Top Gainers & Losers: Cipla and Nestle India rise most among blue chip stocks, Titan dips over 1%

Top Gainers & Losers: Benchmark equity indices Sensex and Nifty ended lower on Tuesday as investors remained cautious amid disappointing earnings from IT majors TCS and Infosys.

Fall in index major Reliance Industries, HDFC Bank, and ICICI Bank and fresh foreign fund outflows also dented sentiment.

Reversing its early gains, BSE Sensex fell 183.74 points or 0.31 per cent to settle at 59,727.01 and NSE Nifty dipped 46.70 points or 0.26 per cent to end at 17,660.15.

Among the Nifty50 firms, Power Grid, UltraTech Cement, Adani Enterprises, Apollo Hospitals, and Titan were the major laggards.

Divi’s Laboratories, HCL Technologies, Cipla, IndusInd Bank, and Nestle India were among the gainers.

Here's a look at some of the blue-chip stocks that moved the most on Tuesday:

Cipla 

Cipla stock was among the top gainers on Nifty50, it climbed nearly 2 per cent to Rs 925.1 per share on the NSE.

Brokerage firm Investec has given a ‘buy’ call on Cipla for a target of Rs 1250 apiece which is an upside of 35.1 per cent.

Investec believes that Cipla continues to execute well in both India and the US. Given solid free cash flow and the right capital allocation could aid growth.

Pic: NSE

Nestle India 

Shares of Nestle India ended among the top gainers on Nifty50 and Sensex on Tuesday. The stock rose nearly 2 per cent to Rs 20,585.2 per share on the NSE. 

Axis Securities has recommended buying shares of Nestle India for a target price of Rs 21,700 apiece which is an upside of 5.4 per cent.

Brokerage is bullish on Nestle India as it consistently delivered resilient performance led by 

1) Efforts towards rural penetration and market share gains through the RURBAN strategy, 

2) Constant focus on innovation (launching 110+ products in the last seven years), 

3) Premiumisation in the core categories and launching differentiated products, 

4) Entry into new categories of the future (Purina Pet care and Gerber’s for toddlers), and 

5) Introduction of D2C platform to gauge consumer attention. 

Pic: NSE

Titan 

Titan's share price closed among the top losers on Nifty50 on Tuesday. The stock declined over 1 per cent to Rs 2,575 per share on the NSE.

The global brokerage has given an ‘overweight’ rating to Titan and has given a target price of Rs 3,000 which is an upside of 16.5 per cent. 

The brokerage believes market share gains to will drive growth and that the watchmaker is on the path to achieving its revenue target. 

Pic: NSE

Catch the latest stock market updates here. For more news on sports, politics follow Zee Business