Mover & Shakers on D-Street: Sesa Sterlite, Wipro, Tata Motors, Suzlon
Indian mkts ended with modest gains on Tuesday led by banking and automobile stocks. The market breadth was positive. Foreign institutional investors sold equities worth Rs 43.74 cr.
By ET Bureau | Updated:
Indian markets ended with modest gains on Tuesday led by banking and automobile stocks. The BSE Sensex rose 46.07 points, or 0.22 per cent, to settle at 21,251, its highest closing level since January 16. The broader NSE Nifty advanced 9.85 points, or 0.16 per cent, to settle at 6,313. The market breadth was positive. On BSE, 1,376 shares gained, whereas 1,247 shares declined. Foreign institutional investors sold equities worth Rs 43.74 crore on Tuesday.
ICICI Securities has raised its price target on Sesa Sterlite to Rs 213, and has upgraded the stock rating to ‘Reduce’ from ‘Sell’. The brokerage said Cabinet approval of stake sale in Hind Zinc is positive for Sesa Sterlite. The stock rose 1.56 per cent to Rs 208.
Prabhudas Lilladher has downgraded Aurobindo Pharma’s rating to ‘Accumulate’ with a price target of Rs 482. The brokerage said that acquisition of an European firm will help the company to expand Aurobindo’s operations across seven countries in Western Europe and enlarge its portfolio with 1,200 marketed products. The stock ended 6.33 per cent higher at Rs 435.
Motilal Oswal has given ‘Neutral’ rating on Asian Paints target price of Rs 465. The brokerage said the December quarter results were below estimates, as consolidated profits were down 1.8 per cent at Rs 330 crore. The stock is currently trading expensive at 31.6 times based on FY15 earnings. The shares ended 2.26 per cent lower at Rs 479.
Angel Broking has put ‘Accumulate’ on Wipro with a price target of Rs 625. The brokerage said the management is confident on revenue growth pick-up, citing closures and win rates of large deals, up-tick in discretionary spending, and strong US business momentum.
Tata Motors rose 2.68 per cent to Rs 384, after it announced on Monday after market closing about the launch of next generation petrol engine that will power its future models.
ICICI Securities has raised its price target on Sesa Sterlite to Rs 213, and has upgraded the stock rating to ‘Reduce’ from ‘Sell’. The brokerage said Cabinet approval of stake sale in Hind Zinc is positive for Sesa Sterlite. The stock rose 1.56 per cent to Rs 208.
Prabhudas Lilladher has downgraded Aurobindo Pharma’s rating to ‘Accumulate’ with a price target of Rs 482. The brokerage said that acquisition of an European firm will help the company to expand Aurobindo’s operations across seven countries in Western Europe and enlarge its portfolio with 1,200 marketed products. The stock ended 6.33 per cent higher at Rs 435. Motilal Oswal has given ‘Neutral’ rating on Asian Paints target price of Rs 465. The brokerage said the December quarter results were below estimates, as consolidated profits were down 1.8 per cent at Rs 330 crore. The stock is currently trading expensive at 31.6 times based on FY15 earnings. The shares ended 2.26 per cent lower at Rs 479.
Angel Broking has put ‘Accumulate’ on Wipro with a price target of Rs 625. The brokerage said the management is confident on revenue growth pick-up, citing closures and win rates of large deals, up-tick in discretionary spending, and strong US business momentum.
Tata Motors rose 2.68 per cent to Rs 384, after it announced on Monday after market closing about the launch of next generation petrol engine that will power its future models.
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Shares of Suzlon surged over 6.53 per cent to close at Rs 11.25. Reports stated the company is close to striking a deal with its FCCB holders. Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
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