Top Gainers & Losers: HDFC twins worst hit among blue-chip stocks; Titan, Maruti Suzuki gain

Top Gainers & Losers: Indian equity benchmarks Sensex and Nifty 50 fell more than one per cent on Friday amid weakness by financial, IT and metal shares. HDFC and HDFC Bank posed the maximum pressure on both gauges.

The Sensex lost 695 points for the day to settle at 61,054.3 and the Nifty shed 186.8 points to end at 18,069.

In the Nifty basket, HDFC Bank tumbled 5.8 per cent and HDFC 5.6 per cent, after reports suggested their combine could see significant outflow. IndusInd Bank, Hindalco and Tata Steel were the other major laggards.

Titan, Maruti, UltraTech Cement, Nestle and Apollo Hospitals, on the other hand, were among the gainers.

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

Titan

Titan was among the top gainers on Nifty50, rising two per cent for the day to close at Rs 2,732 apiece on NSE.

Phillip Capital has maintained a 'buy' rating on Titan with a target price of Rs 3,000, which translates to upside potential of 9.8 per cent. The brokerage is cautiously optimistic on Titan.

Image: NSE

Maruti Suzuki 

Maruti Suzuki shares rose one per cent to end at Rs 8,950 apiece on NSE.

BoB Capital has given a 'hold' rating on Maruti Suzuki with a target price of Rs 9,858 apiece (10 per cent).

According to the brokerage, despite an upbeat growth outlook, positives appear largely factored into Maruti Suzuki's current valuation of 21 times the estimated earnigns per share for the year ending March 2025.

Image: NSE

HDFC Bank

HDFC Bank was the top loser on Nifty50 after MSCI said it would adjust the index weightage factor to 0.5 from the earlier expected 1.0 in view of the upcoming merger.

Elara Capital has maintained a 'buy' on HDFC Bank with a target price of Rs 2,013 apiece (23.7 per cent upside).

"We, in our estimates, have factored in the entire impact of PSL shortfall in FY24. With this dispensation, the PSL cost, if any, may be felt only in FY25. Thus, as a result of consequent changes, we upgrade our FY24E earnings two per cent. Also, assuming that the stake in HDFC Life insurance may rise to 51, our subsidiary consideration in SoTP has also changed," Elara Capital said.

Image: NSE

HDFC 

HDFC shares finished at Rs 2702.9 apiece on NSE after the MSCI news.

Macquarie has maintained an ‘outperform’ rating on HDFC with a target price of Rs 3,060 apiece (13.2 per cent upside).

The brokerage believes that the company has had a stable March quarter as expected but now the focus will be on the merger.

Image: NSE

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