Nifty, Sensex Gainers, and Losers: Equity benchmark Sensex declined nearly 390 points on Friday, pressured by heavy selling in IT and energy stocks despite a positive trend in global markets. Nifty50 also ended in red at 18,496.60 which was 112.75 points down or 0.61 per cent. 

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Nestle India: Buy – Target Rs 22,000; Upside of 8.6%

Shares of Nestle India closed as top Nifty and Sensex gainer, up around 3 per cent to Rs 20,260 per share on the NSE. 

Research analysts believe that market will appreciate the volume-based outperformance of Nestle.

“We believe the street will potentially appreciate the volume-based outperformance which Nestle is delivering,” said Manoj Menon, research analyst at ICICI Securities.

Sun Pharma: Neutral — Target Rs 1,120; Upside of 12.8%

Shares of Sun Pharma closed as top Nifty and Sensex gainer, up around 2 per cent to Rs 993 apiece on the NSE. 

“The US FDA has classified Sun’s Halol facility under an import alert. Though this is clearly a setback for Sun, the only solace is annual US sales from Halol have declined significantly from US$400+ mn to ~US155 mn over the past seven years. In the absence of any details, we have assumed 50% of Halol’s US sales come from the 14 molecules exempted from the import alert,” said Alankar Garude, CFA, Kotak Institutional Equities.

HCL Tech: Neutral- Target Price- Rs 1115; Upside of 8.3%

Shares of HCL Tech ended as top Nifty and Sensex losers, down around 7 per cent to Rs 1,029.80 per share on the NSE.

Regarding HCL stock, Abhishek Bhandari, Chartered Financial Analyst, NFASL, says “IT sector valuation has moderated significantly and its premium to broader Indian markets has fallen in the past six months. However, it remains elevated when compared with long-term averages. Against this backdrop, we are selective in our picks.”

Paytm shares jump over 4% after the company calls board meeting to discuss buyback  

Nifty50 Top Gainers:

1) Nestle India shares ended at Rs 20,260, up around 3 per cent on the NSE from Thursday's closing price.

2) Sun Pharma shares ended at Rs 993 up around 2 per cent on the NSE from Thursday's closing price.

3) ITC shares ended at Rs 342 up over 1 per cent on the NSE from Thursday's closing price.

4) Dr Reddy’s Lab shares ended at Rs 4,400, up by 1.01 per cent on the NSE from Thursday's closing price.

5) Titan shares ended at Rs 2,609.25, up by 1 per cent on the NSE from Thursday's closing price

Nifty50 Top Losers:

1) HCL Tech shares ended at Rs 1029.80, down around 7 per cent on the NSE from Thursday's closing price.

2) Tech Mahindra shares ended at Rs 1036.75, down around 4 per cent on the NSE from Thursday's closing price.

3) Infosys  shares ended at Rs 1,570.20 down over 3 per cent on the NSE from Thursday's closing price.

4) Wipro shares ended at Rs 394.15, down over 2 per cent on the NSE from Thursday's closing price.

5) TCS shares ended at Rs 3,290, down over 1 per cent on the NSE from Thursday's closing price.

Sensex Top Gainers:

1) Nestle India shares ended at Rs 20247.05, up over 2 per cent on the BSE from Thursday's closing price.

2) Titan shares ended at Rs 2615.30, up over 1 per cent on the BSE from Thursday's closing price.

3) Dr Reddy’s Lab shares ended at Rs 4408, up over 1 per cent on the BSE from Thursday's closing price.

4) Sun Pharma shares ended at Rs 992.75, up over 1 per cent on the BSE from Thursday's  closing price.

5) IndusInd Bank shares ended at Rs 1202.05, up around 1 per cent on the BSE from Thursday's closing price

Sensex Top Losers:

1) HCL Tech shares ended at Rs 1027.30, down by around 7 per cent on the BSE from Thursday's closing price.

2) Tech Mahindra shares ended at Rs 1035.50, down around 4 per cent on the BSE from Thursday's closing price.

3) Infosys shares ended at Rs 1568.85, down over 3 per cent on the BSE from Thursday's closing price.

4) Wipro shares ended at Rs 394.05, down by over 2 per cent on the BSE from Thursday's closing price.

5) TCS shares ended at Rs 3292.65, down around 2 per cent on the BSE from Thursday's closing price.

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