INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Easing global crude prices, a recovery in the rupee, optimism over the political stability after the BJP's strong show in the
no-confidence vote and string rollovers to August FO series pushed the domestic benchmark indices to record high levels last week
No big earnings disappointment from blue chip firms also cheered market participants.
Sensex rose 840 points, or 2.3 per cent, for the week
to end at 37,337 on Friday
Nifty50 rose 268 points, or 2.44 per cent, during the week to settle at 11,278
This was the record high levels for both the indices on a closing basis
Yet, technical data suggested half of the stocks trading on the exchanges are still trading below their 200-day moving averages.
Here's a
look at the stocks that hogged limelight this past week:Symphony: This stock plummeted 15 per cent last week to settle at Rs 1,113.20 on
The weakness was seen after the consumer durables company reported a 48.71 per cent year-on-year fall in consolidated net profit at Rs 20
crore for the quarter to June
The figure for the corresponding quarter last year stood at Rs 39 crore.
Bajaj Finserv: The NBFC piped private sector lender Axis Bank in
terms of market capitalisation on Friday
Bajaj FInserv gained 3.8 per cent while Axis Bank fell 5.7 per cent during the week.
ITC: With a 10 per cent surge for the week, ITC managed
to topple Hindustan Unilever to become the most valued FMCG firm on Dalal Street
ITC's m-cap at the end of the week stood at Rs 3.69 lakh crore compared with HUL's Rs 3.58 lakh crore
With stock offered no return for the week.
Hexaware: The company's inline June quarter results failed to enthuse foreign brokerages, which
continued to remain underweight on the stock
Credit Suisses maintained its 'underperform' rating on the stock but raised target price to Rs 380 from Rs 360
Macquarie downgraded the stock to 'neutral' from 'buy' but raised its target price to Rs 500 from Rs 476
The stock plunged 9 per cent during the week to Rs 457.40.
Vijaya Bank: This stock surged 22 per cent during the week as it became the first
state-run lender to report a drop in bad loans in many quarters and improved the cushion against loan losses
While the bank reported a 41 per cent drop in net profit, CEO R A Sankara Narayanan is confident that his bank will show 20 per cent growth
in credit and deposits as well as earnings by the end of this year
Bajaj Auto:Bajaj Auto fell 6 per cent for the week after the company indicated that it wants to bolster its market share which some
analysts believe may come at a cost
Investors felt that were the company to continue with aggressive pricing stance, others such as Hero MotoCorp and TVS Motor will follow the
suit, which would hurt margins for the two-wheeler maker
Cigarette stocks: No bad news is good news
Who knows it better than cigarette makers
No changes in cigarette taxation by the GST Council in its recent meeting lifted cigarette stocks
ITC gained 10.5 per cent, VST Industries (13.26 per cent) and Godfrey Phillips (16.31 per cent) during the week.
Cement stocks These stocks
were in focus during the week on reports that the Supreme Court of India conditionally allowed petcoke import
The Q1 results of many cement makers too came in healthy
ACC soared 19 per cent while Ambuja Cements gained 15.75 per cent for the week
Meanwhile, Union Minister Arun Jaitley said that GST rates on cement will be cut as tax revenues increase
Idea Cellular: This stock climbed 10.47 per cent this week after the telecom firm and Vodafone together paid Rs 7,200 crore to DoT and got
government approval for the merger deal.
Liquor stocks: These stocks rallied after the GST Council overlooked extra neutral alcohol (ENA),
the main ingredient for spirit makers, during its meeting on Saturday
Radico Khaitan soared 20 per cent.
