Nifty, Sensex Gainers & Losers: M&M, Power Grid and TCS show potential upside between 9-19% - Should you Buy?

The Indian markets snapped a two-day losing streak to close positive on Monday as the benchmark indices – NSE Nifty and BSE Sensex – each gained around 1 per cent following heavy buying in banking, oil, and FMCG shares.

At the market close, the BSE Sensex jumped 468.38 points or 0.76 per cent to settle at 61,806.19, while the Nifty50 climbed 151.45 points or 0.83 per cent to end at 18,420.45. Both these indices had declined by more than 2 per cent in the last two sessions.

From the Sensex pack, Mahindra & Mahindra, Power Grid, Bharti Airtel, Bajaj Finserv, HDFC, Hindustan Unilever, Maruti, ITC, Titan, Nestle, Bajaj Finance and Reliance Industries were the major winners. Whereas TCS, Infosys, Tata Motors, and IndusInd Bank were among the laggards.

Also Read: Stock Market HIGHLIGHTS: Sensex, Nifty break two-day losing streak; auto, FMCG stocks unleash bulls

Below are three heavyweights that closed as top gainers/losers on Monday

Mahindra and Mahindra (M&M): BUY – Target: Rs 1496, Upside: 16%

Shares of Mahindra and Mahindra have closed as top Sensex gainer on Monday. The stock surged around 3 per cent to Rs 1288.60 per share on the BSE against 0.76 per cent rise in the Sensex.

On the back of multiple triggers such as Q2 steady performance, strong automotive segment with tractor earnings gain momentum and strong order book, which prompts capacity expansion, Milind Raginwar, Research Analyst, BoB Capitals give BUY rating with a target price of Rs 1,496 per share.

Power Grid Corporation: Buy – Target: 260; Upside: 19%

Shares of Power Grid have closed among top gainers on Nifty and Sensex on Monday. The counter closed around 3 per cent to Rs 218 per share on the NSE and BSE.

Power Grid de-rated consistently for five years until 2020 as earnings growth slowed and private sector competition picked up, Jefferies report said, adding that this trend should continue to reverse as capex/capitalisation picks up post FY23E due to transmission capex for renewable energy.

The global brokerage firm maintained a Buy rating on the stock with a target price of Rs 260 per share on the BSE, valuing it at 2.2x consol PB Sept'24E.

Tata Consultancy Services (TCS): Buy – Target: 3493; Upside: 9%

Shares of IT heavyweight TCS dipped more than 1 per cent to Rs 3201 per share levels on the NSE and BSE. The selling sentiment was seen across IT sector, which could be attributed to weak commentary from Accenture post reporting healthy September-November quarter results.

TCS continues to see strong demand momentum in the US markets but sees some slowdown in the European markets as geo‐political and macro concerns weigh, Moez Chandani, Research Analyst, Centrum Broking said in its report, maintaining an ADD rating with target of Rs 3,493 per share.

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List of top gainers and losers on Nifty and Sensex

Nifty50 Top Gainers:

1) Adani Ports shares ended at Rs 895.30, up over 4 per cent on the NSE from Friday’s closing price.

2) Adani Ent shares ended at Rs 4,101.00 up over 3 per cent on the NSE from Friday’s closing price.

3) M&M shares ended at Rs 1,289.00, up around 3 per cent on the NSE from Friday’s closing price.

4) Eicher Motor shares ended at Rs 3,382.00, up around 3 per cent on the NSE from Friday’s closing price.

5) Power Grid shares ended at Rs 218.85, up over 2.5 per cent on the NSE from Friday’s closing price

Nifty50 Top Losers:

1) TCS shares ended at Rs 3,205.25 down over 1 per cent on the NSE from Friday’s closing price.

2) ONGC shares ended at Rs 145.95, down around 1 per cent on the NSE from Friday’s closing price.

3) Tata Motors shares ended at Rs 418.05 down around 1 per cent on the NSE from Friday’s closing price.

4) Infosys shares ended at Rs 1,510.00, down around 1 per cent on the NSE from Friday’s closing price.

5) Sun Pharma shares ended at Rs 987.45 down over 0.5 per cent on the NSE from Friday’s closing price.

Sensex Top Gainers:

1) M&M shares ended at Rs 1290.40, up over 3 per cent on the BSE from Friday’s closing price.

2) Power Grid shares ended at Rs 218.80, around 3 per cent on the BSE from Friday’s closing price.

3) Bharti Airtel shares ended at Rs 839.80, up over 2 per cent on the BSE from Friday’s closing price.

4) Bajaj Finserv shares ended at Rs 1618.90, up 2 per cent on the BSE from Friday’s closing price.

5) Hindustan Unilever shares ended at Rs 2717.70, up around 2 per cent on the BSE from Friday’s closing price.

Sensex Top Losers:

1) TCS shares ended at Rs 3201.60, down by over 1 per cent on the BSE from Friday’s closing price.

2) Infosys shares ended at Rs 1507.60, down around 1 per cent on the BSE from Friday’s closing price.

3) Tata Motors shares ended at Rs 417.90, down around 1 per cent on the BSE from Friday’s closing price.

4) Sun Pharma shares ended at Rs 987.90, down over 0.5 per cent on the BSE from Friday’s closing price.

5) IndusInd Bank shares ended at Rs 1222.65, down 0.5 per cent on the BSE from Friday’s closing price.