Top Gainers & Losers: IndusInd Bank, M&M rise most; Bajaj Finance slips
Top Gainers & Losers: Indian equity benchmarks finished a volatile session with mild gains on Wednedsay, as investors returned to trade after a mid-week Holi holiday. In the Nifty basket of 50 stocks, Indusind Bank, Adani Ports and Adani Enterprises were the top gainers whereas Bajaj Finance, Hindalco and Tech Mahindra were the top laggards.
Top Gainers & Losers: Indian equity benchmarks finished a volatile session with mild gains on Wednesday, shrugging off weak global cues as hawkish remarks from Fed Chair Jerome Powell once again fuelled concerns about higher-for-longer interest rates. Gains in financial and auto shares aided the recovery in the second half of the day, though losses in IT shares kept the upside in check.
Both headline indices ended 0.2 per cent higher. The Sensex added 123.6 points to settle at 60,348.1 and the Nifty50 gained 43 points to close at 17,754.4.
Here's a look at some of the blue-chip stocks that moved the most on March 8:
IndusInd Bank
IndusInd Bank shares grew nearly 5 per cent to end at Rs 1,174.5 apiece on BSE — emerging the top gainer in both Sensex and Nifty baskets.
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Phillip Capital maintained a 'buy' rating on IndusInd Bank with a target price of Rs 1,500 per share — implying upside potential of around 28 per cent.
Mahindra & Mahindra
Mahindra and Mahindra (M&M) shares rose one per cent to set at Rs 1,287.5 apiece on BSE.
Nuvama Research maintained a ‘buy’ call on the stock with a target price of Rs 1,577 apiece — which translates to a 22.5 per cent upside.
Bajaj Finance
Bajaj Finance shares were the top laggard in the Nifty as well as Sensex baskets, finishing the day two per cent weaker at Rs 6,000 apiece.
Citi retained a ‘neutral’ rating on Bajaj Finance with a target price of Rs 6,400 per share.
According to Nirmal Bang, the company’s digital strategy is progressing well.
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