Nifty, Sensex Top Gainers and Losers: Divi’s Lab, NTPC gain; Axis Bank top loser – what should investors do?

Nifty, Sensex Top Gainers, and Losers: The Indian market extended its winning streak for the fourth straight session on Tuesday as both the benchmark indices closed over 0.5 per cent higher amid positive global cues. Nifty and Sensex settled at key levels today, around 18150 and 61100, respectively. 

Almost all sectoral indices closed in the green, except for Nifty Bank and Media. Nifty Metal and Pharma aided the market most to gain, up over 2 per cent, similarly, Nifty IT and Realty too surged between 1-2 per cent at the close. 

Among heavyweights, the stocks that soared most were Adani Enterprises, Divi’s Laboratories, NTPC and PowerGrid, while Axis Bank and UPL were among the top laggards on Tuesday. 

Divi’s Laboratories  

Divi’s management has maintained an optimistic outlook aided by several projects related to its six growth engines going on stream in the next two years. However, Kotak Institutional Equities believe the recovery in generic APIs (Active Pharmaceutical Ingredient) is unlikely to help bridge the gap from lower Molnupiravir sales henceforth resulting in just 2 per cent EPS CAGR over FY2022-25E. 

Despite the recent correction, valuations remain elevated with Divi’s witnessing a lower derating versus its global peers in FY22, the domestic brokerage said, maintaining a Reduce stance with a target price of Rs 3,475 a share. The stock on Monday closed as one of the top gainers up 6 per cent. 

NTPC 

State-owned NTPC shares also concluded as one of the top gainers, up over 5 per cent on Tuesday. The power generation company on Saturday reported strong second-quarter results on all fronts except the margins – which came below Zee Business expectations.  

The stock on Monday closed flat with a negative bias, however, aided most to the frontline indices on Tuesday.  

NTPC plans to add 60 GigaWatt of RES capacity by FY32, and it has around 2GW of this operation and another 6.3GW under construction, HDFC Securities said. “Along with strong Capex on the thermal front, this should drive earnings growth at 7.3 per cent CAGR over FY22-24E and improve the RoE.” 

Further, it plans to monetise its renewable business in FY23, the domestic brokerage said maintaining a Buy rating on the stock. 

Axis Bank 

Axis Bank shares closed as one of the top losers on Tuesday, down over 3 per cent dragging the overall Nifty Bank index. The weakness in the stock came after Bain Capital sells 1.3 per cent stake in the private lender.  

Philip Capital upgrades FY23/24E earnings by 30/10 per cent, respectively, due to higher NII (net interest income) and lower provisions. The domestic brokerage reiterates a Buy rating with a target price of Rs 1080 per share. 

Nifty50 Top Gainers: 

1) Adani Ent shares ended at Rs 3,579.80, up around 7 per cent on the NSE from Monday’s closing price. 

2) Divi’s Laboratories shares ended at Rs 3,829.10, up over 6 per cent on the NSE from Monday’s closing price. 

3) NTPC shares ended at Rs 182.00, up over 5 per cent on the NSE from Monday’s closing price. 

4) Power Grid shares ended at Rs 234.80, up around 3 per cent on the NSE from Monday’s closing price. 

5) Graim shares ended at Rs 1,764.95, up over 2.5 per cent on the NSE from Monday’s closing price. 

Nifty50 Top Losers: 

1) Axis Bank shares ended at Rs 871.50, down around 4 per cent on the NSE from Monday’s closing price. 

2) UPL shares ended at Rs 1,844.50, down over 1.5 per cent on the NSE from Monday’s closing price. 

3) Eicher Motors shares ended at Rs 3,796.00, down around 1.5 per cent on the NSE from Monday’s closing price. 

4) Maruti shares ended at Rs 9,435.00, down around 1 per cent on the NSE from Monday’s closing price. 

5) Reliance Industries shares ended at Rs 2,531.70, down over 0.5 per cent on the NSE from Monday’s closing price. 

Sensex Top Gainers: 

1) NTPC shares ended at Rs 181.75, up 5 per cent on the BSE from Monday’s closing price. 

2) Power Grid shares ended at Rs 235.10, up over 3 per cent on the BSE from Monday’s closing price. 

3) Dr Reddy’s shares ended at Rs 4537.25, around 2.5 per cent on the BSE from Monday’s closing price. 

4) Infosys shares ended at Rs 1572.75, up over 2 per cent on the BSE from Monday’s closing price. 

5) TCS shares ended at Rs 3259.60, up over 2 per cent on the BSE from Monday’s closing price. 

Sensex Top Losers: 

1) Axis Bank shares ended at Rs 871.75, down around 4 per cent on the BSE from Monday’s closing price. 

2) Maruti shares ended at Rs 9436.00, down around 1 per cent on the BSE from Monday’s closing price. 

3) Reliance shares ended at Rs 2529.75, down around 1 per cent on the BSE from Monday’s closing price. 

4) Tata Steel shares ended at Rs 101.20, down around 0.3 per cent on the BSE from Monday’s closing price.