Top Gainers, Losers: Auto and IT heavyweights aid D-Street to snap 3-day fall – Check target price

Top Gainers, Losers: The Indian markets on Monday halted three days declining trend by gaining more than 1 per cent, followed by positive global cues and buying in Auto and Tech stocks. The BSE Sensex gained nearly by 850 points and Nifty50 closed above a key level of 18,100 during today’s session.

At the market close, the BSE Sensex was up 847 points or 1.41 per cent to 60.747.31, while the NSE Nifty50 was up 242 points or 1.35 per cent to 18,101.2 levels. The broader markets too followed benchmarks to close higher as both Nifty Midcap/Smallcap 100 grew between 0.5-1 per cent.

Below is the list of top gainers/losers stocks on Monday

Mahindra and Mahindra (M&M): Buy – Target Price: Rs 1,590

M&M shares closed as a top Nifty50 and Sensex gainer on Monday. The stock jumped over 3.5 per cent to Rs 1,310.05 per share on the NSE. M&M shares lifted the Nifty Auto Index to become one of the top winners, up over 1 per cent today.

M&M is expected to report a robust performance in the third quarter of the financial year 2022-23 (Q3FY23), Raghvendra Goyal of ICICI Securities said in the brokerage's report. It maintained a Buy rating with a target price of Rs 1,590 apiece, ahead of its earnings later this month.

The company has shown a steady overall performance and is likely to strengthen it going forward as it has a strong order book, which prompts capacity expansion. Similarly, the automotive segment is strong with tractor earnings gaining momentum, Milind Raginwar of BoB Caps, said in his assessment.

Tata Consultancy Services (TCS): Buy – Target Price: Rs 3,672

TCS share price was among the top Nifty and Sensex gainers as it surged over 3 per cent to Rs 3,310.20 per share on the NSE. The counter grew amid better earnings expectations on Monday.

Chirag Kachhadiya, Research Analyst of Ashika Institutional Research, believes that the current recessionary environment is more technical in nature and short-lived. Margin recovery is expected in TCS as the operating cost equation reversal sign is visible and may benefit growth going forward.

The brokerage assigned a Buy rating on TCS with a target price of Rs 3,672 per share.

Titan: Buy – Target Price: Rs 2,910

Despite a healthy Q3 business update, Titan share price closed as the top Nifty and Sensex loser on Monday. The counter declined almost 2 per cent to Rs 2,489.95 per share on the NSE.

According to Krishnan Sambamoorthy, Research Analyst at Motilal Oswal, Titan remains an attractive investment case in the large-cap consumption space in India, with strong earnings growth visibility and compounding around 20 per cent for an elongated period.

The brokerage maintains a Buy rating on the stock with a target price of Rs 2,910 per share as it believes expensive valuations in the near term will be burnished by its rapid pace of growth.