Top Gainers & Losers: HDFC Life, Sun Pharma rise most among blue-chip stocks; BPCL drops

Top Gainers and Losers: Indian equity benchmarks Sensex and Nifty finished higher for a second straight session on Wednesday, ahead of a key rate decision by the Fed due later in the day.

The Sensex advanced 139.9 points or 0.2 per cent to settle at 58,214.6 and the Nifty50 rose 44.4 points or 0.3 per cent to close at 17,151.9.

In the Nifty universe of 50 shares, HDFC Life Insurance, Bajaj Finance, Bajaj Finserv, Sun Pharmaceuticals and TCS were the top gainers. On the other hand, BPCL, NTPC, Coal India, Adani Ports and Adani Enterprises were the top laggards.

Here are some blue-chip stocks that moved the most on March 22:

HDFC Life Insurance

HDFC Life Insurance shares rose by Rs 14.3 or three per cent to settle at Rs 497 apiece, becoming the top gainer in the Nifty basket.

Phillip Capital has maintained a ‘buy’ call on shares of HDFC Life Insurance for a target price of Rs 700 apiece, which implies around 41 per cent potential upside in the stock.

According to Phillip Capital, HDFC Life Insurance has shown a consistent performance on the back of strong value of new business growth, improving cost ratios, and among others.

Sun Pharma

Sun Pharma shares rose by Rs 15.6 or 1.6 per cent to close at Rs 971.8 apiece.

Pic: NSE

Nirmal Bang has a ‘buy’ call on Sun Pharma with a target price of Rs 1,202 apiece, implying upside potential of nearly 24 per cent from the current market price.

The brokerage cites:

• Continued growth in India business
• Potential inorganic opportunity due to a strong balance sheet, especially in dermatology, ophthalmology and oncology specialty segements

BPCL

BPCL shares declined two per cent to settle at Rs 351.3 apiece on the bourse.

Pic: NSE

Brokerage Prabhudas Lilladher has maintained a ‘buy’ call on BPCL shares for a target of Rs 420 apiece. This implies upside potential of almost 20 per cent from the current market price.

The brokerage believes that the oil marketing company is well-placed to benefit from improving marketing and healthy refining profitability. According to Prabhudas Lilladher, global recessionary pressure along with high-interest rates will keep oil prices range-bound despite increased demand from China.

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