were the major gainers.
Conversely, UPL, Bharti Airtel, Asian Paints, Reliance, and Cipla were the laggards.
Here's a look at some of the blue-chip stocks that moved the most on Wednesday:
Hero MotoCorp shares rose more than two per cent to Rs 2,314 apiece on NSE.
AnandRathi has recommended buying shares of Hero MotoCorp for a target price of Rs 2,855 apiece.
According to the brokerage, Hero MotoCorp is on the path to market share recovery and is backed by action on all fronts including multiple product launches which are lined up in the coming quarters.
Eicher Motors shares rose more than two per cent to Rs 2,931 apiece on NSE.
Motilal Oswal has given a ‘buy’ on Eicher Motors shares for a target price of Rs 3,625 apiece.
The brokerage believes Eicher Motors will continue to launch new products to address demand in international markets and to give upgrade options to Royal Enfield owners in India and there are levers for margin improvement in the near term.
UPL shares ended as the top loser in the Nifty50 basket, trading marginally lower by 0.79 per cent to Rs 709 per share on NSE.
“We believe UPL offers an attractive value proposition with stable growth outlook, debt reduction on cards from cash flow generation, and compelling valuations,” said Rohan Gupta, an analyst at Nuvama Institutional Equities.
The brokerage maintained a ‘buy’ rating on the stock with a target of Rs 1,024 apiece.
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