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

Gainers and Losers: Indian benchmark indices Sensex and Nifty gained around half a per cent to close at nearly five-month high levels on Monday following continuous foreign fund inflows and firm trends in Asian and European markets.

Rising for the second straight day, BSE Sensex climbed 317.81 points or 0.51 per cent to settle at 62,345.71, the highest closing level since December 14 and NSE Nifty gained 84.05 points or 0.46 per cent to end at 18,398.85 points, a level not seen since December 20, 2022.

Among the Nifty50 firms, Hero MotoCorp, Tata Motors, ITC, Tech Mahindra, and Hindalco were the biggest gainers.

Conversely, Adani Enterprises, Cipla, BPCL, Grasim, and Divi’s Laboratories were among the major losers.

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

1 Elgi Equipments 

Elgi Equipments shares rose over 7 per cent to end at Rs 462.9 apiece on NSE.

ICICI Direct has given a 'hold' rating on Elgi Equipment with a target price of Rs 520 apiece.

“Elgi Equipment has a strong balance sheet, zero debt, and healthy cash balances and is likely to benefit as demand gradually returns to normal,” the brokerage said in its report.

2 Tata Motors 

Tata Motors shares rose nearly 3 per cent at Rs 530.55 apiece.

Goldman Sachs has given a 'buy' on Tata Motors and has raised the target price to Rs 600 apiece from Rs 550 apiece.

Brokerage in the reports said that favorable Jaguar Land Rover outlook and domestic Electric Vehicle catalysts setup strong FY24.

3 ITC 

ITC shares rose nearly 2 per cent at Rs 428.4 apiece.

Sharekhan has given a 'buy' on ITC with a target price of Rs 450 apiece.

“ITC has delivered a resilient performance in past few quarters, despite an uncertain demand environment and sustained inflationary pressures on margins,” said the brokerage.

4 Sobha Ltd

Sobha Ltd shares rose over 11 per cent at Rs 552.85 apiece.

Motilal Oswal has given a ‘buy’ call on shares of Sobha Ltd for a target price of Rs 700 apiece.

“Aided by consistent demand over the last few quarters, Sobha (SOBHA) has witnessed a healthy drop in their unsold inventory levels,” said the brokerage.

5 Prestige Estates 

Prestige Estates stock climbed over 5 per cent at Rs 511 apiece.

Dolat Capital has given a ‘buy’ call on shares of Prestige Estates for a target price of Rs 800 apiece.

“We believe the developer offers a unique combination of scale, diversity and dominance,” said the brokerage.

6 Cipla 

Cipla’s shares declined over 1 per cent at Rs 921.45apiece.

Sharekhan has given a ‘hold’ call on shares of Cipla for a target price of Rs 1,080 apiece.

“We maintain our earnings CAGR estimates over FY2022-FY2025E,” said the brokerage.

7 BPCL 

BPCL stock declined over 1 per cent at Rs 356.9 apiece.

Elara Capital has given a ‘accumulate’ call on shares of BPCL for a target price of Rs 364 apiece.

“We maintain our target price at Rs 364 apiece as we assume a one-year forward gross refining margin at USD 8.0/bbl,” said brokerage.

8 Avenue Supermarts

Avenue Supermarts– which runs Dmart stores– stock declined over 4 per cent at Rs 3,523 apiece.

Axis Securitues has given a ‘hold’ call on shares of Avenue Supermarts for a target price of Rs 4000 apiece.

Brokerage sees demand and profitability challenges for the company ahead. 

9 Grasim

Grasim shares declined over 1 per cent at Rs 1,731.35 apiece.

Sharekhan has given a ‘buy’ rating with a target price of 1,900 rupees. 

“Grasim remains on track to complete paints expansion by FY2025-end with the commercial launch expected in Q4FY2024. The B2B e-commerce business would be launched in a phased manner from H1FY2024,” the brokerage said. 

10 CEAT Ltd

CEAT shares closed nearly 5 per cent lower on NSE at Rs 1,774.2 apiece 

Nuvama has given a ‘hold’ call on CEAT Ltd  for a target price of Rs 1,840 apiece.

“Post a strong margin show in Q4FY23, margin may remain in broad range due to mixed input cost trends and possible increase in competition intensity,” said the brokerage.

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