Nifty, Sensex Gainers & Losers: HUL, JSW Steel close as top gainers; IndusInd Bank shares slip most – what should investors do?

Nifty, Sensex, Gainers, Losers, HUL, JSW Steel, IndusInd Bank: The Indian markets opened in the green and carried the momentum as the session progressed. Nifty and Sensex closed at fresh lifetime high levels at 18618 and 62,681, respectively each up around 0.3 per cent on Tuesday.  

On the contrary, the broader markets such as Nifty Mid and Small-cap closed negative down around 0.5 per cent, while the 12-share banking index closed flat with marginal gains. Heavyweights such as HUL, JSW Steel, Cipla were among top gainers, while IndusInd Bank, Coal India were among the top laggards. 

During the afternoon session the markets continued their positive trend with heavy buying in FMCG and Consumer Durables stocks, while most sectoral indices were trading in green except auto and realty, ended marginally in red. 

Sentiments remained optimistic as the data showed that foreign portfolio investors have infused funds worth Rs 32,344 crore in Indian stock markets so far in November and became net buyers again, Narendra Solanki - Head Fundamental Research, Anand Rathi Shares & Stock Brokers said. 

Hindustan Unilever (HUL): BUY – Target: 3200; Upside: 22% 

Shares of HUL have closed as top gainer on Nifty and Sensex. The stock surged over 4 per cent to Rs 2,636 on the NSE as compared to 0.3 per cent rise in the benchmark index. 

Vishal Gutka, Research Analyst at Philip Capital in its report on HUL said: “We have cut our EPS estimates by 0.5-1% for FY24-25 to account for termination of contract of distributing products of GSK and but continue to maintain our high conviction BUY with target of Rs 3200 (60x FY25 EPS).” 

The company’s strategy remains more of the same: Driving the core; focusing on premiumization; market development with regards to categories of tomorrow and ensuring modest margin expansion, the research analyst also noted in its report on FMCG major. 

JSW Steel: Neutral – Target: 630 

JSW Steel ended among the top Nifty gainers, up over 2 per cent to Rs 731 apiece on the NSE. 

Motilal Oswal on the company’s update said, “We have raised third and fourth quarter of FY23 long product price expectation by Rs 500/1,000 per tonne, respectively, and incorporate the benefit of a higher margin in the export market due to the removal of the export duty. 

The brokerage maintained a Neutral rating with a lower target price to Rs 630 per share on expectations of an improvement in EBITDA margin. 

IndusInd Bank: BUY – Target: 1450; Upside: 23% 

Shares of IndusInd Bank closed as top Nifty and Sensex loser, down around 1.5 per cent to Rs 1,180 per share on the exchanges. 

The management is guiding for continued momentum in loan growth and is looking to end FY23 with a growth of 20 per cent, Motilal Oswal said in its report.  

The brokerage estimates PAT to report 40 per cent CAGR (Compound Annual Growth Rate) over FY22-24, leading to 16 per cent RoE (Return on Equity) in FY24E and maintain BUY rating with a target of Rs 1,450 per share, premised on 1.8x FY24E ABV. 

Nifty50 Top Gainers:  

1) HUL shares ended at Rs 2,635.95, up over 4 per cent on the NSE from Monday’s closing price.  

2) JSW Steel shares ended at Rs 731.10, up over 2 per cent on the NSE from Monday’s closing price.  

3) Cipla shares ended at Rs 1,122.10, up around 2 per cent on the NSE from Monday’s closing price.  

4) Hero Moto shares ended at Rs 2,832.00, up around 1.8 per cent on the NSE from Monday’s closing price. 

5) Sun Pharma shares ended at Rs 1,050.50, up over 1.5 per cent on the NSE from Monday’s closing price  

Nifty50 Top Losers:  

1) IndusInd Bank shares ended at Rs 1,180.00, down around 1.5 per cent on the NSE from Monday’s closing price.  

2) Coal India shares ended at Rs 226.55, down around 1.5 per cent on the NSE from Monday’s closing price.  

3) Bajaj Finserv Bank shares ended at Rs 1,633.00 down over 1 per cent on the NSE from Monday’s closing price.  

4) Eicher Motor shares ended at Rs 3,410.00, down around 1 per cent on the NSE from Monday’s closing price.  

5) Power Grid shares ended at Rs 219.50, down around 1 per cent on the NSE from Monday’s closing price.  

Sensex Top Gainers:  

1) HUL shares ended at Rs 2633.40, up over 4 per cent on the BSE from Monday’s closing price.  

2) Sun Pharma shares ended at Rs 1049.15, up over 1.5 per cent on the BSE from Monday’s closing price.  

3) Nestle India shares ended at Rs 20081.80, up over 1 per cent on the BSE from Monday’s closing price. 

4) Dr Reddy’s shares ended at Rs 4452.15, up over 1 per cent on the BSE from Monday’s closing price. 

5) Tata Steel shares ended at Rs 106.10, up over 1 per cent on the BSE from Monday’s closing price  

Sensex Top Losers:  

1) IndusInd Bank shares ended at Rs 1180.00, down around 1.5 per cent on the BSE from Monday’s closing price.  

2) Bajaj Finserv shares ended at Rs 1632.20, down over 1 per cent on the BSE from Monday’s closing price.  

3) Maruti shares ended at Rs 8916.65, down around 1 per cent on the BSE from Monday’s closing price. 

4) Power Grid shares ended at Rs 219.30, down around 1 per cent on the BSE from Monday’s closing price.  

5) Larsen and Toubro shares ended at Rs 2049.65, down over 0.5 per cent on the BSE from Monday’s closing price.