Top Gainers & Losers: Tata Motors and IndusInd Bank rise among blue chip stocks; Coal India dips nearly 2%

Top Gainers & Losers: Indian equity benchmark BSE Sensex rebounded more than 1 per cent while Nifty reclaimed the 18,200 level on Monday, boosted by heavy buying in banking, financial and auto stocks amid a rally in global stock markets.

Besides, continuous foreign fund inflows further bolstered sentiment, traders said.

BSE Sensex rallied 709.96 points or 1.16 per cent to settle at 61,764.25 and NSE Nifty climbed 195.40 points or 1.08 per cent to end at 18,264.40.

Among the Nifty firms, IndusInd Bank, Tata Motors, Bajaj Finance, Bajaj Finserv, and ONGC

Value buying in index heavyweights Reliance, HDFC Bank and ICICI Bank added to the momentum.

Coal India, Adani Enterprises, Sun Pharma, Dr Reddy's Laboratories, and Britannia were the laggards.

Here are some of the blue-chip stocks that moved the most on Monday:

IndusInd Bank

IndusInd Bank was among the top gainers on Nifty50, rising over five per cent for the day to close at Rs 1,128.3 apiece on NSE.

Nuvama has maintained a 'buy' rating on IndusInd with a target price of Rs 1,280, which translates to upside potential of 13.4 per cent. The brokerage believes that IndusInd Bank steadily is improving on most parameters. We expect this trend to sustain going forward.

Image: NSE 

Tata Motors

Tata Motors shares rose nearly 5 per cent to end at Rs 500.55 apiece on NSE.

Nomura has given a 'buy' rating on Tata Motors with a target price of Rs 508 apiece (1.5 per cent).

In brokerage's view, Jaguar Land Rover has the potential to be net debt-free by FY25F. 

Image: NSE

Coal India

Coal India was the top loser on Nifty50. Shares of Coal India declined nearly 2 per cent at Rs 233.05 apiece.

ICICI Direct has maintained a 'buy' on Coal India with a target price of Rs 260 apiece (11.6 per cent upside).

The brokerage expects healthy traction in volumes to continue the way forward. 

Image: NSE

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