Nifty, Sensex Gainers & Losers: Apollo Hospital, SBI end as top NSE, BSE gainer; Hero Moto among top losers – should you Buy, Sell or Hold?

Nifty, Sensex, top gainers, top losers, Apollo Hospital, SBI, Hero MotoCorp, nse, bse: The Indian markets continue their gaining streak for the second straight session on Wednesday as both the benchmark indices closed marginally higher around 1.5 per cent on the back of buying in banking counters and a firm trend in global markets.

Continuing its previous day's rally, the 30-share BSE Sensex climbed 91.62 points to settle at 61,510.58 and the Nifty gained 23.05 points to end at 18,267.25.

From the Sensex pack, State Bank of India, Bajaj Finance, Dr Reddy's, Kotak Mahindra Bank, Sun Pharma, Maruti, NTPC, Axis Bank and ICICI Bank were among the major winners. While Power Grid, Tech Mahindra, Titan, Bharti Airtel and Bajaj Finserv were among the laggards.

Apollo Hospital Enterprise: Buy – Target Price: Rs 5260; Upside: 14%

Shares of Apollo Hospital Enterprise closed as top Nifty gainer on Wednesday, up over 3 per cent to Rs 4610 apiece on the NSE as compared to a 0.13 per cent rise in the benchmark index.

The healthcare vertical is poised to deliver superior growth in the next 1-2 years through better asset utilisation and an increase in ARPOBs (Average Revenue Per Occupied bed), Dhara Patwa, Sector Lead – Pharma & Healthcare, SMIFS Limited said in a report on the hospital chain.

Apollo Hospital should also continue with its superior growth trajectory, especially in the diagnostics business, which should achieve a revenue of Rs 5000 Mn in FY23 and Rs 10,000 Mn in the next 3-4 years, Patwa said, assigning a Buy rating with a target of Rs 5260 apiece, implying 14 per cent upside.

State Bank of India (SBI): BUY – Target Price: Rs 715; Upside: 18%

Share of SBI closed as the top Sensex gainer on Wednesday, it jumped over 1 per cent to Rs 607 per share on the BSE as compared to a 0.15 per cent surge in the frontline index.

SBI has seen steady improvement in asset quality, with Net NPA (non-performing asset) now below 1 per cent, given its aggressive provisioning stance; the restructured pool too moderated to 0.9 per cent of loans, Heet Khimawat, Research Analyst, Emkay Research said in a report on the bank.

Factoring in better growth/margins, we raise our earnings for FY23-25E by 10-14 per cent and expect the bank to report RoE of 15-18 per cent without equity dilution, the analyst said, retaining a Buy stance on the stock, with a target of Rs 715 apiece, implying 18 per cent upside.

Hero MotoCorp: Hold – Target Price: Rs 2712; Upside: 2%

Shares of Hero MotoCorp closed as among the top Nifty losers on Wednesday, the counter slipped over 1 per cent to Rs 2652 apiece on the NSE.

“We model for a revenue/EBITDA/adj. PAT CAGR of 9/7/2 per cent, respectively, over FY20-FY25, with EBITDA margin averaging at around 13 per cent. Our FY23/FY24/ FY25 EPS estimates stand at Rs 133/Rs 174/Rs 200, respectively,” Milind Raginwar, Research Analyst, BoBCaps said in a report.

Valuing Hero Motor at 15x FY24E EPS – in line with its 10Y mean – and including Rs 100 as the value for other business, Raginwar has recommended to Hold with a target of Rs 2,712 per share, implying a limited upside of 2 per cent.

Nifty50 Top Gainers:  

1) Apollo Hospital shares ended at Rs 4,610.00, up over 3 per cent on the NSE from Tuesday’s closing price.  

2) HDFC Life shares ended at Rs 548.00, up around 1.5 per cent on the NSE from Tuesday’s closing price.  

3) JSW Steel shares ended at Rs 718.55, up around 1.5 per cent on the NSE from Tuesday’s closing price.  

4) Bajaj Finance shares ended at Rs 6,775.00, up over 1 per cent on the NSE from Tuesday’s closing price. 

5) SBI shares ended at Rs 607.10, up over 1 per cent on the NSE from Tuesday’s closing price  

Nifty50 Top Losers:  

1) Adani Ent shares ended at Rs 3,897.00, down around 3.5 per cent on the NSE from Tuesday’s closing price.  

2) Adani Ports shares ended at Rs 870.00 down around 1.5 per cent on the NSE from Tuesday’s closing price.  

3) Hero Moto shares ended at Rs 2,652.35, down over 1 per cent on the NSE from Tuesday’s closing price.  

4) Power Grid shares ended at Rs 215.40, down over 1 per cent on the NSE from Tuesday’s closing price.  

5) Tech Mahindra shares ended at Rs 1,042.90, down over 0.5 per cent on the NSE from Tuesday’s closing price.  

Sensex Top Gainers:  

1) SBI shares ended at Rs 607.75, up around 1.5 per cent on the BSE from Tuesday’s closing price.  

2) Bajaj Finance shares ended at Rs 6779.60, up around 1.5 per cent on the BSE from Tuesday’s closing price.  

3) Dr Reddy shares ended at Rs 4419.15, up over 1 per cent on the BSE from Tuesday’s closing price.

4) Sun Pharma shares ended at Rs 1018.00, up over 0.5 per cent on the BSE from Tuesday’s closing price. 

5) Maruti shares ended at Rs 8936.30, up over 0.5 per cent on the BSE from Tuesday’s closing price  

Sensex Top Losers:  

1) Power Grid shares ended at Rs 215.15, down over 1 per cent on the BSE from Tuesday’s closing price.  

2) Tech Mahindra shares ended at Rs 1044.15, down over 0.5 per cent on the BSE from Tuesday’s closing price.  

3) Bharti Airtel shares ended at Rs 842.55, down over 0.5 per cent on the BSE from Tuesday’s closing price. 

4) HUL shares ended at Rs 2505.00, down around 0.5 per cent on the BSE from Tuesday’s closing price.  

5) Bajaj Finserv shares ended at Rs 8936.30, down around 0.5 per cent on the BSE from Tuesday’s closing price.