The Sensex ended up 364.01 points or 1.5 per cent at 24606.99, and the Nifty closed up 106.75 points or 1.4 per cent at 7475.60 in the market closing on Thursday.
Tata Steel, Tata Motors, BHEL and Hindalco were top gainers while ICICI Bank, ITC, Lupin, HUL and Maruti were losers in the Sensex.
In the context of a recent correction in stock price, Nomura reiterates Power Grid as top pick in the sector. It revised target price of Rs. 186, up seven per cent, implies 37 per cent potential upside from current levels.
We maintain that management will continue to deliver (top-notch execution and realization of growth promise remain the key catalysts) and PWGR’s competitive strength in the transmission space should be sustainable said Nomura.