INSUBCONTINENT EXCLUSIVE:
Benchmark equity indices Sensex and Nifty ended the truncated week on a positive note following Union Finance Minister Nirmala Sitharaman's
statement that the government has been offering sector-specific solutions to fight the economic slowdown and amid signs of easing of the
trade war between the US and China.
The 30-share Sensex advanced 1.20 per cent, or 454 points, to 38,127 for the week ended October 11,
while the 50-share Nifty gained 1.17 per cent, or 130 points, to 11,305.
Sanjeev Zarbade, VP PCG Research, Kotak Securities said, “Sensex
closed in the green for the week on the back of hopes of a breakthrough in the US-China trade deal and expected government measures to
revive credit growth before the festive season.”
Below are the top stocks and sectors that buzzed through the week.
Stocks that climbedAs
many as eight stocks in the BSE500 index managed to deliver over 10 per cent returns to investors during the week gone by
These were -- Adani Green Energy (up 21 per cent), Bandhan Bank (20 per cent), Vodafone Idea (19 per cent), Gruh Finance (13 per cent),
Bharti Airtel (13 per cent), Berger Paints (12 per cent), Rail Vikas Nigam (12 per cent) and Delta Corp (11 per cent).
Scrips that
crackedEighteen stocks from the BSE500 universe plunged in double digits during the week
DHFL retreated the most with 32 per cent, followed by Aurobindo Pharma (23 per cent), Reliance Capital (22 per cent), Jain Irrigation (20
per cent) and Indiabulls Integrated Services (18 per cent)
Lakshmi Vilas Bank, Edelweiss Financial Services, Reliance Infrastructure, Piramal Enterprises, Indiabulls Housing Finance, Reliance Power
and SREI Infrastructure Finance were among other firms that fell over 10 per cent during the week.
Stocks @fresh all-time highsJust six
stock in the BSE500 index hit their fresh all-time highs during the week
These included Adani Green Energy, Berger Paints, Indraprastha Gas, Rites, Siemens and Whirlpool of India.
Scrips @fresh life lowsIn the
BSE500 index, shares of Indostar Capital Finance, The New India Assurance, PNB Housing Finance, Coffee Day Enterprises, Reliance Power,
Lakshmi Vilas Bank, Bank of Maharashtra, Reliance Infra, Reliance Capital and United Bank of India touched new all-time lows.
Sectoral
updateThe BSE Telecom index rallied over 10 per cent to 990 on October 11 from 899 on October 4
Shares of Bharti Airtel and Vodafone Idea jumped in double-digits last week on hopes of an end to the price wars that have plagued them for
more than three years now
The rise in stock came after Reliance Jio announced it will begin charging for voice calls made to subscribers of other telcos to account
for the termination charges it pays its rivals
BSE Metal and TECk indices and the Bankex gained over 1 per cent each, while the Oil - Gas and PSU indices slipped 1.34 per cent and 1.20
per cent, respectively.
IPO updateState-owned Indian Renewable Energy Development Agency (IREDA) and Kolkata-based firm Shyam Steel
Industries have received markets regulator Sebi’s approval to float initial public offerings
In another update, shares of Indian Railway Catering and Tourism Corporation (IRCTC) will list on bourses on Monday after its IPO received
the highest ever subscription among PSUs.
Tata Consultancy ServicesCountry's largest IT services firm Tata Consultancy Services (TCS) on
Thursday posted 1.80 per cent year-on-year rise in consolidated net profit at Rs 8,042 crore for the quarter ended September 30, 2019
The company had posted a net profit of Rs 7,901 crore in the corresponding quarter last year
Shares of TCS declined 4.41 per cent to Rs 1,987.1 on October 11 from Rs 2,078.7 on October 4.
Infosys earningsShares of Infosys gained over
4 per cent on Friday ahead of its quarterly results later in the day
The IT services company Infosys said its consolidated net profit has declined by 2.2 per cent at Rs 4,019 crore for the July-September 2019
This is against a net profit of Rs 4,110 crore in the same period last fiscal
The Bengaluru-based company saw its revenue increase by 9.8 per cent to Rs 22,629 crore in the quarter under review from Rs 20,609 crore in
The scrip advanced 2.83 per cent for the week ended October 11.
IB Housing Finance and Lakshmi Vilas BankShares of Indiabulls Housing
Finance and Lakshmi Vilas Bank cracked up to 18 per cent during the week amid the Reserve Bank rejected the proposed merger between the two
"this is to inform that RBI vide their letter dated October 9, 2019, informed that the application for voluntary amalgamation of lndiabulls
Housing Finance Limited and lndiabulls Commercial Credit Limited with the Lakshmi Vilas Bank (LVB) cannot be approved," the bank said in a
stock exchange filing.
IndusInd BankShares of IndusInd Bank declined 3.22 per cent to Rs 1,223.30 on October 11 from Rs 1,264 on October 4
The private sector lender on Thursday reported a 52 per cent growth in September quarter net income at Rs 1,401 crore on steady performance
on core income and lower base in the year-ago period.