The Indian markets ended marginally lower due to profit-booking by investors after two straight days of gains amid mixed global trends and foreign fund outflows.

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The BSE Sensex dipped 17.15 points or 0.03 per cent to settle at 60,910.28. The NSE Nifty went lower by 9.80 points or 0.05 per cent to end at 18,122.50.

From the Sensex pack, Bharti Airtel, Axis Bank, Bajaj Finserv, Tata Steel, UltraTech Cement, and Tata Motors were the major laggards. Titan, Mahindra & Mahindra, Power Grid, and Maruti were among the winners.

"Market wavered between gains and losses with investors taking their position around the flatline as mixed global cues troubled them to take a firm one-sided move," Vinod Nair, Head of Research at Geojit Financial Services, said.

Below are the projections of three large-cap stocks that featured among top gainers/losers on Wednesday —

Titan Company: Buy – Target: Rs 2,910; Upside: 13%

Titan Company was the top Nifty50 and Sensex gainer on Wednesday. The stock surged around 3 per cent to Rs 2,575 per share on the NSE against 0.05 per cent fall in Nifty50.

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

Expensive valuations in the near term will be burnished by its rapid pace of growth, the analyst said, maintaining a Buy rating with a target price of Rs 2,910 per share, implying 13 per cent upside and value stock at 60x Sep’24 EPS.

Mahindra & Mahindra (M&M): Buy – Target: Rs 1500; Upside: 20%

Shares of M&M closed among top Nifty and Sensex gainers on Wednesday. The scrip surged over 1.5 per cent to Rs 1,254.10 per share on the NSE.

M&M price hikes in the second and third quarter of this financial year and the benefit of softening commodity prices during the second half will aid margin performance going ahead, Vivek Kumar, Research Analyst, JM Financial said in a report on the auto major.

Driven by a new capital allocation policy and a strong demand tailwind in autos, the analyst maintained a BUY rating on the stock with a target price of Rs 1,500 per share, implying an upside of 20 per cent.

Bharti Airtel: Buy – Target: Rs 1010; Upside: 25%

Shares of Bharti Airtel closed as top Nifty50 and Sensex loser on Wednesday. The counter declined around 1.5 per cent to Rs 803.30 per share on the NSE.

Amid strong operational metrics, domestic brokerage firm Sharekhan reiterates a Buy on Bharti Airtel with a target price of Rs 1,010 per share, implying over 25 per cent upside in the stock.

The stock is the brokerage’s preferred pick in the telecom space on account of its industry-leading ARPU (average revenue per user), growing subscriber base coupled with increased data monetisation, and expectation of gradual tariff hikes in the telecom space.

With PTI Inputs