INSUBCONTINENT EXCLUSIVE:
Authors: JordanNEW DELHI: Domestic equity benchmarks consolidated with a negative bias all through this past truncated week amid a host of
earnings, US Fed rate review, uncertainty over the outcome of US-China trade talks and a spike in crude prices.
Foreign outflows continued
but domestic inflows remained strong and helped the indices cap losses.
For the week, the BSE Sensex fell 0.16 per cent to 34,915 over last
NSE barometer Nifty50 declined 0.69 per cent from its last week's close of 10,692
Selling was seen across second-rung stocks.
BSE Midcap index tanked 2.11 for the week and the BSE Smallcap index 1.36 per cent.
Metal stocks
took a beating with the benchmark index falling 3.35 per cent
Real estate, oil gas and auto indices ended up to 3 per cent lower.
Here’s a look at the most buzzing stocks of the week.
Ups downs in
PC JewellerThe word 'crazy' is not enough to describe the zigzag movement on this counter this past week
The stock saw an intra-week high of Rs 210 and low of Rs 101 in one session
The stock soared 73 per cent from Rs 101 after the company denied reports of arrest of MD and CEO Balram Garg
The scrip settled Friday’s session at Rs 174.55, down 1.88 per cent from previous week's close of Rs 177.90.
Muted guidance drags HCL
TechA muted guidance for FY19 by the IT major dragged this stock by 11 per cent this past week
The firm guided for an organic growth guidance of 4.25-6.25 per cent in constant currency terms for FY19 compared with expectation of 6-9
Experts say that a pause in organic growth in recent quarters due to lacklustre IMS (infrastructure management services) is a concern for
The IMS division accounted for 37.8 per cent of FY2018 revenues.
Midair trouble for aviation stocksShares of InterGlobe Aviation plunged 16
per cent for the week after the company reported 73.30 per cent yearly drop in profit at Rs 117.64 crore for March quarter
The recent rise in crude oil prices has increased air turbine fuel cost, which is expected to weigh on aviation companies
Shares of Jet Airways fell 17 per cent last week
SpiceJet was down 0.85 per cent.
Kotak Bank continues victory marchThe lender has stormed into the league of top 10 most valuable companies
The scrip gained 3.74 per cent last week
At market capitalisation of Rs 2.34 lak crore, Kotak is India's ninth most valued firm
Varun Beverages gets a highThis stock climbed 11.75
per cent for the week and was top BSE500 performer
The PepsiCo's largest franchise bottler posted over two-fold increase in its consolidated net profit at Rs 19.73 crore for the quarter ended
The company had posted a net profit of Rs 6.89 crore during the same period of the previous fiscal.
Bharti Airtel takes a hitShares of this
telecom operator fell 3 per cent this week
Global ratings agency Standard Poor's revised down its outlook on the country's largest telco to “negative” from stable, following weak
financial performance in FY18 and concerns on elevated capex in the current financial year
The comapny is plans to raise as much as $1.5 billion by diluting about a fourth of its stake when it lists the holding company for Africa
operations, Bharti Airtel International (Netherlands), in early 2019.
Glenmark Pharma gets some painThis stock fell 6.6 per cent for the
The clinical trial of Glenmark’s osteoarthritis pain medication at a hospital in Jaipur has been flagged by the Central Drugs Standard
Control Organisation (CDSCO) over violations like falsification of the data of the patients in the trial
India’s apex drug regulatory body has now sent show cause notices to Glenmark Pharma as well as the investigator in charge of the trial at
the hospital, senior government officials aware of the development told ET.
Hexaware develops snagThe stock fell 11 per cent for the week
after a host of brokerages downgraded the stock as they felt the stock’s superior valuations to its peer group are unwarranted
The IT firm has maintained its 2018 guidance despite robust quarterly earnings, prompting analysts to benchmark valuations of the company
