Top Gainers & Losers: ITC ends as top gainer on NSE after hitting all-time high, HDFC Life insurance dips over 3%

Top Gainers & Losers: Indian equity benchmark indices Sensex and Nifty ended flat on Friday in a muted trade amid largely weak global markets and ahead of the quarterly earnings from the country's most valued firm Reliance Industries.

In a volatile trade,  BSE Sensex edged up 22.71 points or 0.04 per cent to settle at 59,655.06 and the broader NSE Nifty ended at 17,624.05, showing a marginal dip of 0.40 points.

Among the Nifty50 firms, ITC, Tata Consultancy Services (TCS), Britannia Wipro, and Cipla were the winners.

HCL Technologies climbed 1 per cent after the company on Thursday posted a 10.85 per cent increase in consolidated net profit to Rs 3,983 crore for the fourth quarter of 2022-23.

HDFC Life Insurance, Tech Mahindra, Maruti, Adani Enterprises, SBI Life Insurance and Tata Steel were among the laggards.

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

ITC

ITC stock was the top gainer on Nifty50, it rose nearly 2 per cent to Rs 408 per share on the NSE.

Brokerage firm Sharekhan has reiterates a ‘buy’ call on ITC with a target price of Rs 450 per share which is an upside of 10.3 per cent. 

Consistent good growth in the cigarette business, strong tailwinds in the hotel business, and scale-up in the non-cigarette FMCG business make its earning visibility better compared with peers, the domestic brokerage said in its report on the FMCG major.

PIC: NSE

TCS

TCS share price ended among the top gainers on Nifty50 on Friday. The stock rose nearly 2 per cent to Rs 3,159 per share on the NSE.

Nirmal Bang has given a ‘sell’ call on shares of TCS for a target price of Rs 2,638 apiece which is a downside of 16.5 per cent.

The brokerage believes that from a medium-term perspective, the street is overestimating industry growth by 300 to 400 basis points and sees higher competitive intensity with a non zero interest rate regime to be drags on growth.

PIC: NSE

HDFC Life Insurance 

Shares of HDFC Life Insurance ended as the top losers on Nifty50. The stock fell over 3 per cent to Rs 513.5 per share on the NSE. 

Phillip Capital has maintained a ‘buy’ rating on HDFC Life Insurance for a target of Rs 700 which is an upside of 36.6 per cent. 

The brokerage is bullish on the long-term growth prospects of HDFC Life Insurance.

PIC: NSE

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