Trading desk: The movers & shakers on D-street

Indian equity market declined on Tuesday as investors sold oil & gas, banking, FMCG, realty and the consumer durables stocks dragging the benchmark indices to wipe out over half of previoius days gains. The Sensex declined 180 points or 0.87% to close at 20,425, while Nifty settled at 6059 down 56 points over the previous close. The BSE banking index with 1.52% down, was the top loser among the sectoral indices, specially the PSU banks were under selling pressure. Bucking the negative trend were the auto, power and the capital goods, the indices of the sector gained half a percent each.

Bank of America-Merrill Lynch has upgraded Eicher MotorsBSE 2.76 % to buy from underperform citing higher earnings forecasts due to an improved performance from the motorcycle division. The firm has changed Eicher's price objective to Rs 6,000 from Rs 2,845. Eicher shares rose 3.27% to Rs 4,340 on Tuesday.

Motilal Oswal has a 'buy' rating on Bharti AirtelBSE -1.69 % with a price target of Rs 465 saying that there are significant data revenue growth opportunities and that the sector is going through structural changes. Bharti shares ended 2.72% lower at Rs 327.

Kotak Securities has maintained 'buy' rating on Blue Star, with price target of Rs 180, as company's order backlog is at highest level in the past five quarters, suggesting that worst in terms of contraction in order inflows may be over. The stock ended up 1.75% at Rs 145.

HDFC Securities has put 'buy' recommendation on Sonata SoftwareBSE 2.11 % with price target of Rs 45. The stock closed flat at Rs 33.

Karvy put 'buy' rating on Siyaram Silk MillsBSE -0.04 % with price target of Rs 382. The brokerage has said that the management is optimistic on recovery in margins due to stabilizing rawmaterial costs, optimization of product mix, and higher turnover on capex. The stock ended flat at Rs 252.

Angel Broking has given a 'neutral' rating on Sun PharmaBSE -0.75 %, after its overseas unit Taro Pharma announced the tender offer to buy-back up to US $200 mn of its ordinary shares, at a price not greater than $97.5 per share, or less than $84.5 per share. The stock closed 1.25% down at Rs 573.

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