Top Gainers & Losers: Bajaj Finance and Bharti Airtel rise among blue chip stocks, HDFC Life Insurance dips over 3%

Top Gainers & Losers: Indian equity benchmarks Sensex and Nifty closed higher for the second straight session on Tuesday, helped by buying in power and utility stocks amid positive quarterly numbers announced by heavyweight companies.

In a highly volatile trade, the 30-share BSE Sensex rose 74.61 points or 0.12 per cent to settle at 60,130.71 and NSE Nifty gained 25.85 points or 0.15 per cent to end at 17,769.25.

Adani Enterprises led the Nifty gainers' chart, followed by Bajaj Finance, Britannia, Bajaj Finserv and Bharti Airtel. 

On the flip side, HDFC Life Insurance, UPL, HDFC Bank, HDFC, and Tech Mahindra were among the main laggards.

"As Nifty is approaching its previous swing high of 17,863 it is witnessing some profit booking as the speed of up move has reduced. As we are in the final week of the April series expiry volatility can be high for the next couple of trading sessions. So, the crucial support zone to keep a watch is 17,620 to 17,600. Until the Nifty manages to hold and trade above this zone, we can expect the up move to continue. On the upside, the initial hurdle stands at 17,863 to 17,880," said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

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

Bajaj Finance 

Bajaj Finance stock was among the top gainers on Nifty50, it rose over 2 per cent to Rs 6,075 per share on the NSE.

Investec has recommended selling shares of Bajaj Finance for a target price of Rs 4,800 apiece which is a downside of 21 per cent. 

The brokerage believes that the company has the following challenges ahead of it: 

a) Bajaj Finance’s size is a constraint 

b) Competition picking up in unsecured credit, 

c) Barriers to entry in unsecured shrinking

Pic: NSE

Bharti Airtel 

Shares of the Bharti Airtel ended among the top gainers on Nifty50 on Tuesday, the stock rose over 1 per cent to Rs 772.7 per share on the NSE.

The brokerage firm, Axis Securities, has given a ‘buy’ call on shares of Bharti Airtel for a target price of Rs 855 apiece which is an upside of 10.7 per cent.

According to the brokerage, from a long-term perspective, the company is backed by the highest penetrations and would continue to gain market share with minimum Capex requirement. 

With a strong digital portfolio backed by rising per-user data, the brokerage is positive about the future growth of Airtel. 

Pic: NSE

HDFC Life Insurance 

HDFC Life Insurance stock ended among the major losers on NSE. Shares of HDFC Life fell over 3 per cent and settled at Rs 528.75 apiece. 

The brokerage firm, Phillip Capital has maintained a ‘buy’ call on shares of HDFC Life Insurance for a target price of Rs 700 apiece which is an upside of 32.4 per cent.

The brokerage is bullish on the company’s long-term growth prospects.

Pic: NSE

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