Top Gainers & Losers: Apollo Hospitals, Bajaj Finserv gain while Mahindra & Mahindra cracks over 2%; know what brokerages recommend

Gainers and Losers: Indian benchmark indices S&P BSE Sensex and NSE Nifty50 ended lower on Friday tracking weak trend in Asian equity markets as concerns over US Federal Reserve raising interest rates further to curb inflation take grip. Foreign fund outflows and selling pressure in HDFC twins also dented investor sentiments as domestic markets ended negative for the sixth straight session.

Notwithstanding a strong opening, the BSE Sensex settled 141.87 points or 0.24 per cent lower at 59,463.93. While the trade was rangebound, the intraday fall was over 280 points. The NSE Nifty50 dipped 45.45 points or 0.26 per cent to end at 17,465.80.

ONGC, Adani Ports, Asian Paints, Divi’s Laboratories and Apollo Hospital were the top gainers on the 50-share Nifty50 index. Meanwhile, the top losers were Adani Enterprises, Hindalco, M&M, JSW Steel and Tata Steel.

Here are some blue-chip stocks that saw maximum buzz today:

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Apollo Hospital

Apollo Hospital stock rallied by Rs 43.95 or 0.99 per cent at Rs 4,486 apiece on NSE.

Image Source: NSE

Brokerage firm Smifs Limited has given a ‘buy’ call on shares of Apollo Hospital for a target price of Rs 5,280 apiece (17.7 per cent upside). Smifs is positive about the prospects of Apollo Hospital. According to this brokerage firm, the company’s pharmacy distribution business will see an increase in Gross Merchandise Value (GMV) to Rs. 1500 crore in FY23 and Rs 3200 crore in FY24 due to increased customer base.

Bajaj Finserv

Shares of Bajaj Finserv rose 0.97  per cent or Rs 13.05 at Rs 1,360 apiece on NSE.

Image Source: NSE

Brokerage Firm ICICI Direct gave a ‘buy’ call on Hindalco shares for a target price of Rs 1,625 apiece ( 19.5 per cent upside).

According to ICICI Direct, the NBFC has a healthy pick-up in lending Asset Under Management (AUM) and a selective approach in insurance business coupled with focus on digitisation which is a big positive.

M&M

M&M stock cracked by Rs 33.50 or 2.55  per cent at Rs 1,280.45 apiece on NSE.

Image Source: NSE

Yes Securities is bullish on M&M and has given a ‘buy’ call with a target price of Rs 1,561apiece (22 per cent upside).

The brokerage believes that the margins will remain at an elevated level led by price hikes and end of introductory pricing for XUV7OO, Thar and Scorpio N.

The report stated that moderating Raw Material inflation and cost controls are also some of the positives.

Also Read: Income Tax: What are the 3 deductions under the new tax regime?