Top Gainers & Losers: UPL, IndusInd Bank hold on to the green in volatile market; Tech Mahindra falls most among blue-chip stocks

Top Gainers & Losers: Indian equity benchmarks Sensex and Nifty50 finished a volatile session marginally in the red on Tuesday in the absence of any major trigger. The Nifty lost 34 points or 0.2 per cent to end the day at 16,951.7 after broadly moving within the 16,900-17,100 band during the session.

The Sensex settled at 57,613.7, down 40.14 points or 0.1 per cent for the day, after gyrating in a range of more than 450 points around the flatline in intraday trade. 

A mixed trend was witnessed across sectors, with the realty, IT, and auto indices reeling under pressure, and gains in select banking and financial majors aiding the sentiment. Broader indices remained under pressure, finishing the day 0.4-1 per cent lower.

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

UPL

UPL shares ended as the top gainer in the Nifty50 basket, rising more than two per cent to Rs 714.7 per share on NSE.

“We believe UPL offers attractive value proposition with stable growth outlook, debt reduction on cards from cash flow generation and compelling valuations,” said Rohan Gupta, an analyst at Nuvama Institutional Equities.

The brokerage maintained a ‘buy’ rating on the stock with a target of Rs 1,024 apiece.

IndusInd Bank

IndusInd Bank shares emerged the top gainer in the Sensex pack, rising more than two per cent to Rs 1,034 apiece on BSE.

Sharekhan said IndusInd Bank remains a tactical 'buy', saying its valuation is cheap at 1.3 times its BV estimates for the year ending March 2024.

The brokerage has a target price of Rs 1,400 apiece on the stock, citing an attractive risk-to-reward ratio.

Tech Mahindra

Tech Mahindra shares were the top laggard in the 30-scrip universe, falling nearly three per cent to Rs 1,070.3 apiece on BSE.

Earlier on Tuesday, Citi gave a ‘neutral’ rating on Tech Mahindra with a target of Rs 1,120 per share. 

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