Trading desk: The movers and shakers on D-street

The BSE Sensex fell 0.19% to close at 22,509.07,while the CNX Nifty ended at 6,736.10, down 0.24%.

Foreign portfolio investors bought Indian companies’ shares worth Rs 717.39 crore,while domestic institutional investors sold shares worth Rs 716.57 crore.

>> Black Rock India Equity Fund Mauritius, Norges Bank-Government Pension Fund Global and The Master Trust Bank of Japan as trustees of Black Rock India Equity Fund bought shares of Repco Home Finance for Rs 325.76 apiece,while WCP Holding III sold 27.28 lakh shares at Rs 325.04 apiece.Shares of Repco Home Finance rose 2.40% to close at Rs 357.90.

>> Bank of America-Merrill Lynch has given a ‘Buy’ rating to Motherson Sumi Systems and has raised its 12-month price objective by 25% to Rs 311, based on a 15 times P/E, driven mainly by a 15% increase in its FY16 estimated EPS.

The brokerage house said,assuming the stock’s 1-yr forward P/E remains at its historical average of 15x, the stock could rise more than 3x in the next five years to Rs 820. Shares of Motherson Sumi Systems fell 2.21% to close at Rs 259.

>> Shares of IDFC fell 2.38% to close at Rs 124.95 on worries that regulatory requirements for banks would impact its returns on equity.The Reserve Bank of India on Wednesday gave its in-principle approval to the infrastructure sector lender.

Shares of other applicants who didn’t win the banking licence this time around plunged. L&T Finance Holding slumped 9.71% to close at Rs 69.75, Reliance Capital was down 4.51% to end at Rs 340.15, SREI Infratructure Finance fell 7.80% to close at Rs 27.20, while LIC Housing Finance fell 1.37% to close at Rs 244.25.

>> Motilal Oswal has maintained its ‘Neutral’ rating on Nestle India with a target price of Rs 5,065. It said the company’s strategy of driving resources behind high margin portfolio is long-term positive, but impacts volumes in the near term. Shares of Nestle India closed at Rs 4884.15,down 0.40%.