Top Gainers & Losers: Nestle India, CIL rise most among blue-chip stocks; Infosys plunges

Top Gainers & Losers: Indian equity benchmarks Sensex and Nifty halted a nine-day winning run in a weak session on Monday, dragged by selling pressure in heavyweights such as Infosys and HDFC Bank.

The Sensex fell 520.3 points for the day to end at 59,910.8 and the Nifty50 settled with a cut of 121.2 points at 17,706.9.

In the Nifty50 basket, Nestle India, PowerGrid, State Bank of India (SBI), Britannia and Coal India were the top gainers. On the other hand, Infosys, Tech Mahindra, HCL Technologies, Larsen & Toubro (L&T) and NTPC were the top laggards.

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

Nestle India 

Nestle India shares ended as the top gainer in both the Nifty50 and Sensex packs, rising nearly four per cent for the day to Rs 20,225.1 apiece on NSE. 

Axis Securities has recommended buying Nestle India shares for a target price of Rs 21,700 apiece, implies upside potential of 7.1 per cent.

The brokerage is bullish on Nestle India for the following reasons: 

1) efforts towards rural penetration and market share gains through the RURBAN strategy;  

2) constant focus on innovation (launching 110+ products in the last seven years); 

3) premiumisation in the core categories and launching differentiated products;  

4) entry into new categories of the future, and  

5) introduction of D2C platform to gauge consumer attention 

Image: NSE

Coal India 

Coal India shares rose nearly two per cent for the day to end at Rs 229.3 apiece on NSE.

ICICI Direct has a ‘buy’ rating on Coal India with a target price of Rs 260 per share (13.4 per cent upside). 

The brokerage believes that going forward, the company will record healthy traction in volumes.

Pic: NSE

Infosys

Infosys share price closed as the top loser in both the Sensex and Nifty50 universes. The stock fell nearly 10 per cent to Rs 1,259 per share on NSE amid a slew of downgrades and reduced targets by top brokerages after the country's second largest IT company reported a weak set of Q4 results.

Credit Suisse has downgraded the stock to 'neutral' from 'outperform', and reduced its target price from Rs 1,760 to Rs 1,240.

Pic: NSE

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