Nifty, Sensex Top Gainers & Losers: Apollo Hospital, Tech Mahindra end as top NSE, BSE gainers; M&M down 2% - What should investors do?

Nifty, Sensex Top Gainers & Losers: The Indian markets witnessed profit-taking and lost over half a percent on Friday, taking a breather after the recent surge. After the flat start, the Nifty index gradually inched lower in the first half, followed by range-bound movement till the end.

Consequently, the Nifty index settled at 18,695 — down by 0.62 per cent. Meanwhile, sectoral pack traded mixed wherein realty and metal counters were in the limelight while auto and energy traded subdued. Amid all, the buoyancy on the broader front kept the traders busy till the end.

“Indications are in the favour of further consolidation in the index but the tone would remain positive till Nifty upholds 18,300. And, since all the sectors are participating in the move, traders should utilize this phase to add quality names on dips,” Ajit Mishra, VP - Technical Research, Religare Broking said.

Apollo Hospital Enterprise: Outperform – Target Price: Rs 5100; Upside: 5%

For the second straight session shares of Apollo Hospital Enterprise closed as top Nifty gainer today, up around 2 per cent to Rs 4,865 apiece on the NSE as compared to an over 0.5 per cent fall in the benchmark index.

Street sentiment turned positive on the stock with the company cementing its position in digital health services and strong momentum in app downloads. Brokerage firm Credit Suisse in its report said that it is bullish on the counter and gave 'outperform' rating with target of Rs 5100 apiece.

Tech Mahindra: Sell – Target: Rs 980; Downside: 12%

Shares of Tech Mahindra closed as among the top gainers on NSE and BSE, up around 1 per cent to Rs 1038.5 apiece on the NSE and Rs 1114 apiece on the BSE.

Mitul Shah, Research Analyst, Reliance Securities said that IT Services would not remain immune to worsening global macros in terms of rising inflation, economic slowdown, currency headwinds, and likely cut on spending.

"Revenue growth would taper down to a low double-digit in FY24E and expect a sequential decline in a deal win, clear margin pressure, and lower pricing power going ahead which would impact the company’s performance," the analyst said, maintaining SELL rating with a target of Rs 980 apiece.

Mahindra & Mahindra (M&M): Buy – Target: Rs 1,126.5; Upside: 41%

Shares of M&M ended among top Nifty and Sensex gainers on Friday. The stock declined over 2 per cent to Rs 1266.5 per share on the BSE as compared to a 0.66 per cent rise in the BSE Sensex.

M&M’s stock price has grown at 12.8 per cent CAGR (Compound Annual Growth Rate) from Rs 710 levels in November 2017, outperforming the wider Nifty Auto index, Shashank Kanodia, Research Analyst, ICICI Securities said in a report on the company.

“We retain BUY rating on the stock with a target of Rs 1,590 per share amid sturdy demand prospects across M&M’s product profile, record order-book, firm commitment towards the EV (electric vehicle) space and gross margin expansion on the anvil starting Q2FY23,” the analyst said.

Nifty50 Top Gainers:

1) Apollo Hospital shares ended at Rs 4,864.90, up around 2 per cent on the NSE from Thursday’s closing price.

2) Tech Mahindra shares ended at Rs 1,114.00, up over 1 per cent on the NSE from Thursday’s closing price.

3) Dr Reddy shares ended at Rs 4,521.00, up over 1 per cent on the NSE from Thursday’s closing price.

4) Tata Steel shares ended at Rs 111.85, up around 1 per cent on the NSE from Thursday’s closing price.

5) Grasim shares ended at Rs 1,817.40, up around 1 per cent on the NSE from Thursday’s closing price

Nifty50 Top Losers:

1) Eicher Motor shares ended at Rs 3,331.00, down over 3 per cent on the NSE from Thursday’s closing price.

2) Tata Consumer shares ended at Rs 795.05, down over 2 per cent on the NSE from Thursday’s closing price.

3) M&M shares ended at Rs 1,266.95 down over 2 per cent on the NSE from Thursday’s closing price.

4) Hero Moto shares ended at Rs 2,816.05, down around 2 per cent on the NSE from Thursday’s closing price.

5) Hero Moto shares ended at Rs 2,620.00, down over 1.5 per cent on the NSE from Thursday’s closing price.

Sensex Top Gainers:

1) Tata Steel shares ended at Rs 112.05, up over 1 per cent on the BSE from Thursday’s closing price.

2) Dr Reddy shares ended at Rs 4525, up over 1 per cent on the BSE from Thursday’s closing price.

3) Tech Mahindra shares ended at Rs 1114.55, up over 1 per cent on the BSE from Thursday’s closing price.

4) IndusInd Bank shares ended at Rs 1179.9, up over 0.5 per cent on the BSE from Thursday’s closing price.

5) Bajaj Finserv shares ended at Rs 1642.95, up over 0.24 per cent on the BSE from Thursday’s closing price

Sensex Top Losers:

1) M&M shares ended at Rs 1266.50, down over 2 per cent on the BSE from Thursday’s closing price.

2) HUL shares ended at Rs 2615.30, down around 2 per cent on the BSE from Thursday’s closing price.

3) Maruti Tech shares ended at Rs 8815.10, down over 1.5 per cent on the BSE from Thursday’s closing price.

4) Nestle India shares ended at Rs 19745.05, down over 1.5 per cent on the BSE from Thursday’s closing price.

5) HDFC shares ended at Rs 1044.35, down over 1 per cent on the BSE from Thursday’s closing price.