Top Gainers & Losers: Tech Mahindra rallies nearly 6%, Hindustan Unilever cracks over 1% — Check target price

Gainers and Losers: Benchmark Sensex pared early losses to close 242 points higher while Nifty settled above the 18,000-mark on Wednesday following gains in IT, oil and select banking stocks amid mixed global trends.

Extending gains for a second day, the 30-share BSE Sensex advanced 242.83 points or 0.40 per cent to close at 61,275.09 with 20 of its constituents ending in the green.

The index opened lower at 60,990.05 but later regained its footing to touch a high of 61,352.55 in day trade.

The broader Nifty of NSE rose by 86 points or 0.48 per cent to settle above the 18,000-mark at 18,015.85.

While Tech Mahindra topped the Nifty gainers' chart, followed by, Apollo Hospital, Eicher Moto, Reliance and Bajaj Finserv; on the flipside, Hindustan Unilever, Sun Pharma, ONGC, L&T and IndusInd Bank were among the major laggards.

Ajit Mishra, VP - Technical Research, Religare Broking Ltd says he is positive on the market. However, he adds that intermediate consolidation/profit taking on the global front and restricted participation within the index heavyweights could keep the momentum in check. 

He recommends staying selective and preferring exposure to the counters which are leading from the front.

Tech Mahindra Limited

Tech Mahindra stock rallied by Rs 56.55 or 5.59 per cent at Rs 1,068.60 apiece on NSE.

Image source: NSE

Axis Securities is bullish on Tech Mahindra and has given a 'Buy' call for a target price of Rs 1200 apiece. 

According to the brokerage firm, the company has strong recovery potential backed by strong deal wins and improved client engagement.

Bajaj Finserv

Bajaj Finserv stock rose 1.67 per cent or Rs 23.40 at Rs 1,422 apiece on BSE.

Image source: NSE

Brokerage Firm ICICI Direct has maintained a 'Buy' call on Bajaj Finserv with a target price of Rs 1625. 

The brokerage firm is positive on the company's healthy pick-up in lending Asset Under Management and selective approach in insurance business coupled with focus on digitisation. 

Hindustan Unilever (HUL)

The stock of Hindustan Unilever closed at Rs 2,548 apiece — down by 1.22 per cent or Rs 31.60.

Image source: NSE

Elara Capital is bullish on Hindustan Unilever and is supportive of its market development model which includes seeding new categories, launching access packs, persuasive communication and consumer connects at a large scale. 

According to the report, Hindustan Unilever reaches 100 million households (one-third of total) every year. Brokerage firm has recommended to buy shares of Hindustan Unilever for a target price of Rs 3,060 apiece. 

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