INSUBCONTINENT EXCLUSIVE:
NEW DELHI: A late recovery in the market towards the end of the week helped the benchmark indices recover some of the ground in a week
marked by selling pressure as the rupee hit a record low, trade tensions between major world economies persisted and concerns over a
proposed change in KYC norms worried FPI
The recovery came after Sebi assured a re-look at the KYC norms, and RBI intervened heavily into the forex market to support the falling
currency.
For the week, Sensex lost 255.25 points, or 0.66 per cent, to end at 38,389
The index hit a low of 37,774 during the week
NSE barometer Nifty50 declined 91.40 points, or 0.78 per cent, for the week to settle at 11,589.
Here is a list of stocks that hogged
limelight through the volatile week:
Bharat Electronics: This scrip plunged 19.70 per cent for the week
It was, in fact, the worst-performing BSE500 stock after Ministry of Defence (MOD) slashed the benchmark margin on prospective contracts
awarded on a nomination basis to 7.5 per cent for both the value-added and bought-out components compared with 12.5 per cent permitted for
Hikal: This stock gained 20 per cent last week after ace investor Ashish Kacholia bought 20 lakh shares of pharmaceutical firm at Rs 166.5
Data showed that International Finance Corportation (IFC) sold 39.82 lakh shares at Rs 166.5 per share.
Balkrishna Industries: This was the
second worst performer of the week in the BSE500 pack, as the stock tumbled over 14 per cent following a thumbs-down from investors to the
The move was surprising, as the company still has enough capacity to meet demand for next three to four years, Sharekhan said in a note
Laboratories: This stock gained 14.25 per cent for the week to emerge as top-performer in the BSE500 index
US health regulator USFDA completed inspection at its sterile injectible facility in Gummudipoondi in Tamil Nadu and did not issue any
Besides, Vivek Partheeban of Caplin Point in an interview to ET Now said his company has filed two ANDAs and is aiming is to file 4-5 more
by end of this year.
Housing Urban Development Corporation (HUDCO): The stock climbed 8 per cent for the week after the company reported
doubling of net profit to Rs 333 crore for June quarter, aided by higher revenue
Revenues grew 69.91 per cent year-on-year to Rs 1,530.92 crore
Aurobindo Pharma: This stock climbed 6.7 per cent for the week after the company said it would buy dermatology and oral solid business from
Sandoz, a subsidiary of Swiss drug maker Novartisfor, at an upfront purchase price of $900 million in cash, making it the second largest
generic player in the US by number of prescriptions.
Wipro: This stock gained 6.2 per cent during the week as the IT major won a $1.5
billion contract spread over 10 years from Illinois-based Alight Solutions
This was the largest ever contract for the company
With this, the Bangalore-headquartered software services exporter joined larger peer Tata Consultancy Services (TCS) in bagging larger deals
at a time when outsourcing services industry is seeing a slowdown owing to emergence of digital services.
Larsen and Toubro Infotech: This
LT has time till July 2019 to reduce its stake in the company to 75 per cent to meet minimum public holding requirement.
Sun Pharmaceutical
Industries: This stock managed to gain 4 per cent for the week, even as US health regulator issued Form 483 with six observations after an
inspection of its Halol facility in Gujarat
of the pharma stocks which were at their 52-week highs at the end of the week, thanks to the tailwind of depreciating rupee and
