Nifty, Sensex Top Gainers and Losers: Tata Consumer, L&T end session as top NSE, BSE gainer; Titan slips over 2% - what should investors do?

Nifty, Sensex Top Gainers, Top Losers, Tata Consumer, L&T, Titan: The Indian markets snapped a two-day gaining streak to end negative on Thursday as both the benchmark indices closed around 0.4 per cent lower. Frontline indices – Nifty and Sensex – settled above 18,300 and 61,750, respectively today.  

Meanwhile, the broader markets such as Nifty Midcap and Smallcap followed the benchmarks suite to end between 0.3 and 0.4 per cent lower, respectively. The 12-share banking index – Nifty Bank too witnessed selling pressure as it closed nearly 0.2 per cent lower to 42,458 levels today.  

Except for Nifty PSU Bank and Realty, all sectoral indices closed in red. Nifty Auto, followed by Financials dragged the market most on Thursday. Among heavyweights – Tata Consumer, L&T, ICICI Bank, Power Grid, were among the top gainers, while Titan, M&M, Maruti, Tata Motors top laggards.   

Tata Consumer Products: Buy – Target: 900; Upside: 15% 

Shares of Tata Consumer Products closed as top Nifty gainer on Thursday. The stock gained around 2 per cent to Rs 785 per share on the NSE as compared to 0.36 per cent fall in the Nifty index. 

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“We maintain Buy on stock with target of Rs 900 (55x Sept-24 EPS), as its operating margin should rise EBITDA CAGR of 13 per cent over FY22-25,” Vishal Gutka, Research Analyst at Philip Capital said in a report on Tata Consumer. 

The analyst further added that the troika of price hikes, premiumization and cost efficiencies program, should negate the adverse impact of higher raw material to a large extent. 

Larsen and Toubro (L&T): Add – Target: Rs 2262; Upside: 12% 

Shares of L&T closed as top Sensex gainer on Thursday. The stock jumped over 1 per cent to Rs 2029 per share on the BSE as compared to 0.37 per cent fall in the S&P BSE Sensex. 

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The government’s focus on the national monetisation pipeline is providing impetus to asset sale prospects, especially Nabha Power and Hyderabad Metro, which are under L&T, Rahul Modi, Research Analyst at ICICI Securities said in a report. 

“We remain positive on L&T as the best infrastructure player in the country. However, due to the recent stock price run-up, we downgrade the stock to ADD from BUY with a target of Rs 2,262,” he added.  

Titan Company: Buy – Target: Rs 3,240; Upside: 25% 

Shares of Titan closed as a top loser on both NSE and BSE. The stock declined over 2 per cent to settle at Rs 2584 per share on Thursday.  

Titan has been an exceptional performer in the discretionary space with stock price appreciating at around 30 per cent CAGR (Compound Annual Growth Rate) in last five years, Bharat Chhoda, Research Analyst at ICICI Securities said in a report on the company. 

“We continue to remain structurally positive on the stock as high growth visibility justifies premium valuations,” the analyst said maintaining a Buy rating on the stock with target of Rs 3240 apiece. 

Nifty50 Top Gainers:    

1) Tata Consumer shares ended at Rs 784.50, up around 2 per cent on the NSE from Wednesday’s closing price.    

2) Adani Ent shares ended at Rs 4,017.00, up over 1.5 per cent on the NSE from Wednesday’s closing price.    

3) L&T shares ended at Rs 2,029.00, up over 1 per cent on the NSE from Wednesday’s closing price.    

4) Power Grid shares ended at Rs 218.60, around 0.7 per cent on the NSE from Wednesday’s closing price.    

5) HDFC Life shares ended at Rs 531.25, up 0.6 per cent on the NSE from Wednesday’s closing price.    

Nifty50 Top Losers:    

1) Titan shares ended at Rs 2,583.95, down over 2 per cent on the NSE from Wednesday’s closing price.  

2) M&M shares ended at Rs 1,259.00, down over 2 per cent on the NSE from Wednesday’s closing price.    

3) Tata Motors shares ended at Rs 422.90, down 2 per cent on the NSE from Wednesday’s closing price.    

4) Eicher Motor shares ended at Rs 3,439.00, around 2 per cent on the NSE from Wednesday’s closing price.    

5) Apollo Hospital shares ended at Rs 4,400.05, down around 2 per cent on the NSE from Wednesday’s closing price.    

Sensex Top Gainers:    

1) L&T shares ended at Rs 2028.30, up over 1 per cent on the BSE from Tuesday’s closing price.    

2) ICICI Bank shares ended at Rs 919.40, up over 0.5 per cent on the BSE from Tuesday’s closing price.    

3) Bharti Airtel shares ended at Rs 845.90, up over 0.5 per cent on the BSE from Tuesday’s closing price.    

4) Power Grid shares ended at Rs 218.40, up over 0.5 per cent on the BSE from Tuesday’s closing price.   

5) Axis Bank ended at Rs 858.00, up around 0.4 per cent on the BSE from Tuesday’s closing price    

Sensex Top Losers:    

1) Titan shares ended at Rs 2584.90, down over 2 per cent on the BSE from Tuesday’s closing price.    

2) M&M shares ended at Rs 1258.25, down over 2 per cent on the BSE from Tuesday’s closing price.    

3) Maruti shares ended at Rs 8985.85, down over 1.5 per cent on the BSE from Tuesday’s closing price.    

4) HDFC shares ended at Rs 2659.10, down over 1 per cent on the BSE from Tuesday’s closing price.   

5) Dr Reddy shares ended at Rs 4419.05, down over 1 per cent on the BSE from Tuesday’s closing price.