NEW DELHI: The week gone by was an eventful one as the benchmark indices scaled record highs despite concerns over global trade war. For the week, BSE barometer Sensex climbed 313 points, or 0.83 per cent, to settle at 37,869 after hitting a record high of 38,076 during the week.
NSE’s benchmark Nifty50 gained 68.70 points, or 1.01 per cent, during the week to 11,429. It fell short of the 11,500 level, but madeba fresh all-time high of 11,495 on Thursday.
Here’s a list of stocks that hogged limelight during the week.
Jet Airways: “Guilty and embarrassed.” Jet Airways Founder Chairman Naresh Goyal chose these words to show his concern for shareholders who are losing money amid the company’s ongoing financial woes. The company has made u-turn on 25 per cent salary cut for employees, and on Thursday t was deferred its earnings announcement to an unspecified late date. The stock wiped 10.44 per cent off Jet shareholders’ wealth during the week.
HDFC AMC: This stock gained 49 per cent from its issue price during its listing week. The stock on Friday closed at Rs 1,749.30 against its listing price of Rs 1,739 and issue price of Rs 1,100. The Rs 2,800 crore initial public offering (IPO) was sold between July 25 and 27, and was subscribed 83 times.
Selan Exploration Technology: This scrip rose 25 per cent last week. Ace investor Dolly Khanna picked up additional stake in the company during the week. According to the data, Khanna bought 1,04,250 shares at Rs 244.03 apiece, amounting to over Rs 2.5 crore. The company on Wednesday reported a 320 per cent growth in net profit at Rs 14.25 crore against Rs 3.39 crore reported for the year-ago period.
JP Associates: This stock plunged 12 per cent in the week gone by after the Supreme Court said that the promoters of Jaiprakash Associates cannot bid for Jaypee Infratech, which is facing insolvency proceedings before the National Company Law Tribunal (NCLT). The court has referred the case back to the insolvency court to start the process afresh under a new committee of creditors that includes homebuyers.
Kwality: Strange as it seems, this stock jumped 28 per cent last week, even as dairy products maker delayed reporting its financial results for the quarter ended June citing technical snag. The company which destroyed nearly 90 per cent of investors’ wealth from its 52-week high levels said that due to some technical snag in ERP software, financial results for June quarter is delayed for finalisation.
PVR: This stock soared 12 per cent last week after the Maharashtra government filed an affidavit at the Bombay High Court, saying it does not deem it necessary to interfere with the ban on outside food in multiplexes. Meanwhile, reports of the Supreme Court staying a Jammu & Kashmir High Court order allowing outside food to be taken in cinema halls too boosted the counter.
Reliance Communications: This stock gained 19.49 per cent last week on reports the debt-ridden operator is looking to complete the sale of its business assets worth Rs 25,000 crore by the end of this month. During the week, the company said it would launch an offer to buy back $300 million of overseas bonds as part of a proposed debt restructuring. Besides, the Anil Ambani-led telco has got one more month to furnish bank guarantees worth Rs 774 crore to telecom department and sell spectrum to Jio.
AU Small Finance Bank: This stock gained 6 per cent for the week. Global investor Redwood Investment today sold over 8 per cent stake in AU Small Finance Bank for Rs 1,531 crore, through open market transactions. Among the buyers of the shares were AU Small Finance Bank’s promoter Sanjay Agarwal, SBI Mutual Fund, Nomura India Investment Fund Mother Fund, Reliance Mutual Fund and Sundaram Mutual Fund.
Avanti Feeds: The stock fell 10.64 per cent for the week after the company reported 41.59 per cent year-on-year fall in net profit at Rs 85.67 crore for the quarter ended June 2018. It had posted a net profit of Rs 146.68 crore in the same quarter last year. Revenue from operations increased to Rs 1,040.24 crore in Q1 FY19 over Rs 998.17 crore in Q1 FY18.
Lupin: This stock fell 8.64 per cent for the week after the drug firm reported 43.37 per cent decline in its consolidated net profit at Rs 202.76 crore for the first quarter ended June 30, hit by drop in sales in the US and Japan. The pharma company posted a net profit of Rs 358.08 crore in the year-ago quarter.
Source: Economic Times