Top Gainers & Losers: Tata Motors, Hindalco rally, while L&T cracks nearly 2%; know what brokerages recommend

Gainers and Losers: Indian equity indices S&P BSE Sensex and NSE Nifty50 ended lower for the fifth straight session on Thursday, amid concerns that the US Federal Reserve might raise interest rates further to curb inflation.

In a highly volatile trade, the BSE Sensex declined 139.18 points or 0.23 per cent to settle at 59,605.80. During the day, it hit a high of 59,960.04 and a low of 59,406.31. The NSE Nifty slipped 43.05 points or 0.25 per cent to end at 17,511.25 on the day of monthly expiry.

Hindalco, Coal India, Axis Bank, JSW Steel and Tata Motors were the top gainers on the 50-share Nifty50 while Asian Paints, Larsen & Toubro, Titan, Divi’s Laboratories, and IndusInd Bank were among the major laggards.

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

Tata Motors

Tata Motors stock rallied by Rs 5.55 or 1.29 per cent at Rs 435 apiece on NSE.

Image source: NSE

Brokerage firm Julius Baer has given a ‘buy’ call on shares of Tata Motors for a target price of Rs 525 apiece (20.7 per cent upside).

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According to the brokerage firm Tata Motors is expected to see improved performance over the period in both Jaguar Land Rover driven by cyclical recovery, new launches/refreshes, better mix, cost-cutting initiatives, and deleveraging.

The recent deal for PV EV has also created significant incremental value according to Julius Baer.

Hindalco

Shares of Hindalco rose 1.79 per cent or Rs 7.70 at Rs 437.40 apiece on NSE.

Image source: NSE

Brokerage Firm Motilal Oswal gives a ‘buy’ call on Hindalco shares for a target price of Rs 570 apiece (30.3 per cent upside) betting on its long-term growth opportunities. It is of the view that the current weakness in the stock market is a buying opportunity.

L&T

L&T stock cracked by Rs 40.75 or 1.86 per cent at Rs 2,154 apiece on NSE.

Image source: NSE

Yes Securities has given a ‘buy’ rating on L&T’s stock with a target price of Rs 2,338 apiece estimating an 8.5 per cent upside. The brokerage firm believes that L&T is well‐placed to emerge stronger given its financial, technical and managerial capability for sustaining and gaining market share.

Yes Securities is positive on the company’s strong business model, robust bid pipeline, diversified order book and healthy balance sheet.

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