Top Gainers & Losers: ITC rises as stock to trade ex-dividend; Eicher Q3 result fails to impress investors — Check target price
Gainers and Losers: The broader NSE Nifty surged 158.95 points or 0.89 per cent to finish at 17,929.85.
Gainers and Losers: Equity benchmark indices ended in green as Sensex surged 600 points on Tuesday, propelled by market heavyweight RIL, ITC, banking and IT shares amid positive global cues.
The 30-share BSE Sensex ended 600.42 points or 0.99 per cent higher at 61,032.26.
The broader NSE Nifty surged 158.95 points or 0.89 per cent to finish at 17,929.85.
While UPL topped the Nifty gainers' chart, followed by ITC, Reliance, Adani Enterprises and Adani Ports; on the flipside, Apollo Hospital, Eicher Motors, SBI Life, BPCL and Grasim were among the major laggards.
According to Ajit Mishra, VP - Technical Research, Religare Broking Ltd, indications are favorable for further recovery and Nifty can see 18,200 levels.
However, he added that the move could be gradual citing restricted participation by select index heavyweights.
He suggested traders to align their positions accordingly and prefer index majors over others.
Here are some blue-chip stocks that saw maximum buzz today:
ITC
ITC stock rallied by Rs 11.75 or 3.14 per cent at Rs 385.95 apiece on NSE.
Image source: NSE
BOB Capital is bullish on ITC and has given a 'Buy' call for a target price of Rs 459 apiece (18.9 per cent upside). According to the report, the cigarettes business continues to deliver volume growth and market share gains in the absence of competition from illicit trade, with the recent tax hike unlikely to dent sales.
The brokerage firm further stated that the FMCG segment has outperformed some peers, and expects margins to improve as input costs soften.
ICICI Bank
ICICI Bank stock rose 1.78 per cent or Rs 15.15 at Rs 865.45 apiece on BSE.
Image source: NSE
Brokerage firm Phillip Capital has maintained a 'Buy' call on ICICI Bank with a target price of Rs 1,110 (28.3 per cent upside). According to the report, ICICI Bank is best placed among peer banks given its strong digital capabilities to underwrite loans at an accelerated pace.
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Phillip Capital believes that with strong balance sheet and capital position, the bank is geared to capitalise growth opportunity in the system.
Eicher Motors
Shares of Eicher Motors ended in red as the Q3 results failed to excite the D-Street. The stock closed at Rs 3,180 apiece — down by 2.23 per cent or Rs 72.65 on NSE.
Image source: NSE
JM Financial is bullish on Eicher Motors as it sees growth in the international market and believes that the new launches will drive performance.
Brokerage firm has recommended 'Bu' on Eicher Motors shares for a target price of Rs 3480 - 3545 apiece (9.4 per cent to 11.4 per cent upside).
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05:21 PM IST