Top Gainers & Losers: L&T and Asian Paints rally, Nestle cracks over 3% — check price target

Gainers and Losers: Indian Equity indices Sensex and Nifty ended lower by half-a-percent on Friday following losses in IT and banking shares amid overall weak global market trends.

The BSE Sensex declined 316.94 points or 0.52% to settle at 61,002.57. During the day, it fell 508.84 points or 0.82% to 60,810.67.

The NSE Nifty slipped by 91.65 points or 0.51% to end at 17,944.20.

While L&T topped the Nifty gainers' chart, followed by Ultra Tech Cement, BPCL, Hero MotoCorp and Asian Paints.

On the flipside, Adani Enterprises, Nestle India, IndusInd Bank, SBI Life Insurance Company, and HDFC Life Insurance were among the major laggards on NSE.

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

L&T 

L&T stock rallied by Rs 48.70 or 2.24% at Rs 2,227 apiece on NSE.

Image Source: NSE

Brokerage firm ICICI Direct has given a 'Buy' call on shares of L&T for a target price of Rs 2795 apiece (25.5 per cent upside) as the brokerage sees good revenue visibility in coming years. 

Also read:THESE 4 tips can help you repay dues faster

Asian Paints

Shares of Asian Paints rose 1.14% or Rs 32.05 at Rs 2,838 apiece on NSE.

Image Source: NSE

Brokerage Firm Axis Securities has maintained a 'Buy' call on Asian Paints shares for a target price of Rs 3,200 (12.8% upside.) 

The brokerage firm is positive on the mid-long-term basis, as it believes fall in raw material prices will be a big positive for the paint company as it will drive margin expansion. 

Nestle Ltd 

The stock of Hindustan Unilever closed at Rs 19,002 apiece which was down by 3.19% or Rs 626.85.

Image Source: NSE

Motilal Oswal has given a ‘Neutral’ rating on Nestle India’s stock with a target price of Rs 19,875 apiece (4.6 per cent upside). 

According to the brokerage report, the long-term narrative for revenue and earnings growth is highly attractive. 

The report further stated that the Packaged Foods segment offers immense growth opportunities in India. The successful implementation of its volume-led growth strategy in recent years provides confidence in execution as well. 

Also read:THESE 4 tips can help you repay dues faster