Gainers and Losers : Top 10 stocks that buzzed the most today

Gainers and Losers: Indian equity benchmarks BSE Sensex and Nifty ended flat on Thursday. At close, the S&P BSE Sensex stood at 61,904.52, down 36 points, or 0.06 per cent. The NSE's Nifty50 ended the session at 18,297.55, down 18.1 points.

Among Nifty firms, Adani Enterprises, Asian Paints, Hindustan Unilever (HUL), Adani Ports and NTPC were major winners

On the flip side, Dr Reddy’s Laboratories, Larsen and Toubro (L&T), Hindalco, Divi’s Laboratories and JSW Steel were the laggards.

Commenting on the Markets today, Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas, said, “On the daily charts we can observe that the Nifty has been unable to sustain above the upper boundary 18350 and is facing selling pressure at higher levels. The Divergence on the momentum indicator is also suggesting weakening of upside momentum. On the downside the 20 hour moving average (18299) has been acting as a strong support and absorbing the selling pressure. Thus, considering the above parameters we expect the Nifty to consolidate in the range of 18350 – 18000 from short term perspective. In terms of levels, 18350 – 18400 shall act as a crucial support zone while 18220 – 18200 shall act as a crucial support zone." 

Here is a list of Top 10 stocks that buzzed the most today:

1 Asian Paints

Asian Paints shares rose over 3 per cent to end at Rs 3,143 apiece on NSE after the paint company reported a strong set of numbers for the January-March quarter of the fiscal 2022-23 (Q4FY23).

HDFC Securities has given a 'Reduce' rating on Asian Paints with a target price of Rs 2,680 apiece.

“While beneficial in the long run, it will certainly be a drain on the free cash flow to the firm and returns profile in the short to medium term,” the brokerage said.

2 Dr Reddy’s Laboratories 

Dr Reddy's Laboratories was the top loser on Nifty50. Shares of Dr Reddy's Laboratories declined 2 per cent at Rs 680.5 apiece.

Dolat Capitals has given a 'reduce' on Dr Reddy’s Laboratories.

“We downgrade our EPS estimates by 2 per cent/5 per cent in FY24E/FY25E assuming lower than expected EBITDA margin. We revise our rating to Reduce with a revised target price of Rs 4990,” said the brokerage.

3 Kirloskar Brothers

Kirloskar Brothers shares jumped  20 per cent at Rs 506.4 apiece.

Sharekhan has a ‘positive’ view on shares of Kirloskar Brothers 

“Kirloskar Brothers Limited (KBL), one of the largest players in the domestic pumps industry, is in a transformation phase, boosted by strong underlying demand from key industries, turnaround of the overseas business, and expansion of its services portfolio,” said the brokerage.

4 CEAT Ltd

CEAT shares surged over 6 per cent at Rs 1,837 apiece.

Anand Rathi has given a ‘buy’ call on shares of CEAT Ltd for a target price of Rs 2,170 apiece.

“We expect healthy volume growth driven by replacements and exports. Operating leverage would expand the EBITDA margin from Q4, though only slightly,” said the brokerage.

5 Neuland Laboratories

Neuland Laboratories stock surged 20 per cent at Rs 2,538.3 apiece.

Anand Rathi has recommended selling shares of Neuland Laboratories for a target price of Rs 1,560 apiece.

According to brokerage regulatory issues; delay in product approvals for clients could be some risks that company is likely to face. 

6 Safari Industries 

Safari Industries' shares declined nearly 4 per cent at Rs 2,484 apiece.

Anand Rathi has given a ‘buy’ call on shares of Safari Industries for a target price of Rs2,484 apiece.

“The sector, which in the past was dominated by non-branded luggage has shifted markedly to branded luggage,” said the brokerage.

7 L&T

L&T stock ended over 5 per cent lower at Rs 2,244 apiece.

Yes Securities has given a ‘buy’ call on shares of Hindalco for a target price of Rs 2,654 apiece.

“We believe that L&T is well-placed to emerge stronger given its financial, technical & managerial capability for sustaining and gaining market share,” said brokerage.

8 UltraTech Cement 

UltraTech Cement stock climbed over 1 per cent at Rs 7,827 apiece.

Phillip Capital has maintained a ‘buy’ call on shares of UltraTech Cement for a target price of Rs 9,200 apiece.

“If there is one company in industry where we have a unanimous ground feedback about a much fair code of conduct of business on ground despite its mammoth size and its unparalleled systemic protocols being in place, it is UltraTech Cement. Its best-in-class vigilance clearly reflects the necessary outcomes in its Q4 numbers, as we see,” the brokerage said.

9 JSW Steel 

JSW Steel was among the top losers on Nifty50. Shares of JSW Steel declined nearly 2 per cent at Rs 710.1 apiece.

BoB Capitals has given a ‘hold’ call on JSW Steel for a target price of Rs 715 apiece.

“We believe our FY25 estimates are generous on volumes and margins. We account for 50% utilisation from expansion projects (5mtpa Vijayanagar and 1.5mtpa BPSL) targeted for completion by FY24," said the brokerage.

10 HUL

HUL closed over 2 per cent higher on NSE at Rs 2,590 apiece and ended among the top winners on NSE.

Prabhudas Lilladher has given an ‘accumulate’ rating on HUL for a target price of Rs 2,785 apiece.

“HUL continues to guide for quarter on quarter (QoQ) GM/EBITDAM improvement with stabilizing inflation, narrowing cost price gap and calibrated price cuts to restore price-value equation,” said the brokerage.

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