INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The week gone by was marked by heightened volatility on account of escalation in US-China trade row, elevated crude oil prices,
tumbling rupee and the expiry of June futures options contracts.
The BSE Sensex dropped 266 points, or 0.75 per cent, for the week to close
The NSE barometer Nifty50 declined 108 points, or 0.99 per cent, during the week to settle at 10,714
IT, telecom and FMCG indices lead the sectoral charts rising up to 2.2 per cent for the week, while oil gas and real estate indices ended
up at the bottom, falling up to 5 per cent
Here is a list of stocks that grabbed headlines all through the week.IDBI Bank: LIC's decision to acquire a majority stake in the stressed
bank was the biggest corporate news last week
The Mumbai-based lender has the highest bad loans in the industry at nearly 28 per cent of total advances and posted a loss of Rs 5,663
The stock which took a beating in first four sessions, climbed 10 per cent
on Friday to cut its weekly losses to 7 per cent
PNB Housing Finance: The scrip had a good start to the week on reports that housing major HDFC and private sector lender Kotak Mahindra Bank
were eyeing stake in PNB's housing arm
But the stocks reversed gains after the two called the rumours 'baseless'
Nonetheless, the stock rose 5.52 per cent for the week.
NDTV: This scrip surged 56 per cent last week after Sebi ordered Vishvapradhan
Commercial, to make an open offer for up to 26 per cent shares of New Delhi Television (NDTV) for indirectly acquiring control of up to 52
per cent stake through a convertible loan of Rs 350 crore in 2009.
Titan Company: This jewellery stock was in news this week after a
regulatory filing on Thursday showed the ace investor Rakesh Jhunjhunwala had sold 1.25 crore shares, or 1.4 per cent stake, in the company
The stock though managed to end flat (up 0.25 per cent) for the week
BPCL, IOC, HPCL: Elevated crude prices and fall in rupee to record low level weighed heavy on shares of oil marketing companies last week
Shares of HPCL slumped 16.69 per cent for the week
It was followed by BPCL (down 12.80 per cent) and IOC (down 8.48 per cent).Jet, SpiceJet and InterGlobe aviation: These stocks declined
between 4 per cent and 10 per cent on worries of rise in air turbine fuel (ATF) cost, which accounts for a majority of their expenditure
Jet Airways was the worst hit with a 10 per cent drop; InterGlobe Aviation (down 8 per cent) and SpiceJet (down 4 per cent) followed
suit.
Indian Bank: This stock erased all gains made in the early part of the week after the state-run lender decided to go against approving
a dividend proposal of Rs 6 per share
The bank's board had recommended the dividend on
May 10 while declaring March quarter results
It reported 59 per cent decline in net profit at Rs 131.98 crore for the quarter ended March 31, as provisions for bad loans had nearly
The scrip ended 0.5 per cent lower for the week
Fortis Healthcare: This stock dropped 3 per cent for the week
Inquiries into fund diversion at Fortis Healthcare have revealed that transfers to entities connected to the erstwhile promoters were
authorised by Malvinder Singh, the elder of the two siblings who controlled the Fortis-Religare combine, though both had links to these
entities.Ruchi Soya: The stock declined 11 per cent last week after Yoga guru Ramdev promoted Patanjali Ayurved raised concerns with the
Committee of Creditors (CoC) about Adani Wilmar's eligibility to bid for the company
According to Section 29A, a bidder for an insolvent company cannot be allowed to offer a resolution plan under Corporate Insolvency
Resolution Process (CIRP), if the promoter is connected to another stressed-loan corporate.
