Nifty, Sensex Top Gainers & Losers: IndusInd Bank, NTPC end as top NSE, BSE gainers; BPCL reverses trend, slips 1% - what should investors do?

Nifty, Sensex Top Gainers & Losers: The Indian markets on Tuesday snapped a three-day losing streak to close positive as the benchmark indices gained around 0.5 per cent each supported by IT and Metal. Both Nifty and Sensex ended today’s session near 18250 and 61,500 levels, respectively. 

Meanwhile, the broader markets such as Nifty Midcap and Smallcap also closed in the green. The former was up over 0.5 per cent and the latter concluded flat with positive bias. Sectorally, almost all indices closed in the green, except Nifty Realty – down over 1 per cent. 

Among heavyweights, IndusInd Bank, NTPC, JSW Steel, and HDFC Life were among the top gainers, while BPCL, Nestle India, Bharti Airtel, and Power closed as among the top losers today. 

IndusInd Bank: Buy – Target: Rs 1,450; Upside: 24% 

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Shares of IndusInd Bank closed as top Nifty and Sensex gainer on Tuesday, it surged around 2.5 per cent to Rs 1167 and Rs 1169 per share levels on the NSE and BSE. 

According to IDBI Capital Research Analyst Bunty Chawla, “Continuation of the business strategy of IndusInd Bank under the new CEO has resulted in navigating through asset quality concerns better. Bank’s focus back to sustainable growth trajectory should result in re-rating.” 

Estimates revised slightly upwards and maintained a BUY rating with a target of Rs 1,450 apiece at P/ABV of 1.8x FY24E with better clarity on MFI (Microfinance institutions) book, the analyst said. 

NTPC: Buy – Target: Rs 192; Upside: 15% 

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HDFC Securities, Research Analyst, Anuj Upadhyay said, “Management plans to dilute a 10-20 per cent stake in its renewable business portfolio of 2.9GW by Q4FY23, which will enhance the value proposition for stakeholders.” 

The analyst further said, “We maintain BUY with a target of Rs 192 a share, assigning a 1.3x BV to its regulated equity and a 1.1x BV to its equity investment in 12GW of new solar capacities. 

Bharat Petroleum Corporation Limited (BPCL): Reduce – Target: 265; Downside: 13% 

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As crude prices remain elevated in the near term, Oil Marketing Companies (OMCs) such as BPCL will be unable to raise auto-fuel prices, similarly, marketing margins will be impacted in FY24F as well, Hemang Khanna, Research Analyst, Nomura said in its report on the company. 

“We cut EPS estimates sharply for FY23F and FY24F on elevated debt levels and muted outlook. We downgrade the stock to Reduce given the unfavorable outlook with a target of Rs 265 per share,” the analyst said, adding that the stock is currently trading at 1.3x FY24F P/B. 

Nifty50 Top Gainers:   

1) IndusInd Bank shares ended at Rs 1,172.40, up around 3 per cent on the NSE from Monday’s closing price.   

2) NTPC shares ended at Rs 167.10, up over 1.5 per cent on the NSE from Monday’s closing price.   

3) JSW Steel shares ended at Rs 707.30, up over 1.5 per cent on the NSE from Monday’s closing price.   

4) HDFC Life shares ended at Rs 540.05, up around 1.5 per cent on the NSE from Monday’s closing price.  

5) UltraTech Cement shares ended at Rs 6,852.00, up around 1.5 per cent on the NSE from Monday’s closing price   

Nifty50 Top Losers:   

1) BPCL shares ended at Rs 306.65, down over 1 per cent on the NSE from Monday’s closing price.   

2) Nestle India shares ended at Rs 19,619.00 down around 1 per cent on the NSE from Monday’s closing price.   

3) Bharti Airtel shares ended at Rs 847.85, down around 0.4 per cent on the NSE from Monday’s closing price.   

4) Power Grid shares ended at Rs 218.25, down around 0.4 per cent on the NSE from Monday’s closing price.   

5) Kotak Bank shares ended at Rs 1,939.65, down over 0.2 per cent on the NSE from Monday’s closing price.   

Sensex Top Gainers:   

1) IndusInd Bank shares ended at Rs 1169.55, up over 2.5 per cent on the BSE from Monday’s closing price.   

2) NTPC shares ended at Rs 167.00, up over 1.5 per cent on the BSE from Monday’s closing price.   

3) UltraTech Cement shares ended at Rs 6852.80, up over 1.5 per cent on the BSE from Monday’s closing price. 

4) Titan shares ended at Rs 2606.10, up over 1 per cent on the BSE from Monday’s closing price.  

5) Infosys shares ended at Rs 1585.60, up over 1 per cent on the BSE from Monday’s closing price   

Sensex Top Losers:   

1) Nestle India shares ended at Rs 19607.35, down around 1 per cent on the BSE from Monday’s closing price.   

2) Bharti Airtel shares ended at Rs 847.15, down around 0.5 per cent on the BSE from Monday’s closing price.   

3) Power Grid shares ended at Rs 218.15, down around 0.4 per cent on the BSE from Monday’s closing price.  

4) HDFC Bank shares ended at Rs 1593.90, down around 0.2 per cent on the BSE from Monday’s closing price.   

5) Kotak Bank shares ended at Rs 1940.85, down over 0.1 per cent on the BSE from Monday’s closing price.