The broader market also witnessed sell off. The S&P BSE Mid-Cap index fell 1.38% while the S&P BSE Small-Cap index declined 1.56%.
Dolat Capital continues to maintain its positive view on the stock with an accumulated and price target of Rs 1,040 per share.
Major sectoral indices on the NSE were trading in the red with the Nifty Metal index tanking 1.84%.
Sensex ended at 61,143.33, down 206.93 points or 0.34%, while Nifty closed 57.45 points or 0.31% lower at 18,210.95
The market breadth was in the favour of the bulls as 1,659 shares advanced compared to 591 declining while 98 remained unchanged.
Sensex closed at 61,350.26, up 383.21 points or 0.63%, while Nifty ended 132.20 points or 0.73% higher at 18,257.60
The market breadth was positive as 1,782 shares advanced while 634 declined and 89 remained unchanged.
On the sectoral front barring banking & financials, all other indices ended with losses.
The threat to the bulls is likely to come from the FIIs who have turned into sustained sellers.
Religare is bullish on HDFC Ltd with a price target of Rs 3,000 per share.