INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Risk aversion globally, less-than-expected quarterly earnings from bluechip firms at home and looming concerns over the health of
NBFCs dragged the benchmark stock indices lower during the truncated week gone by.
The BSE Sensex dropped 417.95 points, or 1.20 per cent,
during the week to settle at 34,315 on Friday
week.
Mindtree: The scrip fell 14.8 per cent for the week, thanks to its biggest single-day fall in its trading history on Friday after the
company came out with what analysts perceived as soft outlook
The stock had risen 60 per cent this year till Wednesday
Analysts have cut earnings estimate for the company by -8-10 per cent, which hurt investor sentiment.
Indiabulls Housing Finance: With a
29.72 per cent plunge, this was among the worst-hit stocks on BSE during the week
The scrip fell amid reports that it has some Rs 600 crore exposure to realty developer Supertech, which is said to have defaulted on
payments to two PSU banks
Supertech called it payment delay and not default.
Dewan Housing Finance Corporation (DHFL): Reports of Rakesh Jhunjhunwala buying an
developers and a squeeze in overall systemic liquidity hurt this counter
The stock lost 27.83 per cent for the week.
Hathway Cable, Den Networks: Amid rising speculations, Reliance Industries at last announced
much-awaited strategic investments in the two firms, boosting their stock prices
Shares of Den Networks climbed 4.5 per cent during the week while those of Hathway Cable Datacom rallied over 11 per cent.
Jet Airways:
This stock rose 14 per cent for the week on reports that the Tata group has held preliminary talks to buy a large stake in the struggling
The Naresh Goyal-founded Jet has sought an equity collaboration but Tata Sons has sought management control.
NIIT Technologies: This stock
climbed 18.5 per cent for the week after the company reported 66.3 per cent jump in net profit at Rs 111.8 crore for September quarter,
driven by strong demand across sectors like BFSI and travel and transportation
The company had registered Rs 67.20 crore profit for the year-ago quarter.
Avenue Supermarts: This retailer could not meet earnings
expectations and saw a 12.25 per cent drop in shares during the week gone by
Analysts have started downgrading the stock, citing rich valuations that might be tough to sustain if the retailer sticks to its existing
The stock fell 5.25 per cent for the week after the company reported a 15 per cent YoY increase in consolidated net profit at Rs 209 crore,
lower than Rs 251.53 crore that analysts had estimated in an ET Now poll
Bank: This stock fell 5 per cent during the week after second quarter earnings where it made provisions for its exposure to ILFS
The private lender posted 4.56 per cent year-on-year growth in profit at Rs 920.25 crore for the quarter ended September 30
It had posted Rs 880.10 crore profit for the corresponding quarter last year.
