Top Gainers & Losers: TCS and IndusInd Bank rise among blue chip stocks; ITC dips over 1%

Top Gainers & Losers: Indian equity benchmark BSE Sensex and Nifty reversed gains and ended flat on Tuesday. BSE Sensex ended at 61,761.33 and NSE Nifty settled at 18,265.95.

Among Nifty firms, Divi's Laboratories, IndusInd Bank, Coal India, Tata Consultancy Services (TCS), and Axis Bank were major winners 

On the flip side, UPL, ITC, State Bank of India (SBI), Bajaj Finance and JSW Steel were the laggards.

"Overall, the Nifty can witness correction in the range 18000 – 18350 from a short-term perspective. In terms of levels, 18170 – 18150 shall act as a crucial support zone while 18330 – 18350 shall act as an immediate hurdle zone for the Nifty," said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

Here are some of the blue-chip stocks that moved the most on Tuesday:

TCS 

TCS shares rose over 1 per cent to end at Rs 3,292 apiece on NSE.

Yes Securities has given a 'buy' rating on TCS with a target price of Rs 3,676 apiece (11.7 per cent).

The brokerage believes that the company's long-term demand story remains intact led by cloud adoption and data analytics across enterprises.

Image: NSE

IndusInd Bank

IndusInd Bank was among the top gainers on Nifty50, rising over one per cent for the day to close at Rs 1,141.65 apiece on NSE.

Nuvama has maintained a 'buy' rating on IndusInd with a target price of Rs 1,280, which translates to an upside potential of 12.1 per cent. The brokerage believes that IndusInd Bank steadily is improving on most parameters. They expect this trend to sustain going forward.

Image: NSE 

ITC

ITC was among the top loser on Nifty50. Shares of ITC declined over 2 per cent at Rs 424.1 apiece.

Sharekhan has maintained a 'buy' on ITC with a target price of Rs 450 apiece (6.1 per cent upside).

The brokerage believes that compared to other large peers, ITC has much better earning visibility.

Image: NSE

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