Top Gainers & Losers: HDFC Life, Bajaj Auto jump; Britannia dips

Top Gainers and Losers: Indian benchmark indices Sensex and Nifty bounced back nearly one per cent at the end of the session on Tuesday, mirroring positive moves across major markets around the globe led by a steady recovery in banking shares. The Sensex climbed up 445.7 points or 0.8 per cent to settle at 58,074.7 and the Nifty advanced 119.1 points or 0.7 per cent to end at 17,107.5.

Among the Nifty50 stocks, HDFC Life Insurance, Reliance Industries, Bajaj Finance, Bajaj Auto and SBI Life Insurance were the top gainers. On the flipside, PowerGrid, Hindustan Unilever, Tech Mahindra, Britannia and Dr Divi’s Laboratories were the worst-hit in the blue-chip basket.

Here are some of the blue-chip stocks that moved the most on March 21:

HDFC Life Insurance 

Life insurer HDFC Life Insurance’s stock climbed up by Rs 17.8 or 3.8 per cent to settle at Rs 483 apiece on NSE.

Phillip Capital has a ‘buy’ call on HDFC Life Insurance with a target price of Rs 700 apiece, implying upside potential of 45 per cent.

Bajaj Auto 

Bajaj Auto shares gained by Rs 105 or 2.8 per cent to end at Rs 3,910 apiece. 

Axis Securities has a ‘buy’ on the auto maker with a target price of Rs 4,170 apiece (6.6 per cent upside).

Axis Securities expects the company's exports to pick up from May-June 2023. A key positive for Bajaj Auto, according to the brokerage, is expansion in the electric vehicle segment. 

Britannia 

Britannia shares declined by Rs 64.9 or 1.5 per cent at Rs 4,267 apiece on the bourse. 

Pic: NSE

Phillip Capital has a ‘buy’ rating on Britannia shares for a target of Rs 5,400 apiece (26.6 per cent upside).

According to the brokerage, long-term investors will be highly rewarded as formalisation will be more visible in the food space, and brand loyalty will play a significant role for the company.

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