Top Gainers & Losers: Tata Motors rallies on strong Q4 global wholesales, Bajaj Finance ends in red

Top Gainers & Losers: The Indian benchmark indices Sensex and Nifty ended in green on Monday, extending the winning streak to a sixth day even as investors preferred to stay on the sidelines ahead of the start of quarterly earnings.

BSE Sensex ended marginally up by 13.54 points or 0.02 per cent to 59,846.51 and NSE Nifty50 advanced 24.90 points or 0.14 per cent to finish at 17,624.05.

Among the Nifty50 stocks, Tata Motors was the top gainer followed by ONGC, Adani Enterprises, Grasim, and Wipro.

On the flip side, Bajaj Finance, HUL, Asian Paints, Tata Consumer, and IndusInd Bank were among the laggards.

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

Tata Motors

Shares of Tata Motors ended as a top gainer on both Nifty50 and Sensex on Monday. The stock jumped more than 5 per cent to Rs 460.90 per share on the NSE after the company reported strong group global wholesale numbers.

Tata Motors reported an eight per cent year-on-year (YoY) increase in group global wholesales to 3,61,361 vehicles in the quarter that ended March 2023. The sales figure included Jaguar Land Rover, whose popular models include Range Rover Evoque, Range Rover Sport, Discovery Sport, and Jaguar F-PACE.

Global Brokerage firm CLSA maintained a ‘buy’ on Tata Motors for a target of Rs 544 which is an upside of 18 per cent.

ONGC

ONGC stock was among the top gainers on Nifty50, it surged nearly 4 per cent to Rs 156.6 per share on the NSE.

Prabhudas Lilladher has given a ‘buy’ rating on ONGC, with a target price of Rs 210 per share which is an upside of 34.1 per cent.

According to brokerage, oil marketing companies will benefit from a sharp recovery in marketing margins.

Bajaj Finance

Bajaj Finance's share price closed as a top loser on Nifty50 on Monday. The stock declined nearly 2 per cent to Rs 5,830 per share on the NSE.

Morgan Stanley maintains an 'overweight' rating on Bajaj Finance, with a target price of Rs 8,000 which is an upside of 37.2 per cent.

The company's loan growth and other key internals outperform the brokerage's expectations. Morgan Stanley is also upbeat about Bajaj Finance's new customer additions.

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