Top Gainers & Losers: HDFC Life insurance and Wipro rise among blue chip stocks, IndusInd Bank dips over 1%

Top Gainers & Losers: Indian Benchmark indices started the week on a positive note with Sensex reclaiming the 60,000 mark on Monday as strong quarterly earnings reported by bellwether companies and a downward movement in the crude oil prices supported investor sentiments.

In a see-saw trade, BSE Sensex jumped 401.04 points or 0.67 per cent to reach the 60,000 level and closed the session at 60,056.10 and NSE Nifty ended at 17,743.40, up 119.35 points or 0.68 per cent.

Among the Nifty50 firms, HDFC Life Insurance, Tata Consumer Products, Wipro, Axis Bank, and ICICI Bank were the gainers.

Dr Reddy’s Laboratories, IndusInd Bank, Cipla, Divi’s Laboratories, and Maruti were among the laggards.

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

HDFC Life Insurance 

HDFC Life Insurance stock was the top gainer on Nifty50, it jumped over 6 per cent to Rs 546.15 per share on the NSE.

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 28.2 per cent.

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

Pic: NSE

Wipro 

Shares of the IT major, Wipro ended among the top gainers on Nifty50 on Monday after the company announced considering a buyback of shares. The stock rose over 2 per cent to Rs 377.95 per share on the NSE.

The brokerage firm, Axis Securities, has given a ‘hold’ call on shares of Wipro for a target price of Rs 410 apiece which is an upside of 8.5 per cent.

According to the brokerage, Wipro has lagged in its execution despite having better results and better deal wins.

Pic: NSE

IndusInd Bank 

IndusInd Bank stock ended among the major losers on NSE after the bank declared its FY23 Q4 results. Shares of IndusInd Bank declined over 1 per cent and settled at Rs 1,101.35 apiece. 

Sharekhan has given a ‘buy’ call on IndusInd Bank and has given a target price of Rs 1,400 apiece which is an upside of 27.1 per cent. 

The brokerage believes IndusInd Bank has strong growth potential from a well-diversified loan book with a rising share of retail loans along with healthy capital ratios giving loan growth visibility.

Pic: NSE

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