The mover and shakers of the day in stock market

Indian markets ended the year on a positive note on Tuesday, sending the BSE Sensex to 9% annual gain, as foreign investors bought equities worth over $20 billion despite concerns over slowing economy.

The BSE Sensex gained 27.67 points, or 0.13%, to end at 21,170, above its physiological level of 21,000. The broader NSE Nifty declined 12.90 points, or 0.21%, to close at 6,304.

Foreign institutional investors bought equities worth Rs309 crore on Tuesday. Shares of Apollo Tyres surged 5.77% to Rs107, after the deal to acquire US-based Cooper Tire & Rubber fell through on Monday.

IILF has given a ‘Buy’ rating on Coal India with a price target of Rs323. The brokerage has said the recent price hikes announced by the company indicates its ability to pass on increased costs to maintain profitability. Earnings are expected to improve from FY15 onwards on the back of higher volumes, and increase in e-auction prices. The stock ended 0.19% higher at Rs290.

HDFC Securities has put a ‘Buy’ rating on GE Shipping with a price target of Rs401. The brokerage said the earnings visibility is improving in the offshore segment, while there are early signs of a turnaround in global trade. The recent deal at the Doha round of trade talks in Bali could benefit shipping companies. The stock closed 0.41% lower at Rs318.

IDBI Capital has upgraded eClerx to ‘Accumulate’ from a ‘Reduce’ rating, with a price target of Rs1,111. The management expects the company to achive a $140-million revenue in FY14, which implies 15% growth over the last year. eClerx is optimistic on opportunities in financial services segment for the next 3-4 quarters on account of better closure rate coupled with strong pipeline. The stocks ended 1% higher at Rs1,068.