INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The week gone by was one of rebound for global financial markets, and the domestic bourse was no exception.
The Sensex gained
1,662 points, or 5 per cent, for the week to 35,011 level, after logging two weekly losses, while Nity50 soared 523 points, or 5 per cent,
to 10,553.
There was optimism in global markets over renewed efforts to settle trade tensions between China and the US
At home, the rupee appreciated, raising hopes that it will restrict foreign equity outflows that stood at over $5 billion in October
Crude oil prices also fell during the week, boosting investor sentiment
Here’s a look at top stocks that hogged limelight all through the week.
Adani, Tata Power: The two power scrips jumped up to 41 per cent
for the week, after the Supreme Court allowed power regulator CERC to amend power purchase agreements of three power plants in Gujarat
Two of these plants belong to Adani Power and Tata Power
Adani Power rose 41 per cent for the week, also aided by quarterly numbers
Tata Power rose 10 per cent.
Reliance Communications (RCom): With 41 per cent gain, this stock jumped in all five sessions of the week
The Supreme Court has given the telecom operator time till December 15 to pay Swedish telecom equipment maker Ericsson its dues of Rs 550
crore, bringing relief to the Anil Ambani-owned telco.
Aviation stocks: For the week, shares of SpiceJet, InterGlobe Aviation and Jet
Airways climbed 14 per cent, 11 per cent and 5 per cent, respectively, as ATF prices eased
Data showed Brent January futures tumbled 6.2 per cent for the week, making it the fourth weekly drop in a row
Jewellery stocks: Shares of jewellery makers jumped up to 78 per cent during the week amid optimism over festive demand
Dhanteras, the day deemed to be auspicious for gold and sliver buying, falls on Monday
PC Jewellers zoomed 78.40 per cent
Stocks such as Tribhovandas Bhimji Zaveri, Renaissance Jewellery, Thangamayil Jewellery and Titan Company rose up to 23 per cent.
Coal
India: This stock slipped 7 per cent for the week as the government sold 3.18 per cent of its stake in the company via an offer for sale
The two-day issue concluded on Thursday, with both institutional and retail buyers putting in robust bids in the divestment that would fetch
Centre about Rs 5,000 crore
DHFL: The stock was buzzing all through the week
Earlier in the week, there was a buzz that the company was looking to raise funds by issuing bonds with three-year maturities
Later, reports emerged that the NBFC has bought back about Rs 2,000 crore worth of commercial papers, or short-term debt instruments, before
their scheduled maturities in a move aimed at instilling confidence among investors
The stock rose 26 per cent for the week.
Cox Kings: This stock gained 10 per cent during the week as the company sold its education
business to UK-based investor Midlothian Capital Partners (MCP) for Rs 4,387 crore
The company’s rising debt had been one of the key concerns for analysts over the past two or three years
The deal move may help allay investor concerns some bit.
Tata Motors: Quarterly losses failed to put the brakes on Tata Motors shares, which
rose for the sixth session in a row now
The stock rose 12 per cent for the week, thanks to an 18 per cent jump in October sales to 57,710 units
During the month exports rose 6 per cent to 4,554 units from 4,311 units in the year-ago month.
Info Edge: This stock plunged 9 per cent for
the week after the company reported flat profit at Rs 78.08 crore for the second quarter ended September 30
Centrum Broking has cut estimates for operating profit by 3 per cent and 3.6 per cent, respectively, for FY19 and FY20 on higher AP spends
The brokerage has profit estimate for the firm by 1.5 per cent and 0.8 per cent for the years mentioned.
